Setabay Private Hard Money Lender

Wednesday, July 20, 2016

GET HELP

Sellers may also offer to help out by agreeing to accept part of the purchase price in the form of a note (I.O.U.) that you can pay off in the future. Certain loan programs allow sellers to contribute toward the closing costs to help minimize your out-of-pocket expenses. You also may be able to borrow against equity in your primary residence to come up with your down payment.

Still another possibility is to secure your down payment with funds you already have in a brokerage account, according to investor and loan expert Deborah A. Ten Brink, president of LLC Loan Network. She describes it this way: Sam wants to purchase an investment property for $100,000.00. Sam has a brokerage account with $50,000.00 in it. He must pledge 143% of the $25,000 down payment required by the lender or $35,750 (143% times $25,000.00 = $35,750.00). The funds are retained in his brokerage account, still accruing interest, but the lender puts a lien on the account to protect its interest, then loans him the full $100,000.00 to buy the property. When the investment property achieves 25% equity (proven by an appraisal), the lien on the account is released and the pledged amount plus accrued interest is once again completely under the borrower’s control.
Even if you have cash for a down payment, you may not want to tie it up in your new property. So, for example, Sam can open a certificate of deposit (CD) with the lender using his down payment funds of $25,000.00, and still borrow 100% of the purchase amount of $100,000.00. When the investment property achieves 25% equity (proven by an appraisal), the lien on the CD is released and the CD, plus accrued interest, is returned to Sam.
In both cases, 100% financing is achieved! These options are also available to investors who want to close and hold title in a business entity, such as a limited liability company, limited partnership, or corporation, California Hard Money Lenders. Either way, California Hard Money Lenders will find a way to get you the money you need to invest.

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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Decide What to Buy by Knowing Your Numbers

All things being equal, second homes may offer better financing, but it will depend on where the property is located in California and what you intend to do with it. Talk with your tax advisor about how you plan to use the property to decide whether it would be better to buy a second home or an investment property. I am not a fan of stretching the truth on applications. If you are buying investment property, call it what it is. Whatever you do, don’t buy a property where someone talks you into saying you will live in it when you won’t. There are illegal scams that solicit “ straw buyers,” and these can get you into hot water. You must understand the numbers. Investors have different goals. Some want to buy a rehab property, fix it up, and sell it quickly for a big profit. Others specialize in pre-construction, which means they put a contract on a home or condo in a development before it is built and then sell it for a profit, sometimes before they complete the purchase! Others will buy a home they can rent out, and are happy to break even or make just a little money each month, expecting appreciation to be the pay off. Still others want to buy a vacation home in an area they want to visit. They may use it from time to time and rent it out the rest of the year for a profit. Whichever approach you decide to take, make sure you understand the numbers, including the cost of financing, a down payment, advisor fees, repairs, etc. Be realistic about whether you can afford to make the mortgage payments and the interest rates associated with California Hard Money Lenders. Also, don’t sweat the down payment: While many have to come up with 10% down on first investment purchases, there are loans now, like the ones from Hard Money Lenders California that allow for 100% financing on investor properties. Another option is to get a first mortgage for 80% of the purchase price and a 10% home equity line of credit behind it for a total of 90% financing.

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: califronia hard money loans,california hard money

Your First Buy

When it comes to buying a real estate investment property, the first deal is the hardest. Many talk about buying a rental property for several years until they finally take the initiative, by finding a property, and buying it. Many times the houses appreciate substantially…leaving people to wish they had bought ten more! However, financing your first investment property can be daunting, especially in California. This is where the California Hard Money lenders of level 4 funding come in. They can help you with all of your loan needs. So if concerns about financing your first property are stopping you from getting started, here are some other tips to ease your mind. Check your credit early for mistakes and items you may need to address, but don’t let less-than-perfect credit stop you from trying to get pre-approved for a loan from California Hard Money lenders. You may be surprised by what Hard Money Lenders of California will approve these days. Once you review your credit report, do not take any drastic action without first consulting with an expert. In particular, don’t close old accounts or pay off collection accounts right before trying to get a loan. Either action may hurt your credit score rather than help it. Also, don’t procrastinate any longer: lenders are being scrutinized for making risky loans, and standards are likely to get tougher in the near future. If you are not eligible for a loan based on your credit or other qualifications, look for an investor partner to go in on the property with you. There are many others out there wishing they owned more real estate who lack the time and/or expertise to find and buy property. Although hard money lender’s interest rates are high, it can be worth it if you can refinance or sell the property in a relatively short period of time.

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: califronia hard money loans,california hard money

Tuesday, July 19, 2016

Know Before you Borrow California Hard Money

It can be tempting to jump right into an California Hard Money Loan if you’re in a desperate situation to get some money for your home. However, as with any other investment dealing with a large amount of money, there are a few things you need to know before pursuing the loan. California Hard Money Loans are indeed a great way to get quick money for a short term, and they can even be quite profitable for those borrowing the money. Usually, Hard Money Loans are for residential or commercial properties, but can also be used for fix and flip projects and other real estate investments. Here are a few things to keep in mind before you pursue Hard Money:

Five Things to Think about with California Hard Money

1. Be ready to negotiate. Understand every dollar, every penny, of the loan before you sign the agreement. There is a reason Hard Money Lenders don’t post flat interest rates on their site—these loans are negotiable and no two loans are alike! Negotiate in a reasonable manner so that you can get the best deal for you and they can get the best deal for them.

2. Before you borrow, shop around. You definitely need to do your research before borrowing California Hard Money, and I wouldn’t suggest just going forward with the first lending institution you run on to. Explain your financial situation to a few Lenders and see what they are willing to do for you. Find a lender with a good reputation!

3. Consult with professionals. While you can often feel at ease in the hands of an California Hard Money lender alone, I would suggest consulting with more experts than that. Remember, Lenders are in this business to make a profit, so seek out someone who is objective and eager to help you plead your case. An attorney or real estate agent can help you find lower interest rates.

4. Only borrow what you need! It can be tempting to ask for more than what you need to help you with some of your other bills, but don’t do it. You will always regret it in the long fun. More money results in more spending and more debt. Calculate the numbers, know what you need, and stick with it.

5. Be honest with the loan officer. But, also remember that they are making a profit from you, so protect yourself. However, if you lie your way into a loan, you could find yourself in a whole world of hurt. Most California Hard Money Lenders are willing to work with you, so share your financial information with them and try to get the lowest rates.

Hard Money is a great way to get money for property and real estate quickly, easily, and efficiently.

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: califronia hard money loans,california hard money

Getting reasonable rates from Hard Money Lenders in California

If you know anything at all about Hard Money Loans, you know that their interest rates are high. This may have turned you off to them in the past, but don’t let it deter you from pursuing one if the time is right for you. However, you need to keep in mind that getting a loan from Hard Money Lenders in California is entirely different than getting a loan from a conventional lending institution. You simply will not see those low interest rates you are hoping for, and we are going to do a bit more exploring as to why.

Hard Money Lenders in California do want to lend to you, but you have to keep in mind that they are taking a significant risk in doing so because they do not base their decision on your credit or ability to pay. You can have embarrassingly terrible credit and still end up with a Hard Money Loan. However, you will never get a Hard Money Loan with a 3% interest rate. That is said without hesitation. Hard Money Loans are mainly short term and contain higher interest rates. The typical loan is anywhere from three to nine months—never the 30 year traditional mortgage.

Don’t Get Discouraged by Hard Money Lenders in California

The entire loan process can be an exhausting and frustrating one. However, if you see it through until the end, the results are usually very rewarding. Don’t let the higher interest rates deter you from pursuing a loan, but do keep in mind that you don’t pay all that much in interest because the length of the loan is so incredibly short. While I am not suggesting that a Hard Money Loan is any better or worse than a traditional loan, you will not be spending tens of thousands of dollars on interest with Hard Money. Comparing the two types of loans is like comparing apples and oranges—just plain different.

For the most part, Hard Money Lenders in California will likely not be offering you single digit interest rates. That can be a harsh reality to face, but it’s good to know. Hard Money Lenders in California tend to lower the interest rates for experienced investors, so if you’re new to the game, you may just want to hang in there for a while and feel it out.

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: califronia hard money loans,california hard money

Make Money with California Hard Money: Fix and Flip

I think a lot of us scroll right past anything that has to do with loans these days (unless we need one for ourselves, of course). We couldn’t dream of pursuing more debt, so we make it work. However, unbeknownst to most Americans, you can actually make money with California Hard Money Loans, and the profit is significant enough to capture your attention. Don’t believe me? What if I told you that the average profit for one fix and flip project is right around $30,000? It can be done my friend, it can be done.

Five Steps to Make Money through Fix and Flip with California Hard Money

1. Find the property. Like anything else in life, the first step is the hardest. It’s a big commitment to step into and it can be a tough one. Consult a realtor, do your research, and become an expert. Constantly gather knowledge on the real estate market and find out how it works. One of the most important things to know is the ins and outs of real estate in the location you are investing in. Ideally, there will be a high demand for real estate in that area. Look for a home with room for improvement and potential.

2. Evaluate the Property. Much like step one, this part can be tough. After you’ve found a potential property, you need to do a thorough evaluation of the condition and the price. Crunch some numbers and see how things add up.

3. Apply for an California Hard Money Loan. This is where things get a little easier. Applying for an California Hard Money Loan is easy, and strictly equity-based. Try to get a loan that covers most, if not all, of the property’s listed price. You likely will not have a lot of extra money to throw around on the project, so ask for what you need on a loan.

4. Start your repairs. Congratulations! If you’ve made it to this step, the hard part is over. You’ve finished most of the paperwork and, if you have a passion for rehabbing properties and homes, this is your time to shine. Create a timeline for your contractors and stick to it. Try not to have all home repairs take longer than one month.

5. List the property. The last and final step is fairly easy. Consult an agent, and price it right. Don’t overprice the home because you know how much blood, sweat, and tears went into it—otherwise it will never sell.

Making money with fix and flip projects and California Hard Money is truly an easy and rewarding experience!

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: califronia hard money loans,california hard money

Are Hard Money Lenders in California Turning You Down?

If you have done your research and have decided to pursue a Hard Money Loan, getting approved should be no problem. However, sometimes it is; and that can be truly disheartening. But, don’t give up! There are ways for you to adjust your approach and get the money you need.

First, you need to keep your deals at our below 65% LTV. That means that you are not asking for an amount that is more than 65% of the property’s value. But, that’s not all there is to it. So much more goes into Hard Money Lenders in California decision than you even know.

Often, it is not just the dollar amount that matters. While it is important to keep that LTV at a reasonable amount, keep in mind that many lending institutions send out evaluators and appraisers to inspect properties on their own terms. It’s not that they don’t trust you or your appraiser’s judgment, they often just need to see it for themselves before making their decisions.

Reasons Hard Money Lenders in California Might be Rejecting You+

Like I mentioned before, it’s a tough situation to be in when you feel that your Hard Money lender is being harsh on you and unforgiving to your circumstances. However, they are trying their best to work with you, but are taking such a significant risk in loaning to you, that they have to protect their assets as well.

One thing Hard Money Lenders in California tend to shy away from is sketchy neighborhoods. This is true for fix and flip loans and investment loans. Several factors are taken into account when assessing a neighborhood: crime rates, cleanliness, the real estate market in that area, percentage of ownership vs. rental, etc. Don’t plan on getting a large loan to fix up a mansion in the ghetto. It just won’t work.

Hard Money Lenders in California want to see a return on their investment. That’s why they’re in the business in the first place; makes sense, doesn’t it? The funds available for these loans come from private investors looking to make a profit on the money they aren’t needing at the time. They need to know you can pay; if you can’t, you may not get approved.

Hard Money Lenders in California are there to help you out, so understand their risk, do your research, and keep pursuing your loan until it works out.

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

Posted Yesterday by Dennis Dahlberg

Labels: commercial hard money lender commercial real estate loan

Setabay Private Hard Money Lender

Wednesday, July 20, 2016

GET HELP

Decide What to Buy by Knowing Your Numbers

Your First Buy

Tuesday, July 19, 2016

Know Before you Borrow California Hard Money

Five Things to Think about with California Hard Money

Getting reasonable rates from Hard Money Lenders in California

Don’t Get Discouraged by Hard Money Lenders in California

Make Money with California Hard Money: Fix and Flip

Five Steps to Make Money through Fix and Flip with California Hard Money

Are Hard Money Lenders in California Turning You Down?

Reasons Hard Money Lenders in California Might be Rejecting You+

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