Setabay Private Hard Money Lender

Friday, March 29, 2019

What is a Arizona Fix and Flip Loan? Would this odd-sounding type of funding help you out?

(Basically this kind of loan involves a buyer purchasing a home strictly to sell—flip, if you will—as soon as possible. Most of the properties bought are in need of renovation. Once done the house is put on the market and sold, hopefully, at a decent profit to the owner, who then can pay off their loan and still have money in-pocket.)

Arizona Fix and Flip Loans are short-term types and most customers seeking one invest with hard money permitting them to purchase, repair and sell the property over the next year. Since the property is technically appraised before and after a renovation is performed, it is better to deal with private investors and people you already know who can better gage your ability to finish the job once you get funding.

The process takes a lot less time than the conventional lenders who are compelled to go through your credit history with the proverbial fine-toothed comb. One negative item or hole –a foreclosure, for example—will stop the entire effort while they check you out more closely to see if this will adhere to the strict rules they have to work by. Very often you are defined as less than a good risk and back to where you began.

A regular loan looks at a home or other building’s present value, but these types are less expensive in terms of interest and fees than non-conventional loans. A standard funding setup generally requires very good credit while the private funders and groups look towards what you have accomplished in the past and what you are working on currently instead of a high credit score.

Getting funding may be difficult if you are a beginning investor—you may have to set up an escrow account, borrow against personal property or both. An interest rate can range from 10 to 20 percent yearly.

What are some advantages of Arizona Fix and Flip Loans?

These loans are not bound by a lot of the rules that traditional funders are restricted to, such as not lending money if a property has any real health or safety concerns.

The amount of time it takes to be approved and closure completed is another relief to most investors. The process can take less than two weeks if you end up with a professional company that knows how things work. They are, however, looking at the recovery end for themselves and want to be confident that you can fix the property defects correctly and sell as soon as possible, allowing them to get their money back. In order to assure this, liens are attached as a security measure.

Another positive note is that the longer an investor is in business and doing well the majority of the time, the less he or she will pay for a loan in the long run. Occasionally a borrower can receive 100 percent of money requested and have several projects in progress at once.

Do all the research necessary before taking on a Arizona Fix and Flip Loan—know all the disadvantages as well as the advantages. They are not the answer for everyone—if possible, borrowers need to be certain of performance as an investor is of repayment. It pays to have all the facts—take time to learn.

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.

Thursday, March 28, 2019

Colorado Hard Money Loans to the Rescue!

Investors with poor credit know that you can’t wait months or even years to repair their credit in order to make moves. Colorado Hard Money Loans allow them to quickly obtain funds.

According to credit.com, about one third of Americans have a credit score lower than 601. That can be a huge determining factor in a bank’s decision to fund a loan. It’s a fact that has to be faced along with the fact that it can take months or even a year or more to fix a credit score. While it’s absolutely a good idea to work on your credit, investors don’t have the luxury of waiting.

Purchasing real estate as an investment is a great way to make money, but when the market is hot investors need to move quickly. Places like Level 4 Funding allow those investors to get their loan funded much quicker with a Colorado Hard Money Loan, without scrutinizing the borrower’s credit.

We can also create flexible lending terms to fit the situation. We don’t have to follow guidelines that may be harmful to someone’s real estate deal.

Lightning Fast

We’ve been known to fund loans in a matter of days! Forget the waiting game. If you come to us with a well-rounded business plan to put our money to work, we’ll make your Colorado Hard Money Loan happen!

Terms to Fit Your Loan

The best part of giving out Colorado Hard Money Loans is being able to custom design the loan terms for each client. Many of our clients use our loans for fix and flip properties that they won’t own for a long period of time. That’s why we make sure to build the loan around the situation.

Is It Right for You?

Another upside to working with a Colorado Hard Money Loan is that your lender is going to give you personalized attention. We are investing in your future and want to know about your plan, your ideas, and what our money is going to fund.

You can call us today to learn more about our Colorado Hard Money Loan offerings and how we can help make your real estate investment dreams come true. We will walk you through the process and make sure you are comfortable with what we have to offer and whether our terms and financing structures will work for your project!

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Arizona Hard Money Lenders: could these less-than-traditional lenders be the answer to your funding problems?

(All the ads—internet, paper and the current pain, robo calls—say they can solve your funding problems, no matter your past financial history, etc. Take the time and effort to find out if one of these could actually help you locate the money in order to make your current project into reality instead of words and drawings on paper.

Arizona Hard Money Lenders have come quite a distance from the time when they were termed as someone you did business only if you couldn’t get a deal from anyone else. It was said they were a dark shadow on the industry. Today it is very different—Arizona Hard Money Lenders rank alongside conventional mortgage lender sand banks, conducting business from a different angle with methods that make it somewhat easier for some individuals’ money needs.

Working from independent businesses or private investors, these lenders lay out a plan where the borrower gets their loan with security through real property value, that being something the customer already has possession of or is going to acquire in the near future. The borrower is required to provide a detailed business plan for the property they wish to buy as well as how they intend to repay the money they are asking for. The lender generally has the customer paying interest and a fraction of principle monthly with the remaining amount due at the end of payment period. Terms can be as short as one year or as long as five years.

What will you gain by working with a these type of lenders?

These lenders are set up to help out people who have or have had problems that keep their applications from being acceptable to traditional funding agencies whose requirements are more numerous and much stricter. Individuals who don’t have a company supplied income with a straight-line 9 to 5 job often find it hard to obtain a loan from a bank or mortgage company. If they have a foreclosure or loan modification in their financial history, this slows down the already long application process and sometimes makes it impossible for funding to be dispersed.

Any one of these things could knock your application out of the running, losing you all the time and effort put in already. Starting over will mean the same thing at other companies. This is when a hard money lender could be exactly what you need since they tend to emphasize whatever collateral you have and your ability to repay rather than a perfect credit report or your past income history. Occasionally a loan can be applied for, accepted and closed within as short a period as two weeks.

Research deeply and thoroughly to find out everything about these type lenders; compare both the positives and negatives—funds obtained via this route have a higher interest rate attached than conventional monies. Talk with both these lenders as well as the more well known ones and once you have all the needed information, make your appointments and go after what you have been dreaming of.

Arizona Hard Money Loans: A Different Approach to Funding

Everywhere you look there are ads inviting you to borrow funds through traditional lenders—banks, mortgage companies and the like—but is the standard way the best choice? Find out if a non-traditional loan might be better.

Financing is the biggest problem a would-be investor has when starting unless he/she has a considerable amount of personal funds to invest and most of us don’t fall into that part of the population. Let’s say you have tried to invest before and while it went smoothly for awhile, life changed things and they all required money. Plenty of it.

The next thing you knew you had declared bankruptcy in your business and downsized it and a block of land you had purchased was foreclosed upon by the bank. This all happened in the last five years and despite your landing pretty much on your feet, the business coming back and most of the bills paid, those two items burnt holes in your credit report and knocked a considerable number of points off your score.

The conventional lenders you have seen about a loan to purchase two apartment buildings were very nice—one was a bank and the other a mortgage company—but neither of them could do anything to help you. As you went out the door of the mortgage company, the lender you had been talking to motioned you aside and said quietly, “Try the Arizona Hard Money Lenders—those people aren’t tied up with all the restrictions we have, although they do cost more.”

What is an Arizona Hard Money Loan? And is one right for you?

These loans are set up differently than conventional ones and are designed to aid the potential investor who has credit issues, low cash reserves, is self-employed, etc. The one thing that is needed here is collateral to back your getting the loan—the lender is much more interested in what you have to literally fall back on than your having a perfect credit score and a straight-line job that pays every two weeks. A lien will be placed upon the collateral by the lender to cover their interests in the event you cannot repay your loan.

A second positive point with Arizona Hard Money Loans is the time it takes for one to be processed and closed—it can be done in an average of two weeks’ time as opposed to a bank which can take six months easy. This is an especially good thing when you could end up taking all the time needed and getting required documentation for a bank, only to be told, “We’re sorry—we just can’t approve your application.”

Third, payment times and schedules can often be tweaked to favor your calendar rather than the lenders’. If you need five years to pay the loan back instead of two, an Arizona Hard Money Lender can generally work with you on that.

A different loan may be helping hand you need. Get out there and look for the one made just for you.

Do what the mortgage lender advised—research the hard money people in your area, find several that are offering loans which appeal to you and set up times to talk with them. You’ll meet new people, learn things that could help you in the long and perhaps walk out the door with possible funding for your future project.

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Private Money Lenders: you may need a detective to find them, but they pay off in the end.

(A Private Money Lender In Arizona could possibly solve your current funding difficulties .This is especially true if conventional funding is unavailable. Check into these loans to discover if they are what you need.)

Someone has suggested real estate as a good area to invest in and you agree with them. However, when you were younger, you bought a piece of property in the hopes of selling it at a profit, but the deal didn’t work out and a personal matter ate up the savings which would have kept you solvent with payments. The bank who had loaned you the entire amount for buying foreclosed. As a self-employed contractor who is paid by the job, your income is described as not steady even with all your debts being paid off now and money coming at a relatively good rate. Traditional lenders, as you have discovered, will look at these things and either deny your application altogether or hold it so long that the property you had in mind will be sold to another buyer who has funding available.

Your tennis partner suggested that you look into hard funding, pointing out that Private Money Lenders have another focus for lending money and better still, numerous types of loans, ranging from bridge and rehab loans to commercial and business only funding. First on the list—research private lenders and investigate the ones who are experienced in the kind of loan you need.

Why is this sort of lender a positive choice for funding?

Private Money Lenders In Arizona set up their lending via a secured loan, mainly concerning property that will be purchased, renovated and sold as soon as possible, sometimes commonly termed a ‘fix and flip loan’. The security or collateral reduces the lender’s losing their money in case the borrower becomes ill or cannot pay back the money for whatever reason. This also is a benefit to both lender and borrower’s taxes when everything is properly structured. Fees, normally negotiable, are generally charged to the customer by the financier.

The common term for these lenders is ‘relationship-based investor’ due to the fact you may borrow from a close friend or a work colleague, as well as going through corporations that are designed for the business of short-term investment funding.

You must look carefully into the aspects of private funding since each loan is designed individually and conditions stretch from the kind of loan and time for repayment to what the down payment percentage will be and what interest rate will be charged. A down payment usually has the borrower making only interest payments over the length of the repayment period and then making a single large payoff (termed a balloon payment sometimes) at the end of the term. Normally the time is around twelve months.

Be a detailed hunter—note every broken branch and side trail and find out what Arizona Private Money Lenders have to offer, how much you have to gain and what position you hold. Go after that better life you have been wanting!

90% Arizona Hard Money Loans: Difficult In Some Ways, Very Good For Business In Others

If you would like to have partially-financed hard money set up for your latest project, there are loans out there set up specifically set up for investors who can work within the strictures required for this. Research the details of financing up to 90% hard money to find out if you can go this route.

LTV (loan-to-value) Arizona Hard Money Loans are on the very high end of the Arizona Fix and Flip Loans category. Depending on where you are, companies’ rules and regulations vary, but the general overall picture can look something like this. As an investor beginning an application for a 90% Arizona Hard Money Loan, you need to have a FICO score of 600 or above. You must also be relatively certain of selling the desired property within 12 months. From there you may:

· Apply for loans starting at $75,000 (Some companies begin their loans at $25K) and up to $2M, which if cleared, will definitely improve the condition of your real estate portfolio.

· Have a property appraisal that is scaled back and not overly involved since the lender is more interested in the value resulting after renovations are made.

· Receive up to 90 percent of rehab and purchasing costs.

· Get 12 months financing and the time period can even be longer—this is just the average time length. And to really make the package attractive, no prepayment penalty.

This process can be completed within a short period of application time normally. Following approval, closing can be done in less than a month.

What things do you need to include with your application for a 90% Arizona Hard Money Loan?

Documentation is required for these types of loans and bears a resemblance to more traditional lenders’ requirements than some other unconventional loans do. You must produce your sales agreement, tax returns for the past two years, two months’ banks statements showing your savings and checking accounts, a list of your current residential and commercial properties and a copy of your construction budget. There are other paperwork demands, but this shows the overall average requirements for most companies who do these types of financing.

These loans are mainly for the fix-and-flip investment areas--they do not cover owner -occupied properties. They do however cover a large number of other real estate investments, both residential and commercial.

A partial Arizona Hard Money Loan may be exactly the type financing you need. Do your homework and see if this area of borrowing is what you need to pursue.

To be certain, the requirements are more stringent than some other financing, but if you have credit problems and have gone the traditional route with no results, investigating one of these loans might be just the thing you need to do. Check things out with people you know and whose opinion you value, set up a few appointments with lenders who handle 90% LTV Arizona Hard Money Loans and find out how you can help your ideas become solid realities.

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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.