Rework your Arizona hard money loanrequest to make sure it gets accepted by a lender and you can begin your project.
Let’s face it – rejection hurts! Especially when it’s your livelihood on the line. If you’re a real estate investor, securing your Arizona hard money loancan mean the difference between success and failure because snagging a deal as soon as possible is KEY!
When you approach a lender for your Arizona hard money loan, they will ask for a project plan for two reasons:
1. They want to see your plan to ensure you’ve thought out your project from inception to completion.
2. They want to know how they’ll make their money back.
If you’re not providing that information in an easy to understand way, or you’re simply lacking pieces of the puzzle that make the lender uneasy to fund your project, you may face losing out on a deal because you can’t get your funding quick enough.
That doesn’t mean it’s time to give up! Once you present your project, the lender may offer some advice, but if they don’t there are some things you can do to make sure you have covered all the bases before your Arizona hard money loanpresentation.
Here are the things you should include to increase your chance of acceptance:
· Amount of loan requested
· Reason for needing the loan
· Your investment
· Project timeline
· Total project cost
If any of those integral pieces of your project puzzle are missing, you can count on having to rework your proposal and having to re-present your plan to the lender to secure your hard money loan.
Level 4 Funding is ready to hear your ideas and learn how we can help you pave the way to success in real estate investment. Call us today to set up an appointment to present your next project!
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.