Fixer Uppers and Foreclosures using Arizona hard money

Fixer Uppers and Foreclosures using Arizona hard money

Fixer-uppers and foreclosures are what most people think of when flipping comes to mind. But it is possible to flip a house without doing any work on it at all. During the real-estate boom of the early to mid-2000s, flippers could buy new construction homes, hold on to them for a few months, then sell them at a profit. Now there’s a trend toward trying to flip houses in new, high-end developments in outlying suburbs. If commercial and retail development. like big-box superstores, spring up, it could bring in droves of residents. But if the situation isn’t perfect — if gas prices rise, for example, causing home buyers to shy away from big commutes — this kind of flipping becomes pretty risky.

So why do people flip houses? And what does the average buyer — and seller — need to know about flipping before investing? How much money can be made by flipping a house? And what kind of moral line do you walk by paying bottom dollar to people who have lost their homes? We’ll address all of these issues as we investigate the art of house flipping.

If you watch home-and-garden cable channels, it looks like everyone is flipping houses, especially in Arizona.   “Flip This House” and “Flipping Out” are just a couple of the many cable offerings that sing the praises of buying a house and quickly selling it at a substantially higher price. With this many Arizona Hard Money lenders have been popping up as well, but house-flipping is more like a basic investing lesson:

BUY LOW, SELL HIGH REGARDLESS OF WHAT ARIZONA HARD MONEY LENDER YOU GO WITH.

You want to find a property that is undervalued or in just bad enough shape that you can invest minimal time and money in it before selling it. There are people who have made careers out of buying distressed properties and quickly turning them around for a profit. However, in a real-estate bust, things aren’t quite so easy.

arizona hard money

Budgeting is Key for homesflipping

arizona hard money - Budgeting is Key for flipping homes using Arizona hard money

The first piece of advice that most flipping experts give: Make a budget. While finding the perfect place and knowing your skill set (or having friends with skill sets) is important, budgeting is where new flippers most often fail. So where to start? First, get financing from arizona hard money.

  THIS STEP WAS FAIRLY EASY WHEN SUBPRIME MORTGAGES LIKE THE ONES AT ARIZONA HARD MONEY LENDERS WERE HOT.

These mortgages allowed buyers to pay little or no down payment. In exchange, they were socked with higher interest rates — but when you’re planning on owning the house for only a few months, that’s a minor issue, and Arizona Hard Money lenders can be a quick fix. When the market is flat, however, obtaining a mortgage for an investment property is more difficult, and sky-high interest rates empty investors’ wallets when a property sits on the market.  As a result, cash plays a much bigger role in getting that flip started. The bigger the down payment you can afford, the lower the interest rate. And, of course, it helps to have cash around for fixing up the flip.  If you’re planning to buy a new-construction home, budgeting can be simple. It’s just like buying a home you actually plan to live in — you need to cover the mortgage, insurance, taxes, real-estate agent and lawyer’s fees, and you can do it with arizona hard money. However, in a softening market, the supply of houses is much greater than demand, so you may own that property for longer than you plan to.

arizona hard money

Fixer-Upper Budgets for Flipping Homes using Arizona hard money

Fixer-Upper Budgets using Arizona Hard Money

If you’re working on a fixer-upper, the budget starts to grow when you consider the renovations you’ll need to make. According to most experts, you should add 20 percent to your estimate for the final cost. If you overestimate, you get a surprise windfall — but if you underestimate, you get stuck with unexpected bills.

HOWEVER MANY OF THESE COST CAN BE BUILT INTO AN ARIZONA HARD MONEY LOAN.

Structural improvements — like plumbing, electrical, insulation, pest control, and HVAC — are typically the least sexy but most important improvements a flipper can make. New hardwood floors and coat of paint may get buyers in the door, but a termite problem can kill a deal quickly. If your technical skills are lacking here, you’ll have to figure in the cost of labor, too.  Most real-estate agents advise fixing up the kitchen and bathrooms for the best return on your investment. In addition to the structural changes, this can include new cabinetry, counters, hardware, sinks, backsplashes, appliances, floors and lighting. Kitchen upgrades can be expensive, but they make a big impression like granite countertops and wine storage, for example. You could also decide to go green, which can add value to the house when the improvements are marketed as money-savers. Obviously, you’ll keep costs down if the house is in good structural shape and just needs updated paint and carpets — but things can quickly get pricey, especially if you’re using contractors and outside labor.  Again in Arizona make sure to utilize an Arizona Hard Money loan to help get the funds to pay contractors and outside labor.

arizona hard money

The Appeal of Arizona hard money is great for home flipping.

Arizona hard money is great for home flipping.

A huge aspect to consider when flipping a home is curb appeal — the outside of the house. You might need to paint, landscape and fix up the driveway, which adds to the budget. If you’ve bought in a pricey neighborhood, mowing the lawn and repairing the fence may not be enough — there could be homeowners’ association fees.

IN UP-AND-COMING NEIGHBORHOODS, YOU MIGHT HAVE TO BUDGET FOR SECURITY MEASURES. ONCE YOU HAVE YOUR BUDGET, AND YOUR ARIZONA HARD MONEY LOAN YOU CAN CHOOSE YOUR SPOT TO BUY YOUR HOME.

Once you’ve decided on what kind of house to flip — new construction, a fixer-upper or a foreclosure — you need to figure out the neighborhood. Don’t skimp on the research here. Make sure you really investigate the area — drive around during the day and at night, check recent sale prices and find out if any other flippers are sitting on empty houses.  If you’ve decided to flip a new home, your options are somewhat limited to what’s being built in the area — typically in housing developments. Some communities also have restrictions on buyers, requiring them to live in the house so the community doesn’t end up a ghost town.  If you’ve opted to buy a home in foreclosure, you’ll be buying from a lender — foreclosed homes are also known as REOs, or real estate owned by the lender. Purchasing an REO is a lengthy process, typically six to eight months. This is because for a bank to foreclose on a home, it must file court papers against the homeowner, which takes awhile. If it’s an auction, you’re ruled by that timetable. And because the home is sold “as is,” banks might not be as willing to hand out a loan.  In this case definitely findHard Money Lenders Arizona, because they will hand out a loan for a properly that need renovations and work.  If you’re determined to buy a house in foreclosure, there are plenty of Web sites that list REO houses, often for a fee. And many lenders, like Fannie Mae, list the homes they have in foreclosure. A warning here: Many of these sites will let you search for homes anywhere in the country, but experts agree that one of the biggest mistakes flippers make is buying a house sight-unseen. The photo of the house may be pretty, but there’s no way to guarantee anything else. It doesn’t give you any clues about the neighborhood, and there’s no way of knowing how old the picture is.

arizona hard money

How to Keep your budget when flipping homes with Arizona hard money

How to Keep your budget when flipping homes with Arizona hard money

Budgets can balloon quickly on fixer-uppers. If you decide to invest in one, you need a high tolerance for risk, an exit strategy, and an Arizona Hard Money loan to help you cover costs. This is the consensus from most home remodeling experts; You can make more money on a really cheap house that you turn into a nice house than a nice house that you turn into a premium house. All those expensive upgrades don’t offer nearly as much return on your investment as fixing a cracked foundation does. For most people, this means hiring workers, or having a lot of help.  The more people you get involved, the more coordination is required. You’ll have to keep very close tabs on plumbers, electricians and handymen — or hire a general contractor (which means a big increase in your budget).  Think local. If you’re remodeling a house in Massachusetts, use clapboard, not adobe bricks. The closer to home you stick for materials, the more experts you’ll be able to find to help you install them.  Don’t overestimate your work. Sure, that paint job looks nice, but is it really worth a $20,000 markup on the property?

OVERPRICING YOUR PROPERTY COULD JUST LEAVE YOU WITH A HOUSE THAT PEOPLE ARE WARY OF BECAUSE IT’S BEEN ON THE MARKET TOO LONG AND WITH AN ARIZONA HARD MONEY LOAN IT IS KEY TO SELL THE PROPERTY QUICKLY SINCE YOU DON’T WANT TO PAY THE INTEREST ON YOUR HIGH INTEREST LOAN.

Don’t get ahead of yourself. First-time flippers may see dollar signs when they think about buying multiple properties, but problems can quickly turn into bankruptcy if you’re using one house’s equity to pay for another’s repairs. Plus, each home requires attention, and unless you’re quitting your day job — which the experts also don’t recommend for newbies — you will probably have plenty to do for one house without thinking about your next flip.  However long you think the renovation will take and whatever you estimate it will cost, just understand that it will probably be much costlier and more time-consuming.  Nearly every upgrade you skimp on will haunt you, remodelers warn. From cheap carpet to cheap electricians, quality of workmanship is something that flippers cannot fake in a softening market.

arizona hard money

What is Arizona Hard Money?

What is Arizona Hard Money?

A Arizona hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. Hard money is essentially an asset-based loan with a high interest rate. The credit score of the borrower is not important, as the loan is secured by the value of the collateral property.  Many hard money mortgages are made by private investors, generally in their local areas. Typically, the biggest loan one can expect would be between 65% and 70% of the property value. That is, if the property is worth $100,000, the lender would advance $65,000–70,000 against it. This low LTV (loan to value) provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.

ARIZONA HARD MONEY LOANS ARE COLLATERALIZED AGAINST THE PROPERTY FOR WHICH THE LOAN IS MADE. OUR PRIVATE LENDERS FUND IN THE FIRST LIEN POSITION, MEANING THAT IN THE EVENT OF A DEFAULT, THEY ARE THE FIRST CREDITOR TO RECEIVE REMUNERATION.

Many Arizona Hard Money loans are based on a percentage of the “quick-sale value” or “purchase price at auction” of the subject property depending on the specific lender. This is called the loan-to-value or LTV ratio and typically hovers between 60 and 70% depending on which of our lenders you choose to use for your purchase. For the purpose of determining an LTV, the word “value” is defined as “today’s purchase price” for some of our lenders and “current market value” for others. Your final purchase price at auction would dictate which of our private hard money lenders we would recommend to finance your purchase and finalize the transaction. Private hard money lenders fund the transaction in 24 hours in accordance with ARS statutes associated with purchase of homes at trustee sales.

arizona hard money

Hard money lenders Arizona – the basics, revisited

Hard money lenders Arizona – the basics, revisited

So let’s talk about some of the many benefits to a hard money loan. But first, let’s go over the basics. You may recall that a hard money loan is a form of asset-based borrowing that deals with real estate financing. Some borrowers also pursue Arizona hard money loans when their financing needs are more pressing and when more traditional and conventional financing sources cannot respond.

SO, IN MANY CASES A HARD MONEY LENDERS ARIZONA WILL OFFER A SMALLER LOAN SIZE BASED UPON A LOWER LOAN TO VALUE RATIO. THIS ONLY MEANS THEY MAY OPT TO LOAN NO MORE THAN 65% OF THE PROPERTY VALUE. THEREFORE IT IS MORE COMMON FOR REAL ESTATE INVESTORS TO OFFER ADDITIONAL REAL ESTATE AS COLLATERAL IN ORDER TO OBTAIN A LARGER LOAN AMOUNT. THIS IS KNOWN AS CROSS-COLLATERALIZATION. ADD THAT TO YOUR GLOSSARY.

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 donuts and make you feel at home so when you discuss all the grimy details of this loan type, you don’t feel uncomfortable.

Don’t think too much when dealing with these types of loans. Remember, they are designed to be simple, even when they cost a little more than the average guy down the street. Furthermore, don’t let yourself be worked around by people who use a bunch of fancy words to confuse the snot out of you. You want your hard money lender to be someone you can trust just like your friends, because you’re dealing with some very risky number crunching.

hard money lenders Arizona

The quickest and easiest guide to finding the right hard money lenders Arizona

hard money lenders Arizona - The quickest and easiest guide to finding the right hard money lender

Most of the time, depending on your situation, hard money loans can be a great way to finance a specific real estate investment but the loan application process can be quite different from traditional bank loans. There are some different tricks and tips for you to learn.

MANY POTENTIAL HARD MONEY LENDERS ARIZONA ARE PREPARED TO OFFER YOU A LOAN IF YOU’VE GOT THE MOXIE FOR ONE, BUT YOU HAVE TO BE PREPARED. DON’T BE ONE OF THE UNPREPARED BORROWERS AND YOU CAN DO THAT BY FOLLOWING THESE EASY, SIMPLE STEPS.

First, 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 very suited suburb. Remember, rule number one is avoid the crack houses – even if you flip a mansion, no one wants to live deep in the ghetto. Just like you, hard money lenders want to know that the property and the location are a safe investment.

Also, always have an exit strategy. Hard money loans are typically short and usually just a few years in length. The lender will want to be reassured to know that the borrower has a solid plan for either selling or refinancing the property way 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. Don’t jerk your lenders around. You wouldn’t want that done to you.

hard money lenders Arizona

Flipping hard money loans the right way

Hard money loans - Flipping hard money loans the right way

One of the largest challenges in the real estate “flipping” business (you know, when you buy properties only to fix ‘em up and resell ‘em for a nice profit) is getting approval for a loan. Most banks or mortgage companies will turn their nose up at you because this is all to familiar to them. They know 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 has it’s bumps in the road. Even if you can get approval really quick, sometimes as little as 48 hours without much of a credit check or background check, you’ll want to do your homework.

ALWAYS, ALWAYS 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 EVERYTHING IN BETWEEN. LIKE A GIRL SCOUT, BE PREPARED.

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

Also, chat with 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 Arizona office with information on restorations needed, a little history and an estimate of the costs involved, you’ll be that much more likely to get approved. Good luck.

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Thinking hard about Arizona hard money lending

arizona hard money - Thinking hard about Arizona hard money lending

The particular ragged edges of the housing market hasn’t eradicated the sales of houses, but it’s true that it’s not easy these days. People still buy houses, of course, but nowadays flipping properties is far more popular.

That’s why private money lenders Arizona are 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 there’s no reason why I can’t make a profit!”

Typically, individualized hard-money lenders are paired with borrowers through loan brokers who then receive a commission on each deal. As with traditional mortgage brokers, everyone charges points and fees, which can be several thousand dollars per transaction, so make sure you have that kind of cash on hand.

Some loans are made up with light monthly payments and a ballooning 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 – AFTER ALL IT EXISTED BEFORE THE ECONOMY GOT BUMPY. SOME OF THE BENEFITS THAT WILL ALWAYS BE THERE INCLUDE FASTER FUNDING, LOAN VALUES UP TO 80%, SO THEREFORE INVESTORS OR FLIPPERS ARE TREATED FAIRLY AND INTEREST ONLY PAYMENTS ARE ENCOURAGED. MARKETS ALWAYS CRASH AND RECOVER – TRENDS LIKE THIS TEND TO STAY ON TRACK, EVEN WHEN TIMES ARE GOOD. LIKE WITH EVERYTHING, IT’S BEST TO GET IN ON SOMETHING WHEN THE GOING IS GOOD AND NOT WHEN IT’S TOO LATE.

arizona hard money

The future benefits of the hard money lenders Arizona market

hard money lenders arizona - The future benefits of the hard money lenders Arizona market

IT REALLY IS A SHAME. MANY HOUSES ACROSS THE GORGEOUS SOUTHWESTERN STATE OF ARIZONA LAY QUIET AND EMPTY, SLOWLY ROTTING AWAY AS TIME EVER MARCHES ON. SO IF YOU’RE INTO REAL ESTATE AND WANT TO RESELL SOME OF THESE PROPERTIES, YOU’RE GOING TO NEED A LOT MORE THAN JUST AN ORDINARY LOAN. TA-DA! THAT’S WHY THERE’S HARD MONEY LENDERS ARIZONA!

If you’re like the millions and millions of folks living in Arizona and you want to be able to sell and resell a house, familiar, tired banking probably isn’t for you. You should possibly consider hard money lending Arizona because of its unique advantages as a beneficial alternative. Most Arizona hard money lenders provide coverage for the entire state, from Yuma to Flagstaff to Scottsdale to Tempe to Phoenix to Tucson and everywhere in between.

If only a few more people took pride in their work and actually helped out around communities (without the aid of home owner associations, by the way – those clubs are completely worthless) then the real estate market might just pick up in this state. People would actually want to live here. If that were to happen, and more people moved here (including immigrants of all kinds that are taken for granted) 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 a great big economic surplus. 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

Getting your family business started with hard money lending Arizona

Getting your family business started with hard money lending Arizona

One of the main reasons folks had so many kids generations ago was so they could help on the plantations when they became old enough. Fun fact: this is also why summers were taken off from school, when farm work was at its most demanding. Today, folks still have many kids either because of religious backgrounds (i.e. they are from a Mormon or Catholic church) or because they don’t really understand birth control, as simple as that sounds to normal people.

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

THAT’S WHY HARD MONEY LENDING ARIZONA IS SO POPULAR THESE DAYS!

UNFORTUNATELY, FLIPPING PROJECTS LIKE THIS AREN’T USUALLY APPROVED  BY THE BANKS – NOT BECAUSE YOU’RE INVOLVING YOUR KIDS, BUT BECAUSE ONLY GETTING A LOAN FOR SUCH A SHORT PERIOD OF TIME DOESN’T REALLY HELP THE BANK OUT AT ALL. YOU MIGHT WANT TO CONSIDER SOME KIND OF THING LIKE A PRIVATE MONEY LENDERS ARIZONA. THESE KINDS OF LOANS HAVE A HIGHER APPROVAL RATE AND GET YOUR FOOT IN THE DOOR WITH LITTLE OR NO CREDIT OR BACKGROUND CHECKS. YOU’RE MOSTLY JUST PAYING OFF THE INFLATED INTEREST. THAT’S WHY THESE THINGS CALLED ARIZONA HARD MONEY ARE KNOWN TO BUILD CHARACTER– A GREAT THING TO ROLE MODEL FOR YOUR KIDS!

hard money lending arizona

Need instant approval? Private money lenders Arizona are the answer.

private money lenders arizona - Need instant approval? Private money lenders Arizona are the answer.

These days, one of the easiest and quickest loans available to consumers and real estate gurus is a hard money loan Arizona. While everyone is aware the housing market is rougher than sandpaper boxing gloves in a boxing match, there’s still a niche market where buyers are grabbing up property, repairing it up and selling it for a profit. The only problem with this plan is that normally banks and mortgage companies are wary of approving loans for such projects.

First of all, they want more long-term buyers that are out there and not some business-minded entrepreneur that has a passion for household repairs involving tiling and painting and roofing. Second, most banks and mortgage companies are wary of approving anybody period. The market is more than beaten and stomped all over, there’s hardly any chance worth taking a risk, 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. AND THEY LIKE THAT! 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.

private money lenders arizona

Arizona Hard money is keeping the real estate market afloat

Arizona Hard money is keeping the real estate market afloat

While it’s very true the real estate bubble has left a bad smell in everyone’s nostrils, the market is still far from completely overcooked. Oversaturated, perhaps, but deceased? Not even close, buddy. People will always need to buy houses and live inside them (that’s just common sense), the only difference is right now there are more houses than needed for this market and everyone is broke as broke can be so that means anyone can afford one. Has it gotten that bad out there? Afraid so. Is it getting better? It certainly seems that way, according to the president.

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

Getting a loan approved by arizona hard money is relatively simple. These types of loans are backed by private men and women and are usually approved within hours if not days, without credit or background checks, unlike more drawn out and lengthy processed (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 method 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

For Arizona hard money lenders, flipping a property is pretty simple.

For Arizona hard money lenders, flipping a property is pretty simple.

A lot of difficult work and unforeseen challenges can go into flipping a property – that is, acquiring a beaten up, worn down house or business, repairing and upgrading the whole thing and then selling it for a profit.

There’s so much to consider – for one, the amount of time it’ll take, the immigrants you’ll be paying to fix dents, tile floors, fix plumbing and garnish the trims. Then there’s the anxiety over the selling itself with such a property. Even if you completely renovate a McMansion and try to resell it, will anyone be able to buy it in these rough markets? Well, as the economy and the stock market steadily rise, the answer seems to be yes, so long as you’re patient and know what you’re doing.

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

THE KEY TO UNDERSTANDING THIS GROWING TREND OF ARIZONA HARD MONEY IS ESSENTIAL TO ANYONE TRYING TO MAKE A DOLLAR IN THE REAL ESTATE BUSINESS, 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

Hard money – despite the name, it’s easy, not hard.

Hard money – despite the name, it’s easy, not hard.

YOU PROBABLY WOULDN’T EVEN KNOW IT UNLESS SOMEBODY TOLD YOU OR YOU WERE A SUPER SMART TACTICIAN OR KNEW A LOT ABOUT INVESTING, BUT HARD MONEY LENDERS ARIZONA IS ACTUALLY QUITE EASY. IT’S SO EASY, EVEN A REALLY OLD PERSON COULD FIGURE IT OUT. IN FACT, MANY RETIRED FOLK IN THE FLIPPING BUSINESS ALREADY KNOW ALL ABOUT THIS.

The first part, perhaps the hardest part (no pun intended) is finding the right private money lenders Arizona. They can be anywhere, even someone who hasn’t considered offering a loan like this before 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. If they don’t, that makes it harder. The internet is key, right? Then, it’s simply a matter of contacting them with your idea or investment offer. They’ll probably be really friendly and invite you on a lunch date where you can discuss things in a relaxed setting.

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 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

Finding Arizona Hard Money Is Easy

Finding Arizona Hard Money Is Easy

TO FIND ARIZONA HARD MONEY, YOU DON’T HAVE TO LOOK TOO FAR. THERE ARE MANY PRIVATE LENDERS WHO WANT TO HELP. IN THIS ECONOMY, MANY PEOPLE JUST DON’T HAVE THE CREDIT SCORE IN ORDER TO BE ABLE TO QUALIFY FOR A CONVENTIONAL LOAN WITH A BANK. AS LONG AS YOU HAVE ENOUGH EQUITY IN THE HOME YOU ARE PLANNING TO BUY, YOU WILL BE ABLE TO FIND A HARD MONEY LENDER ARIZONA TO HELP. FOR THE MOST PART, ARIZONA HARD MONEY IS USED BY PEOPLE WHO ARE INVESTING IN REAL ESTATE. THEY FIND HOMES THAT NEED TO BE FLIPPED, AND AFTER FLIPPING IT THEMSELVES, THEY MAKE A GREAT PROFIT. THE ONLY PROBLEM IS THAT MOST NEW REAL ESTATE INVESTORS DON’T HAVE THE INITIAL INVESTMENT MONEY TO PURCHASE THE HOME. THAT’S WHY NEED TO FIND A HARD MONEY LENDER ARIZONA.

It’s a great benefit for those who need investment money now and don’t qualify because of their credit scores. An Arizona hard money lender probably won’t care about your credit score, though they may give you a lower interest rate should you have a higher score. There is also not as much red-tape to go through to get Arizona hard money, so you are able to have the money in-hand very quickly. Banks can make you wait for 30 days—which may be too late for you. The down-side of going through a hard money lender Arizona, is that you will have a higher interest rate than you would with a conventional bank loan. But if you are using it to invest, you just have to do the math and make sure you make a profit that is worth it to you. The nice thing is that you can probably buy and flip an investment property completely with Arizona hard money, without any out-of-pocket expense. It’s a great way to start in real estate investing!

hard money