How do I find the right Arizona hard money lender?September 25, 2012
Quick Answers to Quick Arizona Hard Money QuestionsSeptember 25, 2012
How Arizona hard money can be borrowed and used
The first and most common example of Arizona hard money
Mortgages is a residential investment Mortgage. This is for an individual person seeking a Mortgage and the property purchased with the money is then used as collateral. Fortunately for the buyer, this eligibility for this Mortgage is determined on the property, not on the borrower’s ability to pay.
Next, we have Arizona hard money for commercial investments. This is for companies (small or large) looking to invest in property or in a “fix-and-flip” project. (This can also be done as an individual, but is a little less common.) In the residential case, your company might not have ownership of other property to use as collateral, so instead, they may accept interest in your company. Basically, the Arizona hard money lender would be a part-owner of the business, at least until the project is completed and the money has been paid back to the lender.
Most Arizona hard money
Mortgages are a bit shorter Mortgages–about 6-36 months. When done correctly, both the lender and the borrower can actually profit. After you have revamped the property you purchased, you can turn around and sell the property for more than what you paid for it. Then, you pay off your Mortgage, make the homebuyer happy, and you have a little extra cash in your pocket. If you play your cards right, you can actually turn this into a profitable income for yourself.
The possibilities are endless with Arizona hard money!