Monthly Archives: November 2016

How To Get Rejected By Hard Money Lenders In California

Uncategorized, , , , ,

Angel OakWhen it comes to seeking out hard money lenders in California or anywhere else, most of us are too concerned with what we think we need to do to get approved to make sure we don’t do things that will get us rejected.

It’s natural for people to want to focus on what they need to do to make forward progress. It’s what we are all after, and depending on the number of distractions in life, we may need to have laser focus to reach or goals.

However, in the process of locking in that laser focus on the end goal, it is not unusual for people to miss some of the details that hinder progress towards that goal. Do so when you turn in your loan application to hard money lenders in California or anywhere else and your application will end up being denied.

Three Things That Will Get Your Hard Money Loan Denied

As important as it is to focus on the things you need to do right to get approved, you must keep in mind those things that can get you rejected by hard money lenders in California:

• Insufficient down payment or equity: Hard money lenders can get away with charging the high-interest rates that they do because of the increased risk involved. To mitigate that risk, lenders will often require a sizable down payment or that you have sufficient equity in the property; 25 percent is a typical amount. Lenders tend to feel better when they feel you have “skin” in the game too.

• Insufficient income: Hard money lenders want to know you have some “skin” in the game before approving your loan, but they also want to feel confident you will be able to repay the loan. Just saying you’ll pay when the product you are selling explodes and every has to have a piece doesn’t count. The best way to soothe these concerns is to have sufficient income coming in already or with cash reserves.

• No exit strategy: Hard money loans are often shorter; no more than a year to five years typically. But that does not mean your payments are going to be crazy high. It just means you are going to have a balloon payment at the end—which is where many people tend to run into trouble. So when that time comes, it helps to have a strategy for handling that payment. Acceptable exit strategies include selling the property, selling a different property, refinancing with another hard money loan (or a conventional one or a subprime one).

Hard Money Lenders in California Don’t Want To Reject You

Hard money lenders don’t want to deny you. They want to loan you the money you need. It’s why they exist. But if they aren’t careful and approve too many of the wrong types of people, lenders may soon find they have no money to lend.

So do your homework—all of it. Find out why hard money lenders in California will reject you as well as what it takes to get approved. This way you can prepare for everything and ensure you will get what you need.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
http://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 TubeFace 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.

How To Get Rejected By Hard Money Lenders In Arizona

Arizona hard money, Arizona hard money lender, Arizona hard money loan, Arizona private hard money, Arizona private hard money lender, Arizona private money

Angel OakWith regards to looking for out hard money lenders in Arizona or anyplace else, most of us are too involved with what we expect we have to do to get authorized to ensure we don’t do issues that can get us rejected.

It’s pure for folks to need to concentrate on what they should do to make ahead progress. It’s what we’re all after, and relying on the variety of distractions in life, we could must have laser focus to achieve or objectives.

Nevertheless, within the means of locking in that laser concentrate on the tip purpose, it’s not uncommon for folks to overlook a few of the particulars that hinder progress in direction of that purpose. Achieve this whenever you flip in your loan software to hard money lenders in Arizona or anyplace else and your software will find yourself being denied.

Three Issues That Will Get Your Hard Money Mortgage Denied

As essential as it’s to concentrate on the issues you might want to do proper to get authorized, you have to consider these issues that may get you rejected by hard money lenders in Arizona:

• Inadequate down fee or fairness: Hard money lenders can get away with charging the high-interest charges that they do due to the elevated danger concerned. To mitigate that danger, lenders will usually require a large down fee or that you’ve got adequate fairness within the property; 25 p.c is a typical quantity. Lenders are likely to really feel higher after they really feel you could have “pores and skin” within the sport too.

• Inadequate revenue: Hard money lenders need to know you could have some “pores and skin” within the sport earlier than approving your loan, however additionally they need to really feel assured it is possible for you to to repay the loan. Simply saying you’ll pay when the product you’re promoting explodes and each has to have a bit doesn’t depend. The easiest way to appease these issues is to have adequate revenue coming in already or with money reserves.

• No exit technique: Hard money loans are sometimes shorter; not more than a 12 months to 5 years sometimes. However that doesn’t imply your funds are going to be loopy excessive. It simply means you’ll have a balloon fee on the finish—which is the place many individuals are likely to run into bother. So when that point comes, it helps to have a method for dealing with that fee. Acceptable exit methods embrace promoting the property, promoting a unique property, refinancing with one other hard money loan (or a traditional one or a subprime one).

Hard Money Lenders in Arizona Don’t Need To Reject You

Hard money lenders don’t need to deny you. They need to loan you the money you want. It’s why they exist. But when they aren’t cautious and approve too most of the mistaken forms of folks, lenders could quickly discover they don’t have any money to lend.

So do your homework—all of it. Discover out why hard money lenders in Arizona will reject you in addition to what it takes to get authorized. This manner you’ll be able to put together for every part and guarantee you’ll get what you want.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Dealer/RI/CEO/MLO
Degree four Funding LLC
Arizona Tel:  (623) 582-4444
Arizona Tel:     (512) 516-1177
Dennis@level4funding.com
http://www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Arizona | 78701

You TubeFace Book Active Rain Linked In

Concerning the creator: Dennis has been working in the actual property trade in some capability for the final 40 years. He bought his first property when he was simply 18 years previous. He shortly discovered concerning the wonderful funding alternatives supplied by trust deed investing and hard money loans. His need to assist others make money in actual property investing led him to focus on various funding for actual property buyers who could have bother getting a conventional financial institution loan. Dennis is enthusiastic about various funding sources and sharing his data with others to assist make their goals come true.

Dennis has been married to his great spouse for 42 years. They’ve 2 lovely daughters 5 wonderful grandchildren. Dennis has been an Arizona resident for the previous 40 years.

If Your Hard Money Lenders in California Are Compared to Ezuabo—That’s Not A Good Thing!

Uncategorized, , , , , ,

iStock_000001468073XSmallHard money lenders California—For every success story and for every honest lender there is a story about a dishonest one. The story of Ezuabo is one of the dirty ones.

When people talk about—well, just about anything, they will compare it to something else. It’s like by comparing one thing to another thing, which people are more familiar with, we can understand how beautiful or terrible something is.

For example, how many times have you heard a tired person talk about drinking a good cup of coffee and how the “fog suddenly lifted?” Have you ever heard something that just walked into the room, joined a conversation, or been hired on described as a “breath of fresh air?” Or how about the teacher that’s as mean as the Wicked Witch of the West?

Get the idea? So—with that in mind—if any of the hard money lenders in California you are considering going with have been described as “similar to Ezubao”—run away. Run far away.

The Story Of Ezubao

At first, the story of this hard money lender in China was your typical rags to riches kind of story. It’s founder, Ding Ning, was a 34-year old high school dropout. He opened the company in numerous cities and took out some expensive ads to promote the venture. It wasn’t your typical lending company, though. No, it focused on working with individuals with poor credit histories that could not get approved for a traditional loan.

With over 1.3 billion people living in China, it is safe to say that there were thousands if not millions of people seeking out loans in China that fit perfectly into the segment of the population Ezubao wanted to target–or at least that was what Ning wanted his investors to believe.

Ning could justify the insane number of borrowers he claimed the company had because his interest rates were not higher than the banks like the typically are for hard money lenders in California, China, or anywhere else. They were lower than the banks.

So it was easy to imagine people flocking to Ezubao. If you could get your money faster and for less, why wouldn’t you go to them? Except people were not. Approximately 95 percent of the borrowers Ning claimed the company had were fake. In the process, over 900,000 investors lost $7.6 billion.

Could There Be A Hard Money Lender In California Like Ezubao?

Investors and lenders alike always have to be on the lookout for potential scams. These days they have become more and more elaborate and can be hard to pinpoint. But that is why there are as many regulations as there are for hard money lenders in California and across the country.

Could a scammer get his or her hands on the appropriate licenses to appear legitimate? That is always going to be a possibility, but if ever in doubt, refuse to take their word for it. Call the appropriate local or state agency that issued their license. If you still aren’t sure—go with someone else.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://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 TubeFace 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.

If Your Hard Money Lenders in Arizona Are Compared to Ezuabo—That’s Not A Good Thing!

Arizona hard money, Arizona hard money lender, Arizona hard money loan, Arizona private hard money, Arizona private hard money lender, Arizona private money

iStock_000001468073XSmallHard money lenders Arizona—For each success story and for each sincere lender there’s a story a couple of dishonest one. The story of Ezuabo is without doubt one of the soiled ones.

When individuals discuss—effectively, absolutely anything, they are going to examine it to one thing else. It’s like by evaluating one factor to one other factor, which individuals are extra accustomed to, we are able to perceive how stunning or horrible one thing is.

For instance, what number of occasions have you ever heard a drained individual discuss ingesting cup of espresso and the way the “fog abruptly lifted?” Have you ever ever heard one thing that simply walked into the room, joined a dialog, or been employed on described as a “breath of recent air?” Or how concerning the trainer that’s as imply because the Depraved Witch of the West?

Get the concept? So—with that in thoughts—if any of the hard money lenders in Arizona you might be contemplating going with have been described as “comparable to Ezubao”—run away. Run distant.

The Story Of Ezubao

At first, the story of this hard money lender in China was your typical rags to riches type of story. It’s founder, Ding Ning, was a 34-year outdated highschool dropout. He opened the corporate in quite a few cities and took out some costly adverts to promote the enterprise. It wasn’t your typical lending firm, although. No, it centered on working with people with poor credit score histories that would not get authorised for a standard loan.

With over 1.three billion individuals dwelling in China, it’s secure to say that there have been 1000’s if not tens of millions of individuals looking for out loans in China that match completely into the section of the inhabitants Ezubao wished to target–or not less than that was what Ning wished his buyers to consider.

Ning may justify the insane variety of debtors he claimed the corporate had as a result of his rates of interest weren’t greater than the banks just like the sometimes are for hard money lenders in Arizona, China, or wherever else. They had been decrease than the banks.

So it was straightforward to think about individuals flocking to Ezubao. If you may get your money sooner and for much less, why wouldn’t you go to them? Besides individuals weren’t. Roughly 95 % of the debtors Ning claimed the corporate had had been faux. Within the course of, over 900,000 buyers misplaced $7.6 billion.

May There Be A Hard Money Lender In Arizona Like Ezubao?

Buyers and lenders alike all the time have to be looking out for potential scams. Today they’ve turn out to be increasingly more elaborate and will be hard to pinpoint. However that’s the reason there are as many laws as there are for hard money lenders in Arizona and throughout the nation.

May a scammer get his or her arms on the suitable licenses to seem authentic? That’s all the time going to be a risk, but when ever in doubt, refuse to take their phrase for it. Name the suitable native or state company that issued their license. If you continue to aren’t certain—go together with another person.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Dealer/RI/CEO/MLO
Stage four Funding LLC
Arizona Tel:  (623) 582-4444
Arizona Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Arizona | 78701

You TubeFace Book Active Rain Linked In

Concerning the creator: Dennis has been working in the true property business in some capability for the final 40 years. He bought his first property when he was simply 18 years outdated. He shortly discovered concerning the superb funding alternatives supplied by trust deed investing and hard money loans. His want to assist others make money in actual property investing led him to specialize in various funding for actual property buyers who could have bother getting a standard financial institution loan. Dennis is keen about various funding sources and sharing his information with others to assist make their goals come true.

Dennis has been married to his fantastic spouse for 42 years. They’ve 2 stunning daughters 5 superb grandchildren. Dennis has been an Arizona resident for the previous 40 years.

If Your Hard Money Lenders in California Are Compared to Ezuabo—That’s Not A Good Thing!

california hard money, california hard money lender, california hard money loan, california private hard money, california private hard money lender, california private money

iStock_000001468073XSmallHard money lenders California—For each success story and for each trustworthy lender there’s a story a few dishonest one. The story of Ezuabo is among the soiled ones.

When folks discuss—effectively, absolutely anything, they may examine it to one thing else. It’s like by evaluating one factor to one other factor, which persons are extra conversant in, we are able to perceive how lovely or horrible one thing is.

For instance, what number of instances have you ever heard a drained individual discuss consuming cup of espresso and the way the “fog abruptly lifted?” Have you ever ever heard one thing that simply walked into the room, joined a dialog, or been employed on described as a “breath of recent air?” Or how concerning the instructor that’s as imply because the Depraved Witch of the West?

Get the concept? So—with that in thoughts—if any of the hard money lenders in California you’re contemplating going with have been described as “related to Ezubao”—run away. Run distant.

The Story Of Ezubao

At first, the story of this hard money lender in China was your typical rags to riches sort of story. It’s founder, Ding Ning, was a 34-year outdated highschool dropout. He opened the corporate in quite a few cities and took out some costly adverts to promote the enterprise. It wasn’t your typical lending firm, although. No, it targeted on working with people with poor credit score histories that would not get authorised for a standard loan.

With over 1.three billion folks dwelling in China, it’s secure to say that there have been hundreds if not tens of millions of individuals looking for out loans in China that match completely into the phase of the inhabitants Ezubao needed to target–or at the very least that was what Ning needed his traders to imagine.

Ning might justify the insane variety of debtors he claimed the corporate had as a result of his rates of interest weren’t greater than the banks just like the usually are for hard money lenders in California, China, or anyplace else. They had been decrease than the banks.

So it was straightforward to think about folks flocking to Ezubao. If you possibly can get your money sooner and for much less, why wouldn’t you go to them? Besides folks weren’t. Roughly 95 p.c of the debtors Ning claimed the corporate had had been pretend. Within the course of, over 900,000 traders misplaced $7.6 billion.

May There Be A Hard Money Lender In California Like Ezubao?

Buyers and lenders alike at all times have to be looking out for potential scams. As of late they’ve grow to be increasingly more elaborate and could be hard to pinpoint. However that’s the reason there are as many rules as there are for hard money lenders in California and throughout the nation.

May a scammer get his or her palms on the suitable licenses to seem reputable? That’s at all times going to be a risk, but when ever in doubt, refuse to take their phrase for it. Name the suitable native or state company that issued their license. If you continue to aren’t positive—go along with another person.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Dealer/RI/CEO/MLO
Stage four Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://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 TubeFace Book Active Rain Linked In

Concerning the writer: Dennis has been working in the actual property trade in some capability for the final 40 years. He bought his first property when he was simply 18 years outdated. He shortly realized concerning the wonderful funding alternatives offered by trust deed investing and hard money loans. His want to assist others make money in actual property investing led him to specialize in various funding for actual property traders who could have hassle getting a standard financial institution loan. Dennis is obsessed with various funding sources and sharing his information with others to assist make their goals come true.

Dennis has been married to his great spouse for 42 years. They’ve 2 lovely daughters 5 wonderful grandchildren. Dennis has been an Arizona resident for the previous 40 years.

Why Are So Many Hard Money Lenders Based In California?

Uncategorized, , , , ,

iStock_000003355200SmallWhenever there seems to be a lot of something or little of something in a given location, there is typically a reason. For example, there are a lot of hard money lenders in California, and there is a reason for this.

There is usually a method to the madness—whatever the madness happens to be. If there seems to be a lot of boys named “Peyton” in the area, if that area is Indianapolis ask a football fan why that is. Are lots of kids on your basketball team named Michael or Jordan? Well—the reason for that isn’t too hard to figure out either (especially for a Chicago Bulls fan).

The same concept applies to things other than baby names. For instance, you will likely find more snowmobile dealers in Maine than you would in Texas. You will probably find more people owning jet skis in San Diego than you would in Alaska.

But why does there seem to be so many hard money lenders in California?

Method To The Madness

More often than not, there is a reason for everything, and there is a reason there are a lot of hard money lenders calling California home.

Even though the area has been settled for well over a century, people still think about ‘going west’ to live the American Dream. With the state being so big and populous, that means there are lots of people looking to live the dream, and in this day and age, many of them have crappy credit.

So they need hard money lenders in California to service those people.

Over the years, the state has developed a heck of a tradition for private borrowing and investing. It’s going to happen in any place as big and populous as California is.

Non-Judicial Foreclosure State vs. Judicial Foreclosure State

One of the big reasons there are so many hard money lenders in California is the fact that California is a non-judicial foreclosure state. What this means is that if a property needs to be foreclosed on it is easier for a lender to gain control of a property and be repaid. That is, as long as the property is not owner-occupied.

In states where there is a judicial foreclosure process, it can be a lot tougher for a lender to gain control of assets since the process can be very long and complicated. Anytime action can be taken without having to go to court it is not going to take as long.

That also means that if you are a borrower in California, you better keep up on your payment or know when your lender begins the foreclosure process. Since it goes a lot faster, if you want to have a chance to stop it, it helps to know when the process has started.

In some non-judicial foreclosure states, the borrower is still able to pay what he or she owes after the property is sold at auction and retain the property.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
http://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 TubeFace 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.

Why Are So Many Hard Money Lenders Based In Arizona?

Arizona hard money, Arizona hard money lender, Arizona hard money loan, Arizona private hard money, Arizona private hard money lender, Arizona private money

iStock_000003355200SmallAt any time when there appears to be numerous one thing or little of one thing in a given location, there may be sometimes a cause. For instance, there are numerous hard money lenders in Arizona, and there’s a cause for this.

There’s often a technique to the insanity—regardless of the insanity occurs to be. If there appears to be numerous boys named “Peyton” within the space, if that space is Indianapolis ask a soccer fan why that’s. Are plenty of children in your basketball group named Michael or Jordan? Effectively—the explanation for that isn’t too hard to determine both (particularly for a Chicago Bulls fan).

The identical idea applies to issues aside from child names. For example, you’ll seemingly discover extra snowmobile sellers in Maine than you’d in Arizona. You’ll most likely discover extra individuals proudly owning jet skis in San Diego than you’d in Alaska.

However why does there appear to be so many hard money lenders in Arizona?

Technique To The Insanity

Most of the time, there’s a cause for every little thing, and there’s a cause there are numerous hard money lenders calling Arizona house.

Despite the fact that the world has been settled for effectively over a century, individuals nonetheless take into consideration ‘going west’ to reside the American Dream. With the state being so large and populous, which means there are many individuals trying to reside the dream, and at the present time, a lot of them have crappy credit score.

So they want hard money lenders in Arizona to service these individuals.

Over time, the state has developed a heck of a convention for private borrowing and investing. It’s going to occur in anywhere as large and populous as Arizona is.

Non-Judicial Foreclosures State vs. Judicial Foreclosures State

One of many large causes there are such a lot of hard money lenders in Arizona is the truth that Arizona is a non-judicial foreclosures state. What this implies is that if a property must be foreclosed on it’s simpler for a lender to achieve management of a property and be repaid. That’s, so long as the property just isn’t owner-occupied.

In states the place there’s a judicial foreclosures course of, it may be so much harder for a lender to achieve management of belongings for the reason that course of will be very lengthy and sophisticated. Anytime motion will be taken with out having to go to courtroom it isn’t going to take as lengthy.

That additionally implies that if you’re a borrower in Arizona, you higher sustain in your fee or know when your lender begins the foreclosures course of. Because it goes so much sooner, if you wish to have an opportunity to cease it, it helps to know when the method has began.

In some non-judicial foreclosures states, the borrower remains to be capable of pay what she or he owes after the property is bought at public sale and retain the property.

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Dealer/RI/CEO/MLO
Stage four Funding LLC
Arizona Tel:  (623) 582-4444
Arizona Tel:      (512) 516-1177
Dennis@level4funding.com
http://www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Arizona | 78701

You TubeFace Book Active Rain Linked In

Concerning the writer: Dennis has been working in the actual property business in some capability for the final 40 years. He bought his first property when he was simply 18 years outdated. He rapidly discovered concerning the wonderful funding alternatives supplied by trust deed investing and hard money loans. His want to assist others make money in actual property investing led him to focus on various funding for actual property buyers who might have hassle getting a standard financial institution loan. Dennis is enthusiastic about various funding sources and sharing his information with others to assist make their goals come true.

Dennis has been married to his fantastic spouse for 42 years. They’ve 2 stunning daughters 5 wonderful grandchildren. Dennis has been an Arizona resident for the previous 40 years.