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Wednesday, March 20, 2019

What are Arizona Private Money Lenders?

Most borrowers are not aware that Arizona Private Money Lenders are an option when seeking financing. Learning more about these lenders will provide borrowers with great options.

Arizona Private Money Lenders are non-traditional lenders who provide short-term asset-based loans for the purchase of investment properties. Hard money lender is another term for these lenders as is the more loose term of a non-traditional lender. In essence, these terms are all used for a private individual or small group of people who work together lending money to borrowers. Understanding the benefits of Arizona Hard Money Lenders services can provide a lot of options to borrowers who are not able to secure traditional loans.

One of the biggest benefits of private lending is that the loan approval is based more on the value of the property being used as collateral than it is based on the creditworthiness of the borrower. This means that Arizona Private Money Lenders are willing to grant loans to borrowers who have poor credit, no credit or who have other issues that cause them to be denied a traditional loan. This is also helpful for borrowers as they can easily determine the amount that Arizona Hard Money Lenders will loan on a property if they know the lender's loan to value ratio. This is the “magic” number that lenders use to determine how much they are comfortable lending. In most cases, Arizona Hard Money Lenders will provide borrowers with 75 – 80% of the current value of the property being purchased.

Knowing this, it is easy to understand why certain types of borrowers are a perfect fit for Arizona Hard Money Loans. Flippers who are only looking for a short term loan and short term investors are both a great fit for hard money. Longer-term investors also choose to use Arizona Hard Money Loans in some cases when time is a factor. They secure the hard money to close the deal and then they choose to refinance with a traditional loan to lower the cost of the loan and to extend the term of the loan.

Loan Terms

It is important to remember that as Arizona Private Money Lenders, these lenders do have the right and ability to set loan terms as they see fit. This can be a benefit if you are looking to customize your terms, but a drawback if you do not make yourself aware of the terms in your loan. The most common LTV is about 70-80% with an interest rate of 8-12%. The lender fees are likely to be between 1.5 points and 10 points. The typical loan is less than 5 years. The time to approve and fund can range from a day or two to just a few weeks.

Know Your Terms

The most critical aspect of any successful loan relationship is that you read and understand all of the terms of your loan. Knowing the terms will allow you to follow the agreement and avoid any penalties or late fees that could be written into the agreement by the lender.

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

Tuesday, March 19, 2019

Understanding What Arizona Hard Money Lenders Want

The world of private lending is not as similar to traditional lending as many borrowers are discovering. Knowing what Arizona Hard Money Lenders are looking for in a borrower can be very helpful in securing a loan.

First, it is important to understand that although Arizona Hard Money Lenders are regulated in some ways, they are relatively free to conduct their business as they see fit. This means that each lender can determine his or her own criteria for approving a loan as well as the amount that will be offered to a potential borrower. But borrowers should also know that there are some general standards that cover the expectations of most Arizona Hard Money Lenders.

As you might already know, hard money is a form of asset-based lending, which means that the value of the property being used as collateral is far more important than the creditworthiness of the borrower. However, no lender is going to completely ignore the credit history of a borrower. Borrowers need to be honest with potential lenders and admit to past credit issues while demonstrating an ability to make the payments on the loan that is being requested. This can be showing a steady income stream such as regular employment or revenue from a business.

All lenders are also going to want to see a detailed business plan for the project. This plan should include the current condition of the property, a list of renovations and repairs to be made, the cost of all work to be done and a schedule to complete the work. This framework will demonstrate to the lender that the borrower understands the process and has a solid plan to get the project completed in order to pay off the hard money loan. A final piece of the plan that is critical to many lenders is a contingency plan. This is a description of how you will continue to make the payments if the property does not sell on your expected timeline. Borrowers really don’t want to take possession of the property in a default, they want to get paid and move on to another borrower.

The Property Needs

The property being purchased is the real key to getting a hard money loan. The lender will want to know the current value and condition of the property as well as an estimate for the property after the improvements are completed. In addition, many Arizona Hard Money Lenders will do a little research on how desirable the property is. This is in the event that the lender needs to foreclose on the property and sell it to recover his or her investment.

Have a Plan for Success

Lenders are looking for borrowers who have both a solid plan for getting a project completed on budget and on time as well as the experience to actually get the job done. In addition, it is important for the borrower to have the means to make the loan payments even beyond the expected completion date of the project. Knowing what lenders are looking for will allow you to prepare your loan request in a professional manner and have the greatest potential for success.

Use an Arizona Bridge Loan to Get Rich

That’s right. You can use an Arizona Bridge Loan to get rich. This is not a joke. Just keep reading to learn how you can do it.

Before you read this, it’s important to know that you must have guts. You must enjoy the thrill of the risk.

If you’ve gotten past that part, you’re ready to get rich. You must follow this closely.

Start with the Arizona Bridge Loan

Contact a Texas Hard Money Lender to ask about an Arizona Bridge Loan. Get all the information you can about it, including what you need for approval.

Usually, all you need for this type of loan is property with equity. That will secure the loan.

You do not need to worry about credit scores, income, and or money in the bank. You simply just need the property.

Invest the Money

Once you get the money, which will be in a couple of days after approval, it’s best to invest it in something that gives you a quick return. One option is real estate.

Flipping homes is a lucrative option that doesn’t take much time to do. Find an auction for foreclosures. Research the homes that are going to be auctioned off, and how much they could go for in the neighborhood they are in. Bid a reasonable amount - less than what you can sell it for in the near future.

Sometimes, you’ll have to do some cleanup and minor repairs. Do those tasks as quickly as possible and get it on the market. Work hard to sell it at top dollar.

To put numbers behind all of this, if you purchase a home for $95,000 and flip it for $150,000, you end up with a $55,000 profit. You pay off the loan plus interest and still have tens of thousands of dollars left over.

Do it again. Do it all again. Profit another chunk of money.

Do it again.

Some people will get another loan to be able to invest again, and that is okay. Over time, the profit will add up and then that will pay for the investment itself.

You will learn which houses will turn a better profit and only invest in those. You will also quickly learn that this type of investment turns money quickly and you will see your bank account increase.

It all starts with an Arizona Bridge Loan.

Start with the loan. Invest from there. The profit should pay off the loan and put profit in your pocket. Repeat.

Get an Arizona Bridge Loan from Us

We are the experts in helping people get rich. Contact us today to learn more about our loans and how they can help you. Are you ready to make some money?

What You Need to Know About Arizona Hard Money Loans

Knowing that Arizona Hard Money Loans are privately funded loans is a good start. But you need to also know the terms of these loans to use them successfully.

If you are researching Arizona Hard Money Loans, then you most likely know that these are short-term loans that are offered by private lenders. But that is only the beginning of the information that you need to know to fully evaluate these loans and determine if hard money is the best option to meet your financing needs. These terms of these loans are quite different than those of traditional loans as are some of the costs and fees associated with hard money.

The first factor to consider is how much money you can actually borrow on a specific property. In most cases, lenders will consider loaning between 70-80% of the value of the property. This loan to value number is important to the lender because it represents instant equity in the property and added security to the lender. If you, the borrower, default on the loan then the lender can take possession of the property knowing that it is worth at least the balance of your loan and in most cases more. On the upside is the fact that this money can often be in your hands in as little as a week or two when working with a hard money lender, rather than the 45 to 60 days that it takes a bank to fund a loan.

Knowing how much you can get and how quickly you can get it leaves one more big question. You should understand that hard money is going to cost you more than a traditional loan. The interest rate is going to start at about 7% for a strong deal and a borrower with good credit. For more risky deals and credit challenged borrowers, the rate can increase to as much as 15%. In addition, most lenders will charge anywhere from two points on a simple loan to ten points on a more challenging Arizona Hard Money Loans.

Qualifications and Documents

Although the criteria for hard money is not as stringent as a traditional loan, there is a certain amount of information that you will need to prepare for the lender. A few personal bank statements will be required as well as a credit score of 550 or better. The higher your score the better your loan terms and rates will be in most cases. You should also provide a copy of the purchase contract, a contractor bid with the scope of work, a list of your past projects and other basic information about the project that will show its value and the potential of the renovated property. You will also need to have the down payment available as well as any fees and upfront costs associated with the loan.

The Hard Money Alternative

Arizona Hard Money Loans are a good alternative resource for many borrowers who are credit challenged or might be making several concurrent purchased as real estate investment properties. But as with any other tool, the user must have a full understanding of the function and benefit of the tool. Be certain that you carefully read and understand all of the terms of any loan offers. This information will allow you to make a well-informed selection for the loan that best meets your needs.

Monday, March 18, 2019

Get an Arizona Bridge Loan When the Bank Says No for a Loan

If the bank has denied you for a loan, you can still get an Arizona Bridge Loan. Learn all about it here.

Banks are notorious for denying people loans. Their qualifications for loans are just too high. They want really good credit scores, almost just as much money needed in the bank, and decent incomes. People who need a loan often don’t have that criteria, so that doesn’t help them at all.

The good news is that people who don’t get approved for a bank loan can turn to Private Money Lenders in Dallas Texas. These lenders are not part of banks or financial institutions. They are simply private lenders who have money to loan to people who need it.

About Private Money Lenders in Dallas Texas and Arizona Bridge Loans

Private Money Lenders in Dallas Texas offer Arizona Bridge Loans because they want to give people the money they need when they need it. They do not look at credit scores. They don’t care how much income you have, or the amount you have in the bank.

People just need property with equity to secure an Arizona Bridge Loan.

Yes, it’s true. You just need have a piece of property that has equity to get a loan.

The loan is usually a short term one. This means 12 months. There are some Texas Hard Money Lenders who will extend the term to two years or up to 5 years, but it really depends on who you go through.

The great news is that with these loans, you don’t need to deal with a lot of paperwork. You also don’t need to worry about waiting weeks for the money.

These loans can be approved within hours or a day. The money can be deposited in just a couple of days.

An Arizona Bridge Loan purpose is to do exactly what the name implies - bridge the gap of having no money. When you bridge that gap, you can help yourself get out of financial troubles to pay back the loan and start doing better.

You can use the loan for anything you would like. Some people will use it to buy rental property, so they can start making a lot of money. Others will use it to grow their business by buying a new location or a bigger one. How you use it is up to you.

If you’re ready to get a loan that isn’t part of a bank that will just deny you, contact us. We are a private money hard money lender. We have these loans available for you.

Contact a Texas Hard Money Lender

All you need to do to get an Arizona Bridge Loan is to contact a Texas Hard Money Lender. This lender will ask you some questions, and in just a few hours, you may receive word of the approval.

If you have any questions, you can ask them during the interview. Don’t worry - they have heard all of these questions before and will answer them fully, so you understand how the loan works.

Buy a Rental Property with Commercial Texas Hard Money Lenders

Buying a rental property is a huge expense, but when the return on that investment is good, you should do it. To get the money, learn how commercial Texas Hard Money Lenders can help.

There are so many possibilities when it comes to the real estate market. People are buying properties left and right and then renting them. So many people are struggling with bad credit and the inability to pay down payments that they simply can’t buy their own home. Instead, they rent, and that’s why people are picking up rental properties faster than ever.

One of the biggest challenges that investors face when thinking of buying a rental property is where they are going to get the money. They don’t have the money in the bank, but they know they can make good money if they can just get their hands on a property.

This is where commercial Texas Hard Money Lenders come into play.

How Commercial Texas Hard Money Lenders Help

Commercial Texas Hard Money Lenders help by providing a lot of money to people who don’t have good credit or a lot of money in the bank. They don’t even care if your income isn’t great. All they want to secure the loan is property with equity. If you have that, you can get a commercial real estate loan.

When you get the loan, you can buy that property you have your eye on and rent it out. As you make money from the rent, you can start to pay back the loan. Most people pay back the loan within 12 months. Longer loan terms are possible, so if you need more time, you can simply ask for it.

Commercial Texas Hard Money Lenders are passionate about helping people make money.

Texas Hard Money Lenders do not want to take advantage of people. They simply want to help them get the money they need to make more money. There is interest on the loans, but that interest is how Texas Hard Money Lenders stay in business. If they didn’t have that, they wouldn’t be able to help people.

How to Get Your Own Commercial Hard Money Loan

Contact us if you are ready to make more money in life. You can use the loan to buy property that you can rent out for more than what you owe on your loan each month. With that, you’ll be able to pay off the loan and then each money, the rental money will be profit.

We will answer all of your questions. There isn’t a ton of paperwork to do, and you’ll get an approval notification within a day - usually a few hours. If approved, the money could be in your bank in a couple of days.

Go ahead and contact us. This may be your chance to finally get out of the financial troubles you’re in right now.