Considering using hard money to finance your real estate investment? The process is much different than going through the bank, so we're here to help you get approved for one.
Hard Money Loans in Arizona are loans that are backed by collateral. That is, they aren't based primarily on credit scores and down payments like a traditional bank or credit union loan. Often, they're used as a bridge between a construction loan and long-term financing, or as a way to finish a fix and flip to turn a profit quickly. Hard Money Lenders in Arizona aren't regulated by the Office of Thrift Supervision or the Federal Reserve, so finding a reputable one can be a challenge.
Here are some questions to ask yourself when looking for a trustworthy lender:
- What projects has the lender financed previously? If you're looking for a Hard Money Loan in Arizona for a fix and flip, look for a lender who has completed financing for fix and flip properties. If it's for spec construction, do your research and find one who has experience in that niche field.
- How does the website look? Some lenders are fly-by-night; others just collect your information and pass it on to third parties. A legitimate Hard Money Lender in Arizona will have a professional website with a wealth of relevant information about what they do.
- Are they easy to get ahold of? Their website should have a phone number, an email address, or a live chat where you can speak with a contact one-on-one. A reputable lender will want to talk with a potential borrower to hear about their project personally.
Make Sure to Do Your Research
Unfortunately, it's true — some lenders in the hard money game are essentially loan sharks looking to take advantage of people who've been turned down by the banks. Thankfully, there are many lenders out there who are genuinely interested in your real estate dreams and want to help them come true. By using our questions above and speaking with a lender, you'll typically be able to weed out the fakes from the real deals.
Hard Money Lenders in Arizona
Finding a reputable Hard Money Lender in Arizona is actually quite easy. Level4Funding has decades of experience with fix and flip, rentals, buy holds, and real estate sales in Arizona. We're a phone call, email, or live chat away — if you've been told "no" by the banks and credit unions, contact us to see how we can help fund your real estate goals 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
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.
© 2016 Level 4 Funding LLC. All Rights Reserved.Copyright | Privacy Policy | *Terms & Conditions
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.