When they're looking for financing for a home or a basic loan, most people only think of the bank. Well, there's an alternative out there and, for the right borrower, it can be a godsend. Let's take a look at how Arizona Private Money Lenders can ease the pain of the process.
If you've ever gone through the bank for anything — a mortgage, a personal loan, etc — you know the torture it can be. The piles of paperwork. The countless phone calls and meetings. Having your financial past put through the wringer. Waiting weeks to hear any news. Being treated like a cog in a massive, cold system. These are things we just have to put up with, right?
Nope. Thankfully, there's an alternative out there. Arizona Private Money Lenders invest their own money or pool their money with other investors to support projects they believe will be profitable. Because of the way these loans work, they get to operate outside the restrictive confines of the traditional financial institutions. Let's look at some of the pros and cons.
The Pros and Cons of Private Money
Like we mentioned above, Arizona Private Money Lenders aren't bound by the same strict regulations as banks. It's their money and they can reasonably decide where they want to invest it. Loans of this nature are usually secured with a deed to an asset, which covers the investors in case the borrower doesn't pay the loan back.
This means that lenders, unlike banks, don't care as much about your bank account, your credit score and your financial history. It also means that you, as the borrower, can sit down face-to-face and make your case (instead of speaking to one representative at a nationwide bank). Maybe your plan isn't traditional, but if you can back it up with hard data and no small amount of passion, an investor may take a chance on you.
It's important to note that private lenders often charge higher interest rates and the repayment terms can sometimes be stricter than a bank's, depending on what you negotiate at the outset.
Arizona Private Money Lenders in Arizona
Ready to say goodbye to the red tape at the bank and fund your next project? A Arizona private money lender in Arizona may be able to help. Level 4 Funding has decades of experience with private investing. We're here to listen to your plan, give you options and help you realize your real estate dreams. Contact us 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.
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