Seniors and Young Adults Will Influence U.S. Housing Market with Phoenix hard money lenders

Aging baby boomers and their echo boomer children will significantly impact trends in the nation’s housing market over the next 20 years. In a new report released by the Bipartisan Policy Center, “Demographic Challenges and Opportunities for U.S. Housing Markets,” researchers at the National Association of Realtors®, The Urban Institute, and the University of Southern California analyze key demographic trends and their likely influence on housing and homeownership in the U.S. Phoenix Hard money lenders.

Over the next two decades, the aging baby boomer generation will swell the nation’s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb.

“THE NORTHEAST AND MIDWEST ARE MOST LIKELY TO SEE A LARGE NUMBER OF OLDER HOMEOWNERS SELLING THEIR HOMES TO YOUNGER HOMEOWNERS AS THE BABY BOOMERS AGE,” SAID NAR CHIEF ECONOMIST LAWRENCE YUN. “THIS INCREASED SUPPLY COULD MEAN ADDITIONAL BUYING OPPORTUNITIES FOR ECHO BOOMERS. THAT GENERATION WILL ABSORB 75-80 PERCENT OF THE AVAILABLE INVENTORY OF OWNER-OCCUPIED HOUSING BY 2020.” PHOENIX HARD MONEY LENDERS

The echo boom generation includes nearly 65 million people born between 1981 and 1995. NAR’s analysis illustrates the potential impact of economic and housing policy on this generation’s demand for housing as they come of age.

“Housing, jobs and the economy are inextricably connected,” said Yun. “A strong recovery with favorable housing market conditions would encourage substantial growth in echo boomer households, which would help absorb the current vacant inventory and stabilize conditions for residential construction. Under a reasonable ‘middle’ recovery scenario, approximately 12 million new households will be formed over the next decade, requiring construction of up to 15 million new housing units.” Phoenix Hard Money lenders.

Phoenix Hard Money

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Understanding the benefits of hard money lenders Arizona

Understanding the benefits of hard money lenders Arizona

Wikipedia defines a hard money lender as “lending companies offering a specialized type of real-estate backed loan.” Therefore, hard money lenders provide short-term loans (also known as a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have much higher interest rates than banks because they fund deals that do not conform to bank standards, but in the long run, these deals tend to pay off much more.

ARIZONA HAS SOME OF THE HIGHEST FORECLOSURE RATES IN THE COUNTRY, THANKS TO IT’S IMMENSE SPRAWL. SO HARD MONEY LENDERS ARIZONA ARE MORE IMPORTANT NOW THAN EVER. IT’S IMPOSSIBLE TO IGNORE THAT BANKS AND BIG LOAN COMPANIES CAN’T PROVIDE THE SAME BENEFITS AS PRIVATE MONEY LENDERS ARIZONA. SOME OF THESE BENEFITS INCLUDE HIGHER, BUT MORE FLEXIBLE LOANS AND A WAY TO PUT YOURSELF AT EASE IN THIS ROUGH ECONOMY.

Just because hard money lenders will offer a range of requirements on the loan-to-value percentage, type of real estate and minimum loan size for a hard money loan doesn’t mean the everyday Joe Schmoe can’t qualify. It’d be at least beneficial to look into the whole thing. Who knows, you’re likely to find an even greater deal. Just remember, there are many different types of hard money loans such as fix and flip loans, construction loans and bridge loans, Arizona land banking, Mezzanine financing, land acquisition and development, land loans joint ventures and many more. The variety is just to make sure your particular needs are met.

hard money lenders arizona

Finding the right hard money lending Arizona for all of Arizona

Finding the right hard money lending Arizona for all of Arizona

If you’re like the many millions of people living in Arizona and you want to be able to afford a house, then perhaps familiar, tired banking isn’t for you. Perhaps consider hard money lending Arizona because that’s a unique and often beneficial alternative. Most Arizona hard money lenders provide coverage for the entire state, from Prescott to Flagstaff to Tucson to Scottsdale to Tempe to Phoenix and everywhere in between. This is a necessary route to take when banks cannot approve your loan request or respond quickly enough. So let’s say you just moved from Illinois to Arizona because you were let go from your last job. Yes, it sucks to be you, but don’t mope too much. You need a house and fast. Your family is getting sick of living at the Ramada Inn and eating take-out every night, not to mention the huge drain on your wallet. Your job is helping, but still, nothing would be greater than a house. If the bank can’t help you because they’re too broke too, it’s time to find other options. Like private money lenders Arizona. You can befriend these people much easier than most. That’s what makes these types of loans so successful – after all, they’re more personal. You’ll get what you need and so long as you work hard and pay your loan on time, everyone should be happy, including your family and the staff at the Ramada Inn.

YOU’LL WONDER WHY YOU DIDN’T THINK OF THIS HARD MONEY LENDING ARIZONA SOONER.

Phoenix Hard Money Lender

Understanding the benefits of hard money lending Arizona

Understanding the benefits of hard money lending Arizona

Wikipedia defines a hard money lender as “lending companies offering a specialized type of real-estate backed loan.” Therefore, hard money lenders provide short-term loans (also known as a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have much higher interest rates than banks because they fund deals that do not conform to bank standards, but in the long run, these deals tend to pay off much more.

Arizona has some of the highest foreclosure rates in the country, thanks to it’s immense sprawl. So hard money lenders Arizona are more important now than ever. It’s impossible to ignore that banks and big loan companies can’t provide the same benefits as private money lenders Arizona. Some of these benefits include higher, but more flexible loans and a way to put yourself at ease in this rough economy.

JUST BECAUSE HARD MONEY LENDING ARIZONA WILL OFFER A RANGE OF REQUIREMENTS ON THE LOAN-TO-VALUE PERCENTAGE, TYPE OF REAL ESTATE AND MINIMUM LOAN SIZE FOR A HARD MONEY LOAN DOESN’T MEAN THE EVERYDAY JOE SCHMOE CAN’T QUALIFY.

It’d be at least beneficial to look into the whole thing. Who knows, you’re likely to find an even greater deal. Just remember, there are many different types of hard money loans such as fix and flip loans, construction loans and bridge loans, Arizona land banking, Mezzanine financing, land acquisition and development, land loans joint ventures and many more. The variety is just to make sure your particular needs are met.

hard money lenders arizona

Finding the right hard money lending Arizona for all of Arizona

Finding the right hard money lending Arizona for all of Arizona

If you’re like the many millions of people living in Arizona and you want to be able to afford a house, then perhaps familiar, tired banking isn’t for you. Perhaps consider hard money lending Arizona because that’s a unique and often beneficial alternative. Most Arizona hard money lenders provide coverage for the entire state, from Prescott to Flagstaff to Tucson to Scottsdale to Tempe to Phoenix and everywhere in between. This is a necessary route to take when banks cannot approve your loan request or respond quickly enough. So let’s say you just moved from Illinois to Arizona because you were let go from your last job. Yes, it sucks to be you, but don’t mope too much. You need a house and fast. Your family is getting sick of living at the Ramada Inn and eating take-out every night, not to mention the huge drain on your wallet. Your job is helping, but still, nothing would be greater than a house. If the bank can’t help you because they’re too broke too, it’s time to find other options. Like private money lenders Arizona. You can befriend these people much easier than most. That’s what makes these types of loans so successful – after all, they’re more personal. You’ll get what you need and so long as you work hard and pay your loan on time, everyone should be happy, including your family and the staff at the Ramada Inn.

YOU’LL WONDER WHY YOU DIDN’T THINK OF THIS HARD MONEY LENDING ARIZONA SOONER.

hard money lending arizona

Hard money lenders Arizona is actually easy

Hard money lenders Arizona is actually easy

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 ARIZONA IS ACTUALLY EASY. IT’S SO EASY, A CAVEMAN COULD DO IT – YES, I KNOW THAT’S A GEICO MONIKER OR SLOGAN, BUT THE SENTIMENT REMAINS – IT’S SIMPLE, IT’S A BREEZE, IT’S EASY.

The first part, perhaps the hardest part (no pun intended) is finding the correct private money lenders Arizona. They can be anywhere, under any rock or cranny, so you should want to probably shop around a whole lot. They usually have extensive websites with lots of details on what they’ll be offering you. Then, it’s simply a matter of contacting them with your idea or offer of investment. They’ll invite you into their office where they’ll give you free coffee (score!) and you can discuss all the grimy details of this exciting new loan available to everyone, even people like you.

Don’t think too lowly of yourself when dealing with these types of loans. Remember, you are a valuable person that is valued by God (if you believe in God, that is) and so fight for your right…. To vary!!! That means, don’t let yourself be monkeyed around by people who use a bunch of mumbo jumbo to confuse the drizzle out of you. You want your hard money lender to be your friend, because you’re already in a tight spot and could use a shoulder to lean on. That’s the whole idea behind hard money lending in the first place.

hard money lenders arizona

Easy Arizona hard money in the faltering real estate market.

Arizona 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 ARIZONA 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 ARIZONA 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 ARIZONA 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 ARIZONA 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 ARIZONA.

Fortunately, and unfortunately, the investment property is bank owned. That means that unlike a hard money lender Arizona 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 Arizona 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 Arizona.

hard money

The essentials of flipping a property with Arizona hard money

The essentials of flipping a property with Arizona hard money

A lot of hard work and extra steps go into flipping a property – that is, acquiring a beaten down, worn out house or business, repairing and upgrading the whole thing and then selling it for a profit.

There’s a lot to consider – for one, the time it’ll take, who you’ll be outsourcing to fix dents, tile floors, fix plumbing and garnish the trim. Then there’s the anxiety over selling such a property. Even if you completely renovate a mansion and try to resell it, will anyone be able to buy it in these markets? Well, as the economy and the stock market steadily rise, the answer seems to be yes, so long as you’re patient.

But the most important thing to consider is cost. If your expenses in flipping this hypothetical property exceed or hardly meet your profits, you’ll be down river without a paddle. And what if the banks don’t even approve your project, as they are wont to do in such an unstable market. One way to avoid this is with hiring a hard money lender Arizona. These guys give you the funds to give your project life and usually only ask for a small percentage and payments on interest, so you can focus on all the electrical rewiring or whatever, instead of how you’ll pay bills month to month.

UNDERSTANDING THIS GROWING TREND OF ARIZONA HARD MONEY IS ESSENTIAL TO ANYONE TRYING TO MAKE BUCK IN THE REAL ESTATE BIZ, ESPECIALLY SINCE SO MANY PEOPLE ARE WARY OF IT LATELY. HOPEFULLY, YOU CAN MAKE A RIGHT DECISION THAT WILL BENEFIT EVERYONE IN THE END.

arizona hard money

Despite popular belief, the real estate market isn’t dead because of Arizona hard money

Despite popular belief, the real estate market isn’t dead thanks to Arizona hard money

While it’s true the real estate bubble has left a bad taste in everyone’s mouth, the market is still far from completely dead. Oversaturated, perhaps, but dead? Not even close. People will always nee
d to buy houses and live inside them (that’s rather obvious), the only difference is now there are more houses than needed for this market and hardly anyone can afford one. Has it gotten that bad out there? Afraid so. Is it getting better? It certainly seems that way.

THOSE THAT GARNER BUSINESS BY FLIPPING OLD, UNLOVED AND NEGLECTED PROPERTIES HAVE FOUND THAT A HOUSE IN MINT CONDITION WILL SELL MUCH BETTER AGAINST A HOUSE THAT’S LAID UNOCCUPIED SINCE IT WAS CONCEIVED. AND THE SECRET TO ACQUIRING AND FIXING UP SUCH PROPERTIES IS ARIZONA HARD MONEY.

Getting a loan approved by a hard money lender Arizona is relatively simple. These types of loans are backed by private hands and are usually approved within days, without credit or background checks, unlike more laborious and delayed (not to mention often rejected, especially lately) loans from major banks or mortgage companies. If you aren’t looking to move in but simply want to renovate and resell for a profit, this is the path to consider.

Because of people daring enough to tackle such challenges, many people are finding hard money is the way to go in order to sell a nice looking house. And as the market only seems to improve, there’s a lot more confidence being built in such projects. All it takes is a little research and a little faith in economics. Everything will bounce back in the end.

arizona hard money

It’s still possible to make cash in the real estate market with private money lenders Arizona

It’s still possible to make cash in the real estate market with private money lenders Arizona

In many of the metropolitan Phoenix area’s suburbs, there are dilapidated and neglected homes that were hastily built in the infamous real estate bubble. We’ve hardly even recovered from the dot com bubble and now there’s this? What next, right? And while suburbs like Surprise, Peoria, Gilbert, Chandler and Avondale are suffering, there’s still a demand for houses, however small it may be.

SO IF YOU’RE A REAL ESTATE AGENT IN THIS DAY AND AGE, IT MAY BE NEXT TO IMPOSSIBLE TO PUT BREAD ON YOUR FAMILY’S TABLE. THAT’S WHY MANY ARE SWITCHING TO HARD MONEY LENDERS ARIZONA TO FIND WAYS TO MAKE ENDS MEET. ALL THEY DO IS APPROACH SOME KIND OF PRIVATE MONEY LENDERS ARIZONA AND GET AN NEARLY INSTANT APPROVAL FOR THEIR LOAN, THEN THEY START ON HIRING THE LOCAL PAINTERS, LANDSCAPERS AND OTHER FIXERS AND CLEANERS TO HELP FLIP THE PROPERTY. THIS IS HAPPENING ALL AROUND YOU, IN NEIGHBORHOODS ACROSS THE COUNTRY, BECAUSE A DECENT HOUSE THAT STANDS OUT ABOVE THE REST OF THE DECAYING CRAP IS ALL YOU CAN REALLY SELL.

And if you do sell it, which is still possible, believe it or not, you can make yourself a very healthy profit. It’s not rocket science – it’s just private mortgage loans. It may be more difficult to do this than it was even five years ago, but it’s not impossible. After all, anything worth doing is worth doing right and hard work usually pays off. Keep that in mind when you’re considering how to keep your real estate business afloat.

private money lenders arizona

A different and quick type of loan — a hard money loan Arizona

A different and quick type of loan — hard money loan Arizona

ONE OF THE EASIEST AND QUICKEST LOANS AVAILABLE TO YOU TODAY IS A HARD MONEY LOAN ARIZONA.

While everyone is aware the housing market is rougher than rough, even rougher than sandpaper toilet paper, there’s still a niche market where buyers are obtaining property, fixing it up and selling it for a profit. The only problem with this plan is that most banks and mortgage companies are wary of approving such loans. First of all, they want more long-term buyers out there and not some business-like entrepreneur that bends over backwards “experimenting” with tiling and painting and roofing. Second, most banks and mortgage companies are wary of  approving anyone period. The market is so beaten and trodden down, there’s hardly any chance worth taking a risk for, because they’ll just get further and further in debt.

So one of the primary solutions is to just choose a private money lenders Arizona. These guys hardly do background checks or credit checks because they’re fully aware your plan is just to flip a property quickly. Since you’ll only be paying on the interest, doing nothing to the equity of the property really, it makes sense for everyone involved.

These things are also called asset-based loans or bridge loans. However, asset-based lending is a term more frequently used in conjunction with commercial real estate financing as opposed to simply hard money which is used for residential as well as commercial finance.

hard money loan arizona

Arizona hard money — a Fixer upper project for the whole family!

Arizona hard money a Fixer upper project for the whole family!

Part of the reason people had so many kids years and years ago was so they could help on the farms when they became of age. This is also why summers were off from school, when farm work was most crucial. Today, people still have many kids either because of religious reasons (i.e. they’re Mormon or Catholic) or because they don’t really understand birth control as much as they love children.

But how do you keep your kids motivated and off the street and away from drugs? Well, back before child labor laws, you made them work. Nowadays, kids are so lazy, always watching TV, it’s no wonder they never move out or get decent jobs, even after attending a university for four years. One way to circumvent this is to put them to work on your house. In fact, why not make it you’re entire business? You could acquire broken down, beat up, old properties and renovate them, selling them for a profit. They call this “flipping” in the market.

UNFORTUNATELY, PROJECTS LIKE THIS AREN’T USUALLY SMILED UPON BY THE BANKS – NOT BECAUSE YOU’RE INVOLVING YOUR KIDS, BUT BECAUSE ONLY GETTING A LOAN FOR A FEW MONTHS OR A FEW YEARS DOESN’T REALLY HELP THE BANK OUT AT ALL. YOU MIGHT WANT TO CONSIDER SOMETHING LIKE A PRIVATE MONEY LENDERS ARIZONA. THESE KINDS OF LOANS HAVE A HIGH APPROVAL RATE AND GET YOUR FOOT IN THE DOOR WITH LITTLE OR NO MONEY DOWN. YOU’RE MOSTLY JUST PAYING OFF INTEREST ANYWAY. THAT’S WHY THESE THINGS CALLED ARIZONA HARD MONEY BUILD CHARACTER – A GREAT THING TO ROLE MODEL FOR YOUR KIDS!

arizona hard money

How hard money lenders Arizona will benefit Arizona

How hard money lenders Arizona will benefit Arizona

SO MANY HOUSES ACROSS THE BEAUTIFUL GRAND CANYON STATE LAY DORMANT AND EMPTY, SLOWLY WHITTLING AWAY IN THE IMMENSE HEAT. SO IF YOU’RE INTO REAL ESTATE AND WANT TO SELL SOME OF THESE PROPERTIES, YOU’RE GOING TO NEED A LOT MORE THAN JUST A REGULAR LOAN. TA-DA! THAT’S WHY THERE’S HARD MONEY LENDERS ARIZONA!

If you’re like the many millions of people living in Arizona and you want to be able to sell and resell a house, then perhaps familiar, tired banking isn’t for you. Perhaps consider hard money lending Arizona because that’s a unique and often beneficial alternative. MostArizona hard money lenders provide coverage for the entire state, from Prescott to Flagstaff to Tucson to Scottsdale to Tempe to Phoenix and everywhere in between.

If more and more people took pride in their work and actually helped out around neighborhoods (without the aid of home owner’s associations, by the way – those organizations are completely worthless) then the real estate market might just pick up in Arizona. If that happens, and more people move here (including but not limited to immigrants of all kinds) then the rest of the economy would also improve. And then, we could all go back to the days before the 2000’s and relax with our economic surpluses. This would serve as a welcome model for the rest of the United States, who would hopefully follow suit and then, unemployment would go way, way down and production would go way, way up. So do your part!

hard money lenders arizona

Hard money lenders Arizona work in mysterious ways

Hard money lenders Arizona work in mysterious ways

As the economy struggles to stay afoot and banks continue tightening their wallet folds, hard-money lenders are pouncing on the opportunity to lend to shunned borrowers and it’s often unexpected sources you’ll find, that is, not the major financial firms you’d expect.

SO HOW DOES IT WORK? THROUGH PEOPLE CALLED BROKERS, HARD MONEY LENDERS ARIZONAOFFER HIGH-INTEREST, SHORT-TERM LOANS TO BORROWERS WHO CAN’T GET TRADITIONAL BANK FINANCING, INCLUDING THOSE KINDS OF INVESTORS AND PEOPLE WITH BADLY SPOTTY CREDIT, LIKE AN APPLE THAT’S BEEN IN YOUR LUNCHBOX WAY TOO LONG. THE INTEREST RATE CAN BE IN THE HIGH TEENS — COMPARED WITH LESS THAN 5% FOR BANK MORTGAGES — WHILE THE LENGTH CAN BE AS SHORT AS A FEW MONTHS. PRIVATE MONEY LENDERS ARIZONA TEND TO NOT FOCUS MUCH ON A BORROWER’S CREDIT SCORES. THEY CARE MORE ABOUT ASSET VALUATIONS AND LOAN-TO-VALUE RATIOS. MANY LENDERS WON’T LEND MORE THAN 50% TO 70% OF THE HOME’S VALUE, WHILE BANKS WILL LEND AS MUCH AS 80% AND GOVERNMENT-BACKED LOANS CAN GO AS HIGH AS 96.5%.

Because there is little bureaucracy when compared with big banks, deals can be approved and closed in just a few days. Does that sound like an opportunity you’d be interested in? Most people would be.

Most lenders will say that defaults are low, in part because borrowers have plenty of equity tied up in the properties themselves. When a borrower encounters trouble making payments, some lenders will extend the due date or charge late fees to avoid initiating foreclosure proceedings. And that’s the way the cookie crumbles.

hard money lenders arizona

In this economy, consider all your options financially with Arizona hard money

In this economy, consider all your options financially with Arizona hard money

Indeed, tight lending these days creates opportunities for hard-money lenders like Jesus Cortez, a Phoenix lawyer who has funded 19 mortgages for up to $112,000. The mortgages carry interest rates of 14%. For lenders, the profit potential is much greater than with traditional lending, an unofficial industry spokesman. If you lend on a piece of real estate, you can brag about it, drive by it, smell it, take pictures of it.

That’s why private money lenders Arizona is such a popular tool these days – even people who have lost it all in the recent real estate bubble bursting can stand proud and say, “My credit is terrible, but my ethics are not!”

Typically, individual hard-money lenders are matched with borrowers through loan brokers who make a commission on each deal. As with traditional mortgage brokers, they charge points and fees, which can be several thousand dollars per transaction. Some loans are set up with low monthly payments and a balloon payment due at the end of the loan term — a feature they share with some of the mortgages that contributed to the financial bust.

BUT EVEN IF THE ECONOMY DOES RECOVER, IT’S NOT LIKELY THAT ARIZONA HARD MONEY WILL GO AWAY OVER NIGHT. SOME OF THE BENEFITS THAT WILL ALWAYS BE THERE INCLUDE FAST FUNDING WITHIN 24 HOURS, LOAN VALUES UP TO 80%, INVESTORS OR FLIPPERS ARE TREATED FAIRLY AND ACCEPTED AND INTEREST ONLY PAYMENTS ARE ENCOURAGED. MARKETS ALWAYS CRASH AND RECOVER – TRENDS LIKE THIS TEND TO STAY ON TRACK, EVEN WHEN TIMES ARE GOOD.

arizona hard money

A quick and easy guide to finding the correct hard money loan Arizona

A quick and easy guide to finding the correct hard money loan Arizona

Hard money loans can be a great way to finance a specific or fun real estate investment but the loan application process can be quite different from traditional bank loans. Many potential hard money lenders Arizona aren’t prepared to apply for a loan. Don’t be one of the unprepared borrowers and you can do that by following these easy, simple steps.

Find the right project. Arizona hard money is collateralized with the property in question so finding the right one is very important. A property valued in the right range may not be in a suitable neighborhood. Remember, rule number one is avoid the ghetto – even if you flip a mansion, no one wants to live next to a crackhouse. Hard money lenders want to know that the property and the location are a safe investment.

WHO CHOOSES WHO WHEN PICKING A HARD MONEY LOAN ARIZONA?

Also, always have an exit strategy. Hard money loans are typically short term and usually are 1-2 years in length. The lender always wants to know that the borrower has a solid plan for either selling or refinancing the property long before the term is up. Knowing how you plan to repay the loan is a key factor in a hard money lender’s decision. If you are doing this all wily nily, you’re going to look bad in the eyes of everyone and no one wants that.

Finally, have the proper documents ready. Hard money loans are primarily secured within the property but also knowing about the borrower is very important. You may be asked about credit, income and assets. Like a boy scout, be prepared

hard money loan arizona

Getting your eggs into other baskets, then counting the hard money lender Arizona

Getting your eggs into other baskets, then counting the hard money lender Arizona

One of the hardest challenges in the real estate “flipping” business (when you buy a property solely to fix it up and resell it for a profit) is getting approved for a loan. Most banks or mortgage companies will turn their nose up at you because they’re well aware this is a short term project and although probably a labor of love, not the kind of long term investment they desire.

YOU’LL PROBABLY ALREADY CONSIDER FINDING A HARD MONEY LENDER ARIZONA, BUT EVEN THAT ROUTE ISN’T ALWAYS EASY PEASY. EVEN IF YOU CAN GET APPROVED IN APPROXIMATELY 24 HOURS WITHOUT MUCH OF A CREDIT CHECK OR BACKGROUND CHECK, YOU’LL WANT TO DO YOUR HOMEWORK.

Make sure you understand the history of the property. What happened to it that got it into it’s decayed state and why. For example, if a McDonald’s closed, it may be because property taxes were too high or the neighborhood was too rough or poor to afford visiting the place. You’ll want to be sure that the decay is more superficial than complete and utter destruction of the property.

Talk to contractors. Get a few estimates on what it will cost to paint, refinish, tile and otherwise repair the property. If you head into the private money lenders Arizonaoffice with information on repairs needed, a little history and an estimate of the costs involved, you’ll be that much more likely to get approved. Everyone likes someone knowledgeable about their job, so do a little extra research and then make offers.

hard money lender arizona

Real estate flipping isn’t just a job – it’s a passion of private money lenders Arizona

Real estate flipping isn’t just a job – it’s a passion by Private money lenders Arizona

Just like with any business, bank or mortgage company, hard money lenders Arizona want to see that you’re interested in a particular project. Always return calls promptly and get the information they need in a timely manner. Hard money lenders keep less capital on hand than banks. If you delay in getting back to a hard money lender, they may lend their assets to another borrower.

The first step to being the first in line to get approved for one of these loans is to so a deep, penetrating interest in the project. Let them know you’re not just in it for the money. You don’t want to just renovate an old nursing home, you want to give it a modern feel and make sure the community at large is prepared for such a great benefit to the area.

SHOWING THIS KIND OF ENTHUSIASM SHOWS PRIVATE MONEY LENDERS ARIZONA THAT YOU’RE COMMITTED TO THE PROJECT AND WILL SEE IT ALL THE WAY THROUGH.

And if it appears to be some kind of charitable act that will make the world at large a better place, they’ll be all the more ready to join your team and fund your project. After all, everyone loves to feel like they’re doing some good in the world.

Also, don’t forget to do a little homework. Make sure you know the potential property inside and out, including but not limited to talking to contractors and getting estimates on costs and repairs. You’ll really show them what it’s all about if you’re passionate and knowledgeable.

private money lenders arizona

Speaking the language of hard money lenders.

Speaking the language of hard money lenders.

If you are a borrower or mortgage broker, the chances you’ll be someday needing to deal with private money lenders Arizona increases every day, especially in this economy. At some point during your search for a loan, you’re going to need to consider the many options hard money offers.

UNFORTUNATELY, OUTSIDE OF REAL ESTATE PROFESSIONAL THAT DEAL WITH HARD MONEY LENDERS ARIZONA ON A REGULAR DAY TO DAY BASIS ARE NOT GOING TO BE AS SKILLED AT COMMUNICATING AND SELLING THESE LENDERS ON THEIR CREDIT WORTH. IT WILL HELP YOU AVOID SOME OF THE CONFLICTS YOU’LL FACE IF YOU SIMPLY UNDERSTAND THEIR LANGUAGE.

So why is it so difficult to communicate with hard money lenders? They’re acrafty bunch, like a pride of witches, because almost none of them are the same. Like snowflakes, they’re all different.

What works for one lender won’t always work for another, and they interpret information in a multitude of different ways. Going around in circles with private lenders can make your head spin clean off and eventually make you think that getting approved for a hard money loan is more difficult than pushing a camel through the eye of a needle. But what if you could greatly increase the odds that your loan request will not only get a favorable look from almost all hard money lenders but also increase your overall odds of getting an approval?

It’s simple – show some good character, be honest and forthright and you’ll do splendidly.

hard money lenders arizona