United Cash Loans 123 is a non-loan company that focuses on serving our clients with high quality commentary on current events as they relate to various loan industries including cash loans, business loans, mortgage loans and credit card loans. We do not make, sell or service loans. We provide information for educational purposes only.
3 Loans That Cater To Real Estate Investors
Real estate investors often do not have all the cash that they need to complete their purchases. Even the biggest developers in the world will need massive loans to pay for their projects. These projects often have expensive units that sell quickly, pay off the loan, and the developer starts making money. At the same time, the investor still needs to know about loans they can use to make their property investments profitable. Take a look at the three loan types below that might be helpful to you and your real estate investment business.
1. Conventional Property Loans
David Ebrahimzadeh recommends conventional mortgages for property investors. These mortgages are not offered by the government. These loans often come from banks that can also fund and provide government mortgages. The most popular loans in this category are Fannie Mae and Freddie Mac.
If you are new to real estate investment, Fannie Mae is the Federal Government National Mortgage Association, and Freddie Mac is the federal home loan mortgage corporation. These loans are backed by the government, but they are designed for massive properties. The terms on these loans tend to be very favorable, and you can get into an affordable mortgage that makes investment easier.
At the same time, you might want to try traditional homeowner’s loans if you would like to flip houses. These loans are offered by the government and include FHA or Federal Housing Administration, USDA rural home loans, and VA loans. As your investments get bigger, you will need to stick with conventional loans. You can also improve your relationship with Freddie Mac or Fannie Mae over time as you get more loans through these entities.
2. Hard Money Loans
Hard money loans have a lot of advantages over convention home loans or government loans because investors can go to these lenders to get favorable terms and almost immediate cash. David Ebrahimzadeh notes that a hard money loan allows the lender to decide if they think that your project is worth their time.
When you can show a hard money lender that they can get paid back quickly and you will make money on the project, they are more likely to give you the cash you need. A lender like this has very favorable terms because they are assuming that you can get the money back to them quickly. At the same time, you need to have a business model that pays off these loans quickly.
This is why large projects often have expensive units that sell for high prices. One penthouse in a high-rise in a big city can pay off a hard money loan instantly. The hard money lender gets a good percentage back in interest, and both parties can go their separate ways.
Hard money loans are also helpful if you know that you need money to close a deal before someone else takes it. While someone else is waiting for their financing to go through, you can make an offer on the property for all cash, and you can get the project started immediately.
3. Private Loans
Private lenders provide cash when they have extra money to spend. Private lenders could be business associates, family members, colleagues, or people in the community who have extra money. These lenders might give you the money expecting to get it back with little to no interest. At the same time, you might get big loans from your colleagues who will get a commission in return.
For example, someone who uses a small private money loan to buy a house to flip can give their colleague 8% to 10% back for their money. These private money loans are easy to manage if you have good relationships with your colleagues.
Private loans are particularly important for people who are just starting in the industry. You might know someone who owns a real estate company, and they can give you the money you need for a project you believe in. All the money that you make will allow you to make down payments on much larger loans from Fannie Mae or Freddie Mac in the future.
Choose The Best Loan For Your Situation
You must choose the best loan for your situation because each real estate investment plan is different. You can get conventional loans from Freddie Mac or Fannie Mae when you are investing in large buildings. You might also want to get a hard money loan from a big lender who can give you a massive infusion of cash in a short period of time. You can also work with private lenders who can give you the cash you need, and that makes it so much easier for you to complete your projects. You can grow your company, get the money you need, and get favorable terms with any of these loans.
Five Reasons You May Need To Hire A Structural Engineer To Help With Your Home
When you are doing some work around your home, you might need to hire a structural engineer. The engineer can help you make some good choices, and you can avoid problems that might have been caused when work around your home was not done properly. Homeowners even try to do all the work on their own without consulting a professional in the field. Use these tips to bring in a professional who can help you do the appropriate around your home safely, quickly, and properly.
1. A Structural Engineer Can Create Your Plans
Pedram Zohrevand believes that you need a structural engineer even if you plan to do the work on your own. The structural engineer can create the plans for the project, and the engineer can give you some advice on how to complete the project.
When you are meeting with the engineer, they can tell you that a contractor might need to do certain parts of the job for you. This is a good time to reassess what you are doing so that you complete the job safely.
2. Are You Knocking Down Walls?
When you are knocking down walls, you need to make sure that you have done the job properly. You do not want to hit weight-bearing walls, and you do not want to remove walls that are supportive even if they are not “necessary”. The structural engineer will explain why or how you should remove certain walls. The engineer can make suggestions that will suit the designs you want to use, and you should make sure that you have asked the engineer to go through each part of the house or building to show you which walls should remain.
You may also ask for alternative options for adding and removing walls. You can make clever choices that will support the weight of the building, and you will not knock down walls that are bearing weight.
3. Are You Finishing A Basement?
Finishing a basement should be a simple job, but you should have a structural engineer look at the walls in the basement. You need to know that the foundation is in good condition, and you also need to know if the basement can be used safely. When the home is shifting or you need to have foundation work done, you need to put your finishing project on hold. The structural engineer will explain how you can use the basement after the foundation supports have been installed.
4. You Are Adding A Pool Or Digging Significantly On The Property
When you are digging around the property, you should make sure that you have asked the engineer if it is even safe to dig on the property. Because of this project, you should ask the engineer if you can add a pool, if you can add a guest house, or if you can add a shed. Most of these projects are simple, but some properties have massive slopes.
If you dig too much in one place or another, the house could begin to shift. You might have problems with the foundation if you dig too close to the house, and you might cause the foundation to shift. You might also have issues with flooding in the basement, or the structure that you build in the backyard might not be stable because the soil on the property is not stable.
5. You Are Building A New House
When you are building a new house, you need a structural engineer to show you how to build the home safely. You may need help choosing the proper lot, or you might need help because it has been difficult for you to fit your design onto the lot you have. You might choose to build a beach house that sits on loose soil, or you might have chosen to build a home on a mountain where there is more rock than soil.
A structural engineer knows how to build the home properly, or they can tell you that you should use a different lot to build the house. It is very simple to make better choices when you have worked with an expert, and you will not need to do extra work to the home just after it is finished.
You Can Hire A Structural Engineer Today
You can hire a structural engineer today when you use the tips provided by Pedram Zohrevand, and you should work with the engineer to learn how to make your home a beautiful and functional place to live. You can do some of the work on your own, but you should work with an engineer to avoid any complications. You can also hire an engineer who will help you choose the proper lot to build your dream home and avoid any issues with the soil or foundation
A Quick Guide to US Sales Tax Nexus
Sales tax policies are generally very elaborate and also very confusing at the same time. It is important to use simple terms so it is easy to understand the sales tax policies. Sales tax nexus can be a bit complex to understand but it is important to understand it. Nexus means a commercial company that is present in any state in the USA. Sales tax nexus can be fulfilled if there is sufficient physical or online presence of the company in the state. If your business has a nexus than it is important for you to collect taxes on sales. There are many different kinds of nexus and they are also different in different states. It can be both in physical or digital forms. If you have a physical store or company in the state or if you have an online website then it is under nexus. It is important to use a sales tax calculator so you can determine the amount of sales tax that you would need to collect from your customers. If you have nexus in a state it is important to register for a sales tax permit in the state and then charge sales tax from the customer after calculating with a sales tax calculator. You would also need to file for tax returns in that state.
Knowing about sales tax
If you are running a business it is very important to know about all the sales tax law. Information about sales tax law can be found on various website and it is important to know about nexus and on what kind of business sales tax is applicable. You can do sales tax outsourcing if you think you can hire someone to do the task for you. Sales tax outsourcing is now very common as experts are needed to handle the matters of taxes. You would need to do sales tax deduction to calculate your actual profit. After doing sales tax deduction the amount you have left is your actual profit. The Wayfair sales tax case had an impact on tax policies. You can study about the Wayfair sales tax case from the internet. Sales tax laws are always changing and it is important to keep yourself up to date with the changes if you are running a business.
The different forms of sales tax
There are now many different types of nexus which include Affiliate Nexus. If you are associated with any business as an affiliate member of the business and sales are happening through this affiliation then it is called affiliate nexus. There are many states in the USA where affiliate sales tax is applicable and the state includes Arkansas, California, Connecticut, Georgia, Illinois, Kansas, Maine, Missouri, Minnesota, New York, North Carolina, Pennsylvania, and Rhode Island. Another type of sales tax is click-through nexus which is relevant when your business generates sales when it is referred by another business. If you are running ads that lead to sales then it is also a part of click-through sales. Web cookies are also considered as business nexus in many states in the USA.
It is important to know about nexus and sales tax law properly if you are generating revenues by doing any kind of sales in your business so you can legally conduct your business without any hindrance
What’s the Average Cost to do a Bathroom Remodel in New Orleans?
Each year millions of people buy and sell homes to find a better house that their family can be happy in. Rather than spending endless hours and a huge budget on a new home, many people decide to renovate their homes rather than buying a new one. Renovating your home is a great way to protect the investment of your home. Recent studies have shown that nearly 90 percent of Americans plan to remodel their home at some point during their homeownership.
Bathroom Remodel New Orleans
If you live in Baton Rouge or are looking for a bathroom remodel new Orleans you should consider what you want your budget to be before you start the process. Recent studies have shown that the median budget that people set before starting any renovation is about 10,000 dollars. The price of any renovation can significantly change depending on the quality of materials you use. Recent surveys have also shown that in Baton Rouge and surrounding areas the average cost for a bathroom remodel was about 3,000 dollars for materials and about 2,000 for labor.
Regardless of how much you plan to spend during your bathroom remodel you should always ensure that you find the best contractors for the job. There is nothing worse than investing a large amount of money in a remodel just to realize that it does not meet your satisfaction. Finding a trusted and reliable contractor that has experience and is insured can ensure that you get the bathroom to remodel of your dreams.
When deciding to remodel your bathroom you should look at current trends in the housing market to see which colors and styles you should use in your home. Often times contractors can help you with design choices if you are confused about what might look the best. Using these hot choices may help increase the value of your home.
Why Remodel Your Bathroom?
Remodeling your bathroom is one of the best ways to increase the value of your home. Using high-quality materials, like a Kohler shower, could help potential home buyers see the value in your home. While some showers may cost less, a Kohler shower, and other high-quality materials can set your home apart from others on the market. Investing in a remodel may cost you a few thousand dollars, however, in the long run, you can expect substantial returns on your investment if you have the remodel done right.
Remodeling your bathroom is a great way to increase your property value, but it can also make your home feel more like home. Many times our bathrooms are too small or outdated. A remodel can make your bathroom appear bigger and can give you and your family more room. Even small upgrades from one person sink to a two-person sink can make all the difference to some families. These upgrades can eliminate you and your family’s need to buy a new house and instead can leave you happy in your current home for years to come.
A simple remodel or a total overhaul of your bathroom can leave it feeling fresh and clean as well. Often times our bathrooms are considered to be one of the dirtiest places in our homes. If you are worried about germs or want to eliminate as much bacteria from your home as possible a bathroom remodel can help you achieve this goal.
How Much Should You Expect To Pay For Dock Construction?
As more and more people buy waterfront properties, it’s becoming more popular for docks to be built. The thing that gets most people is that it can be hard to figure out how much one costs and what exactly goes into that cost. The good thing is that professionals, like Decks & Docks Lumber Company will be able to tell you everything you need to know about dock construction. With that said, let’s take a look at a few of the things that go into getting one built and the final cost.
Size
One of the biggest considerations that go into the final price is the size that you need. Not only will bigger docks cost more than smaller ones, but they can also end up being quite a few more. This is true even for those docks that are just a few feet bigger. With that being the case, you’ll want to measure and know the exact size you want and need.
Type of Dock
You’ll also have to think about the type of dock you want to build. There are mainly 5 different types of docks, which are: floating, piling, pipe, crib and suspended. Each one of these have different features and different construction. The price will vary as well. For example, a floating one will cost around $15-$35 per square foot, while a crib one will end up being around $10,000-$50,000 total. If you have a certain budget, you’ll want to make sure you choose the type that fits into it the best.
Labor
Most people will hire someone to do the building, but there are some kits available on the market. These kits can range anywhere from $300 to upwards of $5,000 for ones that are custom. While it’s possible to do it all yourself, if you don’t have much experience building, you’ll want to go with a professional because docks need to be built a specific way to last for a long time.
Materials
Another thing that goes into the price is the kind of materials you decide to use. There are many different materials that go into the building of decks and some of them can get pretty expensive. A few of the things you’ll need are: the actual wood, aluminum for the framework and concrete to keep everything secure. It might not seem like a big deal, but the costs add up. This is especially true for those that decide on larger docks or docks with unique designs.
Maintenance
The final thing you want to think about is maintenance. While the other things on this list will usually just be a one time fee, maintenance is going to be something that needs to be done frequently. It includes things like: inspection, cleaning and repairs. Depending on your area, these things can end up being pretty pricey.
These are the most common things that go into dock construction. Keep in mind, the prices will differ from company to company, so make sure you talk to the company you’re thinking of going with so you’re on the same page. If you want more explanation, make sure you reach out to professionals like Decks & Docks Lumber Company and ask any questions
3 Tips for Dealing With Debt Collectors
Millions of Americans are currently dealing with the incredibly difficult problem of debt. They are behind on credit card or mortgage payments. These men and women may not know what to do. Their self-imposed stress from these missed payments is compounded by the tactics of debt collectors. Debt collectors are committed to putting pressure on people and even garnishing their wages in order to bring back the money that they owe. Handling these people can be an essential part of getting a person’s financial life back on track.
Know your rights
One of the most important steps to dealing with debt collectors is to know the law and know the rights that a person has under the law. These rights include the right to have information taken off a person’s credit report in some circumstances and the right to limit calls and mailers. According to Pacific Collection Group, debt collectors cannot lie about their identity or tell a person information that is patently untrue. However, they can do whatever they want to if they are not called out for their various transgressions. People who do not know the law do not know what is illegal and may not know how to report illegal activity. As a result, individuals need to be aware of any law having to do with debt collections and any limitations that those laws place on a debt collector’s actions.
Have a plan
Another key part of escaping and dealing with debt collectors is to have a plan for tackling one’s debts. A payment plan will often help end the calls from these collectors. Such a plan indicates that a person is interested and willing to pay back their debts. Collectors may go on to other people who do not have such a plan. Also, a person who gets organized with their income and debts can amass the capital necessary to start paying some of those debts off.
Get help
Nobody has to confront a debt collector alone. There are a wide variety of professionals who can help people facing debt collections. Many credit counselors have years of experiencing helping people escape from their debts. They can help a person better understand their rights and formulate a plan. Credit counselors are familiar with the steps that are needed to end collections calls and get collections off of a person’s credit report. Pacific Collection Group notes that their help is often invaluable for people who are simply stuck and cannot see a way forward for their debts. A credit professional can offer a new perspective or a potential new source of income that a person had not considered before.
Conclusion
Dealing with debt collectors is not an easy process. It involves a number of massive payments as well as hours of research and consulting financial professionals. The process may take several years. Sometimes these people may have to sell assets or even declare bankruptcy. But being aware and planning can help a person find a way forward without having to deal with hundreds or even thousands of harassing phone calls
White Mountain Partners Shares 5 Terrible Reasons For Getting a New Credit Card
Credit cards help responsible users build their credit and can come in handy in an emergency, but for many people, using credit cards can easily turn into a bad habit that results in a serious amount of debt. Thinking about signing up for another credit card? Consider the following reasons to avoid taking on a new line of credit before you do:
1. You Want to Buy Something You Can’t Afford
We’ve all been in the position of needing or wanting something that is just outside of what we can afford. Though credit cards give one the option to use their line of credit as disposable income, this isn’t a healthy financial decision. If you’re hoping to increase your spending limit, don’t count on credit cards to do so.
2. You Hope to Offset the Costs of College
College students often turn to credit cards to offset their school expenses. Many students often pile this credit card debt on top of their student loan debt, resulting in a financial quagmire that will take years to escape. Though it isn’t as exciting to live on a shoestring budget that most college students stick to, living within your means is much better than signing up for another credit card you can’t afford.
3. You Can’t Use the Credit Cards You Already Have
If you’ve run through all of your credit cards already, you may think it’s a good idea to take out another line of credit. Even if you have every intention of paying everything off, White Mountain Partners shares that turning to another credit card while you have a mountain of other debt is a quick way to dig yourself further into debt.
4. You Want to Take out More Cash
Tired of having to rely on the cash that’s in your bank account? If you’re hoping to apply for a new credit card just to have more cash on hand, think again. Though some credit card companies advertise that you can withdraw cash from your credit card, this isn’t the best option for you. Even though a swipe of your credit card can quickly give you access to hundreds of dollars in cash, this cash is still debt.
5. You Can’t Pay Your Rent
Rent comes around every month, but life often has its own share of surprises. If the end of the month is near and you’re considering applying for another credit card to help you pay your rent, this is a bad idea. White Mountain Partners warns that getting into the habit of turning to a credit card for regular bills will result in an unstable financial situation. Instead of trying to rely on credit at this point, consider other options for additional sources of income to pay your bills.
Though there are legitimate reasons to use credit cards, there are several reasons to avoid them. Keep this information in mind as you research best practices for using your credit cards and before applying for a new line of credit.
Golden State Partners Shares The Difference Between Credit Card Refinancing and Credit Card Debt Consolidation
If you are handling credit cards and happen to be in debt, that are two primary options that you can undertake. One is refinancing and the other is consolidation. It is important to understand these two terms because they have similar meanings. Credit card debt impacts many, and if you have trouble understanding interest rates or need help paying it off, experts at Golden State Partners can assist you in this regard.
What you choose can make a big difference in terms of interest rates and the time it will take for you to pay off the card. Here are the biggest differences between the two.
Refinancing
Also commonly referred to as a balance transfer, credit card refinancing entails moving the existing balance on a credit card from one to another that has more favorable pricing. For example, this means that you could potentially move a $5,000 balance on a credit card that has an 18% interest rate towards a credit card that has a 10% interest rate.
There are many credit card companies that offer a 0 percent introductory interest rate as a special incentive to use their card as the medium to transfer the balance.
The goal of refinancing is to lower the interest that you pay on the credit card. This option, in general, tends to be less effective than consolidating because all you are really doing is just transferring a balance from card to the other. You will see the major difference with consolidation, even though it sounds similar on the surface.
So with refinancing, you will be able to seamlessly move your card balances and if you happen to move the balances onto a card with a 0% interest rate, you can focus making your payments on just the principal alone. However, the biggest question with 0% interest rate credit cards is whether or not you will qualify. A pretty decent credit score is typically the requirement. If you don’t pay down debt, high-interest rates will come back to haunt you when the grace period has ended.
Credit card debt can be difficult to manage, but help from Golden State Partners can assist you with these troubles.
Consolidating
With debt consolidation, you are moving multiple credit card balances into a single loan that has one monthly payment. This can usually be accomplished by moving small credit card balances to one credit card that has a very high credit limit. Usually, this is accomplished through the use of a personal loan.
These personal loans are unsecured and come with a lot of risks, but can also offer fixed monthly payments, fixed interest rates, and a specific loan term. What this means for you is that you will have the same monthly payment with the same interest rate for every month until this loan is repaid in full.
In summary, interest rates will be lower than what you will have been paying on credit card balances, and you will know in advance what you are paying. On the flip side, applying for unsecured personal loans to make this happen will also require you to understand all fo the terms of the loan. There will also be even more added expenses to what you’re paying on the credit card itself
Tuck Associates Discusses The Pros and Cons of Borrowing Against Your Home
We all dream of cheap credit with lower interest rates and longer repayment terms in order to fund such things as home improvements or special vacations. For this reason, many homeowners are tempted to borrow against their home’s equity in order to leverage a purchase for larger-ticket items.
Tuck Associates, a firm that specializes in solutions for consumers and small business owners with debt issues, has a few suggestions to help homeowners decide when it makes sense to pursue home equity loans and when it does not make sense.
Home Equity Loan Versus Home Equity Line of Credit (HELOC)
Home Equity Loan: There is a distinction that borrowers need to understand. A home equity loan is a one-time loan against the equity you have invested in your home. It carries a fixed interest rate. Often, people will use a home equity loan for a major home project, like remodeling or renovation. With the fixed interest rate and the one lump sum, you will eventually pay off the home equity loan at the end of its term.
According to Nerdwallet, one drawback of a home equity loan is the fact that you have another payment to make each month that can cause you to lose your home if you default. Another drawback is that a large draw against your equity can go against you if home prices in your area decline, as they did during the Great Recession.
HELOC: A home equity line of credit is a line of credit, meaning an amount that the bank will allow you to draw against the equity in your home. Nerdwallet likens it to a credit card. You can make small draws or one large draw against your HELOC. It is up to you. This is good in a way because you can contain the amount of money you borrow and thus the interest you will pay. Also, some HELOCs allow you to make interest-only payments during the time period you are allowed to make draws against your equity.
Drawbacks of a HELOC are that the interest rates are not fixed, defaults will allow the bank to take your home and that you might be tempted to either overspend using the HELOC or that you might use it to pay off unsecured debt.
Secured Versus Unsecured Debt
One of the biggest problems that can get homeowners in trouble is if they use home equity loans of any type to pay down unsecured debt. People often try to pay off their unsecured credit card debt at high interest with lower-interest home equity loans. The problem is that, if you get into difficulties financially, such as if you become ill and cannot work or if you become unemployed, home equity loans of any type that are defaulted on will allow the bank to take your home.
Sometimes, if all you are trying to do is get under unsecured credit card debt at higher interest, it is usually better to take out a personal debt consolidation loan. Those loans are also often at a lower interest rate and allow you to make fixed monthly payments with an end payoff date. Debt consolidation loans are unsecured, so your home is not put up as collateral if you default.
A Good Use for Home Equity Loans
According to The Balance, one really great use for a home equity loan is if you plan on making improvements to your home that will add to its equity. As long as the prices of homes in your area do not fall, this would be a far safer use of a home equity loan. Also, the only remaining tax deduction on home equity loans is if you use them to make substantial improvements to your home, so you will also get a tax deduction on interest on the home equity loan.
Tuck Associates suggests that homeowners approach home equity loans with caution and only use them to substantially improve their home. Then, the tax benefits and the increased equity earned with the improvements may offset the cost of the loan. Otherwise, they are usually best avoided, due to the risk of losing your home if you default. Tuck Associates has solutions for homeowners and other consumers who are searching for financing options. Call us with any questions you may have
Will Homeowners Insurance Pay For a New Roof?
Anyone who lives in Florida will tell you that extreme weather is just a part of living in the state. Approximately 40% of all hurricanes to hit the US mainland will reach Florida. In recent years, hurricanes have caused significant damage throughout the state.
Naturally, many homeowners want to know whether their homeowner’s insurance policy will pay the full cost of a new roof.
Homeowners Insurance Will Cover Roof Repairs
Roofing services in Tampa regularly receive inquiries from clients regarding new roofs after bouts of extreme weather.
The good news is homeowners insurance will generally cover the cost of a new roof. Policies do state the full cost of roof replacement will be covered in the event of an act of nature.
For Floridians, this is a real risk they face every hurricane season. In the event your roof needs to be replaced, your insurance company will assess whether they fully cover the cost partially or in full. However, this does depend on the insurance company.
Have You Kept Your Roof in Good Condition?
Every type of roof has an expected lifespan, which differs based on the material. For example, if you paid a roofing company in Tampa to install an asphalt shingle roof the expected lifespan is around twenty years.
On the other hand, a copper roof may last up to fifty years. It’s important to know what your roof is made of and how long it’s expected to last.
If your roof needs to be replaced and you allowed it to lapse beyond its recommended lifespan your insurance company is well within their rights to decline your claim.
General Maintenance is Your Responsibility
You should call a roofing company in Tampa to perform checks on your roof every few years. Homeowners insurance typically states that general maintenance is your responsibility.
These policies will cover the damage caused by a leaking roof, but if you didn’t keep your roof in good condition they won’t cover the cost of the roof repair itself.
Too many homeowners don’t take preventative action when they should.
Does Your Roof Comply with Current Building Codes?
Another reason homeowners should look to Tampa roofing companies is insurance companies are able to decline claims if roofs didn’t comply with current building codes.
Building codes change all the time and most homeowners don’t know about these changes. Regular inspections, which are often provided for free by roofing companies, will ensure your roof meets current building code standards for your area.
Any reputable roofing company in Tampa will ensure that if the worst happens you’ll be able to claim the costs of repairing and replacing your roof.
Last Word – Look for a Comprehensive Policy
With so many insurers on the market, it’s important to shop around to make sure you pick up a comprehensive policy that will actually pay out should a natural disaster hit your home.
You should also go out of your way to ensure you have a professional roofing company you can trust on your side.
Do you have a roofing company or contractor you can turn to in an emergency?