The Top 3 Tips for Working with Hard Money Lenders in 2020

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The Top 3 Tips for Working with Hard Money Lenders in 2020

The financial landscape is always changing. Learn what Hard Money Lenders in Arizona are looking for in 2020 to improve your chances of getting successfully funded.

1. Have some skin in the game. Before the market burst, you could sometimes get funded without putting any of your own money into a project. This is rarely true these days. While you can get up to 90% LTV, which may well cover everything you need it to, plan on having some of your own cash set aside for emergencies. At the very least, it’ll provide reassurance that you can see your project through if unforeseen circumstances creep up.

2. Bring experience and knowledge to the table. If you’re working with Hard Money Lenders in Arizona to fund your real estate projects, you have to prove that you know what you’re doing. The market is still great for fix-and-flips, fix-and-holds, and new construction, but your experience and knowledge will determine the outcome of the project. If you’re lacking in either, you may need to find a partner whose skills complement yours before you can take on a project.

3. Work out a solid plan in advance. Your plan should include a comprehensive timeline, each task you plan to complete, all costs you’ll incur, market research, and more. If you aren’t a specialist in any given area, be it contracting or appraisals, bring on an expert to help you plan or to review what you’ve established. It’s a smart thing to do regardless, simply because it eliminates a whole lot of costly variables, but it’ll help you get approved for financing too. You’ll also need to nail down your exit plan before approaching anyone for financing. That’s pretty straightforward if you’re doing fix-and-flips, but you may need to explore several options and crunch more numbers if you’re doing new construction or fix-and-holds.

You Can Still Get Funded with Rotten Credit!

One of the biggest questions people ask is whether Hard Money Lenders in Arizona are still willing to work with people who have bad credit. The answer is YES. Absolutely. You’re more than the sum of a credit score. If you’re bringing a great deal to the table and you’ve got what it takes to see it through, rotten credit will not hold you back. Just make sure you’re addressing the three points outlined above and are choosing projects with a lower loan-to-value rate to improve the options you’re offered.

Work with a broker who’s as eager as you are.

Experienced brokers, particularly those who work with private money, always know several Hard Money Lenders in Arizona who are looking to fund deals. They can help you find someone who understands the nuances of your business and will find the best terms available. Moreover, they understand the value of what you’re doing and want you to come back to them for your next project, so they’ll work even harder than most to make sure you’re not just getting an approval, but a great deal too.



Dennis Dahlber Broker Ri CEO Level 4 Funding LLC
Dennis Dahlberg


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.

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