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Archive for the 'Small Balance Commercial property tax information' Category
Do you know your loan broker?
There was an interesting article in the Wall Street Journal (www.wsj.com ) regarding mortgage brokers / Loan arrangers. In this article the author discussed a drastic rise in the fees that borrowers were being taken for without actually getting a loan. Within the lending industry this is a huge problem where a handful or lenders, brokers, loan arrangers, etc… promise the moon to folks and take their money without producing results.
Fortunately Fairview is different. Fairview is a direct hard money lender that funds its own loans, underwrites its own loans, and services the closed loan. There are no upfront fees for Fairview to evaluate a loan and let the borrower/broker know whether the transaction will fit into our hard money lending guidelines.
As a borrower, how do you protect yourself? First Google the broker/loan arranger/lender to see what comes up (i.e. lawsuits, negative postings, etc…). Second, call the lender directly to ask about their programs. Finally, if a transaction smells to good (borrower has a 500 credit and is promised a 3% interest rate) then it likely is too good to be true.
Fairview Commercial Lending is a direct hard money / private money lender. We have offices in Georgia (www.georgiahardmoney.com) as well as in Colorado (www.cohardmoney.com). We never charge any upfront fees and guarantee an honest answer quickly. Fairview also services loans for both our own portfolio and others (www.fairviewservicing.com) and can be reached at 404.634.1270 or http://www.fairviewlending.com/contact.htm
Hard Money lending
Fairview is a direct wholesale hard money lender. We strictly make hard money loans. Fairview will always give an honest yes or no answer quickly with no fees prior to commitment. Fairview Lending is focusing its hard money lending efforts on the following markets: CO, IL, GA, and MT. Fairview can close your hard money transaction quickly with no upfront fees. For details on Atlanta hard money please visit www.georgiahardmoney.com. For details on Denver hard money and Colorado hard money please visit: www.cohardmoney.com. For details on IL and MT hard money please visit www.fairviewlending.com.
Due to the overwhelming response from our no fee promotion in April, the offer has been extended through May. During the month of May, there are no inspection/appraisal fees on any Atlanta hard money transactions or Denver Hard money transactions. Many Atlanta and Denver lenders require exorbitant fees for appraisals and Inspections. Fortunately Fairview is not one of these lenders. There are No inspection or appraisal fees on any hard money transaction during the month of May. This includes small balance commercial loans along with non owner occupied residential properties. Since Fairview is local, we can close your Atlanta hard money and Denver hard money loans quickly. Call us today: 404.475.5869 or 303.459.6061 or e-mail: info@fairviewlending.com. The Fairview team looks forward to closing your next hard money transaction.
More information can be found at www.georgiahardmoney.com and www.cohardmoney.com
Before delving into the risks of a 1031 exchange, it is important to define at a very high level what a 1031 is. A 1031 exchange allows individuals who sell an investment property to use the proceeds from the sale to invest in another “like” property. The 1031 exchange allows property owners to defer their capital gains tax liability. The purchase of a like kind property must occur within 180 days.
Although the definition above sounds simple there are a number of considerations to keep in mind before engaging in a 1031 transaction. Ensure that you fully understand the rules associated with this type of exchange. Details can be found at www.irs.gov. One requirement of all 1031 exchanges is that an intermediary be used. Once a property is sold, money is placed with this intermediary until a like kind property can be located and closed on. Intermediaries are unregulated and the funds held by them are not FDIC insured like a traditional deposit at a bank. As a result a number of bad apples have crept into the intermediary business. A Denver Post article reports that in the past year “Three hundred and thirty investors nationwide including 80 in Colorado, lost 132 million when qualified intermediaries absconded with their money.”