Setabay Private Hard Money Lender

Thursday, July 21, 2016

Commercial Hard Money Lenders: What You Need To Ask

You’ve done the unthinkable and narrowed down your potential options for commercial hard money lenders. But, do you know just what to ask your future lender to make sure they are the right lender for you?

This may not be your first time looking for commercial hard money lenders and it may not even be your first time using these particular kinds of lenders. But, that doesn’t mean you can’t hone your hard money skills. In other words, you could very well be missing out on great commercial financing simply because you haven’t asked the right questions or even asked the top questions. With that being said, let’s go over what to say to these commercial hard money lenders once you get your foot in the door.

Of course, you always what to figure out what the process is for hard money loans and what your potential interest rate will be as well as what loan-to-value your potential lenders are looking for. But, these three specific things you really need to know before even meeting face-to-face with your potentials. Nevertheless, if these things are not on your list of questions they should definitely be in the top 5.

Other useful things to inquire about when dealing with hard money lenders include finding out what the actual term or timeframe for the loans, the costs for additional loan related matters (title policy, appraisal, insurance and so on), if a draw request is applicable i.e. can you receive money pay for repairs, if putting any money down is require, how much of impact your credit have and if you have the option to deferred interest after the term of the loan. Ultimately, these particular questions allow you and your lender to be on the same page regarding your commercial loan.

How to Evaluate Your Hard Money Lender?

Once you’ve gotten to the bottom of all the terms and requirements of your loan, it is important to evaluate your actual lender. Yes, some of the above-mentioned questions will give you a good sense of who you are about to do business with. But, you should also make sure that your lender is the right lender. This means finding out about your potential lender’s funds availability, getting good references from other borrowers as well as confirming that your lender is licensed, bonded and insured. These few steps will make sure that your lender is not only the right lender for you but also the best lender for your investment.

Commercial Hard Money Lenders who are there when you need them

Lastly, consistency matters i.e. you want a hard money lender that you can truly count on. Consequently, your potential hard money lender, in no shape or form, should be afraid to answer your questions or be unclear on any of the details regarding your loan. Remember, at the end of the day, you need a lender that will be there when you need them and not just financially. So, take your time in reviewing their responses. Moreover, take note your potential lender’s overall openness and/or willingness to help you succeed with your future investment.

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.

Why do California Hard Money interest rates seem to be higher than bank rates?

Why the high interest rates on California Hard Money loans?

You may have heard the term “Hard Money” floating around in recent years and considered the possibility of purchasing a home this way. However, the little bit higher interest rates that come along with California Hard Money tends to scare borrowers away. Make sure you know the basics of California Hard Money before writing it off completely--you never know how you could make it work for you!

The first thing to understand is that California Hard Money loans are equity-based. That means your eligibility for a loan does not come from your credit, ability to pay, or employment status. In fact, the loan is solely based on property value. What does this mean for you and your lender? Quite simply, it means that you have not been able to get approved for a traditional bank loan. It also means than a Hard Money lender is taking a significant risk by allowing you to borrow his or her personal money for a time, honestly not knowing if they will get it back. Hard Money loans take a significantly higher risk than banks because the loans are based so little on you and so much on the property value.

Another thing to remember is that California Hard Money loans are typically shorter than bank loans. Usually, these loans last anywhere from 6-36 months, but can fluctuate depending on the situation.

Another reason borrowers experience a bit higher interest rates is because they are not required to pay any application fees, recording process fees, documentation fees, or closing costs. All of those expenses add up quickly and they have to be accounted for somehow.

The main reason California Hard Money loans charge a bit higher interest rates because of the significant risk taken on behalf of the lender. These lenders go where banks refuse to go, and they lend to those individuals who would never be loaned to otherwise. They don’t look at a borrower’s ability to pay--they simply trust that that borrower will do what they say they will.

What about LTV in terms of California Hard Money?

Simply put, the LTV stands for the Loan to Value ratio of an California Hard Money loan. Sometimes, borrowers can receive up to 80% of the money pertaining to the property value. Most of the time, this number is anywhere between 65% and 80%. This is determined on a case by case basis and is a decision made between you and your borrower.

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

Wednesday, July 20, 2016

Get big money through Hard Money Lenders in California.

If you are one of the thousands of Americans who are struggling to make payments for your mortgage, don’t stress too much. It’s not your fault, tragedies occur unexpectedly and often times at the wrong time. However, there is good news for you. You can attain a loan of money to help you get back on your feet through Hard Money Lenders in California. There are many Lenders in California that are waiting to hear from you! They understand what you are going through, and they derive satisfaction with helping you overcome your financial troubles.

Allow me to give you a brief definition of what Hard Money or “private money” is. This type of loan is derived from private sources such as investor's personal funds, pension plans, and other non-traditional sources. The best thing about Hard Money Lenders in California is that they don’t base your qualifications of getting a loan by your credit score/history, but by the value of your equity.

Take advantage of Hard Money Lenders in California and apply today for a loan.

Trust me, if you are going through financial difficulties, there is light at the end of the tunnel. You must never give up and Hard Money Lenders in California won’t let you give up. The process of being approved for a loan is rather simple. Just make sure to have your financial records handy. All you have to do is the following:

1- Call a Hard Money lender in your local area and explain to them your intentions.

2- Once a time is arranged, they will come to your property and will give you an evaluation. Within 30 minutes after they have evaluated your situation, they will have your answer for you.

3- Once approved, there will be some paperwork to fill out. Make sure to have your financial records handy.

4- After you have that taken care of, you will have your loan within a time period of 24 hours.

See how easy that is! Hard Money Lenders in California are there when you need them and want you to succeed. Don’t wait until it is too late though, many people are seeking their help and funds go quickly.

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

Get approved today for an California Hard Money Loan.

Do you have a bad credit history/score and can’t get a loan because of it? Well, don’t worry, I am sure you are not alone. Fortunately there is a solution to you and the millions of people who share the same problem. Have you ever heard of Hard Money before? This term is also referred to as “Private Money” or “Equity Loans.” These type of loans are unlike your typical loan from the more traditional route of a bank, but they are from methods such as private sources such as investor's personal funds, pension plans and other non-traditional sources. California Hard Money Lenders are available to help.

What’s neat about these types of loans is that they are not based on your credit history, but rather on your equity. How awesome is that!

The steps to attain an California Hard Money Loan are easy.

As I had mentioned earlier, don’t worry about having a bad credit history. You won’t even have to wait that long to attain an Californian Hard Money Loan. The process of acquiring a loan is easy, really. The first step is to simply find and call a local California Hard Money lender. After they get to know you and your situation, they will come out to your place and will evaluate your property to see how much it is worth. After they have compiled the information they need, they will get back with you in a matter of 30 minutes to tell you if you were approved or not. If so, there is some documentation needed to take care of by both parties, so plan on having your financial records handy nearby that is easily accessible. The faster you can have them filled out, the faster you will receive your loan you deserve. After all the paperwork is filled out, it takes less than 24 hours to receive your money.

Easy, right? This provides you a way to get your life back together and on track. California Hard Money Lenders are waiting for your command!

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

Is California Hard Money Really “Hard”?

If you’re new to the money lending world, the term “Hard Money” might sound a bit intimidating. I can be the first to tell you that it’s really not. There is soft money and Hard Money in the world of loans, but without going into extensive detail, let’s just say the two are different. California Hard Money is based upon hard assets. In all aspects, Hard Money is essentially the easiest to get approved for.

California Hard Money Loans are equity-based—so it’s about the assets, not your credit, income, or financial history. However, some Hard Money Lenders will want more information about you; but, for the most part, they are more interested in the property you are looking to buy.

A Few Types of California Hard Money

There are a few different types of California Hard Money Loans. First, there are commercial Hard Money Loans. This is for commercial properties, not personal properties.

Then, there are business Hard Money Loans. This is where the loan is based upon the hard assets of a business such as accounts receivables or cash flows.

The other (and perhaps most common) is residential Hard Money Loans. These Hard Money Loans are usually for individuals or families looking to fix up a property or purchase their dream home.

Keep in mind that an California Hard Money Loan is not a signature loan. (A loan without any assets whatsoever, but based on credit score, work history, income, etc.). If you’re looking for a signature loan, talk to your bank about that. The whole purpose of a Hard Money Loan is asking for a loan based on the property you are looking to invest in.

That’s something that you should ask your bank to do and your bank is going to look at your credit, job history and all kinds of stuff and they are going to determine based upon you, not based upon your collateral because you don’t have any.

Talk to your nearest California Hard Money representative to see if you qualify for this type of real estate loan today!

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

The Timeline of California Hard Money

Like we have mentioned in so many of our previous posts, no two California Hard Money Loans are alike. That’s the beauty of Hard Money—it is based on you. Your Hard Money lender will work with you to ensure the lowest rates possible, but there are really no across the board answers on Hard Money Loans.

However, many of you are asking about the timeline to expect on California Hard Money. Undoubtedly, the sooner you get your money, the happier you will be. But what can you expect from your lending institution? How soon is too soon and how long is too long to wait?

One of the most important things before making a loan application is to have the property under contract. It’s really hard to get financing on something, which is not under contract.

Begin the California Hard Money Process Today

If you get started today, you could have your money tomorrow. It’s entirely possible and it happens all the time. Again, that is not the case for all California Hard Money Loans. The whole process starts with you getting the ball rolling.

Many lending institutions will require you to fill out a loan application right away. At Level Four Funding, we try to keep the paperwork to a minimum so we don’t do that. The first step is for you to contact us and tell us your information.

Then, we take a look at the property you are looking to take out a loan on. We may send evaluators out to look at the property, or we may just go with the information you provide us. We need to know the value of the property in order to provide any sort of funding. Believe it or not, we can get you your loan approval within thirty minutes and your funding within 24 hours. This is significantly faster than most lending institutions, and that is because we have an entire team of professionals and experts working to approve you today.

All in all, the process could take up to a few days, but no longer than a week. Don’t stress if yours takes a bit longer—that certainly doesn’t mean you are going to be denied California Hard Money.

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

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.

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

Setabay Private Hard Money Lender

Thursday, July 21, 2016

Commercial Hard Money Lenders: What You Need To Ask

Why do California Hard Money interest rates seem to be higher than bank rates?

Why the high interest rates on California Hard Money loans?

What about LTV in terms of California Hard Money?

Wednesday, July 20, 2016

Get big money through Hard Money Lenders in California.

Take advantage of Hard Money Lenders in California and apply today for a loan.

Get approved today for an California Hard Money Loan.

The steps to attain an California Hard Money Loan are easy.

Is California Hard Money Really “Hard”?

A Few Types of California Hard Money

The Timeline of California Hard Money

Begin the California Hard Money Process Today

GET HELP

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