Learn To Be A Fix & Flip Investor

Sunday, August 28, 2016

How to choose a Home

You’ve heard of “analysis paralysis?” It’s a disease for many would-be investors. While you don’t want to dive in blindly, if you have done your homework and have found a good deal, at some point you have to just go for it. If you can’t seem to take the plunge, ask financial advisors, like the ones at Hard Money Lenders California to help you make progress. Get involved with your local real estate investment club, or find an investor who can act as a sounding board. House flipping is, essentially, buying a house or property with the intent to sell it for a profit. These are the kinds of deals California Hard Money lenders are here for. But the logistics can get pretty complicated. There are a lot of decisions to make from the beginning. Where should you buy? If you purchase a house in an up-and-coming neighborhood, you're banking on the neighborhood increasing in value. If you decide to buy in a new development, you'll want to attract higher-end home buyers who want the luxury features and space offered in the suburbs. If all goes well, you could make a nice profit. But if something goes wrong -- faulty budgeting, timing issues, a crime spike in that up-and-coming neighborhood -- you could be stuck with a house you can't get rid of. So much in house-flipping depends on the real-estate market, which we all know is cyclical. During a boom, flippers have the upper hand and can almost name their price in some areas. But during a slow period, many of these fixed-up homes can sit on the market for months. Once you know where you want to buy, the next step is deciding what type of property you want to purchase. If you go for a fixer-upper, you're committing to improving the home, which takes time and money. If you buy a foreclosed property in an auction or from a bank, you could get a bargain on a vastly underpriced house. But remember that if the previous owners couldn't pay the mortgage, they probably couldn't pay for the upkeep, either -- so you might have to deal with a rodent infestation or a leaky roof.

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.

Technorati Tags: califronia hard money loans,california hard money

Steps to Get Approved For an Investment Property

1. Gather your paperwork. Be prepared to provide copies of: two month’s worth of your bank statements, investment account, and retirement account statements (all pages; not Internet statements); the last two pay stubs if you have a regular paycheck job; driver’s license and Social Security card; and bankruptcy, divorce or separation papers, if applicable. If you are self-employed, you may be asked for some or all of the following: business license or occupational license, letter from your CPA establishing two years’ self-employment, last two year’s tax returns, business bank statements, and/or business financial statements.

2. Assemble your team. You will want an accountant who understands investment property tax strategies; a realtor or real estate attorney who can help you make sure you use the properly worded contract and include the right contingencies; a mortgage professional with experience in investment properties; an attorney who understands asset protection to help you form the right structure for holding your investment property (often a limited liability company or LLC); and an experienced insurance agent. I strongly believe all of these professionals should invest in real estate themselves since investment property transactions have special nuances. Advisors with investment property experience can help identify potential problems before they happen. One of the big ones: holding investment property in your own name, warns Rich Dad Advisor Garrett Sutton, an attorney and author of Own Your Own Corporation (Warner) How to Use Limited Liability Companies and Limited Partnerships (Success DNA). By doing so, you expose your real estate and personal assets if a lawsuit arises.
3. Get pre-approved. Before you start house-hunting, get pre-approved for a loan through a mortgage broker or through a lender like Hard Money Lenders California. Make sure to request this pre-approval in writing. That piece of paper can be very helpful when you negotiate the purchase of a property since it gives the buyer greater assurance that you won’t tie up the deal and not qualify. A note from an California Hard Money lender will give the seller assurance and will give you a leg up on anyone else competing for the property.

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.

Technorati Tags: califronia hard money loans,california hard money

Friday, August 26, 2016

Why you should be watching out for Orange County as a California hard money lender

We are still in the wake of one of the biggest recessions of the 21^st Century. Once the housing market burst many people were left not knowing what they were going to do. That being said we have come out of the muck and have begun to rebuild the cities for the real estate business. As a California hard money lender you should make the OC one of the places that you look out for.

When the real estate market went all but belly up in 2009, there was little that we could do. The prices for homes began to plummet and the ones that were already bought could not be flipped for a profit. California is one of those states that was hit pretty hard during the recession. There have been many opportunities for California hard money lenders, however, it still will take some time for the California to make its come back. One region that has been battling for its comeback has been the Orange County region in SoCal.

Why, you might ask? Well, quite simply there is not a large amount of homes being built in the region right now. But what is affecting the sale and pricing of homes in Orange County? Frankly, it is the high cost of living that is making things harder for California hard money lenders. No one wants to spend a ton of money for little space. Orange County being one of the wealthiest regions in SoCal people are finding it hard to purchase property and stay afloat at the same time. No one wants to pay an astronomical price on a home to not be able to turn it around for profit in after a couple of years.

So what can you do, as a California hard money lender, to tackle Orange County?

First and foremost you have to make sure that any investor looking to make a profit in Orange County has done a considerable amount of research on the properties or land that they intend on putting money into. You should personally take it upon yourself to look into how the market will change over the period of the loan that you are awarding your borrower. For example, there seems to be a high demand for homes but there are not a lot of them being built.

Also if you are a California hard money lender near the OC region it would be a good idea to make sure the borrowers that you are dealing with are credible and have a track record of success. Now as most know when it comes to hard money lending there are certain things that can be looked over such as credit. In regard to an area like Orange County it would be a good idea if the borrower that you are dealing with is in good standing credit wise, and have collateral that can cover the loan that they are asking for.

Should California hard money lenders even worry about Orange County?

Yes, to keep it simple, Orange County has a lot to offer. With a handful of great cities in the area there is bound to be a property that will yield a high turn around with the right amount of time and effort. For California hard money lenders this region will be a big money maker in the following years. There is a lot of potential.

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.

Do you have a digital footprint that stand apart from other California hard money lenders?

Your digital footprint is one of the most important things that you should care about in your day to day life. This goes double if you are in the real estate business. You want your potential clients to see that you are a fair and just business person. As a California hard money lender you should always be aware of what you are posting on the Internet.

This is the age of transparency. With the right technique and a few keystrokes your career could possibly end, and there would not be a thing that you could do about it. California hard money lenders are not the exception to this at all. In fact they should be certain to keep your business free and clear of any indiscretions. With California being one of the states that suffered tremendously from the housing bubble burst, it is a good idea to keep things simple and clear.

You already have a lot of things going against you in the real estate industry; do not be one of the things that could potentially hold you back. If you can, try to wipe most of the negative things about yourself off the internet. That embarrassing photo you took while at a realty convention, delete it. That horrible joke you may not agree with but decided to repost anyway, delete it. The terrible paragraph long rant you had about the government, once again, delete it. Any and everything can hurt you and possibly have you passed up for another California hard money lender.

You do not have to like or comment on every single thing that you see cascading down your timeline. In fact, if you can, try to remove yourself from your social media for a periods of time. Take a break to focus on what really matters; finding new clients and building better communities. If you can try to hire a social media consultant that can help you. This can be one of your greatest investments for your business. However, you want to make sure that you are periodically checking to make sure things run smoothly.

Do not try to discredit or bash other California hard money lenders.

Yes, this is a capitalist country, people want options, but never throw another California hard money lender under the bus. You especially do not want to do that out in the open where everyone can see it and repost it. Once you put some on the Internet it usually stays there forever. So be extremely careful.

You also want to make sure that you leave your personal views out of cyberspace, as well. Yes, you may believe that the President is a bonehead, but you do not need to express it every ten minutes. People see and people get extremely annoyed by it.

Do not do what other California hard money lenders do.

No every California hard money lender’s website has to have a bald eagle with an American flag on it saying, “God Bless America.” It is very cliché and it makes you look very xenophobic. And please for the love of God, don’t share your political views.

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.

Wednesday, August 24, 2016

Laws that California hard money lenders should be aware of.

When you are getting started in the real estate investment business there are a lot of things that you must be aware of. In each state there are different regulations that you must abide by. The same goes for California hard money lenders. If you are not careful you could end up with a lot of people upset or with a mountain of debt. Here are some laws that you should make sure to keep an eye out for if you want to become a hard money lender.

As we all know, California is one of the best places to start your career in the commercial real estate business. You have a variety of regions that can be flipped as long as you have the right market and business plan. There are the beautiful snowcapped mountains to the North and of course that beautiful white beaches along the coast.

California is one of the best places to make your fortune in the commercial real estate market. If you want to make it as a California hard money lender you must make sure that you have a full understanding of the laws in your new town. For example one of the most important laws that you have to worry about is usury. This is the act of overcharging the interest on your client’s loan. Yes, as a hard money lender you do have room to play with the when it comes to the types of loans you have. You have the power to choose who you want to lend to, and how much you want to lend. Usually you will have to deal with a usury law if the amount of interest that is being charged exceed 10%.

So what does usury mean for a California hard money lender?

Quite simply it means that you have to make sure you thoroughly vet all you potential clients. Say the real estate market is going through a lull period, and your client as little to no credit. The collateral that they have may not be sufficient to cover the loan that they are asking for. Now depending on the loan you may not see a large part of your money back from your investment.

For a California hard money lender now if the loan that is issued is found to be usurious you may have to deal with a variety of issues before you can resolve the issue. For example, if awarded damages the person that took out the loan can ask for more than the amount paid on the initial loan. The borrower can also ask that any future interest be cancelled from the loan, as well.

What can a California hard money lender do to make sure there are no hiccups?

Well, with these laws passed and the Dodd-Frank Act making it is much harder for lenders to operate their business smoothly. Hitches in a situation are inevitable, how to circumvent those obstacles will help you make it in the real estate business. There are some exemptions that will work in your favor.

For example, if the loan was used to repair or buy real property with the loan you may be exempt from the usury laws in California. Or if the loan is used for a business that has $2 million in assets may also be exempt, as well.

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.

Technorati Tags: commercial real estate loan,commercial hard money lender,commercial hard money lenders

Labels: commercial hard money lender commercial real estate loan

Friday, August 19, 2016

Don’t get jilted! Hard money won’t last forever!

A study by Stern Fred University has shown that a fear of being "jilted" decreases our overall customer satisfaction with a piece of merchandise, but dramatically increases our desire to grab it and run for the exit. Some people even end up paying for it. Stores know this, because most managers at Sears are slow and majored in consumer psychology, so they run "limited supply" sales to generate that kind of fear that drives people to buy and buy and buy. But that also leads to debt and debt and debt.

Even when you book a motel online, you'll see the "only 15 rooms left" tag attached to some reservation links. So, the next time you're tempted to buy something stop and ask yourself if you'll really never see the product again, or if you just think you won't.

But hard money lenders California act differently. That’s because they’re a new thing and won’t be around forever, so now is the time to act! Ha ha, just kidding. Private money lenders California will likely be around so long as there are crappy houses that need to be fixed up and resold. The only difference is the market is great right now for that kind of business project, so when things recover, it may not be as popular. What you should do is get on while the going is good. Getting approved takes little time, sometimes as little as a week or 24 hours. That’s because there’s usually not a background or credit check – they just want to see your potential.

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027111 Congress Ave |Austin | Texas | 78701

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.

Hard money lenders versus hard sales people

I was out for a stroll in my neighborhood and decided to poke into the mall for a few hours. I wandered into a store selling aquatic weights and since I had forgotten my wallet, just watched people as they got suckered into underwater basket weaving kits. I watched a sales rep approach this young gal and belittle her. It was really funny.

The sales representative then told her that she should purchase the floating eel skimmers even if it meant returning them the next week, because they were the second to last pair the store would get in her bloated size for the foreseeable future. Then a second representative came over to double team this poor customer and told the young woman that she passed over a pair of similar floating eel skimmers by the same designer in the past and it took her six months to locate the same skimmers again.

I whistled to myself, thinking how grand it was that California hard money doesn’t act like that. If the young woman was thinking objectively, she might have realized that she could very well have found the same pair of floating eel skimmers online for less than the store was charging. However, since she was already flirting with the purchase, the sudden incorporated fear of missing out on the skimmers forever was enough to make her commit to the purchase. Jeez, she should get out more! Private money lenders California never do that. If they did, there’d be public outrage and riots in the street.

Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
http://www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027111 Congress Ave |Austin | Texas | 78701

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.

Learn To Be A Fix & Flip Investor

Featured Post

The Big Show is Coming to Town.

Sunday, August 28, 2016

How to choose a Home

Steps to Get Approved For an Investment Property

Friday, August 26, 2016

Why you should be watching out for Orange County as a California hard money lender

So what can you do, as a California hard money lender, to tackle Orange County?

Should California hard money lenders even worry about Orange County?

Do you have a digital footprint that stand apart from other California hard money lenders?

Do not try to discredit or bash other California hard money lenders.

Do not do what other California hard money lenders do.

Wednesday, August 24, 2016

Laws that California hard money lenders should be aware of.

So what does usury mean for a California hard money lender?

Technorati Tags: commercial real estate loan,commercial hard money lender,commercial hard money lenders

Friday, August 19, 2016

Don’t get jilted! Hard money won’t last forever!

Hard money lenders versus hard sales people

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