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.

With Hard Money Lenders, Texas Investors Can Get the Money They Need

If you are a real estate investor, you have probably noticed that many banks are tightening their restrictions on who they will loan money to. This can be frustrating and affect you ability to make money, However, with hard money lenders, Texas real estate investors can still get the money they need, and usually get it pretty quickly.

The housing market is recovering as are most American families from the recent economic hardships that faced our country. However, it seems that no one has informed the banks. With tightened lending restrictions, more stringent credit requirements, and even less room for qualifications for candidates with alternative income sources, about 43% of Americans will find themselves unable to obtain a traditional bank mortgage. For the average family this is upsetting, for an investor it can be devastating as real estate loans can represent a major portion of their income.

But, for some investors there is still home. With hard money lenders, Texas investors can still get the money they need and they can usually get it pretty quickly. Like any loan or investment product there is still some risk involved and it is important that before they get involved with hard money lenders, Texas real estate investors know what kinds of loans they offer, interest rates, and what the risks are.

Types of Loans From Hard Money Lenders Texas Investors Can Take Advantage of

Hard money lenders are private investors or mortgage companies and they offer primarily what are called hard money loans. A hard money loan is a specialized type of asset based loan. The decision on whether to loan money is based on the merit of how the money will be used, not the individual credit score of the person who needs it, or any other personal financial details. 

Qualification time for a hard money loan is fast, some investors can be qualified the same day and get their money in a few days, compared to several weeks with a bank. Also, another advantage of hard money lenders Texas investors appreciate is the streamlining of paperwork. There is much less paperwork with hard money loans which makes them more user friendly for investors who may get multiple loans at a time. 

If hard money lenders Texas sound like a good option for you, learn more, including ways to risk less and profit more!

One of the main risks of a hard money loan is that the investment will fail. If you are a Texas real estate investor, knowing your area and having accurate appraisals can make this less likely. You will also pay higher interest rates on hard money loans. You can make this less of a financial burden by finishing your investment quickly and selling for a profit, or refinancing to a lower interest rate loan type. 

While there are risks, many investors have found that hard money loans are just what they need to stay afloat in this restrictive loan environment. Find a hard money lender today to discuss the pros and cons for your unique situation.

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.

Real Estate 102: What You NEED to Know About Texas Hard Money Lenders

If you are looking for an alternative funding source for a real estate investment, look no further than Texas hard money lenders. Hard money lenders Texas are investment groups and mortgage professionals that can help fund you next project and make your dreams come true!

If you are looking to purchase an investment property like a fix and flip, or rental property and have been denied a loan from a bank, don't give up hope just yet. With Texas hard money lenders you can probably still get the loan you need with less hassle and paperwork than a traditional mortgage. Texas hard money lenders base your loans on your assets and investment potential, rather than many traditional qualifiers like debt to income ratio or credit score.

So, what does this mean for you as an investor? Well, it means that for many investors, additional financing is within their reach. Many real estate investors have an undesirable debt to income ratio on paper. Many write offs or non-cash assets like other investment properties can look like negative assets when in reality they make you money ever month. However, the mortgage balance owed or the sheer number of properties owned can be a turn off for the bank. Also, if you suffered a foreclosure on an investment property during the housing collapse, getting a bank loan can be trick. Rest assured that neither of these will be a problem for Texas hard money lenders.

What Exactly is A Hard Money Texas Loan?

If a loaned funded through Texas hard money lenders sounds like it could be just what you need, it is time to start learning more about hard money loans. Hard money loans are asset based loans that are secured by real property, the investment property you are purchasing. They are short term loans and are given by an investment company or private mortgage firm.

When you get a hard money loans through Texas hard money lenders, there are a few things you need to be aware of. Firstly, the loan process will be quick and have less paperwork than a bank loan. You can usually get your money in about two weeks, sometimes less depending on the lender. Secondly, the Loan to Value or LTV ratio will differ by lender as will interest rates so make sure you shop around to choose the best Texas hard money lender. Finally, you will be charged a higher interest rate on this short term loan because it is riskier for the lender. If you can sell the property quickly enough this won't matter and both you and your Texas hard money lender can make quite a bit of money.

Once you have decided that hard money is the right decision for you, find a professional broker who specializes in alternative investment funding. 

You will be glad you found Texas hard money loans when you get the keys to your investment property. And you will be even happier when you walk away from selling it with lots of extra cash in your pocket!

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.