Beretta Only: December 2018

Monday, December 31, 2018

How To Pick Hard Money Lenders in Arizona

Even when you are new to the world of hard money lending, you are certain to have had experience selecting business partners and associates. Thinking of Hard Money Lenders in Arizona as finance partners can make the selection process less difficult.

It is very understandable that a borrower is a bit nervous when asking someone for money, even when the person is in the lending business. Naturally, you want to make a good impression. But you also need to remember that you are going to be the lender's client and as such, you should always be treated with respect and professionalism. It can also be helpful to view Hard Money Lenders in Arizona as business associates or partners to reduce your anxiety level. You are both providing what the other person needs or desires, so the desire for the business relationship is definitely mutual.

And as with anyone whom you how to cultivate a long-term working relationship with, you will look for certain qualities which are important to you. Some borrowers prefer to have a local lender who will meet face to face while others just want a lender that will respond to a text or email in a timely fashion. If possible, try to invest about 10 minutes on a phone call just to get a feel for speaking to each lender and as an overall gauge for how well you might work together. It can also be helpful to have a list of several questions that you ask each lender to get an idea of their expectations and processes.

It can also be helpful to check out the Hard Money Lenders in Arizona that you are considering with the Better Business Bureau and any other local message boards for lenders or financing. Most Hard Money Lenders in Arizona will provide you with some basic information when you first contact them and in those documents could be a list of previous customers. If you have questions about the responsiveness of the lender or how easy they were to work with after they funded a loan, then customers will give you some great inside information.

Get It In Writing

Legitimate lenders will have nothing to hide and will be happy to disclose almost any information that you might request. After all, they are in business to make money and that only happens if they are funding loans, so they want you to be comfortable and ready to commit to the loan. Ask for a complete written list of all fees and charges that you will be expected to pay during the application process as well as the life of the loan. This will allow you to compare the total cost of all loans from all lender on a level playing field.

Find Your Balance

Most new real estate investors are on a tight budget and almost always pick the cheapest loan. But there is a lot to be said for finding the balance of service, compatibility, and affordability that work for you. Only by meeting all of those criteria will you have the potential for a successful long-term relationship with a lender.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC 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.

Warning Signs Of Bad Hard Money Lenders in Colorado

Hard Money Lenders in Colorado tend to have a less than great reputations because most borrowers do not understand who they are or what they do for a living. But there are a few warning signs that can steer you away from potential scammers.

Getting a traditional loan is simple in that you go to a brick and mortar bank location or a website and you know that you are dealing with a legitimate lending institution which is federally regulated. But Hard Money Lenders in Colorado are not as easy to locate as a bank or mortgage company. And you might not be able to tell legitimate Hard Money Lenders in Colorado from scam artists unless you are familiar with a few signs or giveaways that will clue you into the truth.

Every borrower wants to find a good deal and feel like a savvy business person, but there is a limit to what you can expect. Lenders are in business to make money and if the deal looks too good to be true then it probably is a scam. Some scams will actually loan you money but at a much higher cost than they initially explained to you. You will find that there are many hidden fees and even an increase in the interest rate under certain conditions. Get everything in writing when you are quoted a cost for any loan. Other lenders will claim very low rates and no additional fees after you pay a high application fee. Those are scam artists who will take your money and personal information and never be reachable again. Not only do you lose your money but they are also likely to try to steal your identity.

It is also smart to beware of new lenders in town. If the lender has no history then it is likely a person who collects application fees and then quickly changes business names to scam more potential borrowers. Check out every lender with the Better Business Bureau in your area and other agencies who oversee lenders in your state.

Read The Fine Print

Any legitimate lender will be open to providing you with a complete copy of the loan documents before you sign them. It is always wise to have loan docs reviewed by a legal professional. This gives you the opportunity to ask questions about your legal rights and what is expected of you if you sign the loan document. Less than reputable lenders will add in clauses about a single late payment being grounds for default or a huge increase in your interest rate. Invest the time and money to get a second set of knowledgeable eyes to look at all legally binding agreements before you sign them.

Pay Attention

Most people can very quickly evaluate how well they will work with a person they have just met. In the end, you are selecting a person who you hope to work with on many projects and for many years during your real estate career. So take the time to make a solid assessment of each of the potential Hard Money Lenders in Colorado, and then select the one who best meets all of your needs.

Saturday, December 29, 2018

Things to Consider When Building a Spec Home

Many elements must come together to build a spec home successfully. Spec Home Financing in Arizona with Arizona Hard Money Lenders can help you fund your build, but there are still things for you to consider in the construction process.

When building a home, there’s more to consider than you might think. Each element should be thoughtfully chosen to ensure you get the home value you’re hoping for. Location, lot, design, floorplan, and unexpected costs are all important pieces of the construction puzzle and should not be overlooked. Keep each of these factors in mind as you build to ensure quality home value and construction while staying within your budget.

Location

Especially important for home resale value and living conditions, location is a huge part of a home. Think about your goals for the home and take that into consideration when searching for building locations. If you want to build a family home, perhaps search in neighborhoods by schools or parks. To make more money from the sale, choose a neighborhood or city that will provide the best market value. Building in a safe neighborhood with available amenities is often a good idea.

Lot

The lot you choose is just as important as its location. Make sure your lot is the right size and in the best spot for your plans and keep your clientele in mind. Families may want to be near parks or playgrounds, while older couples might want a quieter location.

When applying for your Spec Home Financing in Arizona, remember that certain lots may have upcharges, so be sure to work any lot costs into your application.

Floorplan

This goes back to your clientele as well. Choose a functional floorplan that people will want to live in. A couple has different needs than a family of four. Select a floorplan that compliments your lot and location and makes sense for who will be buying it.

Design

Choosing a modern, yet timeless design will help you sell your spec home and allow it to stay timely for years to come. Do plenty of research on interior design or work with a designer to help you develop a theme.

People love matching and consistency, which can be achieved with small touches. Choose fixtures that are all the same color. Use the same countertop for the kitchen and all the bathrooms. If you have wood floors in different areas of the house, make sure it’s the same color. The same goes for tile and carpeting. Maintaining an interior theme will help make your house look polished and professional.

Unanticipated costs

Snafus happen, so you must expect the unexpected. Make sure you budget wisely and put money aside account for unanticipated surprises, which are bound to happen. You’ll be happy you did.

Spec Home Financing in Arizona

Want to build a spec home but can’t pull the funds together? You can get Spec Home Financing in Arizona from a hard money lender like Level 4 Funding. Money lenders can offer you more money than banks in some cases, and their application and approval processes are far faster than those of financial institutions.

Choose Level 4 Funding to fund your spec home.

Level 4 Funding is a trusted money lender that can give you the Spec Home Financing in Arizona you’re looking for. Visit their website now and apply for your loan online. It’s easier than you think and is definitely worth your time.

Moving for Beginners: Packing, Arizona Bridge Loans, and Everything in Between

Planning a big move? Learn how to stay calm during the process with tips on packing, Arizona Bridge Loans, movers, and stress management.

You can admit it. Moving is just plain stressful.

As exciting as it is to find a new place to call home, the process of getting there can make you want to pull your hair out. The money, the time, and the energy that go into moving can be overwhelming. To save yourself some frustration, we’ve pulled together some of the top moving tips to make your experience much more pleasant.

Let go of as much as you can.

The more you get rid of, the less you have to move. That means less weight, less boxes, and less to unpack. Whether you trash, donate, or sell your belongings, it’s helpful to have them out of the way before your move. As you pack up room by room, have a trash bag and a donation bag. Donate what you can and trash what you can’t. Not only is this helpful for your move, but it can be representative of a new start in your new place. Out with the old and in with the new.

Hire a moving company.

Although it’s cheaper to pack your stuff and go, hiring movers can take a lot of pressure off you, not to mention save you time and energy. Although it may be cheaper to pack up a truck yourself, you can spend that time on other things by getting movers. With tons of moving to-dos, it can really help to have extra time. To save a few bucks, you can pack up some more personal belongings yourself, and save the kitchen, bathrooms, and basement for the movers to pack. You’ll still get the help of movers while also making sure your favorite treasures are packed to your liking.

Find used boxes.

Rather than buying boxes, take time to search for some free ones. Stores like Walmart and Target sometimes have leftover boxes from shipments that they plan on recycling or throwing away. If you see any, ask if you can have them. Liquor stores often also have a ton of leftover boxes, and smaller boxes like these can be more helpful than you’d think. With this being said, you may not need boxes if you hire a mover, as they may provide you with some.

Use Arizona Bridge Loans to finance your new home.

If you’re having trouble getting the money together to pay for your new home, Arizona Bridge Loans can help. These are short-term loans meant to help bridge the gap between when you buy your new house and sell your old one. Arizona Bridge Loans can be found at many Arizona Hard Money Lenders, including Level 4 Funding based in Arizona.

Final Tip: Don’t wear yourself out.

As tough as moving can be, don’t let it break you! During your move, be sure to treat yourself to plenty of relaxation time. Stay organized and on task, but don’t let it control your whole life. Set aside time to be tranquil and not think about the move at least once a day. Your psyche will thank you.

Be kind to your movers, your family, and yourself during this busy time.

Kindness goes a long way. Those around you will appreciate it, and you will feel accomplished for keeping your cool during what is known as one of the most stressful times in a person’s life. Enjoy yourself and get excited about your new place.

Friday, December 28, 2018

Are Construction Loans in Arizona Worth It?

Thinking of building a home? Learn more about Construction Loans in Arizona as financing options.

Home building is expensive, and builders can often benefit from some extra funding. Construction Loans in Arizona are very helpful for home builders in financing their builds and are definitely worth applying for.

When you’re thinking of building a home, there are a ton of costs to consider. Here are just some of the expenses that go into the construction of a new home:

· Lot upcharge

· Building supplies wood, bolts, nails, drywall, concrete, etc.

· Labor costs

· Roofing

· Plumbing

· Electric and lighting fixtures

· Windows

· Interior design countertops, paint, flooring, cabinets, doors, etc.

· Landscaping

With all those together, that’s a lot of money. The average cost for a new build in 2018 was $290,110, which is tough for many to pay out of pocket. That’s where Construction Loans in Arizona can really help.

These are short-term loans lent out by Arizona Hard Money Lenders for the building of a home. They can cover a lot and are ideal for those without enough money to shell out for home construction.

Arizona Hard Money Loans do not require great credit or a flawless loan history. Instead, what’s important to Arizona Hard Money Lenders is collateral, which in this case, would be the home you’re building. You can pay back the loan once your home is complete or make a custom payment plan with your hard money lender.

Because Arizona Hard Money Lenders aren’t tied down with tons of corporate policies like banks are, they have more freedom in their loan processes and how they can help you. Lenders often work with their borrowers individually and can develop a loan plan that works for you and your life. This is helpful for those who are turned off by the cold attitude of banks. Arizona Hard Money Lenders can be much more flexible with you and your needs, and who doesn’t want that?

Where Should I Go for My Hard Money Loan?

Just like there are many banks out there to choose from, there are many money lenders. Do some research about lenders and see which one offers exactly what you need. If you’re not in a rush to get money, take your time and study up on money lenders.

However, if you do need your money quickly, it’s even more of a reason to choose a hard money lender over a bank. Banks can take a long time to approve your loan as they go through your information with a fine-toothed comb. Arizona Hard Money Lenders are less concerned with your financial history and more concerned with your collateral, so your approval process with them can be very fast.

Level 4 Funding is a trusted hard money lender for construction.

Level 4 Funding in Phoenix is a hard money lender that offers Construction Loans in Arizona with rates starting at 9.5%. They can even offer up to 90% financing for your project. Make sure to check out their website www.level4funding.com.

Try These Six Tactics and Become a Better Landlord with Arizona Rental Property Loans

Managing rental properties well takes a lot of time and energy. Learn how to improve your skills as a landlord and how to finance future rentals with Arizona Rental Property Loans.

For renters, one of the most important elements of a property is the landlord in charge of it. People want to rent from landlords that are reliable and friendly, since there will be a ton of interaction with them for the duration of the lease.

With that in mind, it’s important to be the kind of landlord people will be happy to rent from. Taking steps to make yourself accessible and easy to work with will go far in the eyes of your current and future tenants and are worth your time. Whether you’re a present landlord or planning to become one, these tips can help you update your rental management skills and gain you more business.

1. Use digital payment options

In this modern world, technology is making many parts of life more streamlined and easier to handle. Using online payment options for rent and utilities can be very helpful for not only your tenants, but you as well. Electronic payments using programs like Venmo, Cozy, PayPal, and Avail can save tenants the bother of mailing checks or going to the bank, and you’ll get your money faster.

2. Communicate with your tenants

If tenants have an issue, it’s helpful for them to be able to easily contact you. Give them your business or cell phone number and be sure to get back to them as soon as you can. Building a positive relationship with your tenants can make interactions smoother and make them more likely to renew their lease.

3. Make repairs quickly

This goes back to the relationship element. Making repairs quickly shows you care about them, their comfort, and their safety. Building a good landlord-tenant relationship is very helpful in the long run and making fast repairs will make a good impression. When a tenant asks for a repair, put it in action right away, whether that be fitting it into your schedule or calling someone to fix it.

4. Give your tenants space

Boundaries are important. Give your tenants the privacy they deserve by letting them know when you plan on stopping by and knocking before you enter, even if you have a key. Giving them space and privacy will help them trust you more as a landlord and better your relationship with your tenants.

5. Market your rentals strategically

If you’re looking for renters, it’s essential to market and market well. Take quality photographs and spend some money to advertise your property to potential renters online. The more people that see your property, the more that may be interested in renting it.

6. Finance your rentals with Arizona Rental Property Loans

Not yet a landlord, but want to become one? Try funding your first property with Arizona Rental Property Loans. Offered by many Arizona Hard Money Lenders, Arizona Rental Property Loans can help you hit the ground running as a landlord by financing your property purchase. Arizona Hard Money Loans like these are easier and faster to get than bank loans and they’re definitely worth looking into.

Treat Your Tenants How You’d Want To be Treated

Every landlord tip comes back to this: treat them as you’d like to be treated yourself. Give your tenants kindness, and you’ll get kindness in return. Work to foster a good relationship with your tenants and your life will be a lot easier.

Become a better landlord by taking the time to follow these steps.

These tips are easy ways to help you out and make your job easier. Each step, if followed, will only make your tenants happier, and hopefully encourage them to give you good reviews as a landlord.

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