Category Archives: Hard Money Mortgage

Benefits of Using Hard Money Lenders

Still in search for funding for your Real Estate Investment Project? There is a tremendous amount of capital available in today’s market and hard money lenders are funding their share.

From hard money lenders, bank credit cards, lines of credit, private lenders, retirement funds and traditional bank loans, real estate investors are finding the capital they need for their next big project. Hard money loans have not always had fair press, though these types of loans have been a dependable way to fund deals for decades.

The funds come from a group of individuals or a single individual who lends on their own terms. They base their decision on the collateral of the deal. With traditional lending, if your credit score falls below a certain amount then it will be impossible for you to get funded, regardless of the circumstances. Because hard money lenders set their own criteria, they can often fund projects that have been denied by traditional banks. The higher risk is associated with somewhat higher interest rates. They also work quickly to get projects funded, usually within seven days or quicker. A few of the benefits of using Hard Money Lenders are:

1) Speed–Regardless of what your offer is the speed in which you can close is more important. Conventional loans can take up to 45 days to close and many conventional lenders have been burned on deals that never closed due to the lengthy closing time. When you place your offer, a seller may take a little less knowing that the property can close in 5 to 7 days.

2) Volume – Over the course of a year, closing time within a few weeks means a few more rehab projects which will generate greater returns to the bottom line.

3) Quality–With Hard Money in your corner, you can be assured that what needs to be done will be done correctly and you do not have to cut corners to save money. You will earn a better reputation for quality work and more projects.

Bigger Projects

Knowing that you have a hard money lender behind you can help you build up to bigger projects over time. You start with a single family unit and build up to multi-family and commercial properties. Looking at various projects you may or may not want to use a hard money lender. There might be some projects that a four percent interest rate will benefit you while some rehab projects demand the speed that hard money offers. The goal, eventually, is to build enough capital that you are able to fund projects yourself without any outside funding.

With hard money lenders behind you, you have the option to look at all projects that come your way.

The fees and interest rates for hard money loans can be higher, but the speed in which you can get a project funded may be worth the extra expense. In a short-term deal, this is a small price to pay to finish a rehab and flip the property. It is worth the relationship with a hard money lender as well as other financing options for choice on a project-by-project basis.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
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The Top Seven Questions to Ask Your Hard Money Lender

Hard money lenders are popular lending options when it comes to real estate investments, residential loans, and even capital needs for small businesses. Not all lenders are equal which means it’s important to come to the table with questions that can help you determine if this is the right lender for you.

Hard money lenders are, as the name implies, lenders that base loans on property, collateral or assets. In many instances, they are private lenders who can vary in their lending requirements and processes. Because of this, you will want to take the time to get to know them and what areas of lending they may specialize in. Here, then, are the top seven questions you should ask during your initial interview process. Choosing well is important not only to your current project, but to your future projects that are sure to follow.

What type of lending experience do you possess and what type of businesses or real estate segments do you specialize in? Some hard money lenders specialize in particular types of small businesses while others invest in various real estate properties. Of course, if you have stellar numbers that show increasing profitability and a well-thought out exit strategy, you may have multiple interested lenders. For your sake, obtaining a loan from someone familiar with your project type is highly recommended. Your success is, after all, their success. Leveraging your lender’s experience can help you succeed and give you the additional benefit of professional advice when needed. This leads us to the next question: Are you open to providing information and consultations if I have questions as the project proceeds?

You will also want to find out if they are direct hard money lenders or brokers that will obtain a hard money lender for you. Brokers that work with multiple lenders can often find the best deal for your specific needs which includes the fastest time to funding as well as the best rates. Just what is their interest rate, and do they charge points or processing fees? While these determine the cost of the loan, it should not be the only consideration. Time to funding as well as their experience level can be even more important points to keep in mind when choosing a lender.

Is there a prepayment penalty?

This is one of the most important questions to ask. Why? Because loans that are quick to fund and high risk can carry higher than average interest rates. If you are involved in a quick fix and flip property, you will want to get out as soon as the rehab is complete and a seller is found. And you’ll want to keep those extra profits that accompany a job well done instead of passing it on to your lender.

Make sure your lender does not charge a prepayment penalty.

At Level 4 Funding, we are brokers that specialize in finding the right lender for your particular project.

We do not charge prepayment penalties and offer fast and easy approval processes that can fund within days instead of weeks. Call us for a no-obligation quote.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
clip_image002clip_image004clip_image006clip_image008

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.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Hard Money Lenders—California Lender Basics

mark gowlovechThere is all this talk of private money and hard money lenders, California based lenders—the list goes on. However, if you are like most people you are probably a little unsure about the basics, which is perfectly okay because you came to the right the place.

If you are just starting your investment project or commercial venture, then most likely you are looking for a quick and affordable loan. But, before you become all gung ho and commit to the first lender you find, it helps to know the difference between private and hard money lenders. California lenders offer a wide range of private and hard money loan options, thus you need not look far for a reputable and accommodating lender. Instead, all you need to do is figure out which kind of financing is right for you.

Hard money, then, is typically the best option for resales and rehab investments. The reason being that hard money is at its cores is financing for asset-based endeavors. In other words, hard money is for commercial, industrial, residential (single-family and multi-family), and land. Private money, on the other hand, in essence, can be used for any purchase or investment project as a private money lender can be an individual or a company. Thus, you should ask yourself, what exactly you are trying to accomplish with this financing, especially when dealing with hard money lenders. California lenders that offer hard money financing are more than willing to lend a helping hand – pun intended. Therefore, it also helps to know what to look for in a hard money lender—if, in fact, you do decide to go with hard money financing.

With that being said, let us go over a few important things you should look for in a hard money lender. For instance, it almost goes without saying that, you should be looking at lenders that have a clear understanding of your particular business plan. This means doing a search for reputable lenders in your area and then doing some investigating to see if they offer niche programs that are applicable to you.

The Right Helping Hand Money Lenders California

Once you have narrowed your list of lenders, who understand your needs, the next step is to make sure your chosen few operate with a high level of transparency. This means that you, your lender and any other involved party should have access to your loan data, etc. Thus, if you come across a lender that is unwilling to be forthcoming with loan data or details—you should cross them off your list. Besides, a high level of transparency, it is also important to make sure your potential lender is licensed.

Things to Consider

Other things to consider include your hard money needs (project, budget, unforeseen expenses, etc.) and each lender’s loan-to-value ratio/guidelines. Remember, not every hard money lender has the same ratio or guidelines. Moreover, it is imperative that you know what terms you are signing up for. Ultimately, once you have tackled all of these things, you will pretty much be on your way to securing that financing.
 

Level-4-Funding-Dennis-Dahlberg-Mort[1]Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

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

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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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.


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Commercial Hard Money Lenders: What You Need To Ask

 

You’ve completed the unthinkable and narrowed down your potential choices for commercial hard money lenders. However, are you aware simply what to ask your future lender to verify they’re the proper lender for you?

This is probably not your first time on the lookout for commercial hard money lenders and it could not even be your first time utilizing these specific sorts of lenders. However, that doesn’t imply you possibly can’t hone your hard money expertise. In different phrases, you would very nicely be lacking out on nice commercial financing merely since you haven’t requested the proper questions and even requested the highest questions. With that being mentioned, let’s go over what to say to those commercial hard money lenders as soon as you get your foot within the door.

After all, you all the time what to determine what the method is for hard money loans and what your potential rate of interest can be in addition to what loan-to-value your potential lenders are on the lookout for. However, these three particular issues you actually need to know earlier than even assembly face-to-face along with your potentials. However, if this stuff aren’t in your record of questions they need to undoubtedly be within the high 5.

Different helpful issues to inquire about when coping with hard money lenders embody discovering out what the precise time period or timeframe for the loans, the prices for extra loan associated issues (title coverage, appraisal, insurance coverage and so forth), if a draw request is relevant i.e. are you able to obtain money pay for repairs, if placing any money down is require, how a lot of influence your credit score have and in case you have the choice to deferred curiosity after the time period of the loan. Finally, these specific questions permit you and your lender to be on the identical web page relating to your commercial loan.

Tips on how to Consider Your Hard Money Lender?

When you’ve gotten to the underside of all of the phrases and necessities of your loan, you will need to consider your precise lender. Sure, among the above-mentioned questions provides you with a very good sense of who you might be about to do enterprise with. However, you also needs to make it possible for your lender is the proper lender. This implies discovering out about your potential lender’s funds availability, getting good references from different debtors in addition to confirming that your lender is licensed, bonded and insured. These few steps will make it possible for your lender is just not solely the proper lender for you but additionally one of the best lender to your funding.

Commercial Hard Money Lenders who are there when you need them

Lastly, consistency issues i.e. you need a hard money lender that you could actually depend on. Consequently, your potential hard money lender, in no form or kind, needs to be afraid to reply your questions or be unclear on any of the small print relating to your loan. Keep in mind, on the finish of the day, you want a lender that can be there while you want them and never simply financially. So, take your time in reviewing their responses. Furthermore, take be aware your potential lender’s total openness and/or willingness that can assist you succeed along with your future funding.

 

 

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 www.level4funding.com
Dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

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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 rapidly 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 focus on different funding for actual property traders who might have bother getting a conventional financial institution loan. Dennis is obsessed with different funding sources and sharing his data 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.

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Understanding the Benefits of Hard Money Lending in Arizona

Understanding the advantages of hard money lending in Arizona
iStock_000004004971_Large.jpgWikipedia defines a hard money lender as “lending firms providing a specialised sort of real-estate backed loan.” Subsequently, hard money lenders present short-term loans (also called a bridge loan) that present funding based mostly on the worth of actual property that has been collateralized for the loan. Hard money lenders sometimes have a lot greater rates of interest than banks as a result of they fund offers that don’t conform to financial institution requirements, however in the future, these offers are inclined to repay way more.
Arizona has some of the highest foreclosures charges in the nation, because of it’s immense sprawl. So hard money lenders Arizona are extra essential now than ever. It’s not possible to disregard that banks and massive loan firms can’t present the similar advantages as private money lenders Arizona. Some of these advantages embody greater, however extra versatile loans and a option to put your self relaxed in this tough economic system.
Simply because hard money lenders will supply a spread of necessities on the loan-to-value proportion, sort of actual property and minimal loan measurement for a hard money loan doesn’t imply the on a regular basis Joe Schmoe can’t qualify. It’d be a minimum of helpful to look into the entire factor. Who is aware of, you’re more likely to discover a fair larger deal. Simply bear in mind, there are various differing types of hard money loans corresponding to repair and flip loans, development loans and bridge loans, Arizona land banking, Mezzanine financing, land acquisition and improvement, land loans joint ventures and plenty of extra. The variability is simply to verify your specific wants are met.

Dennis Dahlberg

Dealer/RI/CEO/MLO

Stage four Funding LLC
Arizona Tel:  (623) 582-4444 

Arizona Tel:     (512) 516-1177 

www.setabay.com


NMLS 1057378 | AZMB 0923961 | MLO 1057378

22601 N 19th Ave Suite 112

Phoenix AZ 85027


 
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Is Texas hard money good for first time investors?

hard money lender Texas
hard money lender Texas

As a first time investor, Texas hard money might sound actually complicated otherwise you is likely to be actually inquisitive about what it entails. Texas hard money will not be a standard Mortgage; it isn’t based mostly on a financial institution’s resolution however as a substitute based mostly on the true property property that you simply want to buy.

Sometimes with Texas hard money, you can even get far more money than you’d with a standard financial institution Mortgage. Typically Texas hard money may give you as much as a hundred percent of the worth of the property you’re borrowing towards. That’s far more than a daily Mortgage issued out by a financial institution.

Since Texas hard money comes from folks as a substitute of a typical lending establishment, you’ve got some extra leeway. Personal money lender Texas is a person who points you money. It may be from somebody and even somebody you simply met who needs to put money into your actual property endeavor. In the meantime, hard money lender Texas is a gaggle of people, not only one particular person, who invests in your actual property property.

Whereas the rate of interest is way larger than a standard Mortgage, that isn’t one thing you actually have to fret about with an Texas hard money Mortgage as a result of the turnaround goes by so shortly you received’t even have time to rack up curiosity.

It’s good to know this stuff earlier than you begin trying into an Texas hard money Mortgage or funding since you need to just be sure you’re getting what you wished out of the deal. An Texas hard money Mortgage is nice for somebody who desires to skip the hardship of the financial institution Mortgage paperwork and get proper into the enterprise of flipping property. Don’t be shy, first time investor or not, the time to look into Texas hard money is unquestionably right this moment.

Private Hard Money Lender in Texas
Large Daddy Dennis Hard Money Lender

Texas Hard Money
Degree four Funding LLC
111 Congress Ave Suite 400
Austin TX 78701
512-516-1177

Is Arizona hard money good for first time investors?

hard money lender arizona
hard money lender arizona

As a first time investor, Arizona hard money might sound actually complicated otherwise you is likely to be actually interested by what it entails. Arizona hard money just isn’t a conventional Mortgage; it’s not primarily based on a financial institution’s determination however as a substitute primarily based on the actual property property that you just want to buy.

Usually with Arizona hard money, you may also get way more money than you’ll with a conventional financial institution Mortgage. Generally Arizona hard money can provide you as much as 100% of the worth of the property you’re borrowing in opposition to. That’s way more than an everyday Mortgage issued out by a financial institution.

Since Arizona hard money comes from folks as a substitute of a typical lending establishment, you could have some extra leeway. Personal money lender Arizona is a person who points you money. It may be from somebody you recognize and even somebody you simply met who needs to put money into your actual property endeavor. In the meantime, hard money lender Arizona is a bunch of people, not only one particular person, who invests in your actual property property.

Whereas the rate of interest is way increased than a conventional Mortgage, that isn’t one thing you actually have to fret about with an Arizona hard money Mortgage as a result of the turnaround goes by so shortly you gained’t even have time to rack up curiosity.

It’s good to know these items earlier than you begin trying into an Arizona hard money Mortgage or funding since you need to just be sure you’re getting what you wished out of the deal. An Arizona hard money Mortgage is nice for somebody who desires to skip the hardship of the financial institution Mortgage paperwork and get proper into the enterprise of flipping property. Don’t be shy, first time investor or not, the time to look into Arizona hard money is certainly in the present day.

Private Hard Money Lender in Arizona
Large Daddy Dennis Hard Money Lender

Arizona Hard Money
Stage four Funding LLC
22601 N 19th Ave Suite 112
Phoenix AZ 85027
623-582-4444

Less than perfect Credit Has a Chance With Arizona Hard Money

hard money lender arizona
hard money lender arizona

In case you are troubled by your much less than perfect credit score and also you want some money on your property, then it may be greatest to begin interested by some non-traditional Mortgage lenders. In case you have heard of Arizona hard money Mortgages earlier than, however haven’t actually appeared into it, now could be positively the time.

Arizona hard money is not like conventional Mortgages in that these lenders is not going to ask you to disclose all of your credit score scores from the previous six years. As a substitute, Arizona hard money Mortgages are based mostly on the property that you’re coping with. There isn’t half as a lot problem or half as a lot paperwork. Every part is quick and straightforward. You may have your money a lot sooner than what you’d with a conventional financial institution Mortgage.

For those who really feel such as you may be confused between hard money lender Arizona and private money lender Arizona, don’t get flustered. Whereas these phrases are used very often interchangeably, there may be a slight distinction.

Hard money lender Arizona is a group of people that want to put money into your property with hard money Arizona. In the meantime, private money lender Arizona is one one that needs to put money into your property. You may know this particular person as they may be somebody you’ve invested with earlier than, however there’s a risk they may simply be a new investor serious about providing you with your Arizona hard money. 

Whichever route you select, you’ll be delighted that you simply went the Arizona hard money approach. That is the easiest way to get the money you want quicker than any sort of financial institution Mortgage and with out half of the paper work and even the effort. Say sure to Arizona hard money at this time. It might simply be the perfect factor you ever did for you, your checking account, and your property. Don’t hesitate to look into Arizona hard money proper this minute. 

Private Hard Money Lender in Arizona
Massive Daddy Dennis Hard Money Lender

Arizona Hard Money
Degree four Funding LLC
22601 N 19th Ave Suite 112
Phoenix AZ 85027
623-582-4444

Less than perfect Credit Has a Chance With Texas Hard Money

hard money lender Texas
hard money lender Texas

If you’re troubled by your much less than perfect credit score and also you want some money on your property, then it may be finest to start out excited about some non-traditional Mortgage lenders. You probably have heard of Texas hard money Mortgages earlier than, however haven’t actually appeared into it, now’s undoubtedly the time.

Texas hard money is in contrast to conventional Mortgages in that these lenders is not going to ask you to expose all of your credit score scores from the previous six years. As a substitute, Texas hard money Mortgages are primarily based on the property that you’re coping with. There isn’t half as a lot trouble or half as a lot paperwork. All the things is quick and straightforward. You may have your money a lot sooner than what you’ll with a conventional financial institution Mortgage.

In case you really feel such as you may be confused between hard money lender Texas and private money lender Texas, don’t get flustered. Whereas these phrases are used very often interchangeably, there may be a slight distinction.

Hard money lender Texas is a group of people that want to put money into your property with hard money Texas. In the meantime, private money lender Texas is one one that needs to put money into your property. You would possibly know this particular person as they may be somebody you’ve invested with earlier than, however there’s a chance they may simply be a new investor excited by providing you with your Texas hard money. 

Whichever route you select, you can be delighted that you simply went the Texas hard money method. That is one of the best ways to get the money you want sooner than any form of financial institution Mortgage and with out half of the paper work and even the effort. Say sure to Texas hard money at present. It may simply be one of the best factor you ever did for you, your checking account, and your property. Don’t hesitate to look into Texas hard money proper this minute. 

Private Hard Money Lender in Texas
Huge Daddy Dennis Hard Money Lender

Texas Hard Money
Degree four Funding LLC
111 Congress Ave Suite 400
Austin TX 78701
512-516-1177

What is a hard money Mortgage and do I need one?

hard money lender Texas
hard money lender Texas

Is your credit score a little lack-luster? Do you want you may return in time earlier than the dangerous financial system? All of us form of do. In case you have a property that you just want to flip or trying to launch from foreclosures, then now is the time to get a Mortgage. However what in the event you can’t undergo conventional channels? What if the banks completely received’t Mortgage to you? What in the event you went by means of the hours of paper work and nonetheless didn’t qualify? Then Texas hard money is positively one thing for you.

If you need an investor who doesn’t care about your credit score rating, then look no additional. Texas hard money isn’t about your credit score rating. It’s about saving the property that you really want and turning into the proud proprietor of a revamped home.  You possibly can have the property you need together with your Texas hard money Mortgage.

However what sort of Texas hard money Mortgage do you need? There are two completely different varieties; hard money lender Texas and private money lender Texas.

What’s the distinction? Not a lot, however we will undergo it collectively.

Hard money lender Texas is a group of people that want to spend money on property. Nevertheless, a private money lender Texas is one particular person who is trying to spend money on the property. You would possibly know the private money lender Texas or it’d simply be a new investor you met who needs that can assist you out. The one factor that issues is that you just trust them.

Whereas these Texas hard money Mortgages do have extra curiosity than common Mortgages, the turnaround is so fast that you just don’t discover is that a lot. Save the property you need together with your private money lender Texas or hard money lender Texas Mortgage. You and your property will likely be so completely satisfied that you just did. 

Private Hard Money Lender in Texas
Huge Daddy Dennis Hard Money Lender

Texas Hard Money
Degree four Funding LLC
111 Congress Ave Suite 400
Austin TX 78701
512-516-1177