Dennis Dahlberg - It Can't Get Better Than This!: March 2019

Sunday, March 31, 2019

Colorado Private Money Lenders Aren't Private, Here's Why!

Colorado Private Money Lenders are an open book, answering questions and explaining the Colorado Hard Money Loan process so you can feel comfortable with your loan terms.

Gone are the days of dodgy hard money lending. Today’s Colorado Private Money Lenders are up front with what they have to offer, the fees associated with using a Colorado Hard Money Loan, and why or why not it would be the right option for you.

Colorado Private Money Lenders can fund investment opportunities based on different criteria than big banks can and because of that are a great way for people to get the money they need quickly. Here’s what you can expect, and should learn, from your Colorado private money lender prior to getting a loan.

Interest in Your Investment Project

Just as Colorado Private Money Lenders are going to be up front with you, you need to be up front with us. We have expectations in regards to your plans for your investment project and will ask questions in order to know if it’s the right investment for our money. Be ready to present facts and figures!

Flexible Credit Requirements

We won’t badger you about a low credit score or a previous foreclosure. We want to know what you’re doing now with your finances and if that enables you to be a good borrower who can repay your loan.

Up Front Lending Terms

Our lending terms won’t be run of the mill like traditional lenders. We have wiggle room to tailor the loan to your specific project. Flexibility is the name of the game and we are able to create a loan that will work for both you and us. We will also be very transparent with our lending terms so you can make a well-informed decision.

Clear Repayment Plans

We know the best way for a loan to be successful is for the repayment plan to be clear. That’s why we work to ensure our borrowers understand their loan fully and are comfortable with the plan put into place.

As a Colorado private money lender, Level 4 Funding is dedicated to meeting borrower’s needs. We want to make honest, transparent agreements with people who have a vision for their project and make sound investment decisions. To learn more about our funding opportunities, give us a call today!

Dennis 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

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Did You Know Owner Occupied Colorado Hard Money Loans Exist?

Colorado Hard Money Loans aren’t just for investors, owner occupied Colorado Hard Money Loans are here to help people buy the house of their dreams!

It’s common knowledge that Colorado Hard Money Loans are a great way for investors to get the funds for their investment projects. But did you know that owner occupied Colorado Hard Money Loans exist? It’s true!

There are two types of owner occupied Colorado Hard Money Loans. First, it can be used to purchase a home if traditional lending isn’t an option. Second, it can be used for investment purposes. Here’s the run down!

Owner Occupied Residential Properties

We know that purchasing a home through a traditional lender means tough requirements that not everybody can meet. What an owner occupied Colorado Hard Money Loan will do is enable a buyer to make a purchase with less than desirable credit until they can secure permanent funding.

Here are some reasons you may want to use an owner occupied Colorado Hard Money Loan for your primary residence:

Bad credit, recent foreclosure, or short employment history.

We can look beyond the traditional requirements to see the value you bring to the table as a buyer and we can create a loan tailored to your needs and have flexible repayment plans that can tide you over until you qualify for a traditional home loan.

Owner Occupied Investment Properties

Here’s another fact about owner occupied Colorado Hard Money Loans - you can use them to buy a multi-unit property, occupy one of the units, and rent out the rest! This is a great way to use real estate as an investment because not only will it provide you monthly income, but it’s an easy way to manage a property yourself and save costs on a property management company.

We here at Level 4 Funding have helped countless investors and buyers get the money to make the purchase they dream about. If you want to discuss how an owner occupied Colorado Hard Money Loan could work for your situation, give us a call today!

Denver is Booming and So Are Rentals

Rentals aren’t going out of style anytime soon. As an investor, rental properties are a fantastic way to bring in income. A Colorado rental property loan can make that a reality!

Denver is a hot spot for people who are looking to move to the mountains. Companies are buying up surrounding areas and bringing jobs, as well. All those people need places to live and renting is the way to go for some of them.

If you’re an investor, or want to become an investor, here are some tips for using your Colorado rental property loan to its maximum potential!

Know the Numbers

A rookie mistake that some rental investors make is to overestimate the value of their property. You may think that listing the property for a higher rent value means more monthly income, but that could lead to vacancies and price reductions that could hurt your bottom line. You want to know the area and the rent potential for your property like the back of your hand in order to be successful.

Understand Demographics

Renters are just as picky about the area they’re living in as buyers. They want to be close to shopping and transportation. For renters with families, they want to be close to good schools. Pick your properties strategically and in desirable neighborhoods to snag top dollar!

Don’t Over-Improve

Rentals are bound to need repairs and will have turnover so spending money on expensive upgrades isn’t the best use for your money. Instead hold onto that money for a new dishwasher if the old one breaks or to advertise for new tenants if you find yourself with a vacancy. Having a cash reserve is important for a rental investor and you definitely don’t want to put a large chunk of your Colorado rental property loan towards home upgrades.

If you’re choosing your properties strategically based on rental potential and location using your money for necessary upgrades rather than extra improvements, you’re on the right track to have great passive income from a rental property.

If you need a Colorado rental property loan in order to fund your property purchase, Level 4 Funding can do just that. Call us for more information today!

Saturday, March 30, 2019

What Makes a Good Investment Property?

Choosing an investment property is the first step to obtaining funds from a Colorado hard money lender. Here are some criteria you should be looking for to make a good selection.

Fixing and flipping is a great way to get cash as an investor. But how do you know which properties to choose? Many novice investors will make mistake when they choose their first properties and lose money on the project. Here are some things you’ll want to look for before applying to a Colorado hard money lender for your property!

Worst Property in the Best Neighborhood

As an investor you’ll want to know about the area you in which you want to make a purchase. It’s not a good idea to flip the best property in a neighborhood because the comparable properties in the area will bring your sale price down. You’ll want to choose a property that has good potential, but will be brought up in quality to match those around it to get competitive offers once it’s listed.

Don’t Go for the Money Pits

To go along with what we said above, you also don’t want to pick a property that’s going to be a money pit. You want it to be able to bring it up to the quality of its surrounding homes, but if that’s going to take far more money than you have, it’s going to dig you into a hole that can be hard to crawl out of. It can be easy to get sucked into a property that has ‘good bones’ and has the potential to be great, but if it’s not fitting into your budget then move along to the next one!

Unique Can Mean Harder to Sell

Another appeal to some investors is a unique property, meaning it’s different from the homes around it. Unique can be beneficial to a certain extent, but it can also deter buyers. Unique homes can cater to a certain audience and make it harder to sell. You’ll want a home that feels livable and appeals to the masses.

Once you’ve selected your investment property it’s time to put together your pitch for your Colorado hard money lender. That will include information like your rehab plans and finances for the remodel.

When you pitch your plan to a Colorado hard money lender you’ll be more likely to be approved if you’ve considered things like the area (schools, shopping, etc.) and the comparable homes in the neighborhood. The more prepared you are to present the information, the more sound your investment looks to your lender.

How to Prepare Your Investment Pitch for a Colorado Hard Money Lender

The best thing you can do when applying for a Colorado Hard Money Loan is to be prepared! Here’s the kinds of information a Colorado hard money lender wants to know before approving your loan.

When you approach a Colorado hard money lender about applying for a loan you want to come in prepared and ready to field questions about your investment opportunity. Below you will find a list of the things you’ll need to have ready for your Colorado hard money lender in order to be approved.

Property Information

Compile all the information you have on your property in an easy to read format including list price, location, and offer price. If you’re pitching the purchase of a commercial property you will want to have the numbers that show the potential income for the property, as well.

Improvement Plans

A Colorado hard money lender will want to know exactly what your plans are for the proposed property. This should include construction budgets, bid sheets, architectural plans, and any other information that will show you have a well-detailed plan for the improvements to the property.

Personal Financial Information

Because Colorado hard money lenders don’t focus as closely on the credit requirement they’re going to want to know about your personal financial situation. Be prepared to present income verification and bank statements in case the lender wants to review that information before making a decision.

Get Ready to Field Questions

Just as you are interviewing the Colorado hard money lender, they are interviewing you. You will need to be ready to answer questions professionally and quickly to show that you are equipped to use a Colorado Hard Money Loan.

If you spend the time to prepare for your presentation to the Colorado hard money lender it will show! If you have all of your documentation in order it will be easy to submit your loan request following your initial discussion. Level 4 Funding can make moves on loan requests and have them funded as quickly as a week. To learn more, give us a call.

Finding the Perfect Colorado Hard Money Lender

When you’re making a big real estate investment purchase you want to be selective about your Colorado hard money lender. Here’s how to find just the right one for you.

Most people wouldn’t purchase the first car they ever saw and test drove. Most people wouldn’t purchase the first house they saw without comparing it to others. So why would you go with the first Colorado hard money lender you find?

Research is the key to picking the right Colorado hard money lender for your investment project. Some Colorado hard money lenders will be picky on the location and property type. You can shop your project around to a few different Colorado hard money lenders before making your decision. Here’s a few ways to find Colorado hard money lenders.

Use the Internet

This probably goes without saying, but the Internet is your friend! Of course it’s easy to search “Colorado hard money lender near me” and pick one off the list, but the best part about the Internet is that it’s going to give you lots of information. You can find reviews from past borrowers and find out about their experience to see if it’s the right fit for you.

Attend Networking Events

If you have any experience in real estate you know that networking is key. This goes for lenders, as well! If you attend a conference or a meeting for investors you’re bound to meet some Colorado hard money lenders. You can also ask other investors in attendance if they have a recommendation based on their own experiences.

Interview Potential Colorado Hard Money Lenders

Once you’ve found a few Colorado hard money lenders it’s time to conduct some interviews. Some lenders may be more suited to experienced investors and some may specialize in commercial properties. By spending time getting to know their clientele and what they can offer you can feel comfortable pitching your opportunity for funding.

You can also speak with another more experienced investor and ask them what kind of questions they ask a lender before accepting a loan offer.

If you’d like to learn more about what we have to offer investors, give Level 4 Funding a call today!