By now, you know that there are reputable lenders in practically every state, especially hard money lenders. Dallas lenders of hard money, in particular, are some of the most reputable lenders you can find, even when dealing with rehab financing and rehab projects.

If you are a newcomer, you may not know that lenders that provide rehab financing are, in many ways, just niche hard money lenders. Dallas lenders who specialize in hard money rehab loans, however, are not necessarily on every corner, therefore, you need to know what to look for when it comes to these particular kinds of hard money lenders. Dallas rehab projects, similar to other rehab ventures, are held up to a higher standard in the world of hard money lending, so let us discuss what that standard entails.

For starters, these particular niche lenders, if you will, consider several crucial things when deciding whether or not to approve your hard money financing. For example, what you paid for the particular piece of property is always a discussion topic. These lenders want to ensure that their investment, as well as their investor’s stake in your project, is protected. In other words, if you purchase the property and do not make any improvements there needs to be protections in place.

Similarly, your lender and potential investor will be highly concerned about your rehab project’s upside potential. Of course, this is not to say this will factoring into your loan to value ratio, but rather that it will help everyone determine how potentially risky extending financing may be. In addition to these factors, your lender will want to fully understand the nature and extent of your rehab project, as well as the ins and outs of your personal financials.

Other Things to Consider

Besides the above-mentioned concerns, your future niche lender will also want to ensure that you meet your repayment terms for your rehab loan. Thus, you will quickly see that though you are securing your rehab project via hard money, there are expectations and firm commitments that you won’t often see with other kinds of financing. Of course, there is no need to panic all this means is that you need to work within the timeframe or rather fixed period. However, if you are unable to work within your set time period for whatever reason, then you have to deal with prepay penalties. Prepay penalties are typically standard when dealing with rehab loans, so it is important to keep them in mind when moving forward with your hard money financing.

How to Make Money with Rehab Financing

Ultimately, if you play your cards right you can secure hard money financing for your rehab project or venture fairly easy. It is all a matter of knowing what to expect from your lender, understanding the market and ensuring that your rehab project has what it takes to turn a profit while allowing you to avoid any prepay penalties or fees. Remember, you can earn a sizable return with the assistance of a rehab loan, so if you don’t know where to start your lender search ask around!

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
 
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.









          

There are a variety of things you can accomplish with hard money lenders. Dallas lenders who offer hard money financing, for instance, are more than willing to work with you no matter your financing or refinancing needs.

Generally, when people are looking to refinancing in the real estate market, it is for several reasons, with the most prominent reason being foreclosures. Nevertheless, if you are like most borrowers, you more than likely believe that foreclosure cannot be overcome with the help of hard money lenders. Dallas lenders, in particular, actually have a clear record of helping borrowers avoid foreclosure via refinancing.

Thus, at this point, you are probably wondering, just how can one accomplish this with hard money lenders? Dallas lenders, as well as the majority of other lenders of hard money, can easily help you avoid or rather overcome foreclosure via refinancing by following a few simple steps. This means, for starters, compiling a list of lenders who offer hard money financing in your area.

Upon doing so, you more than likely know you need to investigate every potential lender that is offering the kind of assistance you need. In this case, you would be doing your research on refinancing with hard money. While narrowing down your lender options, make it a point to compare interest rates, fees, and loan terms. It is important to do so, especially with refinancing, so that you do not put yourself in further debt or in a situation where you are unable to pay back the hard money you borrowed. During this stage, you will also want to obtain as much information as possible about the value of your home, the terms of the pending foreclose and of course, your financial documents (tax returns, bank statements, credit report and so on).

How to Secure your Hard Money Refinancing

Once you have taken care of the basics, you need to shift your focus a bit and make sure that you everything you need for hard money financing. Upon completion and submission of your hard money financing package, you should find out in approximately a week or so whether or not you can move forward with your refinancing. Once approved, you will clearly use the secured funds to overcome your pending foreclosure. With that being said, however, it is important to continue looking for financing as hard money financing is only short-term or rather a band-aid for the foreclosure.

A True Helping Hand

In the end, the securing hard money refinancing is not overly complicated or too different from secure standard financing. Thus, you should be able to use the financing you obtained to save your home. Typically, as briefly mentioned, hard money financing is short-term regardless of its intended use, therefore, you should not only use this time to find long-term financing, you should also fix whatever credit issues or financial problems that brought you to lenders of hard money in the first place. Of course, this may be difficult to do in such a short period of time, but the good news is it is possible and most loan terms for hard money refinancing can be extended to up to 2 years.

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
 
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.









          

By now, you have probably heard a lot about the west coast hard money lenders. Dallas, however, also has some reputable lenders that can help turn your real estate ventures into a truly successful investment.


The wonderful world of real estate investing can be exciting and extremely lucrative, especially with the right hard money lenders. Dallas lenders, in particular, offer a real chance at making a real profit while still being able to meet the terms of your loan. For instance, most hard money financing is used to fix and flip houses or rather it is the bulk of business for hard money lenders. Dallas lenders, especially come across borrowers as well as investors that fix and flip houses.

Why this matters is because this often is the most effective way to make a real profit when it comes to real estate investing, especially if you are starting out. Thus, let us say you are looking to get into the business of fixing and flipping, you, of course, would need short term financing to get started. This is where your lenders of hard money would come into play.

As briefly suggested, Dallas is home to a sizable number of this particular type of lender. A quick search will often lead you to a list of the top 75 lenders who offer hard money financing in Texas. Clearly, it almost goes without saying that you should select a few local lenders. Thus, if you are looking to fix and flip in the Dallas area, you should start there or if you have a local lender where you do business you can also start there. Once you have selected a few lenders for your hard money financing, your next step is to try and find the lender that allows you to get ahead and maintain.

How to Make Money
Obviously, the main goal with any real estate investment is to make money. But, the trick with fixing and flipping a house is to figure out how to make money and pay off your loan at the same time. This delicate balancing act has more to do with the lender you choose to work with than any other factor. Therefore, you want to make sure that you are working with a local lender that allows you plan accordingly and has been open with you about your loan type as well as loan terms. The best way to ensure that you find this kind of lender for your hard money financing is to do your research or due diligence. In doing so, you will have created the necessary foundation for staying successful.

Staying Successful
In the end, making a profit and meeting terms of your loan can be a reality if you stay focused/plan ahead i.e. make it a point to stay informed as well as organized. Ultimately, if you are in the business of fixing and flipping houses, you know that time is of the essence but that does not mean you rush into things without knowing what you have signed up for.

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
  






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.