Private money lenders, more often referred to as Arizona Hard Money Lenders, are private financial lenders. Unlike conventional lending institutions, who focus, on you credit score, they put their focus on the property you want to finance and asses the risk of the deal.
While your credit may not be a noteworthy component your past performances are significant. Arizona Hard Money Lenders want to feel certain that the investment they are undertaking will be paid back in full. It is valuable for a real estate investor to find a lender they can work with well because, as lenders get to know a borrower they are more apt to continue business with them. Typically, because Arizona Hard Money Lenders have flexibility, the more an investor works primarily with one the better rates that borrower will obtain in the future.
THE MISSION OF FINDING THE BEST ARIZONA HARD MONEY LENDER FOR YOU
The easiest way to begin your search for a Arizona Hard Money Lender is online. If you aren’t already familiar with the fix and flip industry, you can search for a local lender online. It can’t be stressed enough how crucial it is for you to research—especially when you are first beginning with fix and flips. Make sure, while you are searching online, that the lender has a professional online presence. They should advertise their rates, have testimonials and have contact information—including a local phone number.
An excellent way to meet local lenders is attending real estate networking events. Because in this profession you will always need to count on others to complete successful endeavors. There is no “I” in real estate. You will generally find more success with local lenders because they understand the geographic market and which properties have opportunities for the best returns. You also want to make sure that your lender specializes in the type of projects you are interested in— for example, fix and flip or construction.
Word of mouth can be a great way to find a lender. Chances are you have become interested in this industry because of someone you know that has experienced success with it. Ask them about their prior financing and who they used. If you don’t know someone in this business you probably know a broker or an agent or even a neighbor that knows someone who knows someone. Word of mouth gives a bit of comfort because it is a real person that you, or someone whom you know, has done business with—giving you the chance to receive feedback on the lender. Just keep your eyes and ears open and ask around—social media is a great way to get a referral, as well.
Arizona Hard Money Lenders each have their own set of rules. Even though they are flexible, they will offer different loan terms.
If you are interested in learning about funding, for your real estate investment, call Level 4 Funding to learn about the options of hard money lending.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.