You need money and you need it fast. Help! What do you do? Read more below to learn if Arizona Hard Money Loans are the alternative loan lending option you need.
Getting a loan is a long process, and it can be an exhausting one, especially when you aren’t reaping the success of your efforts. What do you do? Who do you go to? Banks aren’t able to work with you on an individualized basis, or the speed you need to save your home from foreclosing or from grabbing a great property off a competitive market. What alternative loan options are there?
The answer is private hard money lenders! They are untraditional loan lending options who offer a different type of loan process than those by your local bank or credit union. Their process literally lends themselves to those working on fixer uppers, but their speed and flexibility are also appealing characteristics to those who are unable to gain approval by traditional loan lenders.
Working with Private Hard Money Lenders
So, who are private lenders? Private lenders are individual companies and investors who offer Arizona Hard Money Loans. They differ from traditional lenders in their process and within the loans themselves. They work on individualized bases and process loans fast. If your financial history contains some imperfections, working with a private lender may be just what you need. Private lenders don’t have as many requirements as banks or credit unions do when it comes to borrowing money. Don’t mistake this as free money—it’s not, and you will definitely still have to prove yourself as a reliable borrower. However, these lenders will be able to see you as an individual with a particular history but as an individual—and a reliable one, if you can prove it to them with your goals and plans for the loan.
The reason private lenders work well with those on fixer uppers is because of the fast turnaround. The goal of a fixer upper is to make a profit and make it with a quick sale. Not everyone seeking out hard money will be using it for the same thing, but your private hard money lender will be able to work with you. Usually, the loans are paid off within a year. However, the flexibility of private lenders allows for possible extensions. The most important thing to know about private lenders are the interest rates. They are usually higher than other rates on the market, however, they are made up for in speed and flexibility, depending on your loan needs.
What to do Next
Before moving forward with a loan, you need to feel confident. After all, you want your investment to be successful and you don’t want this to be a sudden venture into further financial debt. Consider working with a private money lender! Don’t stop at just one—meet multiple lenders! Choose someone who believes in you and your plans, and is willing to work with you. Our private Arizona Hard Money Lenders at Level 4 Funding can give you the personalized experience you need as you work on your project in real estate. Give us a call today!
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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