Monthly Archives: June 2016

How to Get a Commercial Loan With Bad Credit

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commercial loan

You want to purchase office space or a nice tenement
in an upcoming area but you have a 320 credit score. This article will show you
how to get a commercial loan even if
you have a bad credit score.


Let’s face it debt and Americans go hand in hand. Most
of us are trying to come out from under some form of debt. In a 2015 study, the
U.S. Census Bureau concluded at least 38.1% of households in America have some
form of debt. In the last quarter of 2015, the dollar amount of credit card
debt in the U.S. was around $733 billion. In regards to mortgage debt, the
amount was a staggering $8.25 trillion.

Needless to say, a few of us have a little debt in our
name. But is that supposed to stop you from being able to by that nice home for
your New England bed and breakfast? No. Everyone should be able to be an
entrepreneur in this day and age. You can still get a commercial loan with bad credit there are just a few more things
that you have to go through before you get the loan that you need.

Before
you apply for a commercial loan plan
ahead

First and foremost, you want to make sure you have a
clear and concise business plan. You should be able to walk into your lender’s
office and be able to give them the pros of giving you a commercial loan for your business. You want to make sure you give your
lender a clear and in-depth plan of action. Show them the goals you want to
accomplish with this business. Provide them with the tactics you will use to
bring customers or tenants to the space you want to buy. Make sure you,
yourself, know what you want to do with your business.

You could also make contact with your creditors.
Trying to make payments on your debt can have a good impact on your credit
score. As well all know this will not happen overnight. But making an attempt
to rectify the situation looks really good in the eyes your lender. You may
have to pay higher rates or addition fees, but with your commercial loan, you are one step closer to your property.

Where
can I go to get a commercial loan if
I have all of that?

Do not fret even though you may have bad credit you
still have come options that you have at your disposal. There are some banks
that will work with you however your options are kind of slim. An option that a
lot of investors with bad credit look into is borrowing from hard money lenders.
Most of the time hard money lenders do not worry about your credit score as
long as you have a form of collateral. If for some reason you cannot pay your
loan back, then the collateral used will be auctioned off for profit. The only
drawback that you will most likely have is the higher interest rate that you
will have to pay.

Here at Level 4 Funding we specialize in commercial loans for bad credit investors. You may end up paying a bit more interest but in the end it will be worth it to have the loan that you need to grow your business. Hopefully, this gives you the confidence to go and get your commercial loan for your news business.


Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    


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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.

Is a Commercial Mortgage Broker a Good Idea?

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commercial mortgage broker
Many people feel as though hiring a commercial mortgage broker may not be
the right choice for them. Why hire someone else we you could do it yourself,
right? This article is going to give you some insight on this valuable asset.

The process of finding commercial real estate can be
very strenuous at times. When most people want to invest in a new property two
thoughts usually run through their mind. “Should I hire a commercial mortgage broker to help me,” or “could I forgo a broker
and do everything on my own?” You do tend to save a little bit more money when
you do not use a broker, but there are advantages to having someone in your
corner.

Having
a commercial mortgage broker on your
side helps

The biggest advantage a commercial mortgage broker has is experience. You do want to make
sure that you are shopping around for the right broker. Make sure that they
have a substantial amount of experience under their belt. This gives you the
confidence that you are getting the best for the money you are spending. Using
a broker gives you access to tons of connections and resources, as well.

Most reputable commercial
mortgage brokers have great relationships with various banks and mortgage
lenders. This takes a lot of pressure off investors looking for the right
lender. Most people are busy which is very understandable. It usually takes
several weeks to be approved for a loan it is a good idea to have someone that
can check in and give you feedback. Instead of having to find time to wade
through tons of features and rate plans, you have someone who will do it for
you.

As we all know if you do not have knowledge in
something you should ask an expert. That is what you are spending your money
on. Someone that can correctly calculate the interest rate for you. Someone
that is willing to sieve through all the intricacies of an agreement before you
decide to commit with a lender. Hiring a commercial mortgage broker could mean a lot fewer setbacks and headaches at the end of
the process.

 As stated
before, a commercial mortgage broker’s
main appeal is the fact that they are able to help you stop from making a bad
decision. Many people that may consider taking on the process themselves may
not take all the different fees into consideration. Anywhere from credit report
fees to title search fees can be added on top of your regular payments. By
having a commercial mortgage broker,
you could potentially have some of these fees waived.

Commercial
mortgage brokers really don’t do all of that, do they?

Believe it or not, they do. There are hundreds of
different thing that could possibly go wrong when going through this process. Commercial mortgage brokers are there
to help you with everything that you may have an issue with. Whether it is
trying to find the right lender that fits your needs or acting as the liaison
between all of the people that you talk to. 

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    


You Tube
Face Book 

Active Rain 

Linked In

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.

Is Having Commercial Real Estate A Viable Option?

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commercial real estate
We live in a digital era where a couple of keystrokes
are much quicker than going to a store. Will your business profit from having
commercial real estate?

For the last couple of years, the market has seen a
boom of entrepreneurs and various startup companies. According to data from the
Kauffman Index, there has been a steady rise of startups since 2011. With
constant upgrades and new digital merchant software on the internet already, is
it a good idea to have commercial real estate for your business?

In a perfect world, we would all have our own
businesses. Stores on the main street in a bustling downtown area. As great as
this may sound not all entrepreneurs need to have commercial real estate. Of course, there are certain businesses
that you need to go to bakeries, restaurants, etc. But most of the new
companies that are here now are best represented on a digital platform.

In fact, most companies that are in the market would
greatly benefit without having commercial
real estate. That means no monthly bills or rent. Having commercial real estate can also mean
less money in your pocket. For some business owners taking out a loan on the
property, they want to use. Depending on the type of the loan you may have to
commit for the three to five years on a property that may or may not give you a
return on your money.

Are
there any advantages to having commercial real estate?

Short answer: of course there are. First and foremost,
the feeling you get from owning a place that your business calls home is
un-measurable. Having a physical place to call your shop or store gives you the
confidence to go out and search for more customers. You build different
connections that could not be made online. You also get that face to face
interaction with your clientele; in turn, this helps your business thrive.
Personal relationships are good for business. The relationships you build are
for tomorrow, not for today.

Depending on your property you could potentially get a
great appreciation of your assets. Things such as making the proper managerial
decisions can help the value of your property increase exponentially.  Doing things like making renovations help
your business grow in value over time. Whether it is replacing the sign or an
awning, or you knock out a wall in your space to make it larger, every bit
counts.

Maybe you want to rent out the space instead of using
it for your own business. This means you have full control over the tenants you
want using it. You also have the power to create rules based on what type of
image you want to represent. Having investor control can also help with annual
fees. For example, if you manage your commercial real estate you can charge a management fee that your tenant would have to
pay for.

Having
great commercial real estate also
means great publicity

Publicity is also one of the biggest reasons you might
consider have some commercial realestate. We are constantly bombarded with new ideas and businesses that try
their best to catch the eye of potential clients. There is no telling how many
different advertisements you see online a day for a new business. Having a
storefront or even a small hole in the wall makes you tangible. Customers can
go in and see the jewelry that you make. They can check to see if it fits them
correctly. Customers can go into your boutique and feel the type of fabric that
you have; they can be correctly measured for one of your designs they
like. 

Alas, you have to judge based on your needs. Would you
fair better on a digital platform, or can you benefit from having commercial real estate?

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    


You Tube
Face Book 

Active Rain 

Linked In

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.

The Real Deal When It Comes To Hard Money Loans

Uncategorized, , ,

hard money loans

there are many different ways to get a loan for your
new business. This article is going to give you the pros and cons of applying
for hard money loans.


Hard money loans are a great option when you are thinking
about borrowing money for your business or new property. Like most things it
has its drawbacks. Hard money loans
are great if you are denied a loan from a bank. While most loans usually take a
long time to get approved, hard money loans are turned around quickly.

Hard money loans are classified as loans that are given by
a private company. Traditional loans from banks take longer because they are
interested in how you can repay the loan back. For example, if your credit
score is not great it may take some convincing to receive your loan. The same
goes for your job; if you are a freelancer, for example, a bank may not view
your profession as reliable. 
When it comes to hard money loans, however, they really are not worried about that. Lenders are
more interested in what you already have. Collateral is taken into
consideration when you are applying for a loan from a private company. If you
cannot pay your loan off, then your collateral is taken and sold off to cover your
debt. The value of your collateral is taken into consideration more than your
credit score or job.

Many people favor a hard money loan because of its short duration. Usually, these loans
last one to five years. For those of you who are in the fix and flip business,
this type of loan would be very beneficial to you. Say you find a property fix
it up and then rent it out to a few tenants. After a short period of time, the
money you receive from the property can be used to repay your loan.

Here
is the crux of hard money loans


hard money loan
So far hard money loans have been the best option for someone to get the money they
need quickly. Usually, lenders do not care too much about your credit status or
how money you have. Getting approved all around much easier than going the
traditional route. So what are the cons of a hard money loan? Well, the biggest one is the cost of the loan
itself. As stated these loans are slated for a short amount of time. This means
the interest rate that you have to pay is high than one from a bank. Usually,
the APR is over 10%.

Also, your credit may be something you have to worry
about. You may be thinking, “but you just said it may not matter.” In most
cases it won’t, however, some lenders may pull your credit report to see if you
have red flags. Most of the time this does not happen but you want to make sure
you do your research with all the companies you are considering.


Bottom Line Are Hard
Money Loans Worth It?


In short depending on your property and what you want
to do with it, yes. If you see a great property that is in a great location
that you believe can turn a great profit fast, this is something you want to
do. Most properties that are in great locations are bought quickly if you do
not have the liquid assets this is a great option for you. Always make sure to
weigh the pros and cons of any loan that you are thinking of applying for.

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    


You Tube
Face Book 

Active Rain 

Linked In

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.