Benefits of an California Bridge Loan

An California bridge loan is a specialized type of short term loan designed to help borrowers get cash fast and can be used to help you purchase a home. Knowing the risks, benefits, and ins and outs of bridge loans can help you make a smart decision.

 

An California bridge loans is a common way for home buyers to come up with a down payment when they are buying a new home while concurrently selling their current home. Most buyers rely on the sale of their current home to come up with the down payment for their new home, however, it is not always feasible or ideal to close on the current home first. In a perfect world, you close on your home at 9:00 a.m., have funds available by 10:00 and close on your second home before noon. But it very rarely works this way. More often, you close on your current home and have to find a short term rental for a month or two before you close on a new home. This is not only expensive, but it causes you to have to move twice and you are literally throwing money away by renting.

 

One solution to the problem is an Califronia bridge loan. A bridge loan bridges the gap by lending you the down payment for a new home that you then pay back once your home sells. The bridge loan is secured to the buyer's existing home. The funds from the bridge loan are then used as a down payment on the new home. Bridge loans are gaining in popularity as a down payment option because they offer flexible terms and are relatively easy to qualify for. Also, many lenders will not allow you to take out a home equity loan on a home that is listed for sale, so in many cases a bridge loan is the only option to come up with cash for a down payment.

 

5 Things to Know About an California Bridge Loan

 

Like any loan, a bridge loan has certain risks and benefits. Knowing all your options and going into it fully informed will help you risk less and benefit more. Here are five important things to keep in mind if you are thinking about getting an California bridge loan.

 

1. Qualification is usually an easy and painless process. Most lenders do not have set FICO scores or debt to income ratios for bridge loans. Instead, qualification is based on a complete picture of your finances and whether it makes sense to purchase a home before you sell your current one.
2. You will pay a higher interest rate. Like many short term loans, bridge loans have higher interest rates than 30 year loans. You usually have a grace period of 1 to 4 months depending on your loan terms and if you pay the loan back with proceeds from your home sale, you can usually avoid paying a lot of interest.
3. You have to be able to qualify for two mortgages. A bridge loan can help you with a down payment, but you will still need to qualify for two mortgages and be able to make monthly payments on both if push comes to shove. However, most mortgages don’t require a payment for the first month so if you sell your home quickly, you ca
4. Bridge loans can help you sell your current home more quickly. A home that is lived in is always harder to sell than one that is vacant and staged. By moving into your new home, you will give yourself the best chance of selling your existing home quickly and for top dollar.
5. You can find your new dream home without the stress of having to sell your existing home first. You don’t have to wait or make unattractive contingency offers. You can purchase your new home immediately which will usually get you a better price and help make sure you get the home you want.

 

If an California bridge loan sounds like a good option for you, find a broker or private lender today to get the process started today!

 

At Level 4 Funding we specialize in bridge loans and other short term loan types. Call our office today to schedule a consultation to find out if a bridge loan is a good option for you. Don’t wait on a slow market to buy your next dream home. Use a bridge loan to get into the home you need today.

 

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

 

 

 

 

What kind of California Hard Money Loan Do You Want?

There are two different kinds of California hard money that is available to you. Both are exceptionally similar, but they each have different benefits to the borrower. The two types of California hard money are Hard money lender California and private money lender. It is easy to get confused by the two, they are both practical kinds of loans, but the following will explain how they are different. 

It shouldn’t surprise you to find out that hard money lender California and private money lender California are both based on assets and have more to do with the real estate you want to invest in than with your credit score. These are both also loans that are not bank affiliated, so they are easier to obtain than your traditional bank loan.

However, hard money lender California and private money lender California do have some differences. For example, hard money lender California happens to be a group of people, while private money lender California is just one individual who gives out the loan. Typically, with a private money lender California, you know the person loaning you money, but that isn’t always the case with the group of investors in a hard money lender.

Both loans have quick turnaround despite their higher interest rate, but because of this quick turnaround, the interest rate makes little to no difference. The loans are also more flexible than your traditional bank loans, especially when you use a private money lender California.

Consider these types of loans as you decide on rehabbing a property. It could make all the difference to your project and stress you out far less in the interim. Consider the flexible and safe Arizona hard money loans. Whether you go private money lender California or hard money lender Califonia, you will be happy with the outcome.

 

California Hard Money

Califronia Mortgage Broker

Level 4 Funding LLC

23335 N 18th Drive Suite 120

Phoenix AZ 85027

 

623-582-4444

 

How to Make Money With a California Fix and Flip: Renovation Tips From Hard Money Lenders California 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 California 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 CAlifornia 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 in California

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 California 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 California 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 California 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.L4f.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | 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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

 

Benefits of Finding the RIGHT California Hard Money Lender

Researching California Hard Money Lenders

Discovering an California hard money lender can seem like an intimidating task. In reality, you could be so deep in financial hardship, it's taking all your strength to keep your head above water. When you don't have anywhere to turn, California hard money lenders are there for you. After you locate the appropriate hard money lender for you, they could loan you the money you need in as little as 24 hours and set you on the course to economic freedom. There are a couple of methods to find the appropriate Arizona hard money lender and it is your responsibility to find the right one for you.

Initially, you have to determine the kind of hard money you are looking for. Are you a business owner wanting hard money? Or are you an individual who is thinking about a residential hard money loan? Choosing which class you belong to is the first step to take into consideration before looking more.

At that point, you need to crunch the numbers and decide exactly how much money you are in need of. Bear in mind that California hard money lenders will loan you up to 80 % LTV (loan to value), yet this quantity will probably be closer to 65 %. Keep your expectations somewhere in between that area and then begin your research. You most likely already have your investment in mind, so do the math. Don't request more than you actually need so you can keep your debt as limited as possible.

Finding the RIGHT California Hard Money Lender

What better way to begin than with everybody's tried and true method of research? You do not even need to get off the sofa-- just start with the internet. Use a search engine such as Google or Bing and enter the words and location you are looking for a hard money loan in. For instance, if you planned to find a lender in your region, you might type "California hard money lenders." Undoubtedly, several hundred (if not thousand) internet sites will pop up. This could be kind of frustrating if you are wanting to find the right lender quickly. Click on some of the websites near the top of Google and compare and contrast what you see. Make a few lists of items that seem legit to you and also keep track of those that seem a little sketchy. It isn't a lot of to ask to have your hard money lender have a legitimate looking internet site if they are going to be managing your funds.

One of most crucial things to bear in mind is that if it appears too good to be true, IT IS! Don't do anything you feel uncomfortable with, even if it looks like an excellent offer. Rely on that gut feeling of yours, even if it lender you select has somewhat greater interest fees. Don't allow your financially troubled circumstances lead you down a course that will be wrong in the long run.

When you find a usable lender, look up some client reviews. You could discover a lot about a lender by merely reading what other individuals' encounters have been like with them.

Dennis Dahlberg

Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444

Texas Tel:      (512) 516-1177 

Dennis@level4funding.com

www.Lff.info

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.

Commercial Real Estate: Five Common Mistakes New Investors Make

You have to make sure when you are just getting started in the commercial real estate field that you set yourself up properly. You are going to make mistakes in this business, but you have to learn how to think on your feet and bounce back.

Commercial real estate can be a tough area to begin a career in. Anything could go wrong at a moment’s notice. The carpenter that you originally made a deal with may decide that the quote he sent you was not enough to cover the work agreed upon. You could have been misled to believe the family home that looks ready for a quick turnaround now needs thousands of dollars in repairs and refurbishments. Quick thinking and due diligence will become your best friend, however, you will still run into some headaches.

One of the biggest mistakes that novice investors run into is misjudging the market. Three words could make or break your business: supply and demand. The most successful entrepreneurs are people that see a need in the market. Once they figure that out, they figure out multiple ways to fulfill that need for their customers.

For example, if you find that your city is having an increase of entrepreneurs or small business owners you could invest in co-working spaces. Looking for the census records of the city you are in can yield a lot of answers. Things like average household income, the amount of people that are moving to the city or the rate of employment are great indicators of the market conditions.

Most experts will tell you the best way to succeed is to follow the numbers religiously. You always want to make sure that you are able to accurately figure out how much profit you will make off your investment. You do not want to spend a lot of your career just breaking even. Make sure you calculate every expense that you may incur over the entire process. At the end of your deal you do not want to find out that you have another expense that puts you the hole. That being said you do not want to forego certain repairs or enhancements to save money here and there.

Everything in the commercial real estate business ties in together

You have to remember that many mistakes usually have a ripple effect. The contractor you forget to schedule today cannot make the repairs before the inspector checks to see if the house is up to code. Another thing people new to the business may do is overextend their loan. What we mean by that is borrowing too much money from lenders when investing in a piece of property. If the value of the property does not exceed or at least match the price you are asking for you could end up owing a lot of people a lot of money.

When things get a little hectic during commercial real estate business sometimes you have to fold

When in doubt know your way out. There is a thing called scope creep. This is when the general scope of the deal or flip that you want to do gets more complicated, or has much more work than anticipated. Many beginners feel as though they can force a deal to go their way, however, it may be more beneficial cutting your losses and finding a better investment.

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

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.

Commercial Real Estate: How To Choose The Right City

There are a lot of things you must take into consideration before diving in the commercial real estate business. One of the biggest obstacles that many people have to face is location.

There are a lot of shows on many networks showing the attractive version of the commercial real estate business. One of the biggest obstacles that you might run into is finding the right city to begin your career as a commercial real estate investor.

Sometimes you could have the right business plan but living in the wrong city may give you some problems when you are looking for prospective properties. After the real estate bubble burst, there were many cities that fell. Places, where you could possibly be successful, are not the same as they used to be.

In regards to the traditional commercial real estate, like offices and storefront area big cities like New York, Los Angeles, Miami and San Francisco are great places to start from. Tourism is your friend when you are looking in large buildings to possibly invest in. You want to look at the amount of tourist funnel into the city. These type of cities are great for commercial businesses.

You do want to make sure that you check the pricing of the properties thoroughly you do not want to invest too much of your time just in one location. Cities like New York or San Francisco may have some steep prices. This may, in turn, drive possible buyers away from the property you want to flip. Make sure if you are planning on using the space for your personal business will be able to survive in the area or neighborhood it is located.

When it comes to commercial real estate for potential home buyers there is a slight difference

Commercial real estate in regard to house flipping is very different in comparison. New York is one place you may want steer clear of; many people wind up leaving the city because of how high the cost of living has become. Many people are moving to southern states. For example, Atlanta, GA has had a large influx of people moving and buying single family homes. One major thing southern cities like Charlotte, Dallas, Houston and Atlanta have going for them is the vast amount of space. There are plenty of places to build new homes. On top of that, there are a lot of tourist attractions within the metropolitan areas if you want to venture into the city.

Commercial real estate is not confined to the large attractive cities

Sometimes you have to forego flipping the lofts of Manhattan and venture upstate to Nyack. You have to be flexible when it comes to the commercial real estate business. Many investors want to conquer a New York or a Chicago, but sometimes investing in a Greensboro may be more profitable. In bigger cities you also have to deal with much more competition. Go to a city where you can be the big fish.

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

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.

Commercial Real Estate: Fix and Flip Tips

The commercial real estate business has taken a lot of hits in recent years. Depending on the market or the city that you are working in you could go through a hundred different situations. Should you take on the business or you leave it to someone else?

From 2007 to 2009, the commercial real estate market took a huge hit due to the recession. While it is making a comeback it is still difficult to turn around a high yield. In 2007, the housing bubble burst to result in a $8 trillion loss. In turn, as we all know many people were laid off and consumer spending took a drastic decline.

Alas, the U.S. is a very resilient country and has come back very strong. The same can also be said for the commercial real estate business. Even with taking as big of a hit as it did the real estate business is slowly beginning to thrive again. That being said there still is a lot of work to do, and for some this field may not be the right choice.

One of the biggest roadblocks that investors run into is actually financing the property that they want to flip. When the bubble was increasing many lenders gave out no/low doc loans. Basically, potential buyers did not have to provide documentation of their income to the institution. After a while, the mortgages that were taken out were worth more than the value of the property and homeowners could not pay for them. Many first time home buyers and investors now have to deal with stringent credit standards that turn a lot of buyers away. A lot of lenders now are more cautious when it comes to lending a commercial real estate loan.

Financing the property is not the only thing you have worry about in the commercial real estate business.

When it comes to finding a vacant property or even finding someone that is willing to sell their home. When it comes to real estate right now the pickings are very slim. Finding the right property is a large part of the work that you have to put in. There are not many homes that are available for investors to attempt a flip.

Another problem that many investors have is finding the right cities that have an economy that is conducive for commercial real estate. A lot of the hot spots for flipping are in places like Los Angeles, Baltimore, Chicago and Detroit. It is not a requirement to be successful, but relocating your business could be a good idea.

With little options to choose from when it comes to property and vacant buildings competition is a very big part of the business now. If you are just starting out, you want to make sure that you are ready to battle at auctions. You have to be ready to jump on every possible buy that you feel as though you can make a profit on.

So should you join the commercial real estate business?

Short answer, if you can see yourself making a profit in the commercial real estate world then, yes. However, if you get in the business and find yourself barely breaking even or having a hard time finding buyers for a possible flip; you should try a new approach. You want to make sure you understand the market and how it works, as well. Go into partnership with another person to help you as well. Your connections are key in the commercial real estate business.

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

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.