Solid Capital Growth

Phoenix: An Affordable and Vibrant City for Renters

solidcap_admin — Thu, 20 Apr 2023 10:26:58 +0000

Phoenix: An Affordable and Vibrant City for Renters

Phoenix, Arizona is an ideal place for those who are looking for a place to rent. Known for its hot summers and mild winters, Phoenix is a popular destination for snowbirds and those who want to escape colder climates.

One of the main reasons why Phoenix is a great place to rent is its affordable cost of living. According to recent studies, Phoenix is one of the most affordable cities in the United States, making it an attractive option for those on a budget.

Additionally, Phoenix is home to a thriving job market, with plenty of opportunities for employment across various industries. Whether you’re in tech, healthcare, or finance, you’re likely to find job openings in Phoenix.

For those who enjoy outdoor activities, Phoenix has plenty to offer. With over 300 days of sunshine each year, residents can enjoy hiking, golfing, and other outdoor activities almost year-round.

Phoenix is also home to several popular hiking trails and parks, including the largest municipal park in the United States. According to wikipedia.org, South Mountain Park preserves in a natural state a mountainous area of 16,283 acres. The park’s lookout point rises over 1000 feet above the desert floor. Beyond the roads leading to ramadas and the summit, the park features 58 miles of trails for cycling, hiking, and horseback riding.

If you are looking for a more challenging hike, look no further than one of Scottsdale’s prominent landmarks, Camelback Mountain. It’s hiking trails ascend 1,280 feet to the peak. According to wikipedia.org its name is derived from its shape, which resembles the hump and head of a kneeling camel. There are two trails to choose from, Echo Canyon Trail, is located on the west side it is approximately 1.14 miles. Cholla Trail is located on the east side of the mountain and is approximately 1.4 miles. Both trails are considered strenuous with steep grades. The average hike requires a round trip time of 1.5 to 3 hours.

Another benefit of renting in Phoenix is the city’s diverse culture and entertainment options. There are many museums to check out and gardens such as the Desert Botanical Garden. Phoenix Zoo is also a must see. Additionally, it home to many major sports teams, such as the Phoenix Suns and the Arizona Diamond Backs, and more. There is always something to do in Phoenix.

Finally, Phoenix is an excellent option for those who want to live in a metropolitan area without the high costs associated with other big cities. Compared to cities like New York and San Francisco, the cost of living in Phoenix is much more manageable, making it an attractive option for those who want to live in a city without breaking the bank.

In conclusion, Phoenix is an excellent place to rent for those who value affordability, job opportunities, outdoor activities, cultural diversity, and a manageable cost of living. With its sunny climate, stunning natural beauty, and vibrant community, Phoenix is truly one of the best places to call home.

A Comfortable Stay in Jacksonville: The Benefits of Short-Term Rentals

solidcap_admin — Wed, 22 Mar 2023 13:04:32 +0000

A Comfortable Stay in Jacksonville: The Benefits of Short-Term Rentals

Jacksonville, situated on Florida’s northeast coast, is a vibrant city, attracting visitors with its captivating beaches, top-rated golf courses, and thriving business community. With so much to see and do, it’s no wonder that short-term rentals, also known as vacation rentals, have become increasingly popular among travelers seeking comfortable and convenient accommodation.

For those seeking leisure and relaxation, Jacksonville has an abundance of short-term rental options. Beachfront homes and condos are a favorite choice, offering a range of sizes to cater to individual and group preferences. These rentals provide easy access to Jacksonville’s top attractions, such as the Jacksonville Zoo, Cummer Museum of Art, and other historic and cultural sites.

Business travelers will find that short-term rentals near downtown Jacksonville offer a convenient alternative to traditional hotel accommodations. Downtown Jacksonville is home to several large corporations, including CSX Corporation, Fidelity National Financial, and Southeastern Grocers. The Prime F. Osborn III Convention Center, located in downtown Jacksonville, hosts various conferences and events throughout the year. Short-term rentals near these areas offer easy access for those visiting for work.

Medical teams and families of hospitalized patients can also find short-term rentals near Jacksonville’s top-rated hospitals, such as Mayo Clinic, UF Health Jacksonville, and Baptist Medical Center. These short-term rentals provide a comfortable and affordable option for visitors who need to stay close to their loved ones while they receive treatment.

One unique experience that visitors can enjoy while staying in Jacksonville’s short-term rentals is exploring the Springfield neighborhood, Jacksonville’s historic district. Springfield attracts millennials, hipsters, and the LGBT community with its local breweries, eclectic cafes, and trendy restaurants. Visitors can rent a renovated historic home and immerse themselves in the area’s youthful atmosphere, while also enjoying proximity to downtown’s business district.

In conclusion, short-term rentals are an excellent option for anyone visiting Jacksonville. With a diverse range of properties to choose from, visitors can enjoy the flexibility, comfort, and convenience that these rentals offer, whether they are traveling for leisure, business, or medical reasons. The added benefit of being in close proximity to Jacksonville’s top attractions and the unique experience of staying in Springfield’s historic neighborhood make short-term rentals a top choice for visitors to this vibrant Florida city.

Jacksonville: A Growing City with a Thriving Real Estate Market

solidcap_admin — Wed, 14 Dec 2022 09:57:27 +0000

Jacksonville: A Growing City with a Thriving Real Estate Market

The Jacksonville real estate market is on the rise, with an increasing number of people looking to buy or rent homes in the area. According to recent data, the median home price in Jacksonville is $210,000, a significant increase from previous years. This trend is expected to continue as more people are drawn to the city for its affordable cost of living, beautiful beaches, and growing job market.

One of the main reasons for the growth in the Jacksonville real estate market is the city’s strong economy. The area is home to several major corporations, including Bank of America and Wells Fargo, which are providing a steady stream of job opportunities. Additionally, the city’s location on the Atlantic coast makes it a popular destination for tourists, which has led to the development of a thriving hospitality industry.

Another factor contributing to the rise in real estate prices is the increasing demand for housing in Jacksonville. As more people move to the area, the available housing stock is being rapidly absorbed, leading to higher prices. This trend is expected to continue as more people discover the many benefits of living in Jacksonville, including its low crime rate and excellent schools.

In addition to its strong economy and growing population, Jacksonville is also a great place to live due to its beautiful natural surroundings. The city is located near the Atlantic coast, offering residents access to miles of sandy beaches and crystal-clear water. It is also home to a number of state and national parks, providing ample opportunities for outdoor activities like hiking, camping, and fishing.

Overall, the Jacksonville real estate market is showing strong signs of growth and is an attractive option for both home buyers and investors. With its vibrant economy, beautiful natural surroundings, and growing population, Jacksonville is a city on the rise and is quickly becoming one of the hottest real estate markets in the country.

Real Estate Expenses and Tax Options

solidcap_admin — Wed, 10 Mar 2021 19:27:40 +0000

Real Estate Expenses and Tax Options

You should always know local state and federal laws before you enter a home flipping adventure. Capital Gaines taxes are one of your biggest expenses when flipping a home. If you make the property your personal residence some of the taxes can be avoided, but if you are doing multiple flips in a year this is not always an option.

Here are a few ways you can save on your taxes.

1. Hold Properties for One Year – Holding the property for at least one year can also reduce your taxes liabilities. Properties held for more than a year are taxed at Capital Gaines rates instead of personal income tax rates. While this is a great way to save on your taxes you must weigh the cost of holding properties for that length of time and consider your cash will be tied up and could prohibit you from investing in other properties. All of these factors must be considered.

2. Tracking Expenses – This is the best way to offset your tax payment. This includes meals, office supplies, travel expenses to and from the job site. Are you using a room in your home to conduct business? If so, that room and a portion of your utilities can be written off as an expense. No expense is too small or too large and all will help with your taxes. So, keep all of those reciepts, you will be amazed at how much money they can save you.

3. 1031 Exchange – Have you heard of the 1031 tax exchange? This federal tax law is great but has many rules and timelines. These timelines must be followed, or the exchange is forfeited, and taxes are due immediately. You only have 45 days after the current asset is sold to identify a replacement property and only 180 days to complete the purchase. There are no appeals or option if you miss the deadline. There are company’s that will walk you through this process and handle the paperwork for you. This expense could also be deducted as a business expense.

4. Profession Advice – It is always a great rule of thumb to have a bookkeeper or Accountant that is familiar with the Real Estate industry on speed dial. The cost of either will be far less than a tax issue with the IRS. Consider making a personal connection with your professional and take them to lunch or dinner. The cost of a meal could provide you with valuable free advice.

Solid Capital Growth has always sought the help of the professionals when it come to expenses and taxes. Our 30 plus years of experience in the industry has taught us that lesson, as the taxes laws are ever changing. Let SCG help you with your next Real Estate flipping adventure and you will have all our knowledge on your team.

Jacksonville House Flipping Market Predictions for 2021

solidcap_admin — Tue, 02 Feb 2021 21:13:31 +0000

Jacksonville House Flipping Market Predictions for 2021

Have you been reading all the market predictions for 2021?
Zillow is predicting 10.4% increase in home sales for the next year. This is after we already had an 8.7% increase in the last 12 months.

The Jacksonville Business Journal reported that luxury home sales in Jax were up 80% in a year over year comparison, when looking at a period ending Nov 30, 2020. NEFAR even reported that July 2020 average home prices jumped 15.3% over June of the same year. August of 2020 saw a 10.4% increase over August of 2019. These are some of the highest prices The First Coast has ever seen.

The worldwide pandemic has more people working from home these days. This has also influenced our market. Since homeowners are spending more time in their homes, they are doing more improvements and or deciding their homes are not working for them anymore. All these plus interest rates at a record low of 3.2% on average and many other factors are affecting and driving our market.

Home Flippers are another driving force in our market. Given that prices are rising so fast, areas once not considered profitable are now becoming great opportunities for Flippers. Homes that have sat abandoned for years are becoming great deals for local Flippers. Take a trip through some of the cities older, less expensive neighborhoods and you can see the vibrate construction activity going on. You will even see that old vacant lots have new homes being built. The Bowen Road neighborhood is a great example of that. There are at least 15 or 20 new homes in the area on once vacant land.

These are the opportunities that our company can help you with. Solid Capital Growth can help you build your portfolio by funding your next flip. We could even partner with you to build a spec home to be sold upon completion. Our company has the flexibility to customize a program just for you and your project. We have a quick approval process and reliable, expedited funding. Let us partner with you on your next flipping adventure. Solidcapitalgrowth.com

Written by Tim Locke, President
Solid Capital Growth Inc

Jacksonville Economic Growth

solidcap_admin — Tue, 22 Dec 2020 16:35:12 +0000

Jacksonville Economic Growth

Northeast Florida has a very diverse economy and this is driving our Real Estate market. Prices continue to increase and sales are going strong, while other communities are facing a flat market. Major companies like Amazon, FedEx and UPS are currently hiring 100’s of people. Just last week Deutsche Bank announced 2000 new jobs coming to Jacksonville in 2021. These new jobs will take the place of the jobs lost during the pandemic this summer. Even with the continued closing of some retailers, those employees should be able to find new jobs with one of the mentioned employers.

I spoke to one Real Estate agent that said she was selling her listings before they ever hit the market because demand is so high. A mortgage underwriter that said she is working 7 days a week to keep up with the demand. Several others in the mortgage industry gave similar statements. Just more evidence that the Real Estate Market in Jacksonville is booming and has no sign of decline in the near future. Jacksonville historically has always been a booming market, even when we are down we tend to be down less than the rest of the country. We can attribute our continued success to the diversity of our economy.

If you aren’t in the Real Estate market currently, now is a great time to get into it. Flipping houses is a great way to invest in the market. A non traditional company like Solid Capital Growth Inc is a great financial partner for first time flippers, as well as seasoned flippers. We offer a simple, quick and easy process. We offer great rates and have the ability to handle any size project. We hope to be your Financial partner in your next investment.

Written by: Tim Locke, President
Solid Capital Growth Inc

10 House Flipping Tips

solidcap_admin — Mon, 07 Dec 2020 21:33:26 +0000

10 House Flipping Tips

Have you been watching all the DIY shows and think you are ready to give house flipping a try? The purchase of the property is the first and largest expense, however you must be able to afford any necessary Interest payments as well as renovating the house. Without having adequate finances to do this in a timely manner, you may struggle to make any profit. Here are 10 things you need to know before trying your hand at house flipping.

1. Financing your flip – Very few Conventional lenders will lend on a property as an investment. Private Money can be expense. Do you have the cash to do the flip, must be the first question you ask yourself. If you are doing a hard money loan, a private lender or a bank loan, know all the fees, prepayment penalties and monthly payments. A mistake in the financing could cost you all your expected profit.

2. Know your market – Make sure you know the market you are in. Do your research and make sure the property you are purchasing is worth the purchase price. This information will also help to ensure you do not over improve the property. Too many flippers think if they over improve, they will get more money, this is not true. When doing your research make sure to only include true comps and believe the research.

3. Time Management – It is extremely important that you create a timeline and stick to it. If you are trying to flip a property in four to six weeks custom items such as kitchen cabinet or high-end finishes are not always available that quick. The more expensive the home the longer your timeline will tend to be. Know the property and be realistic with your timeline. Always better to overestimate on time and cost than to underestimate.

Looking to finance your next flip? Fill the form and we will get back to you

4. Property Inspection – It is always a good ideal to have a professional inspection. This will give you a list of items that need to be fixed. Sometimes these items were not visible and can greatly affect your budget. If the contract is contingent on the inspection, this will give you a way out of the contract if large, unexpected items come up on the inspection.

5. Know your city, state and local codes – When planning your flip, know if local building codes require permits for the work. If walls need to be moved, make sure your contract includes permits in the estimate. Permits can be a very costly delay if they are not obtained properly. Not to mention if work is done and not permitted, it will come up when the home is sold. You could be made to open walls to have it inspected and permitted properly.

6. Be resourceful – Have a back up plan. Items can taker than expected. Make sure you have a second option so that when something happens you can make up the time or cost in other places. If something takes more time or money than you budgeted for, make sure you have a place in the project to make it up. Always have a contingency fund, 10% of the renovation budget should be enough.

7. Know your limits – Too many flippers want to do items themselves. This is great if you are skilled at the project. Have your contractors and workers in place before you purchase a property. If you try to do too much yourself and fail to do quality work it can be more expensive to have the mistakes fixed, than it would have cost to have the job done in the first place. Teach yourself to do things in your own home, not on a flip.

8. Design Instincts – Not everyone is a designer. This is not the time to put all your personal style into a house. Be neutral and consistent. Paint the entire inside of the home one color, it will make the home seem large and will appeal to more buyers. Make sure all your fixtures match, such as doorknobs, kitchen and bath faucets, and lighting fixtures. The finishes in the home should be up to community standards. If every house in the area has granite, marble or other solid surface countertops, you should not put laminate countertops in yours. You want to be equal to or better than your competition.

9. Curb appeal – Too often flippers spend all the money on the inside of the house. Curb appeal is just as important. Have trees trimmed or even removed if necessary. Simplify flower beds, not every buyer has a green thumb. Consult a professional, even if only to get guidance on what to do with the curb appeal. Curb appeal is not just the yard. Does the exterior of the home match the interior? Again, neutral color is the way to go. Pick a neutral base and trim then pain the front door with a pop of color. This will give the buyers the best possible first impression.

10. Preparing to Sell – Are you a salesman? Do you know how to sell a house? Most buyers have Real Estate Agents. An agent that is familiar with your market will be able to market it more successfully. Homes priced properly will sell faster. Always consult the professionals, this will save you time and money. Always remember you got into this for the money.

These are the top ten items to consider before getting into a flipping project. In today’s world of social media, you can find great opportunities in local chat groups on FB and other sites. When considering your financing also consider private lenders and funding partners. Take Solid Capital Growth for example, we partner with you to ensure the flip is well funded and we offer many types of options. We have 39 years of experience and a multi-million-dollar portfolio to help you through all types of issues. We are local and here to help.

Looking to finance your next flip? Fill the form and we will get back to you

How flippers can start the gentrifications of a community

solidcap_admin — Sun, 15 Nov 2020 08:41:49 +0000

How Flippers Can Start The Gentrifications of a Community

Property flippers bring significant investment to an area, meaning they hold the ability to begin the gentrification of a community. Finding the perfect area to flip in is a vital part of establishing great long-term projects with enormous potential.

The overall principal of house flipping is that it is bought in a sub-standard condition and improved to grow the value of the property. This works to benefit the surrounding area, as well as the home itself. This works best when it is done in an area that has potential, whether it is an estate with some great properties, a desirable location or an attractive neighborhood.

Flippers have the ability to kick-start the gentrification of a community, making the changes required to begin improving it while making it more attractive and desirable. The renovation of a property begins by increasing its value, therefore attracting people with higher expendable income into the area as they can afford it at its new price.

In addition to this, a more attractive property on the inside and outside entices more people to do the same, purchasing other properties in the community at a higher price as they become more and more desirable.

Amenities in the area such as restaurants and shops are more attracted to communities with higher incomes and more wealth, meaning they then begin to trade in these areas. Locations that already have such amenities can be attractive to flippers when deciding on properties to choose.

Gradually, those who are unable to afford living in the neighbourhood will move out, as more wealthy people take their place, enhancing the gentrification even further.

While this process can take a reasonable amount of time, it begins with flippers investing into properties in the right areas and selling them to people at a higher price than they were previously valued at, resulting in gentrification of entire communities.

To successfully gentrify a community, house flippers must begin by searching for upcoming neighbourhoods that hold the potential to grow and improve drastically with some renovations. Once this the location has been selected, flippers are able to purchase multiple properties in these areas, increasing profit and growing property value.

What are the current trends in the US market?

solidcap_admin — Mon, 24 Aug 2020 12:59:07 +0000

What are the current trends in the US market?

Coronavirus advice is an enormous trend in the US estate market, as people seek information that will help them get through these unprecedented times. In addition to this, those in the property market are looking for advice and ways they are able to recover successfully.

People are getting more creative with the ways they can currently sell properties, as well as planning for all eventualities. Innovative estate agents are running virtual property tours through video, or even virtual reality technology, showing prospective buyers around in a way that gives them a visual tour without the need to attend. These digital solutions are being continuously worked on and adapted by those in the property market, creating ways to help keep the market moving. It’s essentially a method of online shopping for properties that many are looking to adapt in order to continue business.

There is a lot of coverage of the value of properties with economic uncertainty being a major talking point. It’s expected that property prices will drop drastically in the weeks and months to come as investors pull out of deals and demand for properties drop.

An anticipated wave of people selling their homes to raise funds after the coronavirus pandemic eases, combined with less people being able to financially afford property, will likely result in a mismatch and declining prices.

These trends will no doubt see continuous changes in the coming months, however there is a clear focus on innovative property sales and advice in today’s rapidly evolving market.

How is the global shut down affecting the market?

solidcap_admin — Mon, 13 Jul 2020 13:14:35 +0000

How is the global shut down affecting the market?

Uncertainty has impacted the estate market enormously in recent months. The global shut down has impacted the market on a large scale, with people unable to sell, buy or renovate properties as they used to.

The effects of the global shut down are clear, with web traffic to real estate portals dropping by as much as 40 per cent since the coronavirus outbreak began. New listings of homes being sold have dropped by as much as 70 per cent in some areas of the US, highlighting an enormous challenge for the market in the months to come. These rapid changes are the result of many factors that are challenging the property market.

Given the current difficulties in all industries, people are opting to hold on to their finances as opposed to spending, meaning investment in property has reduced significantly. In addition to this, the industry’s ‘non-essential’ status has made it impossible to view properties in many states and cities, while in others it has presented large challenges.

New challenges have arisen, such as banks making it harder to get financing for properties. The shut down of shops, shortage of materials and difficulties faced in the world of transportation mean it has become even more difficult for materials that are required in home renovations to be delivered. Because of this, property flippers are struggling to renovate properties they have already purchased, again delaying the market’s ability to continue operating.

Those who travel overseas to purchase properties in the US are also unable to do this, meaning there are significantly less international buyers, also impacting the market.

The effect on the property market will differ between cities and communities, depending on local conditions. The shock to the economy will affect the property market differently in various areas, depending on local conditions. ATTOM Data Solutions released a report that stated that property markets in Florida and the Northeast may be particularly vulnerable.

These challenges also highlight upcoming opportunities. As the housing and flipping markets begin to recover, demand will be higher than ever. As such, many people in the property industry are spending time educating themselves and viewing the latest trends in preparation for the market’s full return.