Setabay Private Hard Money Lender

Saturday, June 1, 2019

Who are Commercial Hard Money Lenders?

Borrowers seeking out loans will have the opportunity to work with either public or private lenders? But what’s the difference? And how can you make the most of those differences in your personal situation?

Public lenders are traditional loan lenders composed of banks and credit unions. They are regulated strictly, and approval does not always come easy. Great credit score, debt to income ratio, and financial history are all key things that will play a role in whether or not you qualify. Paystubs, job history, taxes, debt, and properties are all things you will discuss when meeting with your local public lender. If you find, however, you have an imperfect financial history, you may be referred to a private money lender.

Arizona Private Money Lenders are untraditional lenders composed of individual companies and investors who aren’t as regulated as banks. When you meet with your local private money lender, you will find you won’t have to provide as much documentation. Their focus will be on the collateral of the property they are investing in. They do want to know you are a reliable candidate with potential, but they won’t disqualify you for imperfect credit scores.

What You Need to Know About Private Lenders

Private lenders offer hard money. These commercial Arizona Hard Money Lenders aren’t strictly regulated, however, they do have a few strict specifications to their loan agreement. For example, they offer hard money, a short-term loan with high interest rates and fees. The expense is high—and with a quick turnaround, too! Commercial hard money lenders, though, are very personable. They get to know you, your property, and your situation. If you need a loan extension, they are likely to offer you one. Usually, hard money is expected to be paid off within a year or less, though it is not uncommon for private lenders to extend the loan as long as five years. Because of the timeline, many borrowers of hard money use it for fixer uppers. The goal of a fixer upper is to fix, flip and sell—quickly. A successful flip literally lends itself to the timeline of hard money. Preventing foreclosures is another common use of hard money because commercial Arizona Hard Money Lenders can offer speed. A public lender may need as long as a month to get the process going, but a private lender may only need a week. Speed is never a bad thing—especially when budgets and timelines play such strong factors in your success.

How to Know What’s Right for You

If you are interested in hard money, research local private lenders in your area. Find out what kinds of projects your lender has done and what kind of success their clients have had. Remember to take your time! Speed is a good thing when the process gets going, but there is never any need to rush your decisions. Take time finding the right private lender for you, and take your time discovering the right property. A first-timer into the housing market will want to make decisions that are low-risk, and you will only know what that means to you and your plans by putting in the time, energy and research to find success.

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.

Who are Commercial Hard Money Lenders?

Borrowers seeking out loans will have the opportunity to work with either public or private lenders? But what’s the difference? And how can you make the most of those differences in your personal situation?

What You Need to Know About Private Lenders

How to Know What’s Right for You

Friday, May 31, 2019

When to Turn to Commercial Hard Money Lenders

When borrowers seek out loans, they may consider both traditional and untraditional methods of borrowing. But what kind of borrowing works best? And when is one option better than the other?

Borrowers may turn away from traditional loan lenders because they don’t qualify and there are options with more potential elsewhere. Traditional loan lenders are composed of public lenders like banks and credit unions. In these cases, the standards to be a borrower are high. You must supply paystubs, financial and job history, as well as tax and credit reports. Great significance is placed on your financial history, and it can make or break you when qualifying for a loan with a traditional lender. Fortunately, there are other options. Many people turn to Arizona Hard Money Loans when they don’t qualify through traditional means.

Arizona Hard Money Loans are offered by untraditional, private lenders. Private lenders are individuals or companies who invest based on collateral. This means that they focus on the potential of the property as well as your ability to make a profit with your plans for it. In this way, commercial Arizona Hard Money Lenders can offer an extremely personal and transparent experience that public lenders can’t. They also offer speed. Their ability to begin the loan approval process is 4x faster than pubic lenders who can take as long as a month. Taking advantage of the speed they can offer is never a bad thing!

Things to Consider

While commercial Arizona Hard Money Lenders offer many benefits, there are a few things to consider. One is their high interest rates and fees. These interest rates can be as high as five percent more than average rates on the market. Additionally, they have a short-term repayment period, usually lasting six months to one year. Because Arizona Hard Money Lenders work on a much more individualized basis, it is not uncommon to obtain a loan extension from anywhere between two to five years. However, coupled with the high interest rates, it may not be the best decision for you. Being realistic is going to save you a lot of pain and misfortune in the long run, even if it seems a lot of your issues can be solved by speed.

Are Commercial Arizona Hard Money Lenders Right for You?

Every situation is different, as is every private money lender. If you are interested in pursuing a loan with a private lender, put in the research. Determine what lenders are local to your area, and research the kinds of projects they have worked on. Consider how your project functions in relation to your lender. Moving forward with the project will require that you provide documents outlining your property, plans and financial history. Go to your lender prepared. You will have to prove to them that you are capable of turning a profit—just make sure before you go you are confident in that yourself.

How to Make a Profit with Arizona Spec Home Financing

It’s possible to obtain funding for projects from both public and private lenders—but what’s the difference between them? How do you know what the best option is for you?

Public lenders like banks and credit unions are traditional loan options. They generally have strict requirements when it comes to qualifying for a loan, and it can be overwhelming if you know your financial history is imperfect. Unlike public lenders, private lenders are untraditional options that are less regulated. Many people who don’t qualify with traditional lenders seek out the benefits of private money lenders.

Arizona Private Money Lenders offer hard money. The process is quick and handled with much more transparency than public lenders. If you are seeking out a loan for Arizona spec home financing, maybe borrowing from private Arizona Hard Money Lenders is right for you.

What You Need to Know About Arizona Hard Money Lenders

While the benefits to working with a private lender on your Arizona spec home financing project, there are a few things to consider first. The most important thing to know is that they offer short-term loans with interest rates that can be five percent higher than most on the market. Sometimes there can even be extra fees, though that depends on who your lender is. All Arizona Private Money Lenders are different, but it’s definitely possible to get an extension. It’s not uncommon to get an extension for two to five years. In this way, private Arizona Hard Money Lenders are very individualized. However, they focus on you as the individual in another way: during the loan approval process, they significantly weigh the property’s collateral and your ability over your financial history. Focus is drawn to the property’s potential, your plans, and what you can do. Finances will play a small factor, but it definitely won’t make or break you—especially if you’ve put in the time, energy and research.

Becoming a Successful Borrower

If this is your first time funding a project with Arizona spec home financing, take small steps. Start by finding a local lender and an “improved” property. It doesn’t matter how great the property is, most lenders are only interested in projects within their geographical location. An improved property will already have key features including curbs, water and power lines, and sewers. Raw properties will not have these advantageous characteristics, and will require you to spend more money in the long run. Additionally, these characteristics look great to potential buyers. When you’re considering potential lots, you also want to consider its location in terms to nearby business districts. Homes close to restaurants and local businesses are more marketable than more remote locations. Whatever you do, don’t rush your decisions. Take your time in seeking out both your lot and your lender. Make decisions that support you, your finances and your plans. Investing in properties that have low-risk factors is always a great choice for the first-time spec home investor. Do your research and bring it when it’s time to meet your lender. Proving you are capable of the project will be a major part of the journey as a borrower with a private hard money lender.

How to Make a Profit with Arizona Spec Home Financing

It’s possible to obtain funding for projects from both public and private lenders—but what’s the difference between them? How do you know what the best option is for you?

What You Need to Know About Arizona Hard Money Lenders

Becoming a Successful Borrower

Taking Advantage of Arizona Spec Home Financing

Traditional and untraditional money lenders are regulated in different ways. These differences allow for borrowers to have different options when seeking out loans. So, how can you take advantage of these differences?

The difference between traditional and untraditional lenders is the difference between public and private. Banks and credit unions are examples of public lenders, and individual companies and investors are examples of private lenders. Arizona Private Money Lenders have less requirements and regulations when it comes to approving borrowers for loans, making them a great option for those who may need it.

Arizona Private Money Lenders offer hard money. They can offer it fast and with more transparency than banks. If you are seeking out a loan for Arizona spec home financing, perhaps a private hard money lender in Arizona is right for you!

The Basics of Arizona spec home financing

Before jumping into a Arizona spec home financing agreement with your local private hard money lender in Arizona, you need to understand how a few things work first. You need to know if a short-term high interest loan is right for you. Compared to other loans on the market, the interest rate can be as high as five percent more than average. The expected timeline of these loans is six to twelve months, but it is not uncommon to get an extension for up to five years. Working with your lender will be super individualized, especially compared to the bank. Legitimate private lenders are known for being generally transparent and personable. The goal is to invest in the potential of you and your project—and if they aren’t feeling it, they will tell you. When you meet with your lender you will want to provide a business plan, tax returns, bank statements and a marketing plan for your spec home. The ultimate goal of the spec home is to turn a profit—and you need to be able to prove to your lender you will be able to do so.

Tips and Tricks

Funding plans for Arizona spec home financing usually begins with finding a local lender. Most lenders only want to work on projects in their location. The lot should also be considered an “improved” lot. This simply means it is more than just an empty lot. It should have curbs, power and water lines, and sewers which will help increase its chances of getting a buyer. Your lot should also be near a populated area. Being close to local businesses and restaurants increases the appeal for potential clients who want the social opportunities. If it’s your first spec home, you also want to make sure you choose a project with low risk factors. Being feasible and realistic throughout the process will help ensure you’re successful, and have the opportunity again to profit off another project in the future. In general, private lenders can be great options because they emphasize collateral and your ability to complete the project, instead of a possibly imperfect financial history. If you are interested in utilizing a private lender for your spec home, research local lenders near you. Bring to them your documents showcasing your financial history, property information, and detailed plans so that you can start your dream project!

Setabay Private Hard Money Lender

Saturday, June 1, 2019

Who are Commercial Hard Money Lenders?

Borrowers seeking out loans will have the opportunity to work with either public or private lenders? But what’s the difference? And how can you make the most of those differences in your personal situation?

What You Need to Know About Private Lenders

How to Know What’s Right for You

Who are Commercial Hard Money Lenders?

Borrowers seeking out loans will have the opportunity to work with either public or private lenders? But what’s the difference? And how can you make the most of those differences in your personal situation?

What You Need to Know About Private Lenders

How to Know What’s Right for You

Friday, May 31, 2019

When to Turn to Commercial Hard Money Lenders

When borrowers seek out loans, they may consider both traditional and untraditional methods of borrowing. But what kind of borrowing works best? And when is one option better than the other?

Are Commercial Arizona Hard Money Lenders Right for You?

How to Make a Profit with Arizona Spec Home Financing

It’s possible to obtain funding for projects from both public and private lenders—but what’s the difference between them? How do you know what the best option is for you?

What You Need to Know About Arizona Hard Money Lenders

Becoming a Successful Borrower

How to Make a Profit with Arizona Spec Home Financing

It’s possible to obtain funding for projects from both public and private lenders—but what’s the difference between them? How do you know what the best option is for you?

What You Need to Know About Arizona Hard Money Lenders

Becoming a Successful Borrower

Taking Advantage of Arizona Spec Home Financing

Traditional and untraditional money lenders are regulated in different ways. These differences allow for borrowers to have different options when seeking out loans. So, how can you take advantage of these differences?

The Basics of Arizona spec home financing

Tips and Tricks

About Me

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