Best West Direct: What You Need to Know About Hard Money Lenders

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Saturday, September 7, 2019

What You Need to Know About Hard Money Lenders

You’re seeking out a loan for your first investment—but how do you know how to go about it, and what option is best for you?

Here’s what you need to know as you research your loan borrowing options, including private Arizona hard money lenders.

You may have heard of private lenders who offer hard money. So, who are they? Private lenders are companies and investors who provide alternative options for borrowers who need money fast, or for borrowers who are having trouble obtaining loans from traditional options, like banks or credit unions. Arizona Hard Money Lenders can offer speed, flexibility and a personal experience.

Some lenders are able to get the ball rolling within 24 hours! This can make all the difference on a competitive real estate market, or for families who need to prevent a foreclosure—fast! Traditional lenders may need as long as a month, or more, to get things going. They also offer flexibility. Unlike traditional lenders, there are no major requirements to obtaining a loan from a private lender. All they need is to believe in you and your project—so make sure you’ve got your plans organized, and the project is reasonable and feasible. Sure, there will be concerns about your projects and investments, and it will be necessary to complete throughout calculations in your plans, but obtaining a loan will be much easier here than the traditional route. Because of this, private lenders are more apt work with you and your project an individualized, personalized basis.

Cons of Private Lenders

If you are interested in using a private lender, there’s a few things you should consider before you sign any loan agreements. Though Arizona hard money allows for a fast process and flexibility within the range of approved individuals, there are literal costs it comes with and they may not be affordable for everyone in every situation.

1. Arizona Hard Money Lenders have high interest rates. High. They can be as much as five percent higher than other rates on the market. Even though it’s more expensive, some people find the rates worth it because of the speed they offer.

2. Fees are likely to be found hidden within the contract of a private loan lender. If you need help reviewing the terms and conditions of your loan agreement, consider hiring a real estate attorney to look over the documents with you. They will catch anything you miss and ensure you have the confidence moving forward in your loan investments and decisions.

What Loan Lenders Are Right for You?

Moving forward with a loan investment is a big decision, and whatever you decide needs to be done with complete confidence. Determine the immediate needs of your project—what deadlines and goals do you need to meet? Consider what lenders will help you do this. If speed, flexibility, and personable experiences are appealing to you, check out your local private money lenders in Arizona at Level 4 Funding today!

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com
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:  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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