16 10, 2019
  • Do You Need Documentation for a Hard Money Loan

Do You Need Documentation for a Hard Money Loan?

By |2019-10-07T22:47:37-04:00October 16th, 2019|Categories: Hard Money, Hard Money Loans|Tags: , , , , , , , |0 Comments

For many people, a hard money loan is the best way to go - especially when it comes to real estate investing. That's because hard money loans fund quickly (sometimes in as little as 48 hours), they're easy to deal with, and they're short-term, enabling the borrower to pay them off quickly and move on to the next investment property. But do you need documentation for a hard money loan, or can you walk right into an office and borrow tens of thousands of dollars with little or no paperwork? Here's what you need to know. Do You Need Documentation

13 10, 2019
  • Are Hard Money Lenders Loan Sharks

Are Hard Money Lenders “Loan Sharks”?

By |2019-10-07T22:40:17-04:00October 13th, 2019|Categories: Hard Money, Hard Money Loans|Tags: , , , , , |0 Comments

If you're like many people - especially those just starting out in real estate investing - you've heard all kinds of things about hard money lenders. Some of them are myths, and some of them might be true (or at least half-true). But are hard money lenders what you'd call "loan sharks"? Here's what you need to know. Are Hard Money Lenders "Loan Sharks"? Hard money lenders are definitely not loan sharks. Check out the official definition of a loan shark: Hard money lenders are typically well-established and reputable, and they certainly don't do anything illegal or charge extremely high

10 10, 2019
  • Are Hard Money Loans More Expensive Than Conventional Loans

Are Hard Money Loans More Expensive Than Conventional Loans?

By |2019-10-07T22:32:47-04:00October 10th, 2019|Categories: Hard Money, Hard Money Loans|Tags: , , , , |0 Comments

If you're like many people who have never borrowed hard money before, you've probably heard a few things about it - especially if you're interested in real estate investing. Some of those things might be complete myths, but some are likely true. But are hard money loans more expensive than conventional loans are? Here's what you need to know if you're thinking about borrowing hard money. Are Hard Money Loans More Expensive Than Conventional Loans? If you're looking at the numbers, a hard money loan seems more expensive than a conventional loan does. That's because hard money loans typically have

7 10, 2019
  • 3 Hard Money Loan Myths That a Lot of People Believe

3 Hard Money Loan Myths That a Lot of People Believe

By |2019-10-07T22:24:44-04:00October 7th, 2019|Categories: Hard Money, Hard Money Loans|Tags: , , , , , |0 Comments

If you're like many people who have never taken out a hard money loan, you've probably heard all kinds of myths about them -  but here, we'll cover three of the most common and debunk them so you know all the facts. 3 Hard Money Loan Myths That a Lot of People Believe Some of the most common myths about hard money loans include: You don't need any documentation for a hard money loan Only people who are desperate take out hard money loans Hard money lenders aren't as careful as big banks are Here's a closer look at each

16 07, 2019
  • Property Types for Hard Money Loans - Paces Funding

Property Types for Hard Money Loans

By |2019-06-23T17:54:23-04:00July 16th, 2019|Categories: Hard Money|Tags: , , , , , |0 Comments

If you're thinking about getting a hard money loan, you need to know what types of property you can get it for. Here's the scoop. Property Types for Hard Money Loans A borrower can use a hard money loan for nearly any type of property, such as: Single-family homes Multi-family homes Commercial properties Land Industrial properties These types of loans aren't appropriate for all transactions - they're a better fit for some than they are for others. A lot of investors use hard money loans to get in on a deal quickly (if investors wait too long, someone else with

23 05, 2019

Bigger Pockets Suggests Hard Money Lenders As Great Source Of Funding For House Flippers Starting Out

By |2019-05-21T10:42:35-04:00May 23rd, 2019|Categories: Business, Due Diligence, Foreclosures, Hard Money, Hard Money Loans, Income, Investing|Tags: , , , |0 Comments

Bigger Pockets is a huge online resource that helps ordinary people build wealth through real estate. It's an incredibly popular resource because of it's free tools and information. Bigger Pockets recently suggested that hard money lenders like Paces Funding, is a great source of funding for home flippers for investors who know they can flip a home quickly. Check out what the article said. Here's an excerpt. "This source of OPM can be especially useful if the house you are flipping can be completed in a very short period of time. Like any other kind of loan, the shorter you

20 04, 2019

Virginia Highland: One Of Atlanta’s Most Popular Neighborhoods

By |2019-04-19T22:04:55-04:00April 20th, 2019|Categories: Developers, Flipping, Hard Money, Income, Investing, Investment, Investment Properties, Investments, Leases, Leasing Your Property, Short Sales, Tenants|Tags: , , , |0 Comments

Virginia Highland, or simply VaHi to residents that live there, is one of Atlanta's most vibrant areas. It combines small-town charm with the perks of living in the city. Virginia Highland is found east of Ansley Park right near downtown. This neighborhood has four separate and distinct villages that are all connected into a very walkable overall neighborhood. Virginia Highland is considered one of Atlanta's most sought after neighborhoods, so if you can find an investment property in VaHi that you can either flip or turn into a rental, you'd be in luck. Some of the homes are over 100-years-old

12 02, 2018

If You Don’t Have 100% Of The Funds, Don’t Start A Real Estate Project

By |2018-02-12T03:43:12-05:00February 12th, 2018|Categories: Construction Loans, Flipping, Foreclosures, Hard Money, Hard Money Loans, Home Improvements, Home Upgrades, Investing, Investment, Investment Properties, Rehab Loans|Tags: , , |0 Comments

If you don't have all the funds you will need for your real estate project, be that flipping a house or renovating a potential rental property, don't take that risk. That's a gamble that could end up with you in a really bad situation. If you want to start a real estate project, be sure to start with more debt or more funds than you think you will need. That's right, always starts with a loan for more than what you think you will need to complete the project. See, it's easier to get initial funding than subsequent funding. If

7 08, 2017

What Does Loan-to-Value Ratio Mean on a Hard Money Loan?

By |2017-08-07T10:00:01-04:00August 7th, 2017|Categories: Hard Money|Tags: , |0 Comments

  If you're like most people who are buying a home as an investment property, you don't want to be tied up in a conventional mortgage loan. Typically, hard money loans are the ideal solution for borrowers who want to fix-and-flip properties. What is Loan-to-Value Ratio? The amount of money your hard money lender is able to let you borrow is determined by a mathematical formula. It involves the loan amount divided by the value of the property, which is called the loan-to-value ratio. Some hard money lenders are willing to lend between 65 and 75 percent of a property's

23 06, 2017

Does Your Credit Score Affect Approval for a Hard Money Loan?

By |2017-06-23T19:30:07-04:00June 23rd, 2017|Categories: Hard Money|Tags: , , , |0 Comments

Many investors use hard money lenders to help fund real estate investments they plan to sell right away. Hard money lenders offer a substantial advantage over traditional banks because of their ability to fund loans at a faster rate. The approval requirements are far less stringent, and in many cases, credit scores do not affect an investor's ability to qualify for a hard money loan. Value of the Subject Property Most hard money lenders require borrowers to use the subject property as collateral for loan approval. The value of the subject property is more important to lenders than the borrower's