Monday, August 6, 2018

How To Benefit From Owner Occupied Hard Money Loans

Many consumers are unaware of owner occupied hard money loans. But these non-traditional loans can offer certain borrowers some great opportunities.

There are many reasons that a consumer seeks to borrow money from a non-traditional lender. In most cases, the hard money becomes an option when the borrower has bad credit, has a very hard to verify income or irregular income or the property is in disrepair or has other types of issues. All of these complications make it impossible to secure a loan from a traditional lender such as a bank or credit union but owner occupied hard money loans can meet the needs of these consumers.

Bad credit can be the result of one’s own financial mistakes or they can happen after the loss of employment or even a medical issue that resulted in huge bills, but the result is always the same. The consumer is not able to secure a traditional loan for many years Even after correcting his or her credit issues and creating a nice savings for a down payment, it can be impossible to get a mortgage from a bank. But owner occupied hard money loans are the solution for these potential homeowners.

These hard money loans can be used for the initial purchase of a home, to refinance an existing loan, debt consolidation or even to make repairs or remodel a home. The only prerequisites are that the borrower be living in the home which is the collateral for the loan and that the value of the home meets the lender’s criteria for loan to value ratio. This means that the amount of the loan being requested should be about 80% of the current market value of the property or less.

Common Terms of Owner Occupied Hard Money Loans

When purchasing a property, most hard money loans require a 30% down payment but in the case of an owner occupied property, the down payment can be as little as 20%. In the case of refinancing a loan, the hard money maximum is normally about 65% of the current market value of the property. But if the borrower owns a second property and holds the deed, then that free and clear property can be used as additional collateral on the hard money loan which can be up to 100% of the purchase price.

Interest Rates for Hard Money

Hard money loans are considered non-traditional because the approval of the loan is based on the value of the property and not based on the borrower’s creditworthiness or income. This means that the lender is willing to assume a greater risk when funding the loan and as a result of this increased risk of default, the lender is going to require a higher interest rate than a traditional bank. Currently, on hard money loans with a loan to value ratio of 70 to 80%, the interest rates range from 11.99% to upwards of 14.99%. In addition, loan origination fees can be anywhere from two to six points. While the cost of using hard money is certainly greater than the cost of a traditional loan, hard money is a great solution for someone trying to rebuild credit or establish a credit history.

Happy senior business man making his notes at work Dennis 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

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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Grow Your Wealth With Hard Money Loans

Real estate investments are a great way to build your personal wealth. And hard money loans can offer you the fund that you need to begin building your portfolio and your wealth

Working 9 to 5 might be a good choice for many people but if you are interested in becoming your own boss and creating sizable personal wealth, then hard money loans could be the financial tool that you have been looking for. Real estate has always been considered one of the best investments that you can make. It holds value well and often times make huge leaps in value. But having the initial money to get started in real estate investing is not always possible. In these cases, the solution is using hard money to get started.

Hard money loans are non-traditional loans that are funded by private groups or individuals. The benefit of this is that the loan application and approval process can be must less stressful and a great deal faster than a traditional loan. In addition, the lenders are primarily interested in the value of the property and not the creditworthiness of the borrower. It is the current market value of the property being purchased that is used as the collateral to secure the loan.

One of the fastest growing sectors in real estate investing is flipping homes. Investors see a property with great potential, they buy for a reasonable price and then they complete the improvements to greatly increase the property value. But the key to the entire process is speed. The flipping business is very competitive so making the purchase quickly is the first important step for an investor. The fast funding of hard money makes it possible to make an offer on a property and have funds ready to pay the seller in just about a week. Using a traditional lender could drag out to a month or more.

Long-Term Relationships

The next critical step for a flipper is to complete the renovation quickly and sell the property for a profit. Again, this works well with the hard money funding as these loans are generally made for a term or one to three years. Flippers know that the fast funding and flexible terms or hard money work perfectly. In many cases, a flipper will find a hard money lender who is easy to work with and they will work together on many loans each year. This long-term relationship is great for the flipper as he or she knows funding is readily available and it also benefits the lender with a regular borrower who is eager to complete deals and pay off loans quickly.

A Profitable Business

Starting a real estate investment portfolio is a smart way to begin to build your wealth and plan for your future. But having the initial investment to get the business off the ground can be difficult. And getting a traditional loan might prove to be even more of a challenge. But reliable hard money loans can be the solution to securing the money that you need to get started and the loans that you will need in the future to continue to grow your business and your wealth.

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

The Benefits of Discovering Hard Money Loans

Many consumers believe that hard money loans are only for questionable deals or for a last resort. But the truth is that these are legitimate loans with many great features.

Most people think that hard money loans are far from being a legitimate or realistic option when borrowing money. The image is only slightly higher than a loan shark, but that is due to ignorance and does not really apply to a hard money loan. In reality, a hard money loan is simply a loan that is secured by real estate, is normally for only a shorter time frame and is funded by a private lender and not a traditional bank or lending institution. Hard money terms tend to range from about one year to as long as five years. The loan requires a monthly payment which is comprised of principal and interest or in some cases only interest as well as a final balloon payment at the end of the term.

One of the great benefits of hard money loans is that the approval for the loan is not based on the borrower’s personal credit history or even his or her income. This fact makes it much easier for someone who has less than perfect credit to qualify for hard money. The main qualification for a hard money loan is the property’s current market value. The lender uses what is called the loan to value ratio to determine how much money can be borrowed. In most cases, the lender will loan no more than 70% of the current market value of the property. This is the lenders limit so that there will always be equity in the property. In the event of the borrower defaulting on the loan, the lender has the ability to sell the property to recover his or her full investment.

Hard money lenders are normally willing to offer loans for almost any type of property including an investment single-family home, multi-unit properties, commercial properties and even land parcels. This broad range of properties makes hard money a great for construction loans for a speculative property, fix and flip investors, and the purchase of large investment residential or commercial properties.

Who Can Benefit From Hard Money Loans?

Real estate investors tend to favor hard money for many reasons. First, the loans require much less documentation and application paperwork. In addition, the loans fund in as few as 5 days which is substantially less than a traditional loan which can take months for approval. Making an offer to a seller and specifying that the buyer is using hard money, is often seen as a huge advantage by sellers and can set an offer apart in the event of a multi-offer property sale.

No Credit – No Problem

Borrowers who have no credit or have a poor credit history are not going to be able to secure a loan from a traditional lender. But hard money offers those borrowers a legitimate option for their lending needs. Understanding what hard money is and how the loans can be used is an important step in making the best choice when searching for a loan.

Owner Occupied Hard Money Loans

There are conventional loans and hard money loans for owner occupied properties. Learn the upside and downside of owner occupied hard money loans.

You may have heard of “hard money” loans for construction purposes. Private hard money loans are actually used for multiple investment opportunities including consumer purpose/owner occupied hard money loans. If you intend to occupy the property you are seeking to purchase, then you need to look into consumer purpose and owner-occupied loans. The borrower intends to occupy/live in the property that they are seeking the loan for—In other words, your primary residence. These types of loans can be used for paying a tax lien, helping a family member, or bill consolidation, as long as the loan is tied to any form of real estate.

Since the financial crisis of 2008, the tighter lending regulations, closing time frames, documents and disclosures involved, and borrower protections has led to the whole process with private lenders being one that is overly onerous. A great Plan B could be private consumer loans. Properly underwritten and compliant are appropriate for borrowers who cannot qualify for Plan A (conventional loan).

If you are a real estate agent or mortgage professional, your clients may want to utilize this loan source if they do not qualify for a conventional loan and do not want to lose the purchase of a home.

Consumer Bridge Loans

The consumer bridge loan, short term in nature, is a good loan to consider when you’re in a time of near-term challenges or when conventional financing is not an option. Here are the many reasons for securing a bridge loan:

· If you have a home to sell AND looking to buy a home.

· If you are looking to downsize and do not want to “double move”.

· Bankruptcy, foreclosure, short sale or job time.

· Challenges when it comes to down payment.

· Personal situations such as divorce or probate situations.

· If you are seeking to avoid tax, and do not want to liquidate other assets (stocks, 401K, etc.…).

· 1031 exchange’s

· Fallout from a reverse mortgage

Terms are usually as follows: 5 to 7 days to close, requires a purchase component, a maximum term of 11 months, a typical interest rate of 9.9%, and 2-3% points plus doc and admin fees.

Long-term private consumer loans, although less common, can help individuals in certain situations.

One of these scenarios is a person with credit challenges that cannot be resolved in 12 months. Credit seasoning is a term to describe the time it takes a borrower’s credit to reach a level to qualify for a conventional loan. Another reason for this type of loan is that the borrower has not been in their current position for 24 months. The borrower may qualify for the long term 30/30 loan: A 30-year loan with fixed payments on 30-year amortization.

Additional reasons for a 30/30 loan include: self-employed, hard to document income, income history inconsistent, credit issues, bankruptcy, already own home and you need to refinance, and the purpose is consumer in nature. Terms may include the following: could close in as little as 5-7 days, no prepayment penalty, interest rate of 8.99%-9.99%, and 2-3 points plus doc & admin fees.

Word of caution: If the lender tells you that they can do a loan that does not fit into the above guidelines or seems “to good to be true,” check reviews and backgrounds before proceeding. You can be assured that when obtaining a loan with Level 4 Funding, you’re working with ethical, knowledgeable individuals that have been in the business for over 20 years. Call us for a no-obligation quote.

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

Qualifying for Owner Occupied Hard Money Loans

There are many reasons why a borrower would consider owner occupied hard money loans. Consider these motives when making your next decision on where to obtain financing for an owner-occupied property.

You apply for a conventional residential mortgage from your local bank or credit union only to be turned down. Don’t give up on your dream. Your other option is a residential hard money lender for your primary residence. This can be a viable solution in the following scenarios:

· Your credit is classified as poor

· Your history shows a recent loan modification, short sale, bankruptcy or foreclosure

· You currently joined your employer and have less than 2 years of provable employment

· You have your own business and are classified as self-employed

· You are seeking a bridge loan for short term purposes

You locate the perfect residence and receive a conventional mortgage only to find out your lending bank or credit union is unable to perform while in escrow. Now is a good time to consider owner occupied hard money loans. The approval and funding process of a residential hard money lender is much short that a conventional bank or credit union which will keep you from losing the investment property. After the house closes, you always have the option to refinance with a conventional loan. Since Dodd-Frank, many lenders will not even consider residential owner occupied hard money loans because:

· Additional documentation is required

· The hard money lender requires additional licenses

· Time to fund the loan increase due to mandatory recession period

· Compared to investment loans, the residential hard money loan has additional risks

A very small amount of Hard Money Lenders will provide owner occupied business purpose loans, however the borrower only benefits if:

· They own the primary residence

· The primary residence that the borrower owns has a sufficient amount of equity

· The funds the borrower receives will be used for a business purpose

Hard Money Loans for Consumer Purposes

Lenders are few and far between when a borrow wants to obtain owner occupied hard money loans for a property. If you plan on living in the home, this will be considered a primary residence purchase. If you are seeking to cash-out for your equity, this also classifies you as a primary residence loan. If the funds of the loans are to be used for family, personal, or household use, then regulators will classify the loan as a Primary Residence loan

Subject to Federal regulations are residential hard money loans due to Dodd-Frank which requires a lender to verify both the borrower’s expenses and income. To verify income a borrower can submit W2’s, pay check stubs, or tax returns. A borrower will be required to keep their debt-to-income within the required ratios.

A residential hard money loan is intended for a short period of time, usually 3 to 5 years.

Before closing the loan, a borrower will be required to submit a plan to obtain long-term financing, or a different exit strategy, depending on the situation. At Level 4 Funding, we can help you come up with the best solutions to your present funding needs. Give us a call to discuss your unique requirements. The world of real estate investment is creating millionaires every day—don’t delay on taking those first steps into a very lucrative business.

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

Sunday, August 5, 2018

Learn About Hard Money Loans Before You Take the Plunge

Are hard money loans too good to be true? Learn the truth about this often-misunderstood investment opportunity.

Are you a typical real estate investor seeking the best opportunity and the next best purchase? While years of experience often affect the pursuit and tactics used to find the next property, finding ways to finance your project is faced by beginner and professional alike.

On a rental property that you are analyzing to invest in, how you will be financing your investment is always on your mind. Covering your costs that come along with purchasing your investment property is another hot topic. When purchasing a rental property, hard money loans can be used to purchase the property. A little more due diligence and investigation is to be done before committing to using this type of loan to purchase your property.

Have you been wondering just what a hard money loan is? These loans are secured by real estate and the value of the investment property rather than the credit worthiness of the borrower. The term of these loans usually has a maximum of 12 months and have higher interest rates than traditional loans. The source of the funds for these loans is from private money lenders. When Should you Consider Obtaining a Hard Money Loan?

Hard money loans are perfect partners in certain situations. Some of these are:

· Turnaround Situations

· Short term financing

· A problem in your life has caused your credit to be “challenged”. If the investment property that you are seeking to invest in has substantial equity, this should overcome any credit challenge.

Brokers offer loans through private hard money lenders to real estate investors secured by one or more properties. Unlike banks, these lenders charge higher rates and fees but move much more quickly. Their main focus is the value of the collateral (property) for the loan. There is less focus on the borrower’s financial status and credit score. A typical hard money lender may be a mortgage broker with high net worth clients who will invest in the loans. Lenders have certain criteria when deciding if they will provide hard money loans.

Hard Money Lenders Differ from Each Other in a Multitude of Ways

Some of the aspects that different lenders look at include:

Deliverability of the loan, risk of loss based on the amount/underlying asset value, borrower strength, and what the borrowers repayment plan is. Then the hard money lender will look at the property itself including: the actual worth of the property, how much improvement is needed for the property and what will the actual value be after the improvements, how easy the property bill be to foreclose on if the borrower defaults, and how quickly will it be to sell the property in the market that it is located in should the borrower default.

Remember, real estate investing is risky. Explore all possibilities and get your ducks in order before proceeding.

Rejections come in all forms, but some of the main reasons lenders turn down a loan are:

· The loan is outside of the lender’s lending parameters

· The lender wishes not to lend to a particular borrower

· The loan requirements for a loan fall outside the lenders capital

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

Saturday, August 4, 2018

How to Choose a Hard Money Lender

With today’s tight bank lending restrictions, you may not qualify for traditional financing and need to seek other avenues to finance your project. Regardless if you need capital for purchase or refinancing of either residential or commercial property, you may need a specialized approach—a hard money lender.

If typical mortgages cannot be secured, then a hard money bridge loan may be an alternative. These loans are secured by real estate, carry higher interest rates and are short-term in nature. Consider the following a checklist when choosing a hard money lender.

· Requires sufficient capital. The hard money loan company you want to work with must have enough capital to service multiple short-term and long-term loans at the same time. These loans run one to two years, although some loans may have terms up to seven years or longer.

· Proven track record. A veteran lender that has a proven track record who knows the complexity and difficulty to structure a hard money loan will put you at ease and make you feel more comfortable with the process.

· A diverse portfolio of lenders. When seeking out a hard money loan for your project, look for a lender with a deep bench of investors who are varied in projects that they finance and have the depth in net worth to create varied loan structure solutions. When you verify that the hard money lender has a deep portfolio of investors then this assures you more loan structure options.

· Shortened turnaround time. You have done your research, visited a number of properties and located your new project. Your offer to buy has been submitted and accepted. Now you need to finance the project. Time is of the essence and you need a hard money lender who can put together financing quickly. In narrowing your search for a lender, you need to discuss this with the lender upfront.

What Other Benefits are Available?

To improve your chances of investment success and continued training, lenders will have programs, software and tools they will offer with the loan to assure their investment is in good hands. Do not be afraid to ask what tools the lender is willing to provide. A reputable hard money lender will be invested in your success and, let’s face it, they do not want the property back.

Make your list of the pros and cons of each lender when making your final choice.

Now you have located your property, your offers been accepted, and you’ve spent time locating and narrowing down the lenders that you would like to use. The next step is to spend hours talking with varied lenders and contact the BBB. Find out which tools each lender will add in with the loan to help with your success. Make up your Pro and Con List. On your list, add the lenders capitalization, BBB ranking, do they offer financing in the state of project, provide tools over the competitor’s, and which one is eager to work with the type of project you are investing in. Now is the time to choose, finance your project and begin.

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

Friday, August 3, 2018

How do Hard Money Lenders Differ from Each Other?

Know your lending options so that you are educated on what to expect when you’re ready to obtain that first commercial loan. There are several things to consider when evaluating hard money lenders.

The following are the varying differences you will encounter when obtaining a commercial loan:

· What is the loan to value ratio of your project? If the ratio is high, the more cash that you will receive for your project.

· What is the minimum and maximum loan amount of the lender?

· Are the hard money lenders that you’re talking with direct lenders (funds in house) or are they a broker? Brokered loans can delay delivery unless dealing with agents that have an extensive rolodex.

· Is the lender local or what geographic region do they serve? Where is your project located?

· What are the closing costs and interest rate?

· Can they close the loan quickly? Are they responsive to you and your project?

· Is the lender trustworthy and experienced in the type of project you are seeking to fund?

When searching for hard money lenders, a Google search will produce hundreds of options. Be sure to look for the following:

Experience. The lender you are talking with should have plenty of experience in the real estate industry as well as experience in the niche industry of hard money loans. An experienced lender will have knowledge in the specifics of hard money loans. The experienced lender will also have the knowledge of procedures and regulations that must be followed which will simplify the process.

Licensed. A hard money lender should hold licenses with state and local real estate bureaus and associations. If the lenders originate consumer loans, then they should be registered with Mortgage Licensing System (NMLS).

Rates and Terms should be Competitive. Look out for lenders who charge interest rates that seem too good to be true. This may be indicators that the lender you are talking with or negotiating with is either unexperienced or untrustworthy.

Transparency is Key

Some lenders will use a bait and switch tactic. Published rates that are very low are often used to attract novice investors looking for the best deal. In all communications, a reputable hard money lender should be clear and upfront about rates, fees and terms.

Quick funding is one of the most common reasons that real estate investors choose to obtain capital from a lender specializing in hard money.

You locate the real estate you want to invest in, your offer is accepted, and now the clock runs, and time is of the essence. You may be choosing this type of lender because of the time-consuming process a conventional lender takes to approve a loan. Then, of course, there is the massive documentation that is needed with a conventional lender. Hard money lenders are known to deliver the loan quickly. As many an investor will tell you, if you do not get the loan funded quickly, you may very well lose the deal. If the lender you’re working with cannot fund the loan in an expeditious manner, you may want to seek capital elsewhere.

Technorati Tags: private hard money lender,owner occupied home loans,hard money loans,hard money loan

Wednesday, July 18, 2018

Considering a Fix & Hold? Read What This Broker Says First

Broker Explains Why Arizona is Tops for Investment Properties

Most of the people we help at Level 4 Funding work in the fix-and-flip industry. They use hard money loans to purchase a property, make repairs, and get it back on the market quickly. We’ve recently interviewed several clients who do just this. However, hard money loans are also utilized by borrowers who need to move quickly in the market; particularly if they’re trying to grab up an investment property before someone else does. This unique angle is attractive to a different category of real estate investors; perhaps those who fix-and-flip, but also those who fix-and-hold in situations where a traditional bank loan won’t suffice. Realtor Chris Mendenhall of Harcourts Prime Properties spoke with us on this front and gave us a few insights for those hoping to make smart real estate investments.

Chris has Been in Real Estate Since 1987

A true veteran of the industry, Chris began his career as a real estate broker more than three decades ago. Although he works primarily in north Los Angeles County, he also serves Orange, San Diego, and Riverside Counties. Chris was working in lending during the 90s crash, helping buyers with their loan applications. “It was a tough time,” he says. “There were only 12,000 sales that year, in an area with 12,000 realtors.”

His Current Focus is on Asset-Based Auctions

Working with Harcourts Prime, Chris’ current focus is on asset-based auctions. He helps sellers get top dollar for their properties within a very short period of time and also gives buyers the chance to purchase property at public auction using a transparent process. Unlike other auctions, buyers can see everything from home inspections to pest inspections prior to making a bid. Despite the quick turnaround, Chris says most properties are grabbed before they make it to auction. Those that do land in the hands of trusted auctioneer Ben Brady, who has handled $4.5 million in properties over the past year alone.

Chris Says Arizona’s the Place to Be for Fix & Flips and Fix & Holds

One of the most recent deals that left Chris in awe was a 26-unit building in Phoenix, which was purchased by investors with the intent to flip and hold. “Mark changed their lives,” Chris says of Level 4 Funding partner Mark Gowlovech. “He helped them generate close to one million dollars in equity.” After a few rounds of funding, the property, which was purchased for next to nothing, now has a value of about $1.5 million and is filled with renters on month-to-month leases. When asked what he thinks of the industry, Chris compared the Arizona market to California. “Arizona’s a better place to do it,” he explained. “It’s easier to rent. The laws are more favorable.”

Focus on the Numbers if You Plan to Get into the Industry

Aside from working in Arizona over California, Chris gives investors some additional advice: “Identify a property that has the numbers. It’s all a numbers thing. Not, I like this color or I like this floorplan,” he explains. He also adds that working with someone like Mark is advantageous. “He has tools that really help his clients,” and ensures they’re making smart investment decisions.

Work with Chris or Learn More About Hard Money Loans

Chris says he often works business professionals who run into situations in which properties have to get to market quickly and the sale must be handled by a neutral third party, which is quite common when it comes to the legal realm, especially family law. Harcourts Prime Properties is only in California thus far, with plans to expand across the US in the near future. If you’d like to connect with him, you can visit his LinkedIn profile, follow him on Facebook, or visit his site ChrisMendenhall.HarcourtsPrime.com.

Level 4 Funding, on the other hand, helps people in California, Arizona, and Texas. If you need funding for a project, such as a multi-family dwelling or general fix-and-flip, and a traditional bank loan isn’t a viable option, learn more about how we can assist you.

Technorati Tags: fix and flip,hard money loan,hard money loans,hard money lender

Here’s What it Takes to Be a Rebel Rehabber/ Fix & Flip Pro

Curious what it takes to be a rebel rehabber? At Level 4 Funding, we have the pleasure of helping some amazing people who work in the fix and flip business and sometimes they’re kind enough to share their stories with us. We recently had the pleasure of speaking with Yvette Stevens of Miami Beach Fix & Flip, and she not only gave us her personal story, but some epic tips for those of you who are interested in becoming a house flipper as well.

Yvette Always had a Fascination with Finance and Homes

While she may not have known it at the time, Yvette was being primed for the fix and flip business from an early age. Growing up in Chicago, she often visited her father’s construction sites and fell in love. It wasn’t long before she was begging her parents to take her on tours of the city, so she could soak up the architecture and imagine what it would be like to create similar homes. While other kids were nagging their parents for spending cash, Yvette was happily balancing her mother’s checkbook and paying the household bills. It’s no surprise, then, that when it was time for Yvette to choose a career, she jumped headfirst into lending.

One of Yvette’s current projects: completed stock plan, a 2,721-square-foot beauty

She Decided to Kiss the Corporate Ceiling Goodbye

Although Yvette loved many aspects of her career, particularly reading the plans that came in with loan applications, she wasn’t content to sit still. “Corporate America has a ceiling,” she says, “especially for women.” She rebelled. Using her expertise in both construction and lending, Yvette began transitioning into development in 2005, building homes from the ground up.

The Market Crash Left Her with “Beans”

“Real estate goes in ten-year cycles,” she says. The money, mortgages, real estate, and politics are all tied together, resulting in regular shifts. This, she says, is also the cause of the “steak and beans” lending cycle. During lean times, Yvette has been able to refocus on her career in finance, while searching for development opportunities when the market has been good. Like many others, the crash of 2008 hit Yvette hard. She was working on building an entire subdivision that September, but she managed to climb back up out of it and now does fix-and-flip work too.

When Choosing Fix-and-Flip Properties, Yvette Goes for a Blank Slate

Every fix-and-flip pro has a specialty. For Yvette, her ideal property is one she can tear down to the studs, simply because she loves having a blank slate to work with. “The uglier they are, the more we like them,” she says. Her current project is an older home in a historic district, which comes with rigid requirements for what can be done to the outside of the home, but she doesn’t mind at all. “Construction feeds my creative side,” she adds. Her primary focus is Florida these days, but Yvette researches various markets and finds new opportunities all over the country.

Yvette Offers a Wealth of Advice for Potential Fix-and-Flippers

“It’s not that easy,” she says. “People think they’re going to jump in and make money,” but there’s so much more involved. You have to “live, breathe, and eat real estate.”

“You’ve gotta have some cash.” Even if you get 100%, you’ll need to have money set aside for things like closing and emergencies.

“Look at it like a line of credit.” Lenders look for 20% verified liquid assets in order to ensure the borrower can finish the project. “Be prepared. Everybody wants something for nothing these days, but it just doesn’t work that way.”

“Learn, learn, learn before you earn.” Research your market; don’t jump into it. Get a good understanding of how credit and assets work. Learn about the business and concentrate on a market. Yvette’s a fan of BiggerPockets.com and points out that newcomers may benefit from the free information and tools the site offers, like fix-and-flip calculators.

“Make a lot of offers. Keep throwing them up against the wall until one sticks.” Resilience is paramount because you’ll get a lot of rejections before you find one that’s really a great deal you can work with.

“Love what you do. If it’s not fun, you’re not going to be successful.” There will be a lot of ups and downs when you do home rehabs. Enjoying what you do will keep you motivated and on your toes, even when things are difficult.

Learn More

If you’d like to connect with Yvette, head over to her LinkedIn profile and say “Hello.” We’ll be covering the stories of other Level 4 Funding clients as well, so pop back over soon for the next installment. You can also reach out to us directly if you’re interested in financing your next fix-and-flip with a hard money loan.

Wednesday, July 11, 2018

Dallas Texas Hard Money Loans

Looking for Private Hard Money Loans in Dallas Texas for you real estate investment, development or need funding fast.

Level 4 Funding LLC is an Texas top Hard Money Lender Commercial Lenders for Dallas, Houston, Austin.

We are brokers and can find you the best possible hard money loans

for your Commercial, Construction,

Hard Money Loan in Dallas Texas.

Yes we work state wide and have years of experience as Private Hard Money Lender for Dallas Texas. If you need a quick decision and a quick loan, we can deliver Low Rates and Great Terms on Private Hard Money.

We look for the best possible deal on rate and terms and

will provide you an underwriting decision

within 24 hours.

Level 4 Funding provides hard money loans to real estate investors and developers who need Hard Money Loan quickly. We are a direct private money lender – this term is synonymous with “hard money lender” – hard money broker who looks at applications and finds an outside lender to provide funds for the Private Loan.

We lend statewide and have extensive experience in Dallas Texas, Austin Texas and Houston Texas.

We can make decisions on your loan applications quickly and we underwrite loans in-house, cutting out the middleman and helping us to minimize the time and processing costs by creating as few steps in the Hard Money Loan Application process. We can provide Hard Money Loans in Dallas for Commercial, Residential, Office Multi Family, Warehouse, Storage Complex, Student Housing, Raw Land, Construction. We offer:

· Investment Property Financing for Commercial and Residential

· Funding in as little as 24 hours

· Rates as low as 7.9%* (8.4% APR)

· No upfront prepaid fees in advance

· Terms from 6-60 months*

· No pre-payment penalties, no back-end points, no hidden fees*

As an asset-based lender, we are mostly concerned with the real estate used for the Hard Money Loan. As an Dallas Texas -based lender, we work with Texas real estate investors in Dallas, Houston, Austin and other Texas markets, making us ideal to work with thanks to our understanding of the state’s market as well as being easy to reach during hours that work for you.

Level 4 Funding Has the Experience in Hard Money Loans in Dallas Texas to Help You Today

We look for the best deal for you. Our team is built to see the potential in a property and provide a financing solution that can bring value to your project and save you profit! We have taken the time and care to understand Dallas Texas Market unique real estate market to ensure that we can create a customized Private Hard Money Loan fit for any property or project in the area.

When Your Loan Can’t Wait and Need a Dallas Texas Private Hard Money Loans

Level 4 Funding has assisted with financing a variety of investment properties. we have the experience and knowledge to get you to the next stage of your project from purchasing a property to either hold onto while it appreciates in value or to turn it into a monthly cash flow asset in your portfolio, to fix and flips, to full scale residential subdivision construction, We make asset-based lending a quick, simple and easy-to-apply-for process.

If you’re looking for a private loan, don’t wait –

start you application today.

We look forward to working with you.

We do them all! Give us a quick call to discuss your situation and your project. We can provide you with an answer over the phone with no obligation or pre-paid fees in advance. If we can help we will, if not we can tell you the course of action you need to take to get your project funded. Yes we do them all, give us a call today for a Private Hard Money Lender for AZ, CA, CO, FL, ID, OR TX and WA! Give me a call at 623-582-4444 or for Texas Hard Money Loans call us at 512-516-1177.

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Commercial loans tied to retail properties

Commercial loans tied to retail properties will find new strength over the coming year, as retailers find new efficiencies.

The record pace of retail defaults and store closures will likely slow in the coming year. retailers are benefiting from newfound efficiencies and an improving economy. Analysts believe that even struggling to department stores, like Kohls and Macy’s, could see their situation improve in 2018.
Moodys analysts anticipate a better outlook for retail across the board. Moodys predicts that the owners of retail properties could see growth in operating income between 3 1/2 to 4 1/2% over the coming year. 5 out of 14 categories of retailer may even see profits grow higher than 5% in 2018. Moodys claims particularly strong players will include online sellers, dollar stores and home improvement retailers. Warehouse clubs, department stores, office supply stores, auto retailers, apparel sellers and drugstores will continue to struggle.
2017 was particularly dire for brick-and-mortar retailers. Store closures grew by 224% over the course of last year. Retailers planned to shutter a total 6879 locations by the tail end of 2017. 6,163 store closures had already taken place at the end of last November. 2017 broke the record for store closures which was previously set during the depths great recession.

The defaults in retail related commercial loans seen last year seemed to have little to do with the economic situation.

Paradoxically, in spite of record breaking store closures, consumer confidence and retail sales overall reached all-time highs. Store closures last year seemed to have occurred mainly in long brick and mortar retailers unable to adapt to changing consumer shopping habits. The National Retail Federation found in a recent survey that last year's Christmas shopping season was the first time record for the majority of those surveyed plan to shop online exclusively. 59 percent of consumers surveyed by the group had no plans to do holiday shopping at a mall or department store.

The holders of retail based commercial loans are expected to adapt and defaults are expected to slow as a result.

The record number of defaults last year was likely among retailers who were unable to keep pace with changes in consumer shopping habits. Moodys cites restaurants as a particular example of an industry that has adapted to the needs of consumers. “Consumers are wrestling with higher non-discretionary spending needs while restaurant companies face higher operating costs — predominantly labor — and challenging traffic trends,” said Moodys vice president Bill Fahy. According to Moodys restaurants and other retailers are expected to meet these and other challenges over the course of the coming year. As retailers close more locations, these same retailers will likely find better ways to boost sales at their remaining locations. Moodys expects the wave of defaults to peak by March of this year to 10 1/2%. By this October these defaults are expected to slow with an estimated 4.9% of retail debt in default by that time.

Dennis 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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Looking for Private Hard Money Loans in Dallas Texas for you real estate investment, development or need funding fast.

We are brokers and can find you the best possible hard money loans

for your Commercial, Construction,

Hard Money Loan in Dallas Texas.

We look for the best possible deal on rate and terms and

will provide you an underwriting decision

within 24 hours.

Level 4 Funding Has the Experience in Hard Money Loans in Dallas Texas to Help You Today

When Your Loan Can’t Wait and Need a Dallas Texas Private Hard Money Loans

If you’re looking for a private loan, don’t wait –

start you application today.

We look forward to working with you.

Commercial loans tied to retail properties will find new strength over the coming year, as retailers find new efficiencies.

The defaults in retail related commercial loans seen last year seemed to have little to do with the economic situation.

The holders of retail based commercial loans are expected to adapt and defaults are expected to slow as a result.