Tips to Make Money as a Landlord With Texas Hard Money Lenders

Many people are taking loans from Texas hard money lenders and investing it in a rental property. Being a landlord can be very lucrative, as long as you know the industry and neighborhood well. 

Texas hard money lenders can provide you with the upfront funds you need to secure a property that you wish to convert into a rental, but it’s up to you to turn it into a cash-flowing business.

Here are a few tips to make being a landlord lucrative for you!

1. Scout the neighborhood. Some areas can be deceiving. Make sure you find an area with good schools and desirable amenities. Drive around and check out an potential rentals and their surrounding areas to make sure they are a good rental property.

2. Choose a property that needs cosmetic repairs. According to Texas hard money lenders, doing minor repairs will help you get the most bang for you buck. Just don't bite off more than you can chew. 

3. Use an appraiser to get a rough idea of property values and potential rental incomes. This will help you decide if the property you are considering is a good investment.

4. Don't shy away from commercial property. Often being a commercial landlord can be less of a hassle and generate more income than being a residential landlord. With Texas hard money lenders, you can get commercial real estate loans. 

Is Becoming a Landlord Using Texas Hard Money Lenders Right for You?

The choice to become a landlord shouldn’t be taken lightly. It requires a lot of planning and strategic thinking in order to turn it into a successful venture. However, once you have the initial work done, it’s generally just a matter of keeping up with regular maintenance around the home and troubleshooting any issues your tenants have. Although it isn’t truly residual income because you have to make sure the house remains in proper form, it’s often a very laid-back job that doesn’t require too much attention. Most of this comes down to excellent planning and choosing the best tenants.

Is Getting a Helping Hand from Texas Hard Money Lenders the Best Way to Become a Landlord?

There are many paths that can lead to the same outcome- obtaining a rental property. However, banks will look at your credit history, income, and other details to see if you qualify for a loan. Texas hard money lenders mostly focus on the value of a property, and the funds they provide can kick off your entrepreneurial start. If you have a strategy for how to obtain a long-term mortgage after the term ends, or you’ll be able to pay off the debt in its entirety, it could make the whole process much simpler. It’s always advisable to get the opinion of an expert before delving into things, but in the end, you’ll have to weigh the pros and cons for yourself.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

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

  

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

With Swift Hard Money Loans, Texas Investors Profit

There are many benefits to hard money loans Texas investors take advantage of. With fast approval, swift access to funds, and many repayment options, Texas hard money lenders are there to lend a helping hand when you need them. 

If you are a real estate investor, there are many benefits to hard money loans Texas investment pros will vouch for. One main benefit is that Texas hard money loans are asset based loans. What this means for you is that your personal finances don't matter, only the merit of your real estate investment idea. Many investors are self employed, which often means that their credit score is a bit lack luster. Personal loans as well as business loans can also over-extend your debt to income ratio. But, with hard money loans, Texas investors don't have to worry about this. Your hard money loan is based entirely on the property you want to purchase and your FICO score does not matter.

In addition to being independent of your personal finances, Texas hard money loans are fast. The application process does not take long and you can usually have your hard money funds in a couple days, and sometimes even less. This is great news for investors! This benefit of hard money loans, Texas investors rely on can help you purchase homes at auctions or foreclosures. Fast access to cash funds can make your offer more appealing and can give you a better chance of getting a great deal.

Tips and Tricks for Getting Hard Money Loans Texas Investors Swear By

If you want to get a hard money loan, you need to be prepared before you go to your lender. Here are a few tips from seasoned investment veterans to make sure you get the loan you need. 

1. Have a plan. Choose a property, do your research, and make sure you explain to your Texas hard money lenders why they should bet on you. 

2. Have an exit strategy. Make sure you have a timeline as well as a reasonable target price for selling your investment property. Make sure your Texas hard money lenders know when they'll be getting their investment back.

3. Be realistic. Give yourself some cushion on both your time line and budget. 

With these tips and a little hard work, you'll be getting hard money loans Texas investors trust in no time!

Once you have gotten your loan, it's time to get to work with your investment project. Completing the project on time and on budget will help make sure both you and your Texas hard money lenders prosper. 

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | 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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Hard Money Lenders in Texas Sound Off: How to Make Money as a Landlord

If you can, owning an asset like a rental property that has the potential to make money is a better financial strategy than owning an asset like a primary home that only generates expenses. So, being a landlord may sound ideal, but there are a lot of moving parts that you need to make sure you are ready to handle. With these tips and tricks from hard money lenders in Texas, you can use expert advice to help you decide if you are ready to start collecting rent checks. 

Being a landlord can be a great job. You can make money by owning and maintaining property. Often, you can generate more income as a landlord than you can make at a traditional, paper pushing 9 to 5 job. However, there are risks involved in being a landlord. Namely, you need to make sure that you are able to make enough money. For example, if you need to generate roughly $50,000 a year in income, that means you need to make over $4,000 a month after expenses. For new landlords and novice investors this can be a lot of pressure. While being a landlord is not for the faint of heart, hard money lenders in Texas urge you to give it some thought and decide if could be a lucrative profession for you.

The Pros Weigh In: How to Make Money as a Landlord According to Hard Money Lenders in Texas

In order to make money as a landlord, you need to have a few tips and tricks up your sleeve. Here are the essentials according to hard money lenders in Texas.

• Ask yourself, do you like to "do it yourself?" Repairs can add up so being handy will help you save money rather than needing to contract out each and every maintenance job. 
• Do you know people who can help? Having a reliable plumber who will give you a discount can mean the difference between sinking or swimming as a landlord.
• Do you have the right financial expertise and backing? This is where hard money lenders in Texas can become invaluable assets. With a variety of non-conventional loans they can help you get loans for multiple income properties if that is what you need. 
• Make sure you keep accurate records. Any money you spend on a rental property can be deducted on your taxes. Whether it is an office expense, maintenance expense, cleaning, or equipment, you can write it off. 
• Make sure you like dealing with people but aren't afraid to be firm. You will spend a large portion of your day talking to tenants. Make sure you want to interact with people all day and that you won't be duped by their sob stories about why their rent is late. 

If you are up to the challenge of being a landlord, hard money lenders in Texas are there when you need them for all of your financing needs.

To learn more about getting your finances in order and securing a loan for income properties, contact hard money lenders in Texas today! You will be on your way to collecting a rent check in no time!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | 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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.