The mortgage-free lifestyle is the stuff dreams are made of, but many people believe it’s not within reach. There are actually many ways to accomplish this, and Texas Private Money Lenders can help set you on the path to financial freedom.
Data from Forbes Magazine concludes the average person is now leaving school with close to $40,000 in debt and one-in-ten with student debts is in default. On the other side of things, Value Penguin places the average amount of credit card debt at over $9,000 for balance-carrying households, while CNBC concludes nearly three-quarters are in debt and the majority believe they always will be. Nearly 80% of full-time workers are living paycheck-to-paycheck, and those with six-figure salaries are not immune, with close to 60% saying they were in the red.
It’s statistics like these which cause people to either make dramatic life changes or, at the very least, seek out alternative income streams. The good news is, there are many ways to approach this, depending on one’s personal style, and you don’t even have to have good credit to make it happen. It’s more a matter of identifying which strategy is right for you and pairing up with the right Texas Private Money Lenders to make it happen.
Generally speaking, property investing falls into two main categories; fix-and-flips and fix-and-hold. With the fix-and-flip variety, investors purchase an inexpensive property, upgrade it, and sell it rapidly for a profit. In most markets, each flip generates $20,000 or more, though some of this depends on the prowess of the flipper. With fix-and-holds, the investor keeps the property after repairs, either holding it until the market increases its value naturally or for the sake of renting it out to gain an income stream. There is a hybrid with this in which the flipper also lives in the home as repairs are being made as well. It’s an option worth exploring for those who don’t mind moving around a bit and can establish loan terms which allow it. Yet, these aren’t the only approaches that are being leveraged. As the housing market has shifted, there have been more people approaching Texas Private Money Lenders to get loans for Airbnb properties and even tiny houses too.
Once you decide which strategy is more in line with your comfort level and goals, you can explore your options with Texas Private Money Lenders. Using this form of lending, also sometimes referred to as hard money, the property you purchase serves as collateral and you’ll usually make interest-only payments until the term is up. That gives a bit of breathing room to work through your project and enables you to qualify even if you wouldn’t normally get approved by a bank. Considering the average mortgage payment in the western United States exceeds $1,200 per Value Penguin data, it’s easy to see how eliminating the expense can totally change your life.
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.