Phoenix Arizona Hard Money Lender
These days, one of the easiest and quickest loans available to consumers and real estate gurus is a hard money loan California. While everyone is aware the housing market is rougher than sandpaper boxing gloves in a boxing match, there’s still a niche market where buyers are grabbing up property, repairing it up and selling it for a profit. The only problem with this plan is that normally banks and mortgage companies are wary of approving loans for such projects.
First of all, they want more long-term buyers that are out there and not some business-minded entrepreneur that has a passion for household repairs involving tiling and painting and roofing. Second, most banks and mortgage companies are wary of approving anybody period. The market is more than beaten and stomped all over, there’s hardly any chance worth taking a risk, because they’ll just get further and further in debt.
So one of the primary solutions is to just choose a private money lenders California. These guys hardly do background checks or credit checks because they’re fully aware your plan is just to flip a property quickly. And they like that! Since you’ll only be paying on the interest, doing nothing to the equity of the property really, it makes sense for everyone involved.
These things are also called asset-based loans or bridge loans. However, asset-based lending is a term more frequently used in conjunction with commercial real estate financing as opposed to simply hard money which is used for residential as well as commercial finance.
Dennis Dahlberg Broker/RI/CEO/MLO
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 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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
Posted Yesterday by Dennis Dahlberg