Category Archives: Private Hone Lender in Arizona

Why some hard money lenders in Texas will turn you away

When Casey moved to Texas, he had dreams of making a name for himself in the real estate industry. He quickly realized it was not as easy as the shows on Bravo make it look. Hard money lenders in Texas are not the only ones that are on the chopping block when it comes to loaning money.

If you have been following Level 4 Funding for a while, you probably have read a few times that it is fairly easy to borrow a hard money loan. This is true, for the most part, when you are looking for a potential lender you are free to pick and choose who you want to borrow from. If a certain lender is offering an interest rate that is out of your range, then find another. If the lender you are talking to is not willing to lend you the money are seeking, you do not have to work with them.

For some borrowers, like Casey, the lender may turn you away if they feel the property is not going to return their money. There are usually certain standards that hard money lenders in Texas look for when they are considering lending someone money for a property.

Someone that is playing to win

The real estate business can be extremely unforgiving if you are not prepared and careful when you are looking at properties. Many lenders will not lend to you if you are not risking anything for the investment. Most lenders expect you to pay a large enough down payment on what you plan to purchase.

This is a sign of good faith that you are willing to stick your neck out for the property so you can recoup your money. In Casey’s situation, he was not willing to put a large enough amount that would suffice the risk that the lender was taking. He could have gotten another person to invest with him, but this was his first property. The down payment was the least of his problems.

When in doubt know, your way out

Most people that get into the business try to look for homes that will have a higher resale value during closing. When experienced investors are looking for a property they can flip for a profit, they make sure they have a plan to pay back the loan if all else fails. Hard money lenders in Texas look for borrowers that have an exit strategy if the property fails to make a positive return.

Casey did not think of this when he was planning on purchasing the derelict duplex in a fairly rough neighborhood. Since many people were moving out and Casey did not have enough money to buy the rest of the city block, it was unlikely the building would have a positive return.

Setting yourself up for success counts in real estate

Planning accordingly with allow you to seek out any lender you choose. For Casey being new to Texas and not knowing how things worked he ultimately failed. Take a page from Casey’s book and remember this: do not be like Casey. Take the extra hour to look up potential investors, and forget about being frugal when it comes to a down payment.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
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About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Using Hard Money to Purchase Your Fix and Flip

Is Arizona Hard Money Proper For Me?

  
Generally folks get confused about Arizona hard money, nevertheless it should not be so tough as a result of Arizona hard money can present the short-term money that people want to repair up or buy a chunk of property.
Arizona hard money can are available in two varieties; hard money lender Arizona and private money lender Arizona.
Hard money lender Arizona refers to a bunch of people that don’t use typical requirements to loan money to debtors and by that it’s meant that hard money lender Arizona shouldn’t be affiliated with banks. The loans hard money lender Arizona provides out are non-traditional loans, which makes them simpler to get hold of.
Private money lender Arizona is a person who needs to give out non-traditional loans. This private money lender Arizona may very well be somebody that you realize or it may simply be an investor that you just’ve met with who needs to be part of you in your actual property journey.
Whichever means you select, Arizona hard money ensures that investments occur comparatively shortly. Arizona hard money is a loan answer that’s short-term and over shortly, so greater curiosity doesn’t actually matter. The credit score historical past of a borrower does not make a distinction as a result of the Arizona hard money loan comes from a non-traditional loaner much less within the credit score and extra within the property.
If you’re on the lookout for a fast loan for the property you have got wished for fairly a while now, it may serve you effectively to start wanting into Arizona hard money for the loan that you really want and want. As an alternative of coping with complicated banking guidelines, get along with a private money lender Arizona or a hard money lender Arizona group and start to plan out the reworking of your model new property. 

You can be glad that you just selected Arizona hard money lender.

Dennis Dahlberg
Dealer/RI/CEO/MLO
Degree 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.SETABAY.COM
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027