Finding an California Hard Money lender can seem like a daunting task. In fact, you may be so deep in financial hardship, it’s taking all of your strength just to keep your head above water. When you don’t have anywhere to turn, California Hard Money lenders are there for you. After you find the right Hard Money lender for you, they can loan you the money you need in as little as 24 hours and set you on the path to financial freedom. There are a few ways to find the right California Hard Money lender and it is on you to make sure you find the right one for your needs.
First, you need to determine the kind of Hard Money you are seeking. Are you a commercial developer in need of Hard Money? Or are you an individual interested in a residential Hard Money loan? Deciding which category you belong to is the first step to consider before looking further.
Then, crunch the numbers and configure how much money you need. Remember that California Hard Money lenders will loan you up to 80% LTV (loan to value), but this amount could also be as low as 65%. Keep your number somewhere between that range and then start doing your research. You probably already have your purchase in mind, so do the math. How much can you afford? How much do you need to borrow? What can you do to minimize costs?
Researching an California Hard Money lender
What better way to start than with everyone’s favorite research tool? You don’t even have to get off the couch–start with the internet. Use a search engine such as Google or Bing and type in the words you are looking to find. For example, if you wanted to find a lender in your area, you may type “California Hard Money lenders.” Undoubtedly, several hundred (if not thousand) websites are going to pop up. This can also be daunting. Click on some of the sites and compare and contrast what you see. Make a few lists of the things that seem legitimate to you and also keep a list of lenders that seem a little sketchy. It isn’t too much to ask to have your Hard Money lender at least have a legitimate looking website if they are going to be dealing with your finances.
One of the most important things to remember is that if it seems too good to be true, IT IS! Don’t do anything you feel uncomfortable with, even if it seems like a good deal. Trust that gut feeling of yours, even if it means the lender you decide on has slightly higher interest rates. Don’t let your vulnerable situation lead you down a path that you feel to be wrong.
When you find a decent looking lender, look up some customer reviews. You can learn about a lender by simply reading what other people’s experiences have been like with them.
There are lots of ways to make California Hard Money work for you. The most common situation is a person seeking a loan to purchase a home who cannot get approved for a loan by a traditional lending agency like a bank. While most people think of California Hard Money loans as those high-interest, last-resort, type of money options, they can actually be used creatively and efficiently so that the lender and the borrower both end up profiting in the end. Believe it or not, it can be done!
Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
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.