If your a first time flipper, or real-estate investor you might be having a tough go of it getting financing from the bank. Theres lots of advice out there telling you that you can fund your first real-estate venture with a loan from a close friend or a relative. But getting a real-estate loan from your rich uncle is generally not a good idea. Learn the benefits of working with professional Arizona private money lenders.
If your a first time flipper struggling to fund your first deal, you might be considering going in hat in hand to a close relative or your best friend. You might think a big shot professional lender will pretty much give you the same deal as all his other clients, while relatives and relations always think the best in you. While convincing your mom to give you a zero interest loan for your first flip might be easy it’s not a good idea.
How Professional Arizona Private money lenders excel
1.They have the money- Things move fast in the flipping game and a professional private lender actually has money to lend you. Once the application process closes, you’ll have the money you need to get started.
In contrast, it might take months for your relative or best friend get their funds together. Waiting for your relatives to get their ducks in a row could cost you a great opportunity. Plus just think of all the awkward phone calls-“yes Uncle Lester, remember that loan we talked about?” On that note, with a professional lender…
2.You don’t risk your relationships- A professional lender might not cut you slack if you miss a payment, but they wont take it personally either. . It’s just common sense, money ruins relationships. On that note, theres a much better reason to work with a professional
3.You build a reputation- Do you think successful flippers rolodexes are full of close relatives ready and eager to fund their deals? The answer is no. Successful flippers get that way because they have an established relationship with a professional lender. After funding a few deals with a professional you might qualify for no money down financing, meaning you’ll be able to flip for free. The sooner you start building a relationship with a professional lende the sooner you’ll be able to get such deals.
Basically ask yourself if you want to risk your relationships in order to flip houses? What if something goes wrong (which it will) and you can’t pay your relative or best friend back? Think of all the tears, venomous phone calls and thanksgiving dinners where the only conversation is between the silver ware.
You can spare yourself all of that pain and heartache by getting a professional lender to fund your first deal. Getting a professional on board will get you your money faster, save your relationships and let you start a new relationship, one that can pay dividends for years to come.
Think about it.
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About: 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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