(Most borrowers have no idea what private money lenders in Texas are, how they do business or who they work with. But these are legitimate lenders who work with a diverse group of borrowers.)
Private money lenders in Texas offer short-term loans to a wide assortment of borrowers. And in some cases, the loans that they offer can even become long-term if that is what the client is looking for from a private lender. One of the best features about working with a private lender is that the entire process can be customized to meet the needs of each unique borrower.
Any real estate investor who is making a lot of purchases or even those who don’t buy a lot but need to buy fast will have private money lenders in Texas that he or she works with on a regular basis. Building this relationship is like working with any other business associate who provides you with a service. These private lenders and loans are a great compliment for fix and flip specialists who want to purchase fast, complete a renovation and sell fast.
The investors who are looking to make a long-term purchase also use private lenders but for a different reason. These deals come along very quickly so the buyer needs to be ready to snatch up a hot property. Using a private loan, the investor can make the fast purchase and secure the property, and then go through the long process of securing a traditional loan to pay off the private loan. This lowers the interest rate for the long-term purchase but allows for fast possession so that no one else buys the property.
The Average Home Owner
The other common clients of private lenders are the people who are selling a home and buying a new one. It can be very difficult to coordinate the scheduling of a home sale and the purchase of a new home so that the homeowner does not need to live in a rental property for a period of time. That can be both stressful and expensive. But a private loan can be used to purchase the new home allowing the homeowner to move to the new house before placing the old house on the market. Then when the old property sells, the homeowner can refinance the new house with a traditional lender and pay off the short-term private loan.
Not Just Shady Borrowers
Private money lenders in Texas work with a variety of borrowers and for a great number of reasons. Some borrowers do have credit issues while others are very stable real estate investors who need to get a loan funded quickly for their next project house. And others are just average homeowners who want to be able to purchase a new home and move into it before they try to sell their current home. The reasons can vary, but the solution is the same for all of these borrowers. Using a private lender is the best way to meet their current financial needs.
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.
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