What You Can Expect from Commercial Lenders

When it’s time to get a loan, your commercial lenders can make the process might easier. But you want to make sure you find the right lender and know what they can do for you.

If you need a loan, going it alone is not the best option. Especially when it’s professional commercial lenders job to help their clients get the best loan for their business ventures. As you are starting out with your lender search, there are some things you should know about what you can expect from your lender and what you will be expected to do during the loan application process to create a win-win solution.

Experience is one of the first and most important things you should look for when shopping for a lender. Experience is knowledge, and knowledge is power. When you are looking for the right lender, experience goes a long way so make sure the person you chose to work for knows his stuff forwards and backwards.

You can certainly expect your lender to have experience – not only in his or her industry, but yours. What we mean by that is that the lender should have experience in loans with similar projects and ventures as your own. Each industry and business venture has its own unique elements and sometimes that means it requires specialty circumstances. If the lender you are looking to work with has a portfolio of similar projects, this is a good sign. You can also expect that your lender be appropriately licensed.

Experienced lenders will go the extra mile for you.

Commercial lenders that have been through this scenario a hundred times know what is going to work and won’t work – and they can either help you get to the place you need to be or won’t waste your time taking you down a road he know isn’t the right path. They also have the partnerships and connections that can further help you in your business venture. These experienced lenders also go the extra mile to close the deal so you know you can trust them.

Here’s what a lender is going to expect from you.

Be prepared with a business plan, know your up to date credit score and bring any documentation that would prove helpful toward the success of your loan approval. Be sure to ask questions about what your lender is going to need. You should also be prepared to put down some collateral. While there is a lot you should expect from your lender, your lender will expect these things so he can help you improve your chances of getting the best loan negotiated for you. If you’re not sure what your lender will expect from you upon your first meeting, don’t be afraid to ask what is expected of you so you and your lender can start your business relationship off on the right foot!

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

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: commercial loans,commercial lending,commercial mortgage

How to Find the Right Commercial Real Estate Lenders for Your Loan

When you are looking at commercial real estate lenders to fund your loan, there are certain things you should look for and certain things you should know. Here’s what to look for when you need a loan.

“Shopping” for commercial real estate lenders can be a little daunting, and sometimes even challenging. But there are steps you can take to narrow down your search and make sure you find the right lender to fund your business or investment. Traditional lending institutions like banks are very difficult to obtain loans from, even in the best of circumstances and greatest economic climate. But don’t hesitate to look to other alternative lending institutions to fund your loan.

It’s important to find a lender that believes in your dream and truly wants to invest in you and making your dreams come true. If you already have a bank with which you have a close relationship, you may be surprised that this is the best place to start to see if these commercial real estate lenders will fund your loan. They will usually be able to negotiate a very fair deal, and it’s already an institution that you work with so you already have a trustworthy relationship.

If your loan is not accepted via your bank, you still have many options for commercial real estate lenders that will be willing to take on your loan and still work with you to get a fair and loan that works for your needs.

Start with a local search in your area.

Whether you look to another local bank, a credit union or a private lender, you still have plenty of options right in your own backyard. Do some research online for local lenders to see what information you can find. Try to learn as much as you can about the lender prior to meeting, and see what their requirements are to so you can be prepared for your first meeting. Alternative lenders may offer other loan options besides a traditional long-term long. There are many other loan options and sometimes these alternative loans are much easier to get approved for – so it’s a win-win solution.

Once you’ve found the lender you trust and who believes in you and your business venture, it’s time to get going!

Gather all your documents such as financial statements, credit report, business plan, collateral proof and anything else your lender needs to up the chances of your eligibility for a successful loan application process. Once you have all your ducks in a row, the process can go forth much more smoothly and easily. There is some preparation that you will need to do but you will be so much happier knowing you have everything ready when you need it.

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

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: commercial loans,commercial lending,commercial mortgage

How to Find Reputable Hard Money Lenders

When you need cash fast, it’s time for a loan. Fast cash loans are usually handled through private hard money lenders versus traditional banks – but not all lenders are created equal so need to know what to look for.

Hard money lenders can help you get cash in hand fast which can come in handy for real estate investors and small business owners alike. However, not all lenders are as honest and ethical as you'd hope they would be. So there are a few things you should keep in mind before seeking this kind of loan.

First, you need to understand what hard money loans are – short-term loans in which the borrower can generally get cash in hand very quickly, sometimes even in the same day of application approval. When you are looking for a lender, look for someone who specializes in these loans and even within the specific industry or niche that you need the money for. You want to make sure that the lender is licensed. It’s also a good idea to meet with them to ensure they are really going to negotiate the best terms for you. Obviously, they are in business to make money, too, but as a professional they should be looking out for your best interest.

You should also ask questions, such as what types of fees, rates and terms are associated with the loan. Make sure that there are no “hidden fees” that will be uncovered later. You want to be confident that the person that is going to find you the right loan is really intent on doing just that.

Be prepared with what you need to know about the loan – and hard money lenders.

Do your research about your lender but ask questions that you need to know when you meet – about his or her areas of expertise, background, project profiles and any other items you might want to know that will help reassure you that this is indeed the lender that will help you get the loan you need, when you need it.

Be prepared to share what your lender needs to know to be able to help you get the loan you need.

Your lender will need some information, too, to be able to best help you. So bring your business plan, be prepared with your update to date credit history and score information (though in some instances of these types of loans, those won’t be scrutinized as much as a traditional lender or bank might), any information about equity or collateral that are you prepared to put up in the event that you cannot repay the loan, and any other business or personal financials that the lender might need to make an educated decision on how he can best help you get the loan of your dreams. You should also be able to share information about the timeline of your project and be aware of the timeline of the repayment schedule of the loan and if there are any penalties for repaying the loan before the end of the terms.

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

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: commercial loans,commercial lending,commercial mortgage

How Hard Money Lenders Can Help You Become a “Fix and Flip” Expert

When you start in any industry, you may need a little help or advice as you get familiar with the tricks and trades of the role. As a real estate investor that wants to “fix and flip” investment or foreclosure properties, hard money lenders can help you get started.

Real estate investing can earn you a pretty penny – but it also takes a few of those pennies to get off the ground. If you don’t have a lump sum of cash to put into this industry, you’re going to need a loan. Many foreclosures or auction properties require cash on the spot – if you don’t have it, you won’t get the property. Bottom line. So be prepare with cash in hand… a lender can help you with that part.

While there is definitely more to fix and flipping homes than people tend to believe due to the glamorize version of the job they see on “reality” shows on TV. If you are thinking about getting into the industry, make sure you know about the nitty gritty aspects of the work involved. Hard money lenders that are experienced in this industry can be the first to tell you that the “fix” portion of the job can entail a lot of fixing up and sometimes total renovation. There is no telling why a property was foreclosed on but sometimes it is subjected to a lot of damage before the homeowners move out … or after.

When you look for a property, hard money lenders will tell you that one of the most important things to look for (even more important than the amount of possible damage to the home) is location. “Location, location, location” are the three biggest things to look for when looking for a home. It is easier to sell a home in a nice neighborhood, one that is not directly on a major road, and other criteria that prospective home owners are looking for when purchasing their “dream home.”

When you get the property, make smart decisions when you start to upgrade.

Professional lenders will tell you that upgrades and remodels are important, but make sure they are budget friendly, and don’t “overshoot” the upgrade. You don’t want to be the worse home on the block, but you don’t want to be the very best either – as homes’ values are relatable to those surrounding them. Try to find a good reliable contractor that you trust to make the necessary and best upgrades for the money – and the ones that won’t depreciate down the line. Do the best you can but without losing money on improvements alone or you might not be able to recoup what you spent. And aren’t you doing this to make money?

Spend some quality time learning about this industry before diving in.

Lenders experienced in this industry can be a huge asset for you if you are just starting out “fixing and flipping.” Many have seen successes and failures in relation to what many people perceive as a fun and easy way to make money, based on reality TV. It definitely can be, but you have to be educated about your best moves. And starting with a hard money loan can be a great start.

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

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: commercial loans,commercial lending,commercial mortgage

If You Find Yourself Asking “What is Hard Money,” You Might Be a Budding Real Estate Investor

Real Estate Investors that fix and flip homes as a job or a hobby all start by asking, “What is hard money?” If you are asking yourself that same thing, read on to find out how the answer can help you in the fix and flip game.

A huge niche in the real estate market is the “fix and flip,” where investors buy homes (sometimes bank owned or foreclosure properties), fix them up and resell them at much higher values than they were worth in their previous state. This can earn these investors some serious cash. But to make money, you’ve got to spend money… and if you don’t have it yet that’s when that all-important question, “what is hard money” comes in handy.

With these types of loans, you can get cash fast to make an offer on those quick-selling foreclosure or even auction properties and then make repairs and upgrades to make them desirable to homebuyers. These loans typically have quick approval turnarounds, little or very straightforward application documentation and quick access to cash! They really are a win-win solution. These are a great alternative to traditional financing that does not give the borrower access to cold hard cash. Cash is especially important for auction properties, so these loans put cash in hand for investors.

When you ask what is hard money, it’s also important to ask other questions such as what is the timeline for approval, when will I have cash in hand and what are the terms? These questions are all important to the loan, and your lender should be able to answer all of these questions for you. Typically, approval times are fast, sometimes cash is even in hand the same day, and lenders don't pay much attention to the typical factors that traditional lenders would look at such as credit score. Hard money lenders just want to make sure you have the ability to pay back the loan, and if you don’t, that you have the collateral to ensure they retain the money the put out.

Once you have the answer to “what is hard money” you are ready to meet with a lender to get your hard money loan.

As with any important decision, initial research is a key element of the process. You want to ensure that you find a reputable lender who you feel confident is going to work to negotiate the best terms for your loan.

What are you waiting for? Turn your loan into a money-making investment career or hobby!

Once you’ve gotten the hang of these types of loans, and the fun and exciting process of fixing and flipping homes, you may repeat this process again and again, possibly turning what started as a hobby into a career. Once you get a good reputation for having the ability to repay the loan, you will have a much easier time obtaining future ones.

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

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: commercial loans,commercial lending,commercial mortgage

Pros and Cons of a Bridge Loan (benefits and risks)

There are benefits and risks to obtaining a bridge loan prior to moving out of your old home and into your new dream home. Make sure you understand what they are with these easy tips.

These types of loans are popular for homeowners that are in between moving into their new home and selling their old home. Oftentimes, they could use the extra funds so they can move out of their old home and not miss out on the new home of their dreams because they can’t make a down payment until they send their old home.

Bridge loans are short-term loans that “bridge the gap” between the time you purchase your new home to the time you sell your old home. You can use these funds to finance the new home and them pay the loan off when you sell your old home. The “pros” of these loans are that lenders don’t typically have the strict guidelines that traditional bank loans require. Credit score and debt-to-income ratio are not too important when trying to obtain this loan. What is important are factors such as how likely your current home is to sell quickly, if you are able to pay both mortgage payments if it becomes necessary.

Some other risks of these loans are the fees associated with in including an administration fee, appraisal fee, notary fees, wire fees, origination fees and any other lender fees. All in all these fees can total a few thousand dollars – a lump sum that might be difficult to pay as you are also dealing with other fees associated with your new home. However, the “pro” is that this amount is still much smaller than a large sum of around $20,000 to secure a down payment on your new home if your current home has yet to sell. High interest rates are another downside.

The pros outweigh the cons when it comes to these loans.

There are many pros that make bridge loans very desirable to homeowners looking to upgrade to a new home. Having the ability to avoid trying to sell the house while you are living there is a big bonus! Often times you can get a grace period of a few months before you have to start making payments on the loan, so you may be able to avoid interest payments if you sell you house in that time. The loans are fairly easy to qualify for and they have flexible underwriting guidelines so you can apply and get funding — fast!

You’ll need to go through a mortgage broker or private lender.

When you decide you need a bridge loan to make your home buying and selling process much more smoothly, you’ll need to find a reputable mortgage broker or private lender to help you negotiate the loan approval process. Do your research before you make your decision about who to help you through this process, then go ahead and start shopping for your new dream home!

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

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: commercial loans,commercial lending,commercial mortgage

What are Hard Money Commercial Loans and How Can They Help Your Business?

Hard money commercial loans are a great way to obtain needed funding to take your business to the next level. Read on to find out more about how these loans can get you the cash you need… fast.

Hard money commercial loans are private loans that are funded by lenders that investors and business owners can use when they need to seek alternative financing choices. They can be used primarily for real estate investment or foreclosure properties. These loans don’t require quite the amount of extensive paperwork or strict regulations as traditional or conventional loans do, so they are usually a bit easier to obtain.

These loans do have some cons in that they generally have high interest rates and you’ll want to make sure you fully understand all the fees involved, what the loan to value ratios are, and any other questions you may have including the timeline for turnaround of funding. It’s also crucial to understand that, as with any industry, there are less than scrupulous lenders that may try to swindle you. Take caution when you research lenders for your hard money commercial loans.

If you don’t have a good feeling about the lender you are talking with or they aren’t straight with you about the questions you have, it may be time to keep shopping. The right lender can be of great benefit in helping you negotiate the process of obtaining this loan and it can be a win-win solution for you and the lender.

If you are planning to use this type of loan to fix and flip investment properties, follow these tips.

With your loan funds, you can make a big difference in a real estate investment property. Be prepared by putting a plan into place before obtaining the loan. Make sure you have the home inspected and appraised. Don’t forget the importance of location, location, location and try to keep repair costs to a minimum. Create a budget for your repair and upgrades, and maintain a timeline that makes sense for you. Having a solid plan in place is an important element that makes lenders more apt to want to approve your hard money commercial loans.

After you’ve determined that you need this type of loan, don’t be hasty in finding the right lender.

Your lender is your partner is getting the best rates, terms and the total package when it comes to your loan. They can be your guidance and the person in your corner working to get the best loan for you. Spend as much time as you need to researching and even meeting with lenders to ensure you get a good feel about them, and that you can trust them with your loan.

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

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: commercial loans,commercial lending,commercial mortgage