How do Hard Money Lenders Differ from Each Other?

How do Hard Money Lenders Differ from Each Other?

Know your lending options so that you are educated on what to expect when you’re ready to obtain that first commercial loan. There are several things to consider when evaluating hard money lenders.

The following are the varying differences you will encounter when obtaining a commercial loan:

· What is the loan to value ratio of your project? If the ratio is high, the more cash that you will receive for your project.

· What is the minimum and maximum loan amount of the lender?

· Are the hard money lenders that you’re talking with direct lenders (funds in house) or are they a broker? Brokered loans can delay delivery unless dealing with agents that have an extensive rolodex.

· Is the lender local or what geographic region do they serve? Where is your project located?

· What are the closing costs and interest rate?

· Can they close the loan quickly? Are they responsive to you and your project?

· Is the lender trustworthy and experienced in the type of project you are seeking to fund?

When searching for hard money lenders, a Google search will produce hundreds of options. Be sure to look for the following:

Experience. The lender you are talking with should have plenty of experience in the real estate industry as well as experience in the niche industry of hard money loans. An experienced lender will have knowledge in the specifics of hard money loans. The experienced lender will also have the knowledge of procedures and regulations that must be followed which will simplify the process.

Licensed. A hard money lender should hold licenses with state and local real estate bureaus and associations. If the lenders originate consumer loans, then they should be registered with Mortgage Licensing System (NMLS).

Rates and Terms should be Competitive. Look out for lenders who charge interest rates that seem too good to be true. This may be indicators that the lender you are talking with or negotiating with is either unexperienced or untrustworthy.

Transparency is Key

Some lenders will use a bait and switch tactic. Published rates that are very low are often used to attract novice investors looking for the best deal. In all communications, a reputable hard money lender should be clear and upfront about rates, fees and terms.

Quick funding is one of the most common reasons that real estate investors choose to obtain capital from a lender specializing in hard money.

You locate the real estate you want to invest in, your offer is accepted, and now the clock runs, and time is of the essence. You may be choosing this type of lender because of the time-consuming process a conventional lender takes to approve a loan. Then, of course, there is the massive documentation that is needed with a conventional lender. Hard money lenders are known to deliver the loan quickly. As many an investor will tell you, if you do not get the loan funded quickly, you may very well lose the deal. If the lender you’re working with cannot fund the loan in an expeditious manner, you may want to seek capital elsewhere.

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

Dennis Dahlberg Broker/RI/CEO
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.

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What Are Hard Money Loans Texas, and How do I Get One?

If you are a real estate investor, you need hard money loans Texas financial experts use themselves. Hard money loans are a little know but very effective financing strategy that can help you invest in real estate and make your dreams come true. 

There is a well kept secret in the investment world, hard money loans Texas financial experts agree are a good option for many real estate investors. A hard money loan is an asset based loan that uses real estate that is intended for purchase as collateral for the loan. The money loaned is based on a variety of factors including the merit of the investment, potential to earn money, and the value of the property you are buying. Other factors like credit score or personal finances don't usually figure into the lender's decision to give out hard money loans Texas investors rely on to finance their real estate purchases.

While there are many, many benefits to hard money loans, Texas investors have often never heard of them. Hard money loans can be a great way to get financing if you need fast cash, or have some blips in your credit history. Approval time is fast and you can usually get your money the same day. This makes them an investors dream come true because you can use them to purchase auction properties and other properties that may require a quick decision or a cash only sale.

Once you have decided that a hard money loan is the best option for you, here are 3 things you need to know before you buy.

1. Hard money loans have a higher interest rate. Since approval times are so fast and the impact of your credit score is so low, hard money loans are a higher risk for the lender which means you pay a higher interest rate. However, it is important to keep in mind that hard money loans should be short term loans, which means the amount of interest you pay is negligible, even if the rate is higher.

2. Make sure you have a plan. While hard money loans are easy to get, they are not given out to anyone who walks through the door. Come to your lender with a property in mind and plan to make money, This will help ensure that you get your loan quickly and without any hassle.

3. Always have an exit strategy. This goes along with having a plan. Make sure you crunch your numbers to figure out exactly what you need to sell a property for to break even and to make a profit. Prepare for the worst case scenario so you don't end up losing it all.

Once you have decided that you need a hard money loan, call our experts at Level 4 Funding. We specialize in alternative financing methods for real estate investors and can help you choose the right loan product to fit your needs.

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.

How to Flip a House: Take the Advice of Hard Money Lenders Texas Investors Trust

If you want to make money buying and selling homes, the best way to do it is to purchase and fix up homes that need a little TLC. However, you need to keep in mind a few tips from hard money lenders, Texas investors, and other financial professionals to ensure that you choose a lucrative project that helps you earn a profit. 

If you turn on HGTV, shows like "Flip or Flop," and other home flipping shows make it appear that anyone with a brain and a large hammer can purchase, renovate, and sell a home for a profit. However, when you talk to the experts like hard money lenders, Texas realtors, and other real estate investors, it becomes apparent that there is more to making money on a fix and flip than those shows lead you to believe.

While a fix and flip property can be a great opportunity to make money, hard money lenders, Texas real estate agents, and fellow flippers want you to know the ins and outs of the fix and flip trade so you can maximize your profit and minimize your losses. Here are 3 tried and true tips to help you make money by rehabbing and selling a property.

1. Location, location, location. According to hard money lenders, Texas real estate experts, and other financial professionals, the location of your fix and flip cannot be stressed enough. most other issues can be fixed, but not the location. Choose a desirable area and your home will pretty much sell itself.

2. Don't over-improve. Make sure that you realize that you don't actually have to live in the property so you can make some compromises. Going with the most expensive upgrades usually means you will end up losing money.

3. Try to re-purpose rather than replace. If you can stain or paint the existing cabinets or move that hideous kitchen island to another location to become a built in desk, you will save money. The more you save, the smaller your chance of losing money.

Once you have decided on a fix and flip, it is time to choose a hard money lender, Texas realtor, and other real estate experts to purchase the home

A hard money lenders, Texas realtor, appraiser, and home inspector can work with you to make sure you get financing for a property and that it is a good value. You can also save time and ultimately money by making sure you don't overpay and that no hidden surprises come up during your renovation. 

Call our office at Level 4 Funding today to get started on your hard money loan for your Texas fix and flip property. Our experts can help you get the money you need, today!

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.

What You NEED to Know About FICO Scores and Hard Money Loans Texas!

Many Americans will find themselves in the position of having "bad" credit at some point in their lives. However, bad credit does not have to keep you from your dreams of real estate investing. With hard money loans Texas, credit problems can be no problem at all.

If you have bad credit, you may feel like you can never catch a break. Everything from car loans, to home mortgages, to store credit cards may be out of your reach. However, it is important to know that you are not alone. Bad credit is classified as a FICO score of less than 640 and nearly one in four credit using Americans fall into this category.

A low FICO score might make it seem like real estate investing is out of your reach. This is simply not true. With hard money loans Texas from Texas hard money lenders, the real estate investment market is within your reach. This is because hard money loans Texas are not based on your credit score. Instead they are based on the merit of the property you want to invest in. Texas hard money lenders are in more than the business of giving out loans, they are in the business of making money, for you and for them. If you have an idea that will yield substantial profits, they are usually willing to look past your less than ideal credit score.

If you are going to invest in a property with Texas hard money lenders and you have bad credit, you need to keep a few things in mind.

1. You will pay a higher interest rate for the loan. You are a high risk borrower so your hard money loans Texas will come with a higher price tag. Keep in mind that this is meant to be a short term, for profit loan and make sure you have an exit plan.

2. You need to be taking active steps to repair your credit. If you come to your Texas hard money lenders with terrible credit, no job, and are late on multiple payments, you can expect to not get a loan. You need to be able to show that your credit problems are a minor setback, not a regular habit. This means start making payments on time and have a source of income.

3. Come in with a plan. Have a property you want to purchase and timeline for selling it, as well as a realistic budget. Convince your Texas hard money lenders that YOU are a good investment.

4. Get to work and make money. The faster you complete your project, the less interest you will pay.

5. Enjoy your profits, rebuild your credit, and keep investing in real estate!

That's it, pretty simple, right? Call us today to get started!

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.

Level 4 Funding is THE Hard Money Lender Texas Investors NEED to Know!

When it comes to a hard money lender Texas real estate investors need to know Level 4 Funding. We specialize in alternative funding for investors including Texas hard money loans and other investment strategies. We can help make your dreams come true today!

If you are looking for a hard money lender Texas investors know and trust, look no further than Level 4 Funding. Here are the top 5 reasons that you need to look into Texas hard money loans with Level 4 Funding if you are a real estate investor in the loan star state.

1. We specialize in alternative funding sources like hard money loans. As a hard money lender Texas investors can count on, our brokers are up to date on all the laws and regulations regarding hard money loans. We can answer all of your questions and explain terms and financing to you in plain English so that you know exactly what you are getting into.

2. We are happy to work for first time investors, seasoned real estate moguls, and everyone in between. Regardless of how experienced you are, we can work for you as your hard money lender Texas investors trust!

3. We have a lot of experience with Texas hard money loans. A lot. And we love to share our knowledge and expertise with you. We also have experience with the Texas real estate market and can help point you in the direction of the best investment for you.

4. We can help you cross-collateralize your loan. if you find that our LTV ratio is not high enough for your needs, we can help you look at other assets and find the money you need.

5. We work with you, not against you. Our goal is to help you make money so we all make money. It is a win-win scenario and we are happy to be on the journey next to you!

When you are ready to get started with Texas hard money loans, call us to get the ball rolling!

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.

Top 3 Reasons You NEED Hard Money Lenders Texas!

 If you live in Texas and want to start investing in real estate, then you need to start looking into hard money lenders Texas! Hard money lenders in Texas are mortgage firms that specialize in helping investors find alternative funding sources to loan to investors as ways to make money on real estate. Here are the top 3 reasons that you NEED to start looking into hard money lenders in Texas.

1. Hard money loans Texas should really be called Texas easy money. Texas hard money loans are easy to qualify for and require very little income verification. In fact, the only thing that really matters is the potential to make money. This is great news if you have a high debt to income ratio due to having your assets tied up in other properties. This also makes hard money lenders Texas a great funding source if you are self-employed and have trouble verifying your income.

2. You have a bad FICO score. Like debt to income ratios, FICO scores don't matter too much to Hard money lenders Texas. Even if your credit is less than perfect, you can still get the hard money loan that you need.

3. You need cash fast! If you need cash in hand quickly to make an offer on a property, hard money loans Texas are just the ticket you need! It often takes only a couple of weeks to close your loan so you can get the cash you need for an auction or foreclosure property you want to buy.

Once you have decided that you NEED a Texas hard money lender, your first stop should be Level 4 Funding. We provide competitive rates and well as high loan to value Texas hard money loans. Our licensed professionals are passionate about Texas hard money and will fight for you to get the money you need. Give us a call today!

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.

How to Risk Less with Hard Money Lenders Texas

If you are in the market for a privately funded real estate loan, you have a couple different options. One is to have a private investor fund your loan. This can be someone you know or may even be a stranger who sees a good investment opportunity. While this method does have some benefits like fast approval and almost no paperwork, it can also be very, very risky. Without a solid contract you leave yourself open to losing everything. Your investor is also at risk, especially if you are both new to real estate investing or inexperienced with lending.

A much less risky private funding source is through hard money lenders Texas. Hard money lenders are a group of investors that is headed by a licensed mortgage broker. They give you a private loan with less paperwork, but they have experience and know all of the rules and regulations surrounding hard money loans Texas. In addition, you can be sure that your loan is legal and both parties are protected because the loan is sourced through a broker with experience.

Hard money lenders Texas provide many of the same benefits as a private lender but with less risk. Here are just a few of the benefits of getting hard money loans Texas from a hard money lender.

• Fast approval and funding. Usually you have your money in just a couple of weeks!
• Less paperwork. You won't spend countless hours filling out paperwork and providing income verification. Hard money lenders help streamline the process and save you time!
• Asset based loan. Your Texas hard money lenders base your hard money loans Texas on the property that you want to invest in, not your credit score. Good news if your FICO report isn't perfect!
• Short term loans. Hard money loans Texas are best used for investments so the terms are short. This saves you money on interest and makes everyone happy.
• Renegotiable terms. Hard money lenders Texas can renegotiate the terms of your loan if you need more time to complete your project. 

Stop procrastinating and call your hard money lenders Texas today! Get the loan you NEED to start your real estate project!

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.