Tips to Make Money as a Landlord With Texas Hard Money Lenders

Many people are taking loans from Texas hard money lenders and investing it in a rental property. Being a landlord can be very lucrative, as long as you know the industry and neighborhood well. 

Texas hard money lenders can provide you with the upfront funds you need to secure a property that you wish to convert into a rental, but it’s up to you to turn it into a cash-flowing business.

Here are a few tips to make being a landlord lucrative for you!

1. Scout the neighborhood. Some areas can be deceiving. Make sure you find an area with good schools and desirable amenities. Drive around and check out an potential rentals and their surrounding areas to make sure they are a good rental property.

2. Choose a property that needs cosmetic repairs. According to Texas hard money lenders, doing minor repairs will help you get the most bang for you buck. Just don't bite off more than you can chew. 

3. Use an appraiser to get a rough idea of property values and potential rental incomes. This will help you decide if the property you are considering is a good investment.

4. Don't shy away from commercial property. Often being a commercial landlord can be less of a hassle and generate more income than being a residential landlord. With Texas hard money lenders, you can get commercial real estate loans. 

Is Becoming a Landlord Using Texas Hard Money Lenders Right for You?

The choice to become a landlord shouldn’t be taken lightly. It requires a lot of planning and strategic thinking in order to turn it into a successful venture. However, once you have the initial work done, it’s generally just a matter of keeping up with regular maintenance around the home and troubleshooting any issues your tenants have. Although it isn’t truly residual income because you have to make sure the house remains in proper form, it’s often a very laid-back job that doesn’t require too much attention. Most of this comes down to excellent planning and choosing the best tenants.

Is Getting a Helping Hand from Texas Hard Money Lenders the Best Way to Become a Landlord?

There are many paths that can lead to the same outcome- obtaining a rental property. However, banks will look at your credit history, income, and other details to see if you qualify for a loan. Texas hard money lenders mostly focus on the value of a property, and the funds they provide can kick off your entrepreneurial start. If you have a strategy for how to obtain a long-term mortgage after the term ends, or you’ll be able to pay off the debt in its entirety, it could make the whole process much simpler. It’s always advisable to get the opinion of an expert before delving into things, but in the end, you’ll have to weigh the pros and cons for yourself.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.