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Monday, March 25, 2019

Residential Arizona Hard Money Lenders Compete for Business

Residential Arizona Hard Money Loans are, in fact, a great way for buyers to lock down funding without the tough qualifications required by traditional lenders.

Shopping for a residential Arizona Hard Money Loan is like shopping for a car. You can get the same vehicle at multiple dealerships, but you want to vet them out and pick the right one for you. Here are the items you should know about your residential Arizona Hard Money Loan servicer before applying for a loan:

Rates

Rates can vary from lender to lender and the rate is going to make a big difference in the amount that you pay.

Loan Length

How long is the life of your loan? How long do you have to pay it back?

Prepayment Penalties

If you are able to pay your loan back quicker you will want to know if there are prepayment penalties that will be levied against you.

Origination Fees

Much like the interest rate, the origination fee can vary from lender to lender. This is cost that needs to be included in your investment budget.

Loan-to-Value Percentage

Depending on the home you want to purchase and the amount that you have to put down for the loan, your LTV percentage will change. You’ll want to check the residential Arizona Hard Money Loan terms to see if your purchase qualifies for their LTV restrictions.

Call a Arizona Hard Money Lender like Level 4 Funding to get this information so that you can be prepared for your investment and apply for your loan with all of the necessary information.

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.

Arizona Special Home Financing Provides Opportunity for Investors

Arizona Special Home Financing allows investors to purchase homes quickly to fix and flip for a profit.

The term home loan brings to mind the traditional 30-year mortgage that home buyers use to fund the purchase of a house, but that’s not the only way to fund a home loan. Investors are a special breed of home buyer. They have different needs and that’s why Arizona Special Home Financing exists.

In order to obtain Arizona Special Home Financing from a Arizona Hard Money Lender, you’ll need a well thought out business plan. They’ll want to know about the specific home you want to purchase and what your rehab plans are. But to start your fix and flip business there’s a bigger picture plan that needs to be put into place.

Here are some of the things you’ll need to consider when starting your fix and flip business:

Where You Want to Work

There may be certain areas of your city that will work better than others for fixing and flipping. Knowing those areas is important so you can select a property that will bring in a good return on your investment.

Type of Houses You Want to Flip

Do you want to stick to only single family residences? Are townhomes an option? If the home has an HOA are you prepared to work around their restrictions? Consider the different options to narrow down your flip opportunities.

How Many Houses You Can Flip

You’ll also need to take a deep dive into your budget to plan for how many houses you can flip without digging yourself into a financial hole. Be prepared for all expenses beyond the rehab such as HOA dues and taxes.

Once you have your business plan prepared you can tailor it to specific properties that you want to flip, giving you a groundwork for your Arizona Special Home Financing application. To learn more about your funding options, call Level 4 Funding today!

Short Term Private Money Loan Means Long Term Income

Arizona Private Money Loans aren’t just for fix and flips. They can be used for long term investments such as rental properties as well.

Arizona Private Money Loans are best known for funding quick investments like fix and flips, but you may not know that it can be used for long term investments like rental properties.

The main reason to go with a Arizona Private Money Loan is because it can be funded quickly and without the restrictions of traditional loans such as credit requirements. The Arizona Private Money Loan is going to come with a higher interest rate which is an incentive to pay it off sooner rather than later, but the ability to get your loan funded quickly is a definite pro.

When an investor is looking at purchasing a rental property for long term investment income they may not be able to meet the traditional lending requirements and that’s where we come in. We can allow the investor to purchase the property quickly, start making income, and fund with a Arizona Private Money Loans until a traditional loan is within reach for the investor.

Here are some ways to boost your chances of getting approved for a traditional loan to replace your Arizona Private Money Loan on your rental property.

• Boost your credit by paying off high interest balances

• Work with a credit repair company to correct errors on your credit report

• Speak with a lender to determine where your debt-to-income ratio needs to be

• Avoid incurring any new debt

• Stay at your job to have consistent employment history

Speaking with a professional credit repair service and a mortgage professional are surefire ways to get yourself on track to be approved for a traditional home loan. They can offer guidance that is personally tailored to your situation and what you yourself need to do to qualify for a traditional loan

In the meantime, if you need a short term Arizona Private Money Loan to fund your rental property, give us a call at Level 4 Funding to discuss your options.

Sunday, March 24, 2019

Arizona Rental Property Loans: What You Need to Know

The passive income from a rental property is a great way to grow your cash flow. Arizona Rental Property Loans from Arizona Hard Money Lenders allow you to buy a property to use as a rental.

Rental properties have long been a go-to investment for those who want to boost their earnings portfolio. Investors use Arizona Hard Money Lenders for their Arizona Rental Property Loan because it’s a quick way to get the cash needed to make a purchase. But what happens once you have the property?

Here are some tips for successfully managing a rental property.

Set the Right Rental Price

There are many factors that go into pricing a rental property. Is it close to schools? Is there a noisy train track near by? What are other rentals going for in the neighborhood? The best way to determine a rental price is to consult a real estate professional who can crunch the numbers. Setting the price too high will keep you from getting a tenant and setting the price too low leaves you missing out on potential income.

Don’t Break the Law

There are important fair housing laws that simply can’t be ignored by landlords. Tenants are protected in various ways and the worst thing you can do is violate a tenant’s rights and find yourself in legal trouble. You can find this information online or again, consult a real estate professional.

Advertise Your Rental

The next step is to find yourself a tenant so you can start paying back that rental property loan. There are plenty of sites to advertise your rental like Zillow and Trulia. You’ll need to be prepared to run credit and background checks to vet your potential renters and also have access to a lease contract.

All of these things are extremely important and due to the precarious nature of the fair housing laws, it may be beneficial to consider using a property manager to ensure you are covered legally.

If you’re interested in stepping into the realm of rental properties, consider getting a rental property loan from a Arizona Hard Money Lender like us, Level 4 Funding. We would love to help you get started on your investment journey!

Arizona Hard Money Lenders Preparing for Busy Season

Real estate is always a good investment, but supply and demand fluctuates throughout the year. Arizona Hard Money Lenders are gearing up for the busiest time of the year.

What’s better than springtime in Arizona? We’ve got the mountain views, we’ve got the baseball, and most importantly, we’ve got the weather. When the weather warms up so does the housing market. The spring time is one of the busiest times of the year for real estate.

So what does that mean for you as an investor? That means you need to be ready to make purchases quicker as the competition heats up.

Arizona Hard Money Lenders Approve Quickly

Unlike traditional loans, Arizona Hard Money Loans are fast and investor friendly. Once the lender has a chance to review your financial plan they can make a quick approval. It’s even quicker if you come with all of your information in an easy to read and organized format that explains your budget for the home purchase, renovations, and any other fix and flip related costs.

Arizona Hard Money Lenders Fund Quickly

Just as Arizona Hard Money Lenders complete approvals quickly, their funding follows soon after. There’s no waiting around on your money. The quicker your loan gets funded the quicker you can get to renovations so you can get your home back on the market and money in your pocket!

When the market is as competitive as it is right now this is imperative to locking down an investment property. Homes are going under contract at rapid speed so you’ll need to make an offer on a property as soon as possible.

Arizona Hard Money Lenders like Level 4 Funding understand this and make fast lending decisions accordingly. Depending on the project, decisions can be made and loans can be funded in as little as a week, giving you the competitive edge against other investors looking to secure properties like you.

To set up an appointment to speak with us, give us a call and we can carve out dedicated time to hear about your fix and flip investment project and get started on your work with us, a Arizona Hard Money Lender dedicated to making your real estate investment dreams come true.

Funding Your Arizona fix and flip loan and Expenses

A Arizona fix and flip loan is one that doesn’t conform to traditional lending criteria and payoff terms. Read below to find out why a these special loans have investors smiling.

Whether you’re new to fixing and flipping or a seasoned flipper, it’s an exciting adventure! It might not be as glamorous as television portrays the process, but it’s still an investment journey that can bring in the cash and give you creative freedom!

For a first time flipper, there are some expenses beyond your Arizona fix and flip loan that you may not be aware of so we’ve created a list so you can be prepared!

• Loan costs

• Insurance

• Property Taxes

• HOA

• Maintenance beyond repairs such as yard

• Selling costs

Each of these are going to run a different amount depending on where you’re buying and what you’re buying, but it’s a good rule of thump to have money set aside for each of these.

For example, if you purchase a home today, it might take you a month to fix it and a month to flip it. That means you’ll need money to cover two months worth of HOA fees and yard maintenance.

Beyond those typical costs, the costs of your flip are going to depend on the condition of the home and the necessary repairs and ideal upgrades. Having a solid financial plan for your flip is the first step you need to take so that you don’t go over budget and end up coming out on top once you sell the home.

Once you have your financial plan in place, you can contact a Arizona Hard Money Lender for your Arizona fix and flip loan. They will go over your plan with you and examine your budget to determine if it’s a good loan for them to make.

Once they’ve decided that your financial plan is solid and well thought out, they can decide to fund your Arizona fix and flip loan! Funding is quick through Arizona Hard Money Lenders so you can make your purchase and get started on your renovations as soon as possible.

Level 4 Funding specializes in Arizona fix and flip loans and would love to hear about your latest project. Give us a call today to speak with someone about your investment dream!