If you’re like most people looking for finance options, no doubt you’ve heard horror stories about lenders who totally dropped the ball and derailed a project. You may have even experienced it yourself. While personal referrals and online reviews can make it easier to find a reputable hard money lender, it doesn’t necessarily mean you’ll have the same experience. Moreover, companies tend to specialize in a specific loan type or cover a geographic area, so many people are on their own even if they’ve been through the process before or know someone else who has been. However, there are a few things you can look for when you make contact with a company that indicate they’re a good company to work with.
For starters, they’ll recognize your time is valuable. One of the biggest benefits of working with this type of financing is that it enables you to have cash in hand fast. If they’re dragging their feet and not returning calls promptly now, there’s no telling if or when you’ll get your cash. However, if they return calls promptly and address your concerns, you’re on the right track. You should be able to count on having cash on hand in a matter of days or weeks, not months.
Secondly, your broker will be eager to listen to you and help you strategize. There are lots of different financing options, and your broker should be able to ensure you’re finding something that’s right for you based on your needs.
Lastly, they’ll have experience in the area you’re working in. Single-family homes, multi-family homes, commercial properties, and other project types each require a unique set of expertise. You’ll want to be sure you’re working with someone who understands what you’re planning to do in order to make the approval process smoother.
Will a Reputable Company Still Work with Me if I Have Rotten Credit?
One of the biggest things a hard money lender will look at is the value of the asset in question. Although there are other factors involved in making a final decision, they tend to matter to a much lesser degree. For this reason, bad credit and even bankruptcies are less of a concern when you go with this type of financing.
A good company is there for you when you need them.
When you’re in this type of industry, building positive relationships is everything. A good hard money lender knows this and will do their best to help you regardless of your circumstances. In times where they can’t, they’ll still treat you with the respect you deserve. If you’re looking for lending solutions but aren’t sure which company is best-suited, contact Level 4 Funding. With experience across a broad spectrum of private money loans, a myriad of positive customer testimonials, and a low-rate guarantee, it’s easy to apply with confidence.
Level 4 Funding LLC
Hard Money Lender
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.