Setabay Private Hard Money Lender: texas hard money lender

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Monday, March 20, 2017

Hard Money Loans in California Just One Way To Get Your Pot Business Started

Federally insured financial establishments are not allowed to work with pot dispensaries but if you want to get into the business, you have to get your money from somewhere. Hard Money Loans in California are one option, but there are others.

It probably still sounds strange to some, but depending on how you do it and which state you live in, it can be legal to sell marijuana. If the media has taught us anything, there is some serious cash to be made in legalized pot. However, since the federal government does not recognize it as legal, federally insured financial institutions are not allowed to approve loans for marijuana dispensaries or even take deposits from them.

So—does this mean you have to be already independently wealthy to open a pot dispensary? Of course not! There are ways to find the money. Hard Money Loans in California are a common method, but they are far from the only option available.

Options Other Than Hard Money Loans in California For The Pot Industry

Hard money loans can be obtained to get the capital you need to get started, but what if the terms are not that friendly and you have already hit up every other hard money lender in the area? Are you screwed? Is this guy dictating such terrible terms because he knows you are screwed?

You aren’t, of course. But it will get a little more challenging to find your funding. The following are a few options:

• Friends and family: It can be embarrassing and hard to ask your friends and family to invest. Doing so certainly comes with an element of risk (how do you tell your brother to quit sticking his nose in the business when he put up $50,000?), but your family and friends are less likely to charge you an insane amount of interest.

• Attend industry events: If you want to find someone who is pro-marijuana and could be interested in investing in a dispensary, attend a trade show, conference, or some other kind of gathering. They wouldn’t be there if they were not interested, and if they don’t have the money to invest, they may know someone who does.

• Private equity funds: This will probably not work if you are trying to get started, but if you are established, have a brand, and want to expand, private equity firms are becoming interested in the market and may be willing to strike a deal.

• Foreign investors: According to some cannabis industry insiders, there have been some Chinese investors making waves in Oregon of late. The talk is just being classified as “rumor” for now, but if you are running out of options, it is something to keep in mind.

There Are Always Options…

If you want to get into the business bad enough, but don’t want to sell your soul to get approved for any Hard Money Loans in California, there are options out there. You just have to look for them and be open to the possibility.

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.

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How to protect yourself from getting scammed by hard money lenders in California

A sucker is born every minute. This is a hard pill to swallow for some people, but it is true and many lenders will use a person’s lack of knowledge to their advantage. Which is why we at Level 4 Funding want to make sure you are covered when dealing with hard money lenders in California.

In the state of California, there are hundreds of hard money lenders that you can go to for your loan needs. Before you ink any deal, you want to make sure that you do all your research. You have to become a detective when searching for a potential lender. Scour thousands of reviews from past clients if need be. Find everything you can about the lender and the firm they represent.

If they have open cases on with the Better Business Bureau make sure you bring it up when you meet with the lender. If the firm is not recognized by the BBB, which is not uncommon for many firms, you can try sites like California Real Estate Fraud are great places to start. If you cannot find enough information on sites like this, try contacting past clients personal via email. Some hard money lenders in California will post fake reviews on their company website to keep up the appearance of a legitimate business.

What if you are already sitting in the lender’s office already?

Simple, keep your composure and listen for certain clues that will tip you off to impropriety. It could be as small as the lender being too eager to give you a loan before hearing what you plan on doing with the property.

One of the biggest things that trip people up are the fees associated with the loan they are applying for. Take bridge loans, for example, most hard money lenders in California will charge you a fee anywhere from $2,500 to $15,000. Yes, it is a lot but you need to make sure you are committed to the project.

That being said, if the lender asks for a fee higher than that you should not go through with the deal. If the loan you are looking to borrow is less than the fee something is most likely off with the lender.

REO fraud is popular with some hard money lenders in California

An REO property, or a real estate owned property, is sold by the lender. Many people fall prey to this scam due to a lack of research. What usually happens is the lender sells the property for a relatively low price to a secondary buyer then sells the property at a ridiculously high price. If you do not look into the past buyers and prices you could fall victim to this.

Many of the frauds are beginning to eliminate the middleman altogether and just selling the property for a high price. Investors can prevent being taken advantage of if they take the proper precautions when looking for lenders. Peace of mind is worth more than a new property.

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Sunday, November 29, 2015

How to Make Money With a Fix and Flip: Renovation Tips From Hard Money Lenders Texas Investors Trust!

If you are looking to do a renovation on a fix and flip house and want to make a profit, you need to know that certain renovations will get you more bang for you buck than others. Take it from the experts, hard money lenders Texas rehabbers trust!

Most real estate experts know that Texas hard money lenders are there when investors need to purchase a fix and flip property. With liberal lending practices and little emphasis on FICO scores or personal finances, it is hard money lenders Texas investors turn to to purchase investment properties.

Hard money loans are short term, asset based loans that can be used to purchase investment properties. Most commonly, they are used to buy foreclosure or auction properties at a good price that are then fixed up and sold for a profit. With years of experience in the fix and flip business, hard money lenders know what will help a property sell and what will not.

Top 3 Renovations Recommended by Hard Money Lenders, Texas

If you are looking to get the most bang for you buck, here are the top three ways to spend the cash from your hard money loan to make the most profit on your fix and flip.

1. Fix any major problems. When it comes to buyers looking for a turn key home, take it from hard money lenders Texas experts trust for loans and more, no one wants to see work. If you buy a home and it needs a new roof, make sure to put one on. The same goes for major systems like the HVAC or water heater.

2. Paint. Pick a nice neutral paint color and it will help attract buyers. If you need ideas on color, anything from beige to grey can look great. Don't pick anything too taste specific because, according to the hard money lenders Texas pros turn to, you want to home to appeal to a broad base of buyers.

3. Home staging. Investing a little in staging a home can pay you back big time. Staging makes the house look like a home and helps buyers picture themselves living there.

Take it from the hard money lenders Texas flippers trust, these small improvements go a long way!

When you are ready to take the plunge and buy a fix and flip, make sure you turn to Texas hard money lenders to help you along the way. You will be glad you did!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
dennis@level4funding.com
www.Level4Funding.com

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Wednesday, October 28, 2015

Three things you need to know about Texas Hard Money Loans

The economy has made traditional lenders a little worried about your credit score. Many real estate investors are finding themselves unable to purchase investment properties due to a bad credit score or unfavorable debt to income ratio. If you find yourself in this situation, you are not alone. That’s why Texas hard money loans made by private money lenders Texas are among the best ways to get started flipping that house today, even when you don’t have the credit you once had. With Texas Hard Money loans, you actually don’t need to have perfect or even good credit. Take a look at this three facts you might not have known about private money lenders Texas.

Like we said above, with private money lenders Texas, don’t worry about your credit score. Your lender sure isn’t! Instead of worrying about your credit score, start worrying about what you’re going to do with the house you want to flip! Really, lenders are more concerned about the property you are borrowing against and whether or not you are going to repay the loan, but they judge that based on character. This loan really has nothing to do with your FICO score, so stop worrying about it.
You have to be realistic with private money lenders Texas. Why? Because this is a loan, not a gift. Really be honest about how long you think your home renovation project is going to take and be up front with your lender. For example, do not say you will only take a month if you know it will take three. That would be bad faith and give you a bad reputation. Plus it could end up costing you a lot extra in interest and penalties. Give yourself enough time to pay the loan off. If you find that your project is taking longer than you anticipated, ask for an extension on your hard money loan.
One last tip is that hard money loans really aren’t as expensive as you think they are. This is especially true if you can make your turn around time on your home investment quickly. The loan does carry a higher interest rate, but it is meant to be a short term investment that can help you and your lender make money fast. It is a win-win solution.

Dennis Dahlberg
Broker/RI/CEO/MLO