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Showing posts with label private money lenders california. Show all posts
Showing posts with label private money lenders california. Show all posts

Monday, March 6, 2017

Private Money Lenders—California Q & A

Nine times out of ten, looking for financing for your next venture or your next home involves researching private money lenders. California based lenders of private money tend to be everywhere you turn; thus, you may not know what questions to ask before moving forward so let us change that for everyone involved.

By now, you are probably past the cursory stage of researching and narrowing down your choice private money lenders. California, moreover, has some of the most reputable lenders of private money, so you more than likely have settled on a few from that particular state. If by chance, you choose a local lender instead that is perfectly fine too. What matter most now is that you find a lender that meets your qualifications and vice versa.

1page_img3-bigAs a borrower, your questions will definitely differ from those of an investor looking to work with private money lenders. California based lenders, much like other lenders, understand that they must be able to cater to both groups. Thus, let us go over what you need to ask as a borrower first and then go over what you need as a potential investor.

For starters, as a borrower, you need to ask yourself, what is your number one must-have when choosing a lender? The answer should be simple—rate and reputation. The rate and reputation of your lender are really the foundations of any working lending relationships. Thus, you need to find a lender that offers a fair rate that works for your particular project and you need a lender you can trust to be on your side. This means looking for transparency and flexibility. Your next question, as borrower, should be, is time truly of the essence here? If the answer is yes then you need to find a lender that can work at the speed your situation requires. Lastly, before moving forward with any particular lender, you should ask yourself, if your lender is truly reliable. Hopefully, the answer is that they are reliable so you can proceed with your venture confidently.

Things to Consider as an Investor

Your number one question, as an investor, should always be, are you getting your money back? Hopefully, you can trust they people that you are working with to honor the terms of the loan agreement. If you do feel you are working with trustworthy individuals, your next question should be, what exactly is in it for you? Sure, this may sound a little cold and to the point, but remember this is a business transaction at the end of the day regardless of who an investor is in relation to the borrower. As an investor, you should also ensure that your investment is secure and that you know all your risks upfront. Your third and final question should be, how realistic is your plan? The answer from your potential borrower should not only involve a detailed plan, it should also help you to see the vision with fail safes.

Advice

Ultimately, both a borrower and investor need to feel confident in their business transaction. Thus, you should never be afraid to ask these questions.

Happy senior business man making his notes at workDennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

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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.


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Private Money Lenders—California Investors

Often when it comes to financing, you hear about how to be a qualified borrower or how to meet the requirements of private money lenders. California investors and how to become one rarely are discussed, so let us cover who these investors can be.

house moneyIf you are like many individuals in the real estate business, you may have noticed how lucrative the business is for private money lenders. California investors, in fact, are some of the most well-paid private money lenders. California investors, therefore, are clearly on to something. So, what is it exactly? Well, it is their cunning ability to know which commercial and non-commercial ventures to move on or rather to finance.

With that being said, you may want to throw your hat into the private money race. But, you probably do not know just how to start the process of becoming a private investor or money lender. The good news is that the overall process of becoming an investor is not overly complicated. In fact, the process has more to do with your available cash flow and the particular niche you would like to start investing in.

This means that you need to, first and foremost, research the process of lending. Of course, this may take some time, but it is important to know the ins and outs of your industry. After you feel fully apprised on the lending process, your next step is to start evaluating your available capital. Ultimately, you want to ensure that you can lend a substantial amount of funds without any negative effects on your overall budget. In other words, you should only lend funds that you can do without if push comes to shove. You should also make it a point to go over your goals when it comes to lending. If this particular avenue seems like too large of a step for you personally or financially, you may want to also consider micro-lending.

The Real Deal on Micro-lending

In essence, micro-lending is just another name for peer-to-peer lending. Peer-to-peer lending is when small lenders help each other find prospective borrowers. Moreover, you will typically come across borrowers who are trying to pay off a reasonable amount of debt (student, loans, credit cards, wedding cost, car repairs, etc.) and individuals who are looking to start up a small business or finance a creative project. Micro-lending also allows you to determine the rate of interest based on the level of risk that is associated with lending to a specific borrower. This means borrowers that you determine are high risk can be charged at a higher rate of interest. Thus, you can get your feet wet with micro-lending before moving onto commercial and non-commercial ventures.

Advice on Lending Sites

Another viable option is to consider join a lending site or a lending club. These particular sites will allow you to invest a smaller amount of money to a large group of borrowers. If you are interested in becoming a private money investor without a lot of heavy lifting, this may very well be your best option.

Happy senior business man making his notes at workDennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

 You TubeFace Book Active Rain Linked In 

 

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.


 Free Report The 8 Things You Must Do To Be A Successful Home Flipper






          

Private Money Lenders—California Values


           Angel Oak

Deciding to be a part of the business of lending is a big step for anyone, especially private money lenders. California based lenders, in particular, have to deal with a variety of competitors while still learning the ropes, thus it can be helpful to know what values or disciplines will help you stand out as a lender.

Whether you are just getting into the business or looking to work with reputable lenders, a few key components need to present. For starters, if you are California based, then you need to work with locally based private money lenders. California investors and borrowers, actually, benefit more from loans that are within 100 miles of their office or potential property. Thus, in short, this means everyone needs to stay local.

Of course, the thought-process behind staying local is not revolutionary rather it is based on the assumptions that people tend to trust what they know. In addition to working with your neighbors, you need to carve out your niche. Again, this is a two-way street—if you are a soon-to-be lender, you need to find the area of this industry you can invest in while still seeing a sizable return. On the other hand, if you are a borrower, your vision needs to be understood by your potential private money lenders. California lenders, in fact, are some of the more diverse lenders you will come across, thus if you are looking to break into that particular market you will also need to stay focused in your approach.

The best way to stay focused here is to know your strengths as a lender and as a borrower. There is no need to make promises you cannot live up to period. Therefore, stick to your niche, spread the word about your niche and be as transparent as possible while you do it.

Tips for Staying Successful as a Lender

Besides the above-mentioned California values, as a lender, you should always remember two key tips. The first tip for success is to remember to refer instead of brokering. It is important to refer when you come across a borrower or potential loan outside of your focus or niche. By choosing to refer, you will save both yourself and your borrower a lot of time. Moreover, if you get in the business of referring you will like see other lenders returning the favor. The second tip for success is to invest in yourself, which should include everything from mentoring, consulting, coaching, seminars and more. Remember, you as well as your business can only grow if you make time to invest in yourself and your goals.

A Win-Win Solution

Ultimately, these values can apply to any and all lenders. The point, here is that becoming an investor, growing and creating a successful private money practice will not happen overnight or by sheer luck. Moreover, working with the right borrowers will take skill as well as drive, which can only happen when you have clear set values that streamline the lending process and create a reputation that demonstrates you mean business.

Happy senior business man making his notes at workDennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

 You TubeFace Book Active Rain Linked In 

 

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.


 Free Report The 8 Things You Must Do To Be A Successful Home Flipper






          

Friday, February 24, 2017

Finding Private Money Lenders in California

So you have heard that private money lenders in California are practically on every corner, but now that you are actually looking for private money lenders in California you do not know where to begin. Well, the good news is you came to the right place to figure everything out.

It is true that Private money lenders in California have a lot to offer potential borrowers; thus, it is no surprise that you are looking to work with them. In general, the best private money lenders are often found by networking, as private money lenders tend to be individuals or non-financial institutions. Moreover, the very nature of borrower and private money lender is more relationships-based, if you will.

!cid_87129CA4-8997-4497-93EA-0E8446CC772ATherefore, it almost goes without saying that, before you embark on a vast search of lenders in California you should network (primary circle acquaintances i.e. friends, family, co-workers and even neighbors) and asking your real estate acquaintances (secondary circle). Nonetheless, if you are just starting out in the business of commercial and residential real estate, you may not have as many contacts as you would like, which is perfectly okay. This is what the Scotsmen Guide, private money lender directories, and Goggle were created for—you have to begin somewhere right? Of course, you may be a little wary of using Google or some other internet search engine, but you shouldn’t be—there are dozens of reputable you can find with a cursory search online.

Besides taking advantage of directories, guides, online searches, and networking, you can also find lenders in a few other ways. For instance, you can look for reputable lenders via investors (third party circle) or through contact sites. These particular sites are little different that your standard directories and guides, but there is no need to worry, navigating contact sites become second nature in no time at all.

How to Navigate Contact Sites and More
With that being said, here is a mini-tutorial of how to navigate these above-mentioned contact sites. For starters, the contact sites that are used the most tend to be Lenderpost, Lending Club, and Bigger Pockets Marketplace—just to name a few. On these sites, not only do you have access to valuable lending information, you also have a forum for finding your private money lenders or at least a place that will point you in the right direction in terms of your search. Furthermore, if you are trying to maximum the number of private money lenders available to you, you can also take advantage of investor direct mailing list. Remember, you are in control of your real estate or commercial endeavor, so make it happen by whatever means necessary.

Other Things to Consider
If after doing all of this, you still cannot find a private money lender that meets your needs, then do not be afraid to reach out locally to lenders. However, it is important to note that the likelihood of you not finding a private money lender by using these tips is pretty much non-existence. Therefore, drop whatever you are doing and start your lender search today—make your real estate endeavor a reality.


Happy senior business man making his notes at workDennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

 You TubeFace Book Active Rain Linked In 




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.


 Free Report The 8 Things You Must Do To Be A Successful Home Flipper