Tenants

When To Walk Away From A Potential Real Estate Investment

Successful real estate investors know when to walk away from a potential real estate investment. They know how to spot the signs of a bad investment. Every deal isn’t going to be worth the time, money and effort. So, here are some tips to know when to walk away from a potential real estate investment!

Make sure your income potential is immediate. Don’t invest for some “huge payout” at some indefinite date in the future.
Lack of income documentation on a rental property. If a seller is selling an existing rental property, make sure you see proof of rental rates, vacancies and property profits.
The property is in a bad neighborhood. Keep your eye on properties where the neighborhood values are expected to increase. A good property in a bad neighborhood is not a good investment.
The property is outside of the country. If you’re still looking for tips on investment properties, you likely don’t have enough experience to do well investing in international real estate.
Large upfront cash requirements. Know your budget. A killer deal means nothing if you don’t have a means to renovate the property so that you’ll see a return on your investment.

Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, […]

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    Average Atlanta Rent Growing Three Times Faster Than National Median

Average Atlanta Rent Growing Three Times Faster Than National Median

According to a report on Atlanta rental trends, the city’s rents are growing substantially. The price of rent in Atlanta is growing three times faster than the national median. Three times! Meanwhile, as noted previously, Atlanta home prices are going up steadily. This may lead more people in Atlanta to rent rather than buy. Even still, homes in metro Atlanta are in the bottom quarter of the most expensive cities, so many investors find these conditions perfect for rental property investments.

The rent prices people are willing to pay are growing three times faster than the national median. These increases outpace even San Francisco. If you’re looking for a good place to invest in real estate, Atlanta should be on your list. Plus, the area is enjoying a surging rural economy too. Atlanta was also ranked number 10 for its healthy real estate market.
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you […]

What To Plant Under Pine Trees To Spruce Up Your Rental Property

If you’re not sure what to plant under pine trees to spruce up your rental property, we have the perfect idea! Not many flowers do well under pine trees. Many landlords just add some mulch and be done with it. Yet, well pruned pine trees with flowers beneath them are beautiful. The pine trees’ needles increase the acid in the soil, so few plants can even survive.

Creeping phlox loved the increased acid in the soil. It’s suitable for hardiness zones 4 through 8 and is beautiful! Creeping phlox forms a large mass of color in the spring with a long bloom. Plus, they’re deer resistant! To plant under pine trees, merely rake up the needles where you want to plant the phlox. Never add different soil. If you want to add just organic matter like compost, that is fine. Use shallow holes and keep them level with the ground. Use the pine needles you raked up as the mulch. You only need to water if the phlox are wilting, but only water in the morning. That way the leaves have time to dry. Remember, these are perennials, so they’ll be back next year too. If you need to divide them, do that in early spring.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little […]

What If Your Rental Property Gets Beg Bugs?

Some things you can’t prevent, like the possibility that your rental property could get bed bugs. What happens if a tenant moves out and you’re left with the bed bugs they brought with the in their furniture? Here’s the bad news: It costs upwards of $5,000 to inspect, clean and exterminate the average home severely infested with bed bugs. The good news is that when the rental home or apartment is empty, eliminating bed bugs can be less expensive and less of a hassle. Calling an exterminator is the easiest option, but you can take additional steps on top of that.

In addition to that though, you can pick up some food grade Diatomaceous Earth (DE) to help fight against bed bugs resistant to chemical extermination efforts. DE is a non-toxic barrier that can kill and prevent bed bugs. All you do is find the areas in a home where bed bugs are hiding. They don’t like bare floors, they like to hide. Even still, don’t sweep and mop the floors before you tend to the bed bugs. That will just spread them around.
Do You Really Want To Keep The Carpet?
Pulling up the carpeting and then treating the floors beneath might be a wiser choice in the long run. (Besides, tenants love new carpeting.) Just don’t pull and replace the carpeting at the same time. Don’t install new carpet until the bedbug elimination process is complete.
Steps To Eliminating Bed Bugs Using DE
Get a vacuum with strong suction power and disposable bags. Do not use a bag-less vacuum. Before you start vacuuming, also vacuum up a little DE. This will get the DE along the entire surface of the bag and help make sure that they […]

How to Deal With Late Rent During the Holidays

While everyone is scrambling to get their festivities organized and shopping done, unfortunately, it’s too common for rent payments to be put on the back burner. Landlords are faced with this problem each year, and if it’s happened to you, you know that it’s a tough decision (you know, whether  or not to be a Scrooge).
Keeping a Professional Distance From Your Tenants
If you’re a landlord, you know that maintaining a professional relationship and not becoming involved in your tenant’s financial woes is a necessity. No one enjoys evicting a tenant—especially during the holiday season—but you should remember that this is a business decision where you can weigh the pros and cons.
A Word on Eviction
Evicting someone is not easy, and it’s quite a lengthy process. After evicting your current tenant, you’ll most likely need to turn around the property quickly. However, it’s not easy finding an excellent tenant, especially when you’re facing the potential loss of more than one month’s income. Deciding to evict someone for a one-month lapse may not be worth it to you—especially if you’ve had a solid relationship with your tenant in the past.

If your tenant is always late, the answer should be easy. If not, you may want to consider things such as communication, history and present circumstances to help you decide.

Having to chase down your tenant for the monthly rent is not your job. If they contact you first, it may be to your advantage to just hear them out and work out a payment plan. Good tenants are sometimes hard to come by, and if they’ve always paid on time in the past, there may be some options you could explore for handling their arrears.
Do You Need a Hard Money Loan […]

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