Thursday, February 21, 2019

How to Read Search Results for Arizona Hard Money Lenders

When it comes to finding Arizona hard money lenders, maybe youre overwhelmed by your search results. Learn how to read between the lines of a lenders web page so you can find the help that's right for you.

The first step in reading a lender is finding one first. Because it is the 21st century, Google "hard money…" and before you know it, you should have plenty of results. Make a list of potential lenders in your area, but before you read the lenders’ websites, read some customer feedback and cross lenders with negative or with little to no customer reviews off your list.

After narrowing down your list of potential Arizona hard money lenders, find lenders whose recent deals match your specific vision.

You've found several lenders who have decent customer feedback. Should you go ahead and apply? No, you've got a bit more reading to do to narrow your list further.

Check to see if your potential lenders have a list of recently funded deals. Do the properties match your vision? If you intend to flip a house, you should not approach a hard money provider who specializes in commercial properties. You want a lender who can offer insight when it comes to your specific project. Find lenders who specialize in funding your specific investment and then look out for some red flags.

When it comes to reading Arizona hard money lenders, don't ignore these red flags

• Read initial terms offered. Beware of pie in the sky deals. If a lender's initial terms are too good to be true, more than likely, they are. Avoid lenders whose conditions aren't anything close to what you've found on other hard money websites.

• Read the lender’s basic qualifications. If all that's needed to close your deal is your name and a handshake, be wary. Reputable hard money providers will at least glance at your basic financial situation. If a lender sets the bar so low that just about anyone can qualify, more than likely their only interest is in collecting your interest payments. Erase lenders off your list whose standards don't match the standards of other lenders.

• Read the lender’s website, but don't just look at the words. Is a potential lenders website well-designed, professional and appealing, or does it like it hasn't been updated since 1997? Cross a line through lenders whose websites are poorly designed and don't offer a lot of specific information.

• Read the lender’s physical location. If a quick Google search for "A2Z Hard money's," address reveals that their offices are located in a car wash in New Mexico, beware: you might end up laundering money for Walter White. Cross out lenders who don't have a physical office.

After following these steps, you should have a list of lenders who:

1. Have decent customer reviews.

2. Specialize in the type of project you want to pursue.

3. Have reasonable loan terms and borrower standards.

4. Have a professional website and a physical office.

You can perform all this due diligence from the safety of your laptop. Learning to read your search results for "hard money," will save you time and effort while protecting you from sheisters.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLCDennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
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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