Tag Archives: commercial hard money lender

How to get a Commercial Loan when you are Self-Employed

In today’s era of rules and regulations, it can be difficult for the self-employed to obtain a commercial loan. Fortunately, there are options available for those that are fortunate enough to work for themselves.

One of the main reasons self-employed borrowers have difficulty obtaining a commercial loan is because of their reported income on annual tax returns. This is one of the many perks of being self-employed—all those write-offs including lunch with clients and travel expenses associated with training and business prospects. Unfortunately, all those write-offs are also the reason that individuals find it difficult to get the commercial loans they need to get started or increase their real estate investment portfolio.

One of the requirements that commercial lending institutions utilize is the debt-to-income (DTI) ratio. This is the ratio of monthly payments or liabilities such as car, credit cards, insurance, mortgage, etc. to monthly income. The requirements generally range anywhere from 38 to 50 percent. Lenders further break it up into two categories: front and back-end. Your front-end relates to housing payments while the back-end is your total recurring debt payments. These numbers will be determined by your bills and your tax returns, making it difficult for those that have lessened their tax burden through numerous business deductions. In addition to your past two years of tax returns, you will require other documentation.

Most traditional commercial lenders will require the following from a self-employed business owner: A copy of your business license, most recent 2 months of bank and asset statements, year-to-date profit and loss statement, and current property’s insurance. If you are a corporation, you will also need the last two paystubs with year-to-date earnings. If you are not “paperwork” minded and diligent in keeping business records, providing the needed documentation that gets you approved can be nothing short of a nightmare. Fortunately, there are alternatives.

Acquiring a Loan through a Private Hard Money Lender

If you are looking to develop or expand your real estate portfolio, a hard money lender may be the funding you are looking for. Most private lenders in this category look to collateral as a means of securing the loan and pay less attention to credit scores and DTI. One option is obtaining a bridge loan—a short-term loan that investors use in order to purchase a property quickly and make the necessary renovations before reselling.

One of the loans we offer at Level 4 Funding is the bridge loan. This loan is generally used as a bridge from one asset to the next—allowing you to keep one property while purchasing the next.
At Level 4 Funding we specialize in commercial loans for the self-employed. We offer a fast and easy approval process using either 12 months of bank statements or the last two years tax returns. Your credit score can be as low as 620 and the DTI up to 50 percent. We also offer 5/1 ARM or 30 year fixed with rates starting at 4.99 percent APR with no prepayment penalty. Call us to discuss your many options.

mark-gowlovech-150x150Dennis Dahlberg
Level 4 Funding LLC  Private Hard Money Lender
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   

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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.

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How To Find A Commercial Hard Money Lender

slide-2So, you’ve received the deal of a lifetime pending, however don’t know the place and discover a Commercial Hard Money Lender. Don’t rush into enterprise with the primary one which crosses your path. Listed here are some ideas to assist get you began on discovering a profitable match.

The excellent news is that you just’ve received a deal! Hopefully, you’re additionally organized together with your marketing strategy and monetary statements, upfront , and able to interview a couple of Commercial Hard Money Lenders–a lot in the identical means they are going to be prepared to judge you. Fortunately, the world is filled with Commercial Hard Money Lenders as of late, which is useful when and if a monetary establishment turns you down, or in case your alternative is well timed and velocity of service is required. You’ve simply received to know get began on the lookout for one, and what qualities to additionally take into account.

Attempt getting a referral for a Commercial Hard Money Lender. Whether or not it’s a mortgage firm, an actual property company, a title firm, or something associated–these folks are related to the and are working with sellers and patrons on a regular basis. Ask for a referral from them! Moreover, ask family and friends for referrals. Seemingly apparent, somebody near you’ll have already handled a professional Commercial Hard Money Lender and might fill you in and/or might know an organization during which you possibly can probably get a referral. Referrals are all the time a great way to begin enterprise.

Analysis on-line for a Commercial Hard Money Lender. You might not have any pals or household which have any referrals and you could not know any industry-related firms during which to get referrals– to not fear. You’ve received the World Large Net! Get on-line and begin your analysis, as there are many ample directories and choices. You might simply discover one proper in your yard or probably even nationwide. Take a look at their web sites–what work have they financed? Have they got examples? Does the web site look genuine? Are they in good standing? Can anybody vouch for his or her repute and their initiatives? If native, are you able to meet with a workers member face-to-face? These concepts additionally maintain true if a Commercial Hard Money Lender was referred to you as effectively.

Will Your Commercial Hard Money Lender Be There When You Want Them?

After discovering a variety for potential Commercial Hard Money Lenders, make certain that you choose one which will likely be there once you want them. Stage 4 Funding is a Commercial Hard Money Lender that funds private hard money loans for actual property traders, professionals, and owners. This staff of skilled professionals might help get you to get essentially the most difficult hard money loan mortgage approvals at the absolute best charges.

A Commercial Hard Money Lender Ought to Be There When You Want Them.

Mortgage Choices, Flexibility, And Pace of Service Proves That They Will Meet Your Expectations.

In terms of discovering and deciding on a Commercial Hard Money Lender, do your homework. Analysis on-line, ask for referrals, and verify them out intimately. When a financial institution says “no,” this sort of lender will be your finest buddy. Teams like Stage 4 Funding are skilled, have a number of areas, and might help with each business and residential mortgage loans with transparency, equity, and ease. Now, go make that deal occur!

Happy senior business man making his notes at workDennis Dahlberg Dealer/RI/CEO/MLO
Stage 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
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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Concerning the writer: Dennis has been working in the true property in some capability for the final 40 years. He bought his first property when he was simply 18 years outdated. He rapidly discovered concerning the wonderful funding alternatives supplied by trust deed investing and hard money loans. His want to assist others make money in actual property investing led him to focus on various funding for actual property traders who might have bother getting a conventional financial institution loan. Dennis is obsessed with various funding sources and sharing his data with others to assist make their desires come true.

Dennis has been married to his fantastic spouse for 42 years. They’ve 2 stunning daughters 5 wonderful grandchildren. Dennis has been an Arizona resident for the previous 40 years.