As the economy recovers from the COVID-19 pandemic, real estate investors and developers may need construction loans. Here’s an overview of the financial and nonfinancial information that lenders will consider as they evaluate your loan application. Collateral concerns While lenders secure regular commercial loans with existing cash flow, they secure construction loans with unfinished collateral.…

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Click here to access the full Spring 2021 Real Estate Advisor Newsletter. The articles in this issue include: 2020 Case Roundup: How the IRS Challenges Conservation Easement Charitable Contributions Applying for Construction Loans Today Appropriations Law Addresses PPP Forgiveness, Tax Treatment How to Use Smart Technologies Smartly

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The New Jersey Economic Development Authority (NJEDA) announced Phase 4 of the Authority’s Small Business Emergency Assistance Grant Program on Wednesday, April 14, adding $85 million in funds from the CARES Act. Phase 4 will provide grants up to $20,000 to New Jersey small and medium sized businesses and non-profits that have been negatively impacted…

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The Consolidated Appropriations Act (CAA), signed into law in late December 2020, allocated additional funding for forgivable loans through the Paycheck Protection Program (PPP) — for both first-time and so-called “second-draw” borrowers who’ve been hit by the economic effects of the COVID-19 pandemic. It also includes several critical provisions related to loan forgiveness and tax…

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aerial view of residential neighborhood

The IRS has released proposed regulations regarding changes made to the Internal Revenue Code’s Section 47 rehabilitation tax credit under the Tax Cuts and Jobs Act (TCJA). The regulations address several taxpayer concerns that have arisen in the wake of the law’s passage, including how the credit should be allocated. TCJA’s amendments Prior to the…

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The COVID-19 pandemic has had a dramatic impact on almost every industry, including real estate. Owners, investors and developers already are seeing ripple effects across sectors. This article looks at how the virus might bring changes to multifamily housing that could endure into — or at least heavily influence — the future. A short sidebar…

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If you’re self-employed as a sole proprietor, partner or limited liability company (LLC) member, COVID-relief legislation passed in 2020 included tax breaks that may affect your 2020 personal federal income tax return. In some cases, the tax savings may be significant. Here are two important COVID-related tax breaks that every self-employed individual should consider before…

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2020 has been unlike any other year. Interest rates are currently incredibly low, and banks may be willing to negotiate if you’re creditworthy. Commercial real estate investors have struggled with decreased market values — or the threat of declining values. In these uncertain times, ask yourself three questions to help maintain profits and preserve market…

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Insurance is a fact of life for real estate investors. From start to finish, each project needs to have the proper insurance. The time to wonder whether you’re properly insured is before there’s an issue. To be safe, hiring a qualified professional to help conduct an insurance coverage audit may be necessary. This article reviews…

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Performing routine building inspections and maintenance on a regular basis can help you avoid unnecessary headaches. Setting a consistent, ongoing schedule is the first step. Track “inventory” Create and maintain an “inventory” that describes each building component fully. This should include the manufacturer, location within the property, details about purchase and existing warranties, and, if…

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