If you have rental property you want to borrow against and traditional investors are holding you up for whatever reason, there are other options. Check into for Arizona rental property loans obtained through hard money sources in order to find out if this can clear the way for you.
Money, generally speaking, is the key to making money—you have to have it to make it and buying property—any kind–calls for a lot of it. Traditional mortgage lenders, banks and the like will lend, but they will go through your credit history one item at a time, tie you up with procuring documentation of all sorts and bring the whole process to a grinding half if any bumps appear long the way. This will put you back to the place you originally began, minus a great deal of effort on your part and considerable time loss.
Say you have an apartment complex you would like to use as collateral, but it needs major renovations, roofing, windows, flooring, et al. Traditional financiers won’t lend money on property that needs renovation on any large scale; their emphasis centers on the value of the property as is and damaged property is not an encouraging sign to a conventional lender. You have reached that point when other options should be investigated.
Although most people say that traditional loans are the way to invest in rental property, there are times when an Arizona rental property loan via hard money and designed for rental property may just be the answer to your problem.
Three positive reasons for this type of loan are fast processing of the actual loan application. First you will get your money sooner, something everyone wants. Secondly, you may be able to borrow a larger amount of money and cover more of your desired project quicker. Finally, you can grow your real estate portfolio and have something to show on down the road when another investment catches your eye. If you have kept up your end of the deal and repaid the loan in a timely manner, the established relationship with your lender could aid you in your next project.
Another very pleasant reason Arizona rental property loans are a good form of financing to follow is that these type loans don’t require a down payment like most banks. The least most traditional lenders generally require begins at around 20 percent of the property’s value.
Customers do, however, end up paying much more for the loan in fees, interest rates and the like for this particular kind of funding.
This type loan is not for everyone, but it’s definitely worth looking into. Roll up your sleeves and start investigating this possibility that could aid you in making your dream investment into a reality.
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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.