Sunday, July 31, 2016

Quick Answers to Quick California Hard Money Questions

Anytime your money is involved you need to know the answers to ALL of your questions. This is especially true with California Hard Money. If you’re thinking about an California Hard Money loan, you need to gather as much information as possible. Listed below are a few FAQs to California Hard Money loans.

California Hard Money FAQs

1. How do I get approval for an California Hard Money loan?

Getting approved is easy! Lenders don’t base your eligibility on credit score, employment history, or current income. In fact, you don’t even have to provide any financial information. All your lender needs to know are the logistics of your property. Hard Money loans are strictly equity-based, so you have quite a bit of leeway when it comes to eligibility.

2. What LTV (Loan to Value) ratio can I expect?

This number will be based on quite a few factors and determined on a case-by-case basis. However, as a general rule, most LTVS will be anywhere from 65% to 80% of the value of the home. This number can fluctuate greatly, but this is a good base to go off of.

3. What are the costs of California Hard Money loans?

All Hard Money loans are going to require a Title policy, insurance, and appraisal. These services do cost money--even up to a couple thousand dollars. Often times though, this will only cost a few hundred dollars. Most Hard Money lenders will not charge application fees or closing costs, so, by the time you even find the lender you want to use, most of the expenses have already been taken care of.

4. Do I have to put money down?

Most of the time, you do. Lenders need to feel confident in their investment, so they need to see that you have enough resources to cover the costs of the loan. Expect to pay a little bit out of pocket until the project is completed, but nothing that will break the deal.

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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California Hard Money eligibility

If all you know about financial lending institutions and the finance world is that getting a loan is difficult--and perhaps, not in your near future--you know enough. That’s OK, too. The majority of people actually don’t know much about loans and borrowing money and they don’t bother to find out information on them until they need one. If you already know you cannot qualify for a loan, or if you have been declined financing for your home purchase, an California Hard Money loan could be just right for you.

Getting approved for an California Hard Money loan is really simple. With California Hard Money loans, you don’t have to worry so much about your personal financial profile. In fact, things such as credit, income, employment history, and ability to pay don’t have much to do with it. These types of loans are equity-based, so it’s more about the property than anything else.

Considerations in the California Hard Money world

The first and most important thing lenders consider is the equity of the property. Is it worth it? Or is your investment project just going to turn into a hot mess? Hard Money lenders consider the LTV (loan to value) ratio between the amount you want to borrow and the value of the property. For you, this usually means approval of a loan for an amount between 65% and 80% of the home value. I

Do you have any other liens on the property? Hard Money lenders take into account if you have any other previous liens. If so, you may not get approved for a loan. Hard Money lenders will not agree to loan money on a secondary basis. They must be the PRIMARY lienholder. Still, this is always worth checking into.

One of the main reasons people seek Hard Money loans is because they do not have the credit or income level necessary to qualify for a loan from banks or other lending institutions. So, as stated before, qualifying for California Hard Money does not mean that you have to have a good financial past. Again, these loans are equity-based. (Although, good credit can never hurt a person.)

Overall, California Hard Money loans are less restrictive and easier to qualify for than other loans. One of the great things about these types of loans is that you get to work out the logistics of it personally with your investor or lending company. Many people find that California Hard Money loans are viable and trustworthy places to get the money they need quickly and easily.

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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Labels: commercial hard money lender commercial real estate loan

How California Hard Money can be borrowed and used

The first and most common example of California Hard Money loans is a residential investment loan. This is for an individual person seeking a loan and the property purchased with the money is then used as collateral. Fortunately for the buyer, this eligibility for this loan is determined on the property, not on the borrower’s ability to pay.

Next, we have California Hard Money for commercial investments. This is for companies (small or large) looking to invest in property or in a “fix-and-flip” project. (This can also be done as an individual, but is a little less common.) In the residential case, your company might not have ownership of other property to use as collateral, so instead, they may accept interest in your company. Basically, the California Hard Money lender would be a part-owner of the business, at least until the project is completed and the money has been paid back to the lender.

Most California Hard Money loans are a bit shorter loans--about 6-36 months. When done correctly, both the lender and the borrower can actually profit. After you have revamped the property you purchased, you can turn around and sell the property for more than what you paid for it. Then, you pay off your loan, make the homebuyer happy, and you have a little extra cash in your pocket. If you play your cards right, you can actually turn this into a profitable income for yourself.

The possibilities are endless with California Hard Money!

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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Labels: commercial hard money lender commercial real estate loan

How do I find the right California Hard Money lender?

Finding an California Hard Money lender can seem like a daunting task. In fact, you may be so deep in financial hardship, it’s taking all of your strength just to keep your head above water. When you don’t have anywhere to turn, California Hard Money lenders are there for you. After you find the right Hard Money lender for you, they can loan you the money you need in as little as 24 hours and set you on the path to financial freedom. There are a few ways to find the right California Hard Money lender and it is on you to make sure you find the right one for your needs.

First, you need to determine the kind of Hard Money you are seeking. Are you a commercial developer in need of Hard Money? Or are you an individual interested in a residential Hard Money loan? Deciding which category you belong to is the first step to consider before looking further.

Then, crunch the numbers and configure how much money you need. Remember that California Hard Money lenders will loan you up to 80% LTV (loan to value), but this amount could also be as low as 65%. Keep your number somewhere between that range and then start doing your research. You probably already have your purchase in mind, so do the math. How much can you afford? How much do you need to borrow? What can you do to minimize costs?

Researching an California Hard Money lender

What better way to start than with everyone’s favorite research tool? You don’t even have to get off the couch--start with the internet. Use a search engine such as Google or Bing and type in the words you are looking to find. For example, if you wanted to find a lender in your area, you may type “California Hard Money lenders.” Undoubtedly, several hundred (if not thousand) websites are going to pop up. This can also be daunting. Click on some of the sites and compare and contrast what you see. Make a few lists of the things that seem legitimate to you and also keep a list of lenders that seem a little sketchy. It isn’t too much to ask to have your Hard Money lender at least have a legitimate looking website if they are going to be dealing with your finances.

One of the most important things to remember is that if it seems too good to be true, IT IS! Don’t do anything you feel uncomfortable with, even if it seems like a good deal. Trust that gut feeling of yours, even if it means the lender you decide on has slightly higher interest rates. Don’t let your vulnerable situation lead you down a path that you feel to be wrong.

When you find a decent looking lender, look up some customer reviews. You can learn about a lender by simply reading what other people’s experiences have been like with them.

The different types of California Hard Money available in your area

There are lots of ways to make California Hard Money work for you. The most common situation is a person seeking a loan to purchase a home who cannot get approved for a loan by a traditional lending agency like a bank. While most people think of California Hard Money loans as those high-interest, last-resort, type of money options, they can actually be used creatively and efficiently so that the lender and the borrower both end up profiting in the end. Believe it or not, it can be done!

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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Labels: commercial hard money lender commercial real estate loan

Friday, July 29, 2016

Hard money – the truth and the fiction

Hard money is one of the leading forms of alternative financing, other than the black market, which is illegal, so don’t go there. When loans need to happen quickly, or when traditional lenders will not approve a loan, California hard money may be the only option. Let's review how these loans work, just in case you need a refresher. What Is Hard Money? Most loans require proof that you can repay them. I know, right? They don’t want some cracked out kids coming in, getting approved and then walking out the door. I mean, they were certainly doing this before the bubble crashed, but now they want to get all moral on your case.

Usually, lenders are most interested in your credit and income. If you have a solid history of borrowing responsibly and the ability to repay loans, you'll probably have no problem borrowing money.

If you can't qualify for traditional loans, hard money may be an option. Hard money lenders California give out a type of loan that uses an asset (or collateral) to secure the loan. Instead of evaluating a loan's risk based on your financial position, the lender makes sure that they can get their money back by selling your asset if you don't repay as agreed. This could be a nice car, a boat or even your own house. Don’t put your family at risk when considering one of these projects – it just isn’t worth it. Put up the summer home instead.

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 – the easy way to financing your project

You wouldn’t know it unless someone told you or you were a super smart accountant or knew a lot about investing, but hard money lenders California is actually easy. It’s so easy, almost anyone could do it – and what’s that Geico slogan? A caveman could do it? It’s so true it hurts, but the sentiment remains – it’s simple, it’s a breeze, it’s easy.

Let’s look at it this way: Phoenix, California has a population over 1.44 million and that number is only expected to rise in the coming years, like a helium balloon inside of another helium balloon. Yet, it’s not a very condensed place, spread out to the far reaches of the horizon. So many houses were built in the real estate bubble a few years ago, but many of these properties now stand empty, neglected and decaying.

You could easily start a few projects where you rehabilitate these homes, or “flip” them as the industry big shots say and all you’ll need is an approval from private money lenders California. Why do you want to go the hard money route? Because it’s much more easy than heading to a bank or mortgage company. They want buyers and loaners that will stick around a lot longer than someone just wanting to fix a property up. You go through the middle man and soon, everyone is happy.

That’s why there’s no need to break a sweat – just learn the in’s and out’s of hard money, which would take only a few weeks, and then you could start doing business your way.

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.

Thursday, July 28, 2016

Making your dreams a reality through California Hard Money

You know when you’ve found it. It is the perfect size, shape, and color. It meets all the needs of your family, it is comfortable, inviting, and needs to be YOURS. When you find the home of your dreams, the last thing on your mind is playing the waiting game with your lender. And, sometimes when you do choose to play the game, you don’t get approved for the loan and the home has been bought out from underneath you. Believe it or not, there is a solution to this situation so many Americans find themselves in.

This is where California Hard Money comes in. California Hard Money loans are loans that are equity-based and processed and approved in as little as 24 hours. For the most part, Hard Money loans are funding for foreclosed homes and short sales, but can also be used for fix-and-flip projects or property/land purchases. Since the item you wish to purchase ultimately becomes the collateral for your lender, it is at their discretion as to whether or not they will approve your loan.

Most LTVs (Loan to Value Ratio) are anywhere from 60% to 80% of the home purchase. That means if you wish to buy a home for $100,000, you will be loaned anywhere from $60,000 to $80,000 worth of the investment. California Hard Money is a good way to put a lot of money down on a home and then pay it back rather quickly. This helps you avoid all the mess with banks having to check your credit, employment history, and pay stubs.

While interest rates can be fairly high for Hard Money loans, many are short-term (about 6-36 months) so they can be paid off quickly. When acting on a short sale or purchasing a foreclosed home, the money you save could definitely be the little bit higher interest rate you would pay for the loan.

Becoming eligible for an California Hard Money loan

The best part about applying for a Hard Money loan is that it couldn’t be easier to qualify. You simply contact a Hard Money company or lender, show them your plans and ideas, and you can get your California Hard Money in as little as 24 hours. Eligibility for California Hard Money is not based on credit, income level, or employment. In fact, the main determination in eligibility has nothing to do with you at all! It is all about the property you are looking to purchase. It just doesn’t get much easier than the process of Hard Money.

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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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How do you know when it is time to consider California Hard Money?

Sure, you may have heard the term thrown around here and there, but do you really know what California Hard Money is? How do you know when it is time for you to consider an California Hard Money loan? There are several paths that could lead you to Hard Money, but smart investors and borrowers know how to make it work in their favor.

Perhaps you are a beginner in the investment world without the money or the means to make it work. Maybe you have an ideal home project or purchase in mind but poor credit and a shaky financial past is keeping your from qualifying for any type of home loan.

Because typical loans can take at least 30 days to process and qualifying for one can be quite a hassle, California Hard Money is a convenient alternative to traditional methods of borrowing money. Many lenders do not require a credit check or proof of income.

Creative ways to use California Hard Money

California Hard Money can also used as a creative way to finance your home or property. Consider this: Most people consider anything with the term “loan” in it as a way to find yourself even deeper in debt. But, believe it or not, both you and your Hard Money lender can actually profit from California Hard Money. Seems too good to be true, right? Think again.

If you are loaned enough money to buy a foreclosed home, you can actually show the lender your plan of action, fix the home up, and sell it at under-market value (but, of course, for an amount more than you paid for it.) Obviously it costs money to make money in this situation, but it is certainly an option for those who are ambitious and willing to go the extra mile to make a buck. When all is said and done, you have paid your lender back, equipped a new family with the home of their dreams, and you have money in your pocket.

Whether you found a great deal on a home and are anxious to buy, or you are looking for a way to finance your property creatively, the opportunities for California Hard Money are endless

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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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California Hard Money lenders are unique.

When you and your spouse decide to purchase a home, you are taking one of the biggest risks of your lives. Of course, if you live within your means and keep a strict budget then this would help you breathe a little easier. But, there are times where money becomes tight even when you are wise with your finances. Sometimes people have to file for bankruptcy and have their house foreclosed due to unlucky conditions whether it comes from losing a job, hard economical times, or got in a bad accident. But thank goodness for California Hard Money lenders. They can help you when you are falling behind on your mortgage by providing you a way to avoid bankruptcy.

They provide short term loans (3-36 months) to those who are in need of help with their finances. Hard Money companies are lenders who offer a specialized type of real-estate loans. Hard Money lenders generally have much higher interest rates than banks because they fund deals that do not conform to bank standards.

The last thing that we would want to do is go into foreclosure, or into big debt that seems overwhelming. One of the hardest things to overcome when faced with an obstacle such as this is to wonder how you are going to become free from the debt. Just because your past has been full of financial troubles, it doesn’t mean that your financial future is in a crisis. There is help. An California Hard Money lender can give you the quick loan you need to avoid bankruptcy and other troubles. Banks will always look at your credit score, credit history, and other components of your finances to give you a loan, but a Hard Money lender will not even look at either of those options.

California Hard Money lenders are with YOU.

As I had mentioned before, California Hard Money lenders will go where no bank would even consider. Rather, they are on your side. They understand your situation and will do everything in their power to see that you are rewarded a loan for a home or project you want. Most California Hard Money lenders loan money for buying a foreclosed or short saled home, home projects, or any other type of property or real estate investments.

The interest rates for most Hard Money lenders are higher than banks because they are taking a higher risk on you. But the good part about California Hard Money lenders is that the loan period is generally a lot shorter than banks. They average anywhere from 3-36 months. Remember that California Hard Money lenders will often approve you for a loan of up to 80% of the property’s value (though this number is usually closer to 60%) in as little as 24 hours.

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

Tuesday, July 26, 2016

California Hard Money Makes Investing Easy

The other day, I found an amazing investment property. I recently started investing in real estate, and so far have been very successful. I’ve found it quite easy to find California hard money which I’ve used in order to invest in the properties that I’ve bought so far. I have found a great hard money lender California that I work with. I never knew it could be this easy! So when I found this awesome investment property, I immediately called my hard money lender California and let his office know what was going on. I filled out some very basic preliminary paperwork, and they assured me the money would be available when it was needed. That is why using California hard money to purchase my properties has been so great. I never knew that getting a loan to buy a property could be so easy. When my wife and I purchased a home a few years back, there was all kinds of red tape to go through with the banks. That’s not at all how it is with my hard money lender California.

Fortunately, and unfortunately, the investment property is bank owned. That means that unlike a hard money lender California who gets things done fast, the bank takes its time. So I put in my offer and now I’m just waiting. Hopefully things go faster than expected, but sometimes it can take months and months for a bank to approve an offer, or come back with a counter offer. I should be getting a great deal on the property, so the profit will be worth the wait, but I’m not a very patient person, so it’s a little difficult for me. That’s another reason why I like using California hard money—it’s so much faster. I am able to get my properties, flip them, sell them, and make my profit very quickly. It has been an excellent career move for me—but I would not be able to do this if it weren’t for a hard money lender California.

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

Posted Yesterday by Dennis Dahlberg

Labels: commercial hard money lender commercial real estate loan

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Sunday, July 31, 2016

Quick Answers to Quick California Hard Money Questions

California Hard Money FAQs

California Hard Money eligibility

Considerations in the California Hard Money world

How California Hard Money can be borrowed and used

The possibilities are endless with California Hard Money!

How do I find the right California Hard Money lender?

Researching an California Hard Money lender

The different types of California Hard Money available in your area

Friday, July 29, 2016

Hard money – the truth and the fiction

Hard money – the easy way to financing your project

Thursday, July 28, 2016

Making your dreams a reality through California Hard Money

Becoming eligible for an California Hard Money loan

.

How do you know when it is time to consider California Hard Money?

Creative ways to use California Hard Money

.

California Hard Money lenders are unique.

California Hard Money lenders are with YOU.

Tuesday, July 26, 2016

California Hard Money Makes Investing Easy

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