A Few Pitfalls To Avoid With Hard Money Lending Institutions

There are really two different kinds of hard money lending companies. The first are direct hard money lenders California who will do all the work. They will underwrite, fund and service your loan. The second are brokers who just shop your loan out to a direct lender. You have to be careful when dealing with companies that only broker hard money loans. Many of them are simply fee collectors that will require you to put up anywhere from a few hundred dollars to a few thousand dollars before they will give you a hard money lending decision. These types of places may or may not have the intention of funding your application, but if they don't, they will keep your money! There is a direct hard money lender that can fund in 13 states. However, they have nosey partnerships with other direct hard money lender California so that they can fund deals in states that are not our primary lending states. That way you get the best of both worlds because if you have a good deal, they will get you funding!

The hard money for funding your real estate investment deals has to come from somewhere. Hard money investors are people who believe in real estate and understand how important it is to driving our economy and building long term sustainable wealth. These people put up their own capital to fund real estate investment deals. Now they don't do this simply out of the kindness of their heart, they are looking to make a profit off the interest they charge on the loan. However, it's a win/win scenario because you make money on buying and selling a property, they make money on the interest from your hard money loan.

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 Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027111 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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Easy money in the faltering real estate market.

Phoenix, Arizona has a population over 1.44 million and that number is only expected to rise in the coming years. Yet, it’s not a very condensed place, spread out to the far reaches of the horizon. So many houses were built in the real estate bubble a few years ago, but many of these properties now stand empty, neglected and decaying.

The housing market is slowly, but surely making a comeback – after all, shelter is a staple of human existence, so eventually houses will be affordable again. Let’s hope anyway. Some people have based their entire livelihoods on that exact hope and they’re doing it by acquiring these decayed properties, fixing them up in less than six months and selling them for a profit. This is called “flipping.”

But most banks cannot or will not approve loans for such projects. The solution? Arizona hard money. These types of lenders approve loans quickly and easily, but for a different, atypical rate than a bank or mortgage company would allow. The payments are made purely on interest, not on the loan itself, so that each party makes a pretty penny with a quicker turn around.

These types of loans aren’t for everyone. Usually, only businesses and real estate gurus should consider private money lenders Arizona, but there’s no reason why an average Joe Schmoe can’t consider this an option. Hopefully, in a couple months to a couple years, the real estate economy will recover completely and these flipped properties will be worth a ton to everyone.

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial real estate loan,commercial hard money lender,commercial hard money lenders

Labels: commercial hard money lender commercial real estate loan

Hard money isn’t like your guilt tripping wife – it’s truthful

Men, more than women, want to pretend like they’re steel clockwork machinery with no emotions. But everyone has feelings – it’s just a matter of letting them control us.

Indeed, those terrible feelings of guilt and obligation can be powerful motivators when it comes to buying a product. Since we’re consumers and that’s practically all we do, it’s important to overanalyze. Studies (mysterious, vague studies, that is) have shown that people naturally have a sense of reciprocity that leads them to believe that after something nice is done for them, they should do something nice for the benevolent party in return. You know this deep in your heart. Even monkeys feel this way.

To capitalize on this, dishonest sales reps will often create a "give and take" scenario where they make you feel that they've done you a favor. For instance, if you can't find a pair of aquatic gopher hunting spandex shorts in your size a sales representative will search through the back room for multiple alternatives that you might find appealing. Usually, he’s just texting on his cell phone. It's a simple gesture, but as a result, you'll feel more obligated to make a purchase from them.

Luckily, hard money lenders California are more benevolent and straight forward. Heck, most of them don’t even have a back stock room and since it’s not sales, they don’t want your stinking guilt. California hard money is like a farmer on vacation in Bermuda – he’s just there to be himself for a little bit.

 

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial real estate loan,commercial hard money lender,commercial hard money lenders

Labels: commercial hard money lender commercial real estate loan

Hard money lenders help you flip a property

The sole purpose as a lender is to provide customers the fastest and easiest access to private money and hard money lender California loan options secured by real estate. In fact, you can get funding in as little as five business days through one of many available loan programs. Most are an equity based lender who will give you a loan based on the merits of the property you want to buy instead of your own personal merits. What exactly does that mean to you? It means they will provide you California hard money regardless of your poor credit, spotty job history or low income, as long as they can see upon evaluation of the property that you will make a profit doing a fix and flip. Does your credit score matter? Yes, it can help you to get a better interest rate, but most don't use it to determine if you can qualify for a loan. Do you need 100% financing so you can get started with no money out of pocket? Most have developed a program that gives you access to additional financing options on top of hard money, that can make it possible for you to break into real estate investing with no money of your own. Most lenders have been fortunate enough to help their clients make well over $1,000,000 of pure profit and counting from investing in real estate through their specially designed hard money loans. You could easily be the next success story, and everyone hopes you are!

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 Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

What would you do without hard money loans?

Here are a few testimonials from actual clients that benefitted from a hard money lender California:

Robbie claims: “My company experienced a disastrous fire that nearly destroyed us. No conventional lender would help us. A hard money lender did. Because of them, we were able to borrow what we needed and continue in business. We were then able to settle our insurance claim, repay their loan and prosper…I will always be grateful for the help hard money lending gave to me, when no else would.”

Katie said: “I am very thankful to have found California hard money because without it I would not have a home of my own. They made all of my and my children’s dreams come true. They are very understanding and willing to work with you. Not everyone in the world has perfect credit or the perfect life but they can help. Thank you for everything. I am so grateful.”

Last but not least, a cook in Indiana said: “I believe I represent the view of many when I say that hard money lenders have been a godsend to our community for giving people credit when no one else will take the chance. After banks, loan companies and mortgage companies refuse to extend credit, people turn to them for help. These people often represent a high credit risk and takes on that risk when they make loans to them. No one is forced to borrow money from anyone under any terms the company offers. Each person is responsible for his or her own actions. They tell customers up-front about the interest rates and terms offered in each loan, just as any other lender would. I’m sure there are many who need his type of loan services but have not known about this door of opportunity offered.

 

 

 Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Speed dating with hard money loans

In the world of finances and real estate loans, hard money lending is a lot like speed dating -- they are designed to be temporary, and the interest rate on an California hard money loan gives you an incentive to move on as quickly as humanly possible. First, interest rates are generally higher on a hard money loan. You should not be surprised to pay more than 10% APR or anything in the high teens percentage wise, and you can easily pay several times that. A hard money loan should be used to help with a temporary need, like flipping a property, not as something you’ll keep around forever like your student loans. You may not even have the choice to keep a hard money loan going for long. Most loans require you to repay in full within one to five years, so you have to plan ahead. In addition to higher interest rates, you’ll often pay more points to get a hard money lenders California. Five points or more would be reasonable, but you’d need a good reason to pay that much on other loans. Again, a hard money loan is a shorter-term loan, so you’ll amortize those points over a shorter period of time. They drive up your borrowing costs and like your cholesterol that’s not a healthy thing to raise.

Keep all this in mind when you walk into the office of a hard money lender. You want to diligently understand your own position as well as the position of the person sitting across from you.

 

 

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Quick Answers to Quick California Hard Money Questions

Anytime your money is involved you need to know the answers to ALL of your questions. This is especially true with California Hard Money. If you’re thinking about an California Hard Money loan, you need to gather as much information as possible. Listed below are a few FAQs to California Hard Money loans.

California Hard Money FAQs

1. How do I get approval for an California Hard Money loan?

Getting approved is easy! Lenders don’t base your eligibility on credit score, employment history, or current income. In fact, you don’t even have to provide any financial information. All your lender needs to know are the logistics of your property. Hard Money loans are strictly equity-based, so you have quite a bit of leeway when it comes to eligibility.

2. What LTV (Loan to Value) ratio can I expect?

This number will be based on quite a few factors and determined on a case-by-case basis. However, as a general rule, most LTVS will be anywhere from 65% to 80% of the value of the home. This number can fluctuate greatly, but this is a good base to go off of.

3. What are the costs of California Hard Money loans?

All Hard Money loans are going to require a Title policy, insurance, and appraisal. These services do cost money--even up to a couple thousand dollars. Often times though, this will only cost a few hundred dollars. Most Hard Money lenders will not charge application fees or closing costs, so, by the time you even find the lender you want to use, most of the expenses have already been taken care of.

4. Do I have to put money down?

Most of the time, you do. Lenders need to feel confident in their investment, so they need to see that you have enough resources to cover the costs of the loan. Expect to pay a little bit out of pocket until the project is completed, but nothing that will break the deal.

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial real estate loan,commercial hard money lender,commercial hard money lenders

Labels: commercial hard money lender commercial real estate loan