Category Archives: private money lender arizona

Arizona Hard Money Construction Loans: Is it the Help That’s Right For You?

page2-img2If you’re looking to finance a construction project, you may be wondering where to secure financing. If land in your area is scarce, if your planned development is something others consider a pipe dream or if your credit situation is less than ideal then you should consider the benefits of hard money Arizona construction loans.

Yes, traditional banks offer loans for construction projects. However, they avoid risk by applying a rigid bureaucratic checklist to see who qualifies. If you as a borrower don’t tick a box specific box, don’t expect your deal to close. Plus the terms of any agreement you strike with a conventional lender are likely to be as inflexible as the concrete foundations you intend to pour.

Hard money is different. This type of lender is usually an investor or group investors, who are not beholden to government regulations or typical bank bureaucracy. Hard money providers can look beyond a rigid checklist when it comes to you and your project. As investors, they are more interested in your projects potential instead of your credit score. Of course, this type of loan will cost you more than a conventional bank loan, but it offers many advantages.

Ask Yourself these Questions to determine if a Arizona Hard Money Construction Loan is the right help for your situation:

There are three basic questions to ask yourself to determine the right type of financing for your construction project:

  • When do you need the money?  Expect a traditional bank loan to close no sooner than 30 days, after, you have gone through the tedious rigmarole of completing their application process. In the case of hard money, most deals can close within days. This speed can allow you to secure the purchase of an attractive parcel of land before other developers.

  • How much flexibility do you need?  Banks have very rigid loan terms from which they will not divert. They have a one-size-fits-all approach when it comes to construction projects. If your proposed project is, say speculative, a traditional lender is not going to renegotiate the terms of your loan if you run into difficulties. Hard money offers more leeway to speculative developers who might need a bit of deference. As investors, hard money providers might be willing to tailor the terms of your loan and your repayment schedule to meet the needs of your unique project.

  • Can you qualify?  Once again banks have a one-size-fits-all approach when it comes to the type of borrower who is eligible for financing. If a particular aspect of your financial history doesn’t meet the bank’s criteria, you are out of luck. In the case of hard money, if your project has enough potential your personal financial situation is irrelevant.

Arizona Hard money construction loans benefit borrowers who need speed, flexibility or those who are in unique financial situations.

If you need to secure the purchase of a prime piece of land quickly, don’t wait around for a conventional bank, approach a hard money provider first. If your proposed construction project doesn’t exactly fit the mold, hard money providers can work out a deal which can meet your needs. If you have been turned down for conventional financing in the past, hard money can get your construction project off the drawing board and into reality.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC Dennis Dahlberg
Level 4 Funding LLC 
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis Dahlberg Broker/RI/CEO

NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701 

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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

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Benefits of Using Hard Money Lenders

Still in search for funding for your Real Estate Investment Project? There is a tremendous amount of capital available in today’s market and hard money lenders are funding their share.

From hard money lenders, bank credit cards, lines of credit, private lenders, retirement funds and traditional bank loans, real estate investors are finding the capital they need for their next big project. Hard money loans have not always had fair press, though these types of loans have been a dependable way to fund deals for decades.

The funds come from a group of individuals or a single individual who lends on their own terms. They base their decision on the collateral of the deal. With traditional lending, if your credit score falls below a certain amount then it will be impossible for you to get funded, regardless of the circumstances. Because hard money lenders set their own criteria, they can often fund projects that have been denied by traditional banks. The higher risk is associated with somewhat higher interest rates. They also work quickly to get projects funded, usually within seven days or quicker. A few of the benefits of using Hard Money Lenders are:

1) Speed–Regardless of what your offer is the speed in which you can close is more important. Conventional loans can take up to 45 days to close and many conventional lenders have been burned on deals that never closed due to the lengthy closing time. When you place your offer, a seller may take a little less knowing that the property can close in 5 to 7 days.

2) Volume – Over the course of a year, closing time within a few weeks means a few more rehab projects which will generate greater returns to the bottom line.

3) Quality–With Hard Money in your corner, you can be assured that what needs to be done will be done correctly and you do not have to cut corners to save money. You will earn a better reputation for quality work and more projects.

Bigger Projects

Knowing that you have a hard money lender behind you can help you build up to bigger projects over time. You start with a single family unit and build up to multi-family and commercial properties. Looking at various projects you may or may not want to use a hard money lender. There might be some projects that a four percent interest rate will benefit you while some rehab projects demand the speed that hard money offers. The goal, eventually, is to build enough capital that you are able to fund projects yourself without any outside funding.

With hard money lenders behind you, you have the option to look at all projects that come your way.

The fees and interest rates for hard money loans can be higher, but the speed in which you can get a project funded may be worth the extra expense. In a short-term deal, this is a small price to pay to finish a rehab and flip the property. It is worth the relationship with a hard money lender as well as other financing options for choice on a project-by-project basis.

Dennis Dahlberg
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444 NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

What is hard money? Benefits of a Hard Money Mortgage.

What variety of Arizona Hard Money do I would like?

There are two totally different sorts of Arizona hard money that is out there to you. Each are exceptionally comparable, however they every have totally different advantages to the borrower. The 2 varieties of Arizona hard money are Hard money lender Arizona and private money lender Arizona. It is simple to get confused by the 2, they’re each sensible sorts of loans, however the next will clarify how they’re totally different.
It should not shock you to search out out that hard money lender Arizona and private money lender Arizona are each primarily based on property and have extra to do with the true property you need to put money into than along with your credit score rating. These are each additionally loans that aren’t financial institution affiliated, so they’re simpler to acquire than your conventional financial institution loan.
Nevertheless, hard money lender Arizona and private money lender Arizona do have some variations. 
For instance, hard money lender Arizona occurs to be a group of individuals, whereas private money lender Arizona is only one particular person who offers out the loan. Usually, with a private money lender Arizona, you realize the individual loaning you money, however that is not all the time the case with the group of traders in a hard money lender Arizona.

Each loans have fast turnaround regardless of their increased rate of interest, however as a result of of this fast turnaround, the rate of interest makes little to no distinction. The loans are additionally extra versatile than your conventional financial institution loans, particularly if you use a private money lender Arizona.

Take into account these varieties of loans as you resolve on rehabbing a property. It might make all of the distinction to your venture and stress you out far much less within the interim. Take into account the versatile and protected Arizona hard money loans. Whether or not you go private money lender Arizonaor hard money lender Arizona, you can be pleased with the result.
Dennis Dahlberg
Stage 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917

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

What is a Arizona hard money loan?

In case you are wanting into private financing however you’re confused about what Arizona hard money means then you’ve gotten come to the appropriate place. You may say that the best approach to clarify what a hard money lender Arizona or a private money lender Arizona is could be that they’re each individuals who have entry to money that’s simpler to get to than making use of for a financial institution loan. Their money is then used virtually solely for actual property. Nevertheless, hard money lender Arizona is normally a group of individuals whereas private money lender Arizona is only one individual. Arizona hard money may be a nice choice for somebody who would not need a financial institution loan as a result of normally, you don’t have the loan lengthy sufficient for the excessive curiosity to make a very huge impression. Hard money Arizona is virtually at all times a short-term loan.
There are  three most important the reason why Arizona hard money is termed Arizona hard money and none of them must cope with difficultly in acquiring the loan as a result of the truth is, an Arizona hard money loan is not tough to acquire. As a substitute, it’s known as Arizona hard money for these causes:
  1. Increased rates of interest, however you’ve gotten a quick turnaround time.
  2. Arizona hard money lenders decide what a property is value in its greatest situation, however beneath some circumstances, will finance as much as 100 p.c.
  3. Hard money lender Arizona offers money based mostly on the worth of the property however embody restore prices into the loan. This is very in contrast to most conventional lenders who don’t embody the restore prices into the loan. Contemplate this is a nice choice for many who are planning on rehabbing the property.
Consider all of those nice advantages as you contemplate Arizona hard money to your subsequent rehab challenge.
Dennis Dahlberg
Degree 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917

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