Hard money is money pooled together by private investors or groups of investors. These private investors lend money out at an interest rate securing comfortable returns. Once pooled, hard money is lent out in two ways: either directly from private lender to borrower, or through an intermediary known as a hard money broker, who gathers and loans out the funds of Arizona Private Money Lenders. Typical hard money borrowers include: new real estate investors unable to secure conventional lending; investors with poor credit or little cash down; investors falling short of income stipulations or possessing limited work history; investors dealing with multiple mortgages; investors purchasing distressed property within a short period of time; and investors renting and renovating.
Hard money has many attractive benefits to these and many other types of borrowers. First, there is more opportunity to participate in more deals: Sometimes, getting a foot into the real estate investment business is tough. When conventional lending shuns new investors, other financial means are needed. Arizona Hard Money Lenders offer borrowers a chance when banks say no. Furthermore, hard money offers experienced investors creative solutions such as financing multiple properties, refinancing exciting properties, or renovating older properties. Second, it is easier to get financed. Do towers of paperwork delineating obscure legal stipulations scare you? If so, good news, Arizona Hard Money Lenders have less paperwork the banks.
Third, Fast approvals. Some real estate investors don’t have the luxury of waiting months for conventional lenders to give the green light. Wholesalers, flippers, and renovators vying for limited distressed properties may need money fast to scoop up properties at auction. Sometimes, the answer is hard money. Arizona Hard Money Lenders can secure in days what conventional lenders can secure in months. Though hard money may have higher interest rate, they present opportunity and allows for acquisitions and returns.
Forth, you can negotiate a payment plan. Do banks make you feel like an insignificant minnow in a sea of paper? Do you miss the old days when you could talk to people face to face? Great. Arizona Hard Money Lenders are personable and able to set a financing plan in motion that suits your needs. Fifth, no prepayment fees. If you pay off your loan too soon, there is no problem at all.
Sixth, you can get approved with bad credit. Arizona Hard Money Lenders are not so much as focused with credit worthiness as are conventional lenders. Instead, they are interested in loan-to-value, equity, property value, and after repair value. These factors give Arizona Hard Money Lenders an indicator of risk and security. This great news for individuals whose credit has been ransacked after a divorce, destroyed after a bankruptcy, or marred by past delinquencies.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.