Learn To Be A Fix and Flip Investor: DANGER: How to Scare Off a Hard Money Lender

Saturday, June 1, 2019

DANGER: How to Scare Off a Hard Money Lender

A hard money Lender needs certain things from you, as an investor, to approve your loan. Here are some things to avoid when providing your business plan.

Any Arizona Hard Money Lender that you approach to fund your loan is going to have things they needs to see and discuss before approving your proposal. They will require documentation that shows your plan, you’ve prepared for potential problems, and have selected a property that will enable you to return on your investment and therefore pay your Lender back.

BUT there are things you should avoid so that you don’t scare off your potential Lender .

Prepare Your Plan

It is encouraged for you to reach our to your potential Arizona Hard Money Lender to get the list of documents and information you’ll need to provide in order to be approved. This list can vary by Lender so you’ll present exactly the information they need by obtaining that list of requirements before hand.

Provide Necessary Information and NO MORE

You want to provide to your Arizona Hard Money Lender a complete business plan that really explains your strategy for turning your loan into a thriving venture, whether that is with a fix and flip property or a Arizona Commercial investment property.

Be Ready for Questions

If you’re not ready to field questions from your Lender you are going to present yourself as unprepared and unknowledgeable. Arizona Hard Money Lender interviews are a back and forth conversation between Lender and borrower so you’ll need to be able to explain your business plan well, and also know the potential risks while being able to describe how you’ll navigate them if or when they happen.

Now it’s time to present your business plan. You may have to present to more than one Lender before you get an approval and it also gives you the opportunity to shop around to make sure you’re getting the best loan for your investment. This needs to be a good match financially so both sides are benefiting from the transaction.

Call Level 4 Funding today to learn more!

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
Dennis Dahlberg Broker/RI/CEO

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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.