10 02, 2023

The 3 Financing Options Every New Investor Should Understand

2023-02-03T02:37:40-05:00February 10th, 2023|Categories: Hard Money Loans, Investing, Investment Properties, Loan, Private Lending|Tags: , , , , , , |

Real estate investors have a number of options when it comes to borrowing money to fund an investment. Most common are conventional loans, hard money loans and private money loans, which the following sections explain. The 3 Financing Options Every New Investor Should Understand Check out these three common options for investors: Conventional loans. These are loans from banks or other financial institutions that follow standard underwriting guidelines. They typically have a longer application process, a higher credit score requirement and require a larger down payment. Hard money loans. These are short-term loans from private investors or companies that use

29 05, 2019

3 Secrets To House Flipping You Probably Won’t See On TV

2024-06-17T12:40:56-04:00May 29th, 2019|Categories: Construction Loans, Flipping, Hard Money, Hard Money Loans, Home Improvements, Home Upgrades, HUD, Investment, Investment Properties, Investments, Private Lending|Tags: , |

House flipping isn't really like it is on TV. To be a successful house flipper, you have to know how to do it right. Here are three things that successful house flippers do that are too boring for television and too important for you to not know. House flippers don't buy houses at full retail price. What would be the point? If you pay full price and then make improvements, you're not going to make much of a profit, if any. You need to purchase a house that is genuinely prices to sell. You have to find a home in

12 11, 2018

Investing In The Nashville Real Estate Market

2024-06-17T12:42:17-04:00November 12th, 2018|Categories: Business, Commercial, Construction Loans, Hard Money, Hard Money Loans, Investing, Investment, Investment Properties, Investments, Leasing Your Property, New Construction, New Home Development, New Homes, Private Lending|Tags: , , |

There’s a lot of interest in investing in places like Nashville and other strong secondary markets right now. This is due to economic and cultural factors driving people out of more traditional markets. Plus, when you consider the quality of life in much larger downtowns, it's no wonder smaller, homier downtowns are the next big thing. These secondary markets prime for investing are great tourist destinations, just like Nashville. They are also key areas for music and the arts, just like Nashville. Here's what these secondary markets desperately need: Residential condo units. (Last year, Nashville gained a mere 71 units.)

24 07, 2018

What Types Of Borrower Requirements Are There For Hard Money Loans?

2024-06-17T12:45:14-04:00July 24th, 2018|Categories: Bridge Loans, Construction Loans, Flipping, Hard Money, Hard Money Loans, Home Improvements, Home Upgrades, Income, Investing, Investment, Investment Properties, Investments, Private Lending|Tags: , |

Paces Funding is a professional hard money lender, so we have some very specific borrower requirements for hard money loans. Many are shocked to learn that there is actually no credit score requirement for borrowers to meet. Still, borrowers must complete an application. You also must have an executed contract for purchase. Other Borrower Requirements If you are applying for a hard money loan through Paces Funding, you'll need a detailed construction budget for the property from a contractor. If you are the contractor, that's fine, but we will still need a detailed construction budget. We also need to see

27 03, 2018

Things To Look Out For When Shopping For Hard Money Lenders

2024-06-17T12:47:47-04:00March 27th, 2018|Categories: Equity Lending, Hard Money Loans, Private Lending|Tags: , |

If you're shopping for a Hard Money lender, here are some things to look out for. You want a real hard money lender, like Paces Funding. You don't want a broker or a scam, right? So, take our advice and avoid a bunch of hassles. If you're purchasing property in Atlanta, Nashville, Florida or the North and South Carolina metropolitan areas, just stick with Paces Funding. But if you're outside our service area, use these tips to avoid fake hard money lenders. Watch out for online directories. These aren't actually hard money lenders. They're usually just websites that will sell your

3 11, 2016

Fulton County Tax Foreclosure Sales (and How to Find Them)

2016-11-03T10:00:04-04:00November 3rd, 2016|Categories: Business, Foreclosures, Hard Money, Investing, Investment, Investment Properties, Investments, Private Lending, Tax Foreclosures, Taxes|Tags: , , , , , , , , , , |

In the state of Georgia, it’s legal for the government to seize property, such as homes and land, for the nonpayment of taxes. According to the Georgia Department of Law, a homeowner’s obligation to pay property taxes is backed by the property itself. If a homeowner fails to pay, the county tax commissioner can sell the home to raise the amount due back in taxes. Often these homes sell for exceptionally low prices—but how does the whole process work? How Does a Property Get Seized? When a homeowner’s property taxes are past due, the tax collector can proceed through a

25 08, 2016

Are Co-Working Spaces Worth the Investment?

2016-08-25T10:00:20-04:00August 25th, 2016|Categories: Business, Hard Money, Private Lending, Real Estate, REIs|

More and more, people are going into business for themselves. Those tired of “working for the man” or craving a better work-life balance are calling it quits on punching the clock. Trends in Atlanta are also showing a demand for workspaces where people can come and go at their leisure—especially when working from home is not always ideal. More often than not, freelancers and start-up companies are not in a position to rent costly office spaces, and above all, they are not willing to make a long-term commercial lease at the start. So, where is all this business being conducted? Co-working

21 06, 2016

3 Indispensable Tools for Real Estate Investors

2016-06-21T10:00:14-04:00June 21st, 2016|Categories: Hard Money, Investment, Private Lending, Real Estate, REIs|

If you’re like most real estate investors, you understand that the ability to quickly and easily evaluate a property—and its potential value—is key to deciding whether to purchase it. This first step is critical in making the right investment decision. Using the right tools to accurately value a property can save you a great deal of time and effort in making your determination. REI Tool #1: Google Maps, Earth and Street View Virtually everyone these days relies on Google maps for navigation. Before you even drive past a property, have a look at it—and the surrounding area—using Google Earth. Street

11 05, 2016

Private Money Lenders vs. Hard Money Lenders

2016-05-11T10:00:06-04:00May 11th, 2016|Categories: Hard Money, Loan, Private Lending|

What’s the difference between a private money lender and a hard money lender? The short answer is that there are some differences—and if you’re a real estate investor, you’ve probably heard the two terms used interchangeably. Differences Between Private Money Lenders and Hard Money Lenders A hard money lender such as Paces Funding is able to provide capital quickly. Private lenders are able to do so, too, but there are differences that may make all the difference in the world. Hard Money Lenders Hard money lenders typically have lending criteria. For example, Paces Funding’s loan criteria for residential properties include:

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