Bill didn’t think his credit was good enough to get a commercial loan. Fortunately, he had a friend tell him about Arizona Commercial Hard Money Lenders.
Bill had always wanted to buy property and rent it out. He thought he could have a real knack for real estate, and he felt it would be the perfect way to invest in his future—as well as the futures of his children. Still, Bill had been dealing with a low credit score for years. Though he’d managed to get it up somewhat, he was starting to worry he’d never be able to get it to the level he needed in order to get a traditional loan to buy the kind of property he wanted.
Bill and Janet: Things to Consider
One night, he was telling his friend Janet about his idea and bemoaning the fact that it would never come to fruition. Janet smiled and told him, “You know, you should think about visiting a hard money lender. They’d be able to give you a loan even with without really excellent credit.”
“But how could that be true?” Bill asked. Janet explained it to him. Arizona Commercial Hard Money Lenders, she told him, based their lending decisions on the commercial asset rather than on the credit of the borrower. This meant they based the decision on the property itself. Janet also told him he could obtain the loan with his first mortgage.
Bill was aghast. Could he really get the property without having to deal with his lower-than-average credit score?
Bill and Mike: The Real Deal
Bill visited a local lender and talked to a man named Mike. Mike told him that Janet had been right and that it would be possible for him to get the loan he wanted. That week, Bill did lots of research on his own and talked to Mike on the phone every day. Once he had everything together, Mike drew up the paperwork, and Bill got his loan. Soon, he was the owner of a top-tier rental property that set up his future in a wonderful way.
Would You Like to Make Your Dreams Come True Like Bill Did?
You can discuss your dreams with Arizona Commercial Hard Money Lenders and find out if this is the best path for you today.
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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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.