Setabay Private Hard Money Lender

Friday, April 26, 2019

Is It Possible to Flip Houses in Colorado with Little to No Money?

It might seem impossible, but it is possible to do a flip without any money down. One way is a Colorado Fix and Flip Loan, but let's break down all the options.

There are three common ways to get a property for no money down that you intend to flip. Here they are:

Wholesaling the fix and flip. Wholesaling means selling a purchase contract before you've even bought the property or properties. To do this, you'd find an investor (or a network of investors) and use a document called an Assignment of Contract. This document says that another buyer can take over your buyer's rights before you've closed on the property. You and the investor would share the difference in the profits. This method can be better than plunking all your money into a property, but it also involves a lot of expertise and a silver tongue.
Using Private Money. If you can find a cash partner, you can divide the cost — and, more importantly, the risk — with another person or two or three. Those people could be family members or friends. Or they could be an investment group that goes in together on a smart real estate move. This option is good for people who have at least some experience fixing and flipping properties.
Hard money Colorado Fix and Flip Loans. If you have an existing property that's paid off, you can use that as collateral for a Colorado Hard Money Loan. Colorado Hard Money Loans have more relaxed qualification criteria, so even if you have bad credit or foreclosure in your past, you may be able to get funding. They are typically offered for short periods of time — often between three months and a year — and the interest rates can be higher than a traditional bank loan. This type of loan is ideal for people who already own property and have some experience flipping (although sometimes hiring an experienced contractor can be enough).

Finding the Right Fix and Flip Property

Whether you go with private money, wholesaling or hard money, you'll need to spot the opportunities that will make investors willing to invest. Make sure you're running all the numbers and leaving enough potential profit for everyone to make money. We recommend buying in an established neighborhood or one that's up-and-coming.

Colorado Hard Money Loans for Flipping Properties

We have a lot of experience in the Colorado Fix and Flip Loan business. If you're looking to make a sound investment with little or no money down, give us a call today to see how we can help make it happen.

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.

What Happens If You Default on a Colorado Hard Money Loan?

It's the scenario borrowers (and lenders) dread the most — what if you can't pay back your Colorado Hard Money Loan? Let's look at some of the consequences. Hint: they're not as scary as they may seem.

Everyone who borrows money has the intention to pay it back. And every lender lends money with the intention of getting it back. In a perfect world, this harmony would remain intact. However, life can be messy. There are unforeseen circumstances that get in the way. The property that looked golden ran into all sorts of roadblocks that killed your profit. The city's unreasonable laws messed you over royally. The timeline you'd so meticulously planned went off the rails and you just don't have the cash to make the payments.

With a bank loan, you might default and receive notices for months before the bank would take your property back and evict you. Then, the short sale or foreclosure would be on your record for years and years to come and that can put a serious damper on your ability to make a living or find housing.

Three Scenarios After Defaulting on a Colorado Hard Money Loan

But what about a Colorado Hard Money Loan? By the harsh sound of the name, Colorado Hard Money Lenders would knock on your door and break your fingers, mafia-style and threaten to make you sleep with the fishes.

The reality is much different. Hard money comes from private investors and is sometimes brokered by third parties and this changes the rules a bit. Many lenders are willing to work with you and come up with a repayment plan that works.

Some lenders will have a clause in the contract that will up the interest rate if you default. For example, the rate could go from 7.5 percent to 11 percent. This gives the borrowers more time to come up with the payment and gives the lender incentive to let things go on longer.

A lender could also foreclose on the property, just like the bank. However, unlike the bank, there is another option. Rather than be foreclosed upon and have that on your record for many years, you can often choose to give a deed in lieu of foreclosure. This may satisfy the loan, leaving you free and clear, and leaving your credit score and history intact.

Colorado Hard Money Lenders in Colorado

Every Colorado Hard Money Lender is different and every Colorado Hard Money Loan can be customized to fit your situation. Call or chat with us today to find out how much you can get and how we can work together to get you the funding you need.

Thursday, April 25, 2019

Do Colorado Hard Money Loans Affect Your Credit?

Because Colorado Hard Money Loans are private loans that operate outside the traditional banking system, we get this question a lot around here: will a Colorado Hard Money Loan affect my credit? Let's break it down as clearly and succinctly as possible.

The answer to this question comes down to the differences between a conventional bank loan and a Colorado Hard Money Loan. When you get a common mortgage or loan through the bank, they will run your financial life through a system of checks to see if you're the type of person who will pay the loan back. This will include peering into your bank account to make sure you've got enough for a sizeable down payment and looking at your financial history to make sure you haven't had any major blemishes. The folks at the bank will also run a credit check to look at your score and see if you've had a short sale, bankruptcy or foreclosure in the past. If you have, or if your score doesn't pass muster, they'll reject you flat out.

When they check your score, your credit will take a small ding, typically in the range of five to 10 points. If you end up defaulting on the loan, your credit score will take a major hit and it could haunt you for years to come.

Loans from Colorado Hard Money Lenders work differently in several defining ways. For one, they're offered by private investors so there aren't any major regulatory hoops to jump through. More importantly for our purposes, they're secured by collateral. This means that the lender knows he or she will be able to recoup a loss in a worst-case scenario. Because of this, lenders aren't as concerned about credit scores and past histories. In fact, some may never even check your credit score, meaning you wouldn't even take the small hit you would from a bank.

What if You Default on a Colorado Hard Money Loan?

If you fail to pay back a Colorado Hard Money Loan, the lender can often take action. First, they would probably try to work with you. Barring that, they can foreclose on the property. However, many lenders will also accept a deed instead. It's an important distinction — in the case of a foreclosure, your credit will be affected. With a deed, your credit will remain untouched.

Where Can You Find Out About Colorado Hard Money Loans?

If you're thinking about going the hard money route, you'll want to find out as much as you can first. We're here to help. Give us a call or chat with us online at any time to find out what type of loan will work best for your situation.

People Denied by the Bank for a Loan Get Owner-Occupied Hard Money Loans in Arizona

Don’t stress over not being able to get a loan from the bank. Owner-occupied Hard Money Loans in Arizona can help you get the money you need quickly.

We understand how you feel right now. You applied for a loan from your bank, so you can invest in real estate, but they denied you. Maybe it was because of a low credit score, or you don’t have enough income, or one of the other excuses they come up with these days. What matters is that they aren’t going to give you money, and you need money.

The reason we became private lenders was so we could help people like you in your situation. We know that you need money so you can make money. We also know that not everyone has cash lying around to do it. Does that mean you should remain in your current financial situation forever? No, not at all. That’s why we do what we do.

About Owner-occupied Hard Money Loans in Arizona

Owner-occupied Hard Money Loans in Arizona are exactly what you might think – you use your current property that you live in to secure a loan. Since most people in your situation already have a house with equity, this makes it easy for us to lend you money.

We don’t want to take your property, but we really have no choice but to put something at risk. If we didn’t, people would borrow money from us all the time and never pay it back. Then we would lose money and not be able to help people like you.

What you need to know about Owner-occupied Hard Money Loans in Arizona is that the money is available privately. That means it’s in our own accounts and we handle all of the processes that go into lending it to you. This means you don’t have to wait days for approval and you don’t need to wait weeks for the money. Within hours you can find out if you’ll be able to borrow the money, and then within a day or two you’ll have the money.

It really is that easy to get Owner-occupied Hard Money Loans in Arizona.

People usually don’t think of getting Owner-occupied Hard Money Loans in Arizona because they don’t know about them. Since we’re private lenders, it’s hard to get the word out about it to people who need it. That’s why we depend on people like you who have now learned about it and may use it to let others know how incredible it is for getting ahead financially.

The process of getting started is so easy. All you have to do is reach out to us. Once you do, we will gather some information about you – don’t worry; it’s not a lot and there’s not a ton of paperwork. Once we have the information, we will check it out and then make a decision. Most people who apply get approved.

After approval, we set up the funds to be sent electronically to your bank account. You should see it in a couple of days depending on how fast your bank receives the money.

We know you must have a ton of questions, so go ahead and give us a call. We can answer all of your questions thoroughly and in a way that makes sense. We look forward to being your private lender.

Owning and Profiting from Vacation Rentals with Residential Hard Money Loans in Arizona

If you’ve ever dreamed of having a vacation rental, you need to read this. Residential Hard Money Loans in Arizona can help you make a dream a reality.

Imagine being able to vacation with your family any time you would like in a rental that you own. The times you are not in the vacation home, you rent it, and make a lot of money doing it.

Millions of people do this all the time. This is your chance to do the same thing.

How Residential Hard Money Loans in Arizona Make It Possible

With Residential Hard Money Loans in Arizona, you can get the cash you need to invest in a vacation home. The first step is to find one that you would like to purchase. The next step is to call an Arizona Private Money Lender.

This Arizona Private Money Lender has the money you need to buy the vacation home. Since the person is private, you don’t have to deal with the bureaucracy of the banks. You simply can just wait for the cash to be deposited into your account, and then use it to buy the vacation home.

If you think you need to have perfect credit or have a lot of money in the bank to do this, you don’t have to have either of those. That’s what makes Residential Hard Money Loans in Arizona so great.

All you need is collateral to ensure you pay the money back. This is property with equity.

If this makes you nervous, don’t worry too much about it. The reason being that if you buy a vacation home in a desirable area where people want to visit, you will have no problem renting out the house. Before you know it, you’ll make back the money to pay back the loan. After that, it’s all profit and good times with your family.

Most people who get Residential Hard Money Loans in Arizona do it to finance their vacation rental because it’s quick and easy.

No one wants to get caught up in the red tape of banks and other financial institutions when they are trying to do something good for their family. Owning and renting a vacation home is one of the most lucrative real estate investments you can make, and there’s no reason you shouldn’t do it. All you have to do is muster up the courage to take the first step.

Don’t miss the chance to get a vacation home for you and your family. Contact us for more information about Residential Hard Money Loans in Arizona. We help people like you every day make the dream of owning a vacation home a reality. We can do the same for you.

Wednesday, April 24, 2019

How I Used Arizona Hard Money Loans to Help People in Need

I always wanted to help people, so when I learn about Arizona Hard Money Loans, I knew that was what I needed to make it happen. Learn how I did it here.

Millions of people all around the world are homeless. It breaks my heart to see them living without a roof over their head. I wanted to do something to help at least a few homeless people, but I never had enough money to make it happen.

One day I was browsing the Internet, and I stumbled upon Arizona Hard Money Loans. All I had to do was use my property as collateral and I could get the money I needed. What was great about it too was that credit history doesn’t matter like it does with banks.

Once I had the money in my account, I was free to purchase the apartment complex I had seen in the paper just last week. I was happy that it was still available.

Since I had cash, it didn’t take long before I closed on it. The great thing about this purchase was that I didn’t have to spend a lot to get it ready for the residents.

Paying Back Arizona Hard Money Loans

You’re probably wondering how I was able to pay back the Arizona Hard Money Loans since I was having homeless people live in the units.

Once word got out that I was doing this for the homeless, many people started to donate money to help me pay the loan back. The community support was amazing, and it felt really good that people were so generous in this way. I wasn’t the only one who wanted to help people!

After I paid back the loan, I continued to help the homeless in the apartment complex by getting them jobs in the community, and helping them get different services set up so they would be successful living off the streets.

I plan to do this again as soon as I have the time to do it. I want to make sure the current residents are successful before devoting my time to more people.

I would have never been able to do this without Arizona Hard Money Loans.

There’s something about doing this with Arizona Hard Money Loans and then raising the money. Raising the money first just doesn’t work as well because people don’t know where the money was really going. Give it a try yourself if you’re looking to have the same type of impact I have in the community.