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Contract Hand-offs

From my article on Realtor Magazine

Investors eyeing foreclosures and other residential properties to flip often connect with other investors looking for opportunities in the single-family rental market. Contract assignments are a common tool in these kinds of transactions because they enable investors to get a property under contract quickly and, rather than assume the risk that comes with turning it into a long-term investment, turn it over to an end buyer before closing in exchange for a fee. Read the article at Realtor Magazine here.

SEC Expands Accredited Investor Rule

From my article on Entrepreneur

The Securities and Exchange Commission (SEC) has announced a modernized version of the accredited-investor rule that will goes into effect in late October and will allow those with professional credentials and licenses to qualify as accredited investors to invest in startups, pre-IPO stock, venture companies and funds and other private funds. This amendment widens the spectrum of eligible investors who can invest their personal funds or retirement accounts into certain investments or company stock offerings that are routinely limited by law to accredited investors. Read the article on Entrepreneur here.

New Legislation Would Grant Automatic Forgiveness of PPP Loans Under $150,000

From my article on Entrepreneur.com

A bipartisan bill called The Paycheck Protection Small Business Forgiveness Act has been introduced into the Senate that would allow  who received a  () loan of $150,000 or less to obtain automatic forgiveness after submitting a one-page attestation form. The attestation form would be limited to one-page, and the small business would simply attest that the loan is eligible for forgiveness and that the business complied with the requirements of the Paycheck Protection Program found in the CARES Act.

New PPP Law Extends 8-Week Period and Reduces Percent Payroll Cost Rule

From my article on Entrepreneur. 

Congress just passed the Paycheck Protection Flexibility Act of 2020 and improved the  (PPPP) for small- loans. The bill enhances the PPP by increasing the time  can use funds and receive forgiveness from eight weeks to twenty-four weeks and by reducing the  cost rule from 75 percent to 60 percent. The President is expected to sign the bill immediately, and the  and Treasury will be tasked to update their regulations, guidance and forgiveness application.