How to Become a Landlord with Hard Money Lenders in Texas

Being a landlord can be a very lucrative business if you are driven, have some handyman skills, and like working with people. With hard money lenders in Texas you can qualify for a loan on a rental property, even if you have rotten credit, a high debt to income ratio, or other financial issues.

If you want to own rental properties, you are in good company. Rental income can be a great supplement to your finances and in some cases, be enough to quit your other job. If you want to be a landlord, you need to look into hard money lenders in Texas.

Hard money lenders give out specialized, hard money loans. A hard money loan is an asset based, cash loan that can help you purchase investment properties. You can use hard money loans for a number of situations including cash for a down payment or even to finance the entire purchase. Loans from hard money lenders in Texas are especially useful if you need cash quickly like in the case of an auction property or foreclosure. Often you can get a great deal by having cash in hand compared to the promise of traditional financing. This is especially true if you are purchasing an auction or foreclosure property.

Before you take the plunge and become a landlord, you need to make sure that it will be a good fit for your lifestyle and goals. Being a landlord usually means being on-call almost 24-7. Unless you own several properties and can afford managers and maintenance companies, most of the work will fall on your shoulders. It is also helpful if you have some basic home repair skills or have connections to get maintenance for cheap. Once you have decided that being a landlord is the right choice, Texas hard money lenders can help make your dreams come true.

3 Ways Texas Hard Money Lenders Can Lend A Helping Hand

If becoming a landlord using loans from hard money lenders in Texas sounds like a good option, make sure you do your research before you commit. Here are 3 situations where hard money loans can make your dreams come true. 

1. You anticipate a windfall or making above average rent on the property. Hard money loans do carry a higher interest rate so they are not good long term solutions. But, if you anticipate a large windfall they can be a great bridge loan to buy the property now and pay later. If the property is a great deal in a high rent area hard money loans may also be a great option if you can make money above and beyond the interest rates.

2. You need cash quickly. If you need to move fast on a deal, hard money lenders can get you approved and get money in your pocket much more quickly than a traditional bank. 

3.  You have bad credit or other financial issues. Hard money loans are based on the merit of your investment and its ability to generate income for you and your hard money lender. This means that Texas hard money lenders don't care too much about your credit score or debt to income ratio.

If you want to learn more about how hard money loans can help you become a landlord, contact Texas hard money lenders today!

Don't wait any longer to make your dreams come true. Call a hard money lender today and discuss your loan options.

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

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