What kind of California Hard Money Loan Do You Want?

There are two different kinds of California hard money that is available to you. Both are exceptionally similar, but they each have different benefits to the borrower. The two types of California hard money are Hard money lender California and private money lender. It is easy to get confused by the two, they are both practical kinds of loans, but the following will explain how they are different. 

It shouldn’t surprise you to find out that hard money lender California and private money lender California are both based on assets and have more to do with the real estate you want to invest in than with your credit score. These are both also loans that are not bank affiliated, so they are easier to obtain than your traditional bank loan.

However, hard money lender California and private money lender California do have some differences. For example, hard money lender California happens to be a group of people, while private money lender California is just one individual who gives out the loan. Typically, with a private money lender California, you know the person loaning you money, but that isn’t always the case with the group of investors in a hard money lender.

Both loans have quick turnaround despite their higher interest rate, but because of this quick turnaround, the interest rate makes little to no difference. The loans are also more flexible than your traditional bank loans, especially when you use a private money lender California.

Consider these types of loans as you decide on rehabbing a property. It could make all the difference to your project and stress you out far less in the interim. Consider the flexible and safe Arizona hard money loans. Whether you go private money lender California or hard money lender Califonia, you will be happy with the outcome.

 

California Hard Money

Califronia Mortgage Broker

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

 

623-582-4444

 

How to Make Money With a California Fix and Flip: Renovation Tips From Hard Money Lenders California Investors Trust!

If you are looking to do a renovation on a fix and flip house and want to make a profit, you need to know that certain renovations will get you more bang for you buck than others. Take it from the experts, hard money lenders California rehabbers trust!

Most real estate experts know that Texas hard money lenders are there when investors need to purchase a fix and flip property. With liberal lending practices and little emphasis on FICO scores or personal finances, it is hard money lenders CAlifornia investors turn to to purchase investment properties.

Hard money loans are short term, asset based loans that can be used to purchase investment properties. Most commonly, they are used to buy foreclosure or auction properties at a good price that are then fixed up and sold for a profit. With years of experience in the fix and flip business, hard money lenders know what will help a property sell and what will not.

Top 3 Renovations Recommended by Hard Money Lenders in California

If you are looking to get the most bang for you buck, here are the top three ways to spend the cash from your hard money loan to make the most profit on your fix and flip.

 

1. Fix any major problems. When it comes to buyers looking for a turn key home, take it from hard money lenders California experts trust for loans and more, no one wants to see work. If you buy a home and it needs a new roof, make sure to put one on. The same goes for major systems like the HVAC or water heater.

 

2. Paint. Pick a nice neutral paint color and it will help attract buyers. If you need ideas on color, anything from beige to grey can look great. Don't pick anything too taste specific because, according to the  hard money lenders California pros turn to, you want to home to appeal to a broad base of buyers.

 

3. Home staging. Investing a little in staging a home can pay you back big time. Staging makes the house look like a home and helps buyers picture themselves living there.

Take it from the hard money lenders California flippers trust, these small improvements go a long way!

When you are ready to take the plunge and buy a fix and flip, make sure you turn to Texas hard money lenders to help you along the way. You will be glad you did!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
dennis@level4funding.com
www.L4f.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.

 

Benefits of Finding the RIGHT California Hard Money Lender

Researching California Hard Money Lenders

Discovering an California hard money lender can seem like an intimidating task. In reality, you could be so deep in financial hardship, it's taking all your strength to keep your head above water. When you don't have anywhere to turn, California hard money lenders are there for you. After you locate the appropriate hard money lender for you, they could loan you the money you need in as little as 24 hours and set you on the course to economic freedom. There are a couple of methods to find the appropriate Arizona hard money lender and it is your responsibility to find the right one for you.

Initially, you have to determine the kind of hard money you are looking for. Are you a business owner wanting hard money? Or are you an individual who is thinking about a residential hard money loan? Choosing which class you belong to is the first step to take into consideration before looking more.

At that point, you need to crunch the numbers and decide exactly how much money you are in need of. Bear in mind that California hard money lenders will loan you up to 80 % LTV (loan to value), yet this quantity will probably be closer to 65 %. Keep your expectations somewhere in between that area and then begin your research. You most likely already have your investment in mind, so do the math. Don't request more than you actually need so you can keep your debt as limited as possible.

Finding the RIGHT California Hard Money Lender

What better way to begin than with everybody's tried and true method of research? You do not even need to get off the sofa-- just start with the internet. Use a search engine such as Google or Bing and enter the words and location you are looking for a hard money loan in. For instance, if you planned to find a lender in your region, you might type "California hard money lenders." Undoubtedly, several hundred (if not thousand) internet sites will pop up. This could be kind of frustrating if you are wanting to find the right lender quickly. Click on some of the websites near the top of Google and compare and contrast what you see. Make a few lists of items that seem legit to you and also keep track of those that seem a little sketchy. It isn't a lot of to ask to have your hard money lender have a legitimate looking internet site if they are going to be managing your funds.

One of most crucial things to bear in mind is that if it appears too good to be true, IT IS! Don't do anything you feel uncomfortable with, even if it looks like an excellent offer. Rely on that gut feeling of yours, even if it lender you select has somewhat greater interest fees. Don't allow your financially troubled circumstances lead you down a course that will be wrong in the long run.

When you find a usable lender, look up some client reviews. You could discover a lot about a lender by merely reading what other individuals' encounters have been like with them.

Dennis Dahlberg

Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444

Texas Tel:      (512) 516-1177 

Dennis@level4funding.com

www.Lff.info

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

Commercial Mortgage: Advice For Your First Loan

Is this your first time financing a  commercial mortgage? If so, you don’t have to go at it alone.

An investment property can be a big step for you or your company. Thus, like any other big step you probably want to know just what you are getting into of course and why shouldn’t you? Signing up for a commercial mortgage for the first time is always the hardest. In other words, you’ve more than likely talked a good game about purchasing that strip mall, office park or hotel. But, you’ve probably never seen it through until now and that’s perfectly okay. Before, it was a future dream and bow you are ready to make it a reality so let’s help make that happen.

By now, you probably have your eye on a few good properties, but before you start shopping around for your commercial mortgage, there are definitely a few things you need to do. For starters, stop whatever you are doing this minute and check your credit—double check it, in fact. Your credit and your credit report don't  matter. Chances are you have some issue you need to address or clear errors that you didn’t know where affecting your ability to be a strong borrower in the eyes of your future lender. Thus, this is the very first piece of advice you should take —check your credit and thoroughly review your credit report. If you do have a few outstanding issues that you want to take care of before applying for a commercial mortgage do that, but do not close out any old account, at least not before you obtain your loan. Knowing what your credit score will help you determine if you need an investor partner and it will also help you narrow down your loan options.

Other pre-applying tips that you take advantage of for your first commercial loan include having a down payment of at least 20 percent down or consider a second mortgage if the term down payment scares you and exploring your borrowing options i.e. there are more than banks that are interested in helping you finance your commercial property. Lastly, don’t be afraid to ask about owner financing—it may be just what you need.

The Difference between Wanting to Apply for a Loan and Applying

Clearly, looking at a few properties and checking your check and figuring out your down payment situation are all a part of the game, but there is a difference between wanting to finance an investment property and taking the next step—applying for financing. Thus, when you are ready to apply for your commercial loan make sure you truly understand the numbers, have the necessary documentation on-hand, have the necessary people on board ( accountant, investors, attorney and so on) and try your best to get pre-approved. In doing all these things your commercial property is that much closer to being yours.

Hello Investment Property!

Once you’ve obtained your mortgage for your investment property, it more than likely full-steam ahead. Ultimately, this is an exciting time and a true chance to learn as you go!

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

Commercial Hard Money Lenders: Who We Are and What We Offer

You may be new to the commercial investment property business or you may be a seasoned vet. Regardless of which category you fall under you need to check out commercial hard money lenders and see what they have to offer.

Commercial hard moneylenders are generally non-banking institutions i.e. private individuals or small groups that solely provide fast financing for such individuals as house flippers, developers and so on. Typically, most people that venture into the world of commercial real estate and investment properties are familiar with the term hard money. But, more than likely do not know exactly what a hard money loan is. This may sound strange, but the fact is unless you are in the business of flipping houses or a developer, hard money is a hard concept to follow.

In other words, you are not alone when asking the question just who exactly needs hard money? Moreover, how does hard money differ from standard financing? Well, the obvious answers are listed above. But, the in-depth answers are that hard money is for individuals who for a variety of reason cannot qualify or obtain conventional or rather standard loans/ financing and hard money differs from standard financing because there is simply less red tape.

All in all, this may sound like these particular individuals have bad credit or are just from a bank standpoint a bad investment, but the truth is this isn’t always the case. Nine times out of ten, the people that need hard money are those that need to move quickly on a property and often times need to borrow the full purchase price. Consequently, these people are often far from a “bad investment” as most commercial hard money lenders require their borrowers to back up hard money with real assets i.e. the collateral and credit are often more than there. In reality, it is often the banks that simply cannot move at the required speed necessary to allow the borrower to make a profit.

The Benefits of Hard Money

The clear benefit of hard money loans is that they are readily available. In fact, if you are able to find a few reputable commercial hard money lenders in your area, you can have the necessary financing in less than a couple of business days. Furthermore, due to the required turnaround time with hard money loans near perfect credit is simply not high on the list of borrower requirements and you are also not dealing with the standard processing team that comes with banks or conventional loans. Thus, this means you can get what you need when you need it without the hassle of dealing with a half a dozen people and jumping through a half a dozen hoops.

Commercial Hard Money Lenders can Offer a Helping Hand

Ultimately, dealing directly with your lender and having access to the money when you need it (within the timeframe you need it in) is what hard money is all about. Moreover, working with these particular niche lenders when you first start out means you can build your investment business much faster than you could without their assistance.

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

Commercial Hard Money Lenders: How To Get Your Loan To Close Swiftly

One of the worst parts about applying for any loan, not just one from commercial hard money lenders, is the time it takes to get it approved. The following are a few tips that can help you get your money faster.

One of the most frustrating parts about applying for a loan can be the time it takes to get it approved. Here you are, ready and raring to go, but you can’t do anything until you have some money. With commercial hard money lenders, the time is often a lot shorter since they do not have the same strict requirements as banks do.

However, that is not to say it can’t feel like it is taking too long for the lender to say yes. But if you want to do what you can to expedite the process there are a few tips you can follow.

How To Get Your Commercial Hard Money Lender To Approve Your Loan Faster

The tips may seem simple, but when you are working on getting a loan to help keep your business going it is easy to forget something that may seem like it should be second-nature:

1.    Do your homework. Find out what documents your lender is going to require before you start the process. So that way when the lender asks you for something, you will have it on hand.

2.    Don’t go overboard on documentation. People often like to work with the notion that it is better to have too much rather than not enough, but in this instance, that isn’t necessarily the case. You are better off sticking with only what the lender has requested. Keep whatever you do have on hand in case the lender wants it as they go over your application.

3.    Be ready for anything the lender may want or request. Maybe you know someone who has been shot down by this lender or perhaps you were not approved by a different lender. This, of course, only means something if you took care of the issues that got you rejected before applying again.

It may seem hard to believe, but people can forget to be prepared. But if you want to make sure nothing holds up your loan, do your homework, be prepared for anything, and don’t overload your application with paperwork.

4.     Be Nice To Your Lender. As kids, we get tired of hearing our parents, teachers, and counselors tell us to ‘kill ‘em with kindness’ but it is great advice. People are more apt to work with you and try to make something go smoother and quicker if you give them the respect they deserve. Commercial hard money lenders make money by approving loans and then making sure you pay them off in time.

They don’t want to make things harder or foreclose on you. Doing so only ensures that they do not make money or possibly even lose money. That being said, no one is going to go the extra mile for a rude person.

So mind your manners when dealing with your commercial hard money lender and the process—from beginning to end—will likely be easier and more pleasant for everyone.

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

Commercial Hard Money Lenders: How To Get A Loan With Rotten Credit

Rotten Credit Keeping You From Getting A Loan? Try Applying With Commercial Hard Money Lenders!

Poor credit can prevent many from even applying for a commercial loan, but it doesn’t need to. There is an option that is still available through commercial hard moneylenders.

People make mistakes with money. It happens. You don’t mean to (or maybe you did). Sometimes life just throws too many problems at you, and you couldn’t see another way out—or maybe you and your credit card were the life of the party in college.

So you developed bad credit while you were in college or your younger years. Now you are a responsible, hard-working adult that just wants to open your own business and be your own boss. It’s the American dream. Too bad your rotten credit rating is keeping you from getting approved for a traditional commercial loan.

But there is a solution to your problem—commercial hard money lenders!

What Is A Commercial Hard Money Lender?

Don't worry--you are not dealing with your local loan shark. So you don’t have to worry about someone trying to take out your kneecaps if you miss a couple of payments. No, commercial hard money lenders are legitimate, private individuals or companies that loan money to people and businesses with rotten credit who can’t get approved for a traditional loan.

Loans are secured by commercial property and will have higher interest rates than conventional loans. Since there is more risk involved for lenders, they can charge higher interest rates. It is not unusual to see a lender charge 11-13 percent and three points.

If you want to go into business for yourself, it is a cost you have no choice but to accept. You may hesitate because you don’t want to risk having your business foreclosed on, but lenders don’t want to foreclose on your property if they can at all avoid it. When they do, it is not unusual for them to lose money—and no one wants to lose money.

Beware The Fees And the Dreaded Balloon Payment!

Commercial hard money lenders are not going to be willing to wait 10-30 years to get their money back. They give short term loans; typically for a year, but maybe as long as three years. With the interest rates being as high as they are, if you can, it is not a bad idea to try and pay the loan off early—that is, unless there is an exit fee or prepayment penalty.

While it may sound strange to be penalized for paying a loan off early, lenders make money when you pay interest. If you pay the loan off early, you don’t pay as much interest. So to recoup this loss, some will charge a prepayment or early payment penalty.

Some will even charge exit fees whether you are paying the loan off early, late, or on time. This way lenders make a little more money off of you.

You will want to know if your loan has a balloon payment at the end. Where these can sting is if you are paying your loan off late, like many hard money loans often are. So along with the balloon payment you get stuck with a hefty late fee making it even more difficult to get the loan paid off.

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