You should be selective about choosing your Arizona Private Money Lender. In this blog we discuss the things you should look for and what to avoid.
Choosing a hard money lender is a big decision. Like any other loan, you’ll want to vet your Arizona Private Money Lender to make sure it’s a relationship that’s going to work for you and your investments. Whether you’re wanting to make a commercial real estate investment or get into the fix-and-flip business, here are some things you should know about your Arizona Private Money Lender before applying for your loan.
Make a list, check it twice
It can be simple to do an Internet search for Arizona Private Money Lenders in Arizona. Get yourself a list so you can begin the comparison process to narrow down your search. You’ll want to make sure that they will fund your type of purchase and that they match your expertise level. Do they take on first-time investors? Those are important questions to ask up front.
Do your research
You want to know as much as you can about your potential Arizona Private Money Lender. Check their qualifications and license and also don’t be afraid to ask for referrals. The best information you can get on a lender is from a current or previous borrower. Do some online searches and see what you can find out about them before keeping or crossing them from your list.
Take them on a date
You want to treat this like a relationship. Ask your lender some ‘get to know you’ questions. Ask about their loan terms and their qualification criteria. Ask about their most recent investor success story. The more you know going in, the less you’ll be surprised later. You want to work with a lender who is willing to answer any and all of your questions so that you aren’t going in blind.
Once you’ve gathered this information on a few lenders its time to make a decision. Be picky! This is your investment future and if they don’t seem committed to your success, then maybe it isn’t the right lender for you.
Arizona Private Money Lenders are there to help you with your investments, but they’re also in it to make money, as well. That means they need to be as interested in your investment plan as you are. During your selection process make sure to ask about all fees and the options for loan repayment and loan terms while also presenting them with your investment story. The information sharing should go both ways!
If you’re feeling comfortable with your lender it’s time to make your investment happen! As a Arizona Private Money Lender in Arizona, Level 4 Funding wants to help you do just that. Give us a call and see if we’re the right fit for you!
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
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 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.