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.

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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.

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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!

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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!

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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.

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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.

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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

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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.

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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.

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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.

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Real estate flippers – you’ve got some ‘splaining to do Arizona hard money!

Real estate flippers – you’ve got some ‘splaining to do about Arizona hard money!

Hey, I Love Lucy fans, did you catch that pun? Well, in the more serious, tedious and doldrums of work life, you really, seriously need to be able to explain your position to a multitude of people. Your little pet project, where you want to turn a former prison into a preschool (same difference, no?) won’t be approved by the major banks or mortgage companies. At least, it’s not likely.

SO YES, YOU’LL HAVE TO CONSIDER ARIZONA HARD MONEY, BUT WHILE IT SEEMS A LITTLE MORE STRAIGHT FORWARD, YOU NEED TO BE AS CLEAR AS GLASS.

Always be clear with your information as most lenders will require an executive summary of some sort before you even begin. What’s included in this summary depends on you and the situation, but usually it’ll be cost estimates, due dates, time frames and what you expect to pay for monthly payments.

All of which means that you’re going to have to do some amount of explaining as to why you or your client deserves such and such a loan and how the loan structure will provide a win-win scenario for borrower and hard money lender Arizona. Not providing information that’s clear and concise can be an absolute deal breaker, especially when the deal is more complicated, as many commercial scenarios are.

If you feel your project is really worth going through with, simply make your plans as clear as possible. This will make any ship sail that much more smoothly.

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Crunching numbers on hard money lender Arizona

Crunching numbers on hard money lender Arizona

So what are some of the many benefits to a hard money loan? Well, here’s some numbers for your calculator to use. But first, remember that a hard money loan is a form of asset-based borrowing instead that deals with real estate financing. Some borrowers also pursue Arizona hard money loans when their financing needs are super urgent and more traditional and conventional financing sources cannot respond in time.

IN MANY CASES A HARD MONEY LENDER 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.

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 much when dealing with these types of loans. Remember, you are a valuable person so fight for your right…. To vary!!! That means, don’t let yourself be jerked 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 lender Arizona

Hard money lenders Arizona – the easy way to financing your project

Hard money lenders Arizona – 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 ARIZONA 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, Arizona 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 Arizona. 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.

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Arizona Hard money – the truth and the fiction

Arizona 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, ARIZONA 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 Arizona 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.

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Another good reason to use Arizona hard money – it’s quick

Another good reason to use Arizona hard money – it’s quick

So, a lot of people will ask, if hard money is so expensive, why would you or anyone use it? Hard money has its place for certain borrowers who cannot get traditional funding, like from a bank or mortgage company, when they need it. Because the Arizona Hard Money are mostly focused on collateral (and less concerned with your financial position), hard money loans can be closed more quickly than traditional loans. They would rather not take possession of your property, as that’s an uncomfortable situation for everyone involved, but they don’t need to spend as much time going through a loan application with a fine toothed comb.

DID YOU KNOW ARIZONA HARD MONEY AGREEMENTS CAN ALSO BE MORE FLEXIBLE THAN TRADITIONAL LOAN AGREEMENTS, TOO? MOST LENDERS DON’T USE A STANDARDIZED UNDERWRITING PROCESS. INSTEAD, THEY EVALUATE EACH DEAL INDIVIDUALLY. DEPENDING ON YOUR SITUATION, YOU MAY BE ABLE TO TWEAK THINGS LIKE THE REPAYMENT SCHEDULES.

You also do not need great credit to get hard money, and your income is not as important as it might be with other “loans.” It may even be possible to get hard money without verifying your poor credit or income information, but it’s rare. Lenders will be interested in your finances, but your collateral is the most important thing. Most hard money lenders keep loan-to-value ratios (LTV ratios) relatively low. Their maximum LTV ratio might be 50% to 70%, so you’ll need assets to qualify for hard money. With ratios this low, lenders know they can sell your property quickly and have a reasonable shot at getting their money back. Talk to Arizona Hard Money Lender Level 4 Funding.

Phoenix Hard Money Lender

Arizona Hard Money Drawbacks and how to avoid them

arizona hard money Drawbacks and how to avoid them

LIKE EVEN THE MOST BEAUTIFUL WOMAN IN THE WORLD, HARD MONEY IS NOT PERFECT. WHILE IT SEEMS SIMPLE – AN ASSET SECURES THE LOAN SO EVERYBODY’S SAFE – ARIZONA HARD MONEY IS ONLY ONE OPTION. IT IS EXPENSIVE, SO THINGS HAVE TO WORK ACCORDING TO PLAN FOR PROFITS TO MATERIALIZE. SO MAKE SURE THAT YOUR PLANS ARE CLEAR AND GOOD! HARD MONEY WORKS DIFFERENTLY FROM LOANS YOU MAY HAVE USED IN THE PAST. LENDERS USE MORE CONSERVATIVE METHODS TO VALUE PROPERTY THAN YOU MAY EXPECT.

Here’s a few ways to keep things going to plan:

Everyone likes someone knowledgeable about their job, so do a little extra research and then make offers. Talk to contractors to get a few estimates on what it will cost to refinish and otherwise repair the property. If you head into the private money lenders Arizona office 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.

Also, 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.

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Speed dating with an Arizona hard money loan

Speed dating with a Arizona hard money loan

IN THE WORLD OF FINANCES AND REAL ESTATE LOANS, HARD MONEY LENDING IS A LOT LIKE SPEED DATING — THEY ARE DESIGNED TO BE TEMPORARY, AND THE INTEREST RATE ON ANARIZONA HARD MONEY LOAN GIVES YOU AN INCENTIVE TO MOVE ON AS QUICKLY AS HUMANLY POSSIBLE.

First, interest rates are generally higher on a hard money loan. You should not be surprised to pay more than 10% APR or anything in the high teens percentage wise, and you can easily pay several times that. A hard money loan should be used to help with a temporary need, like flipping a property, not as something you’ll keep around forever like your student loans. You may not even have the choice to keep a hard money loan going for long. Most loans require you to repay in full within one to five years, so you have to plan ahead. In addition to higher interest rates, you’ll often pay more points to get a hard money lenders Arizona. Five points or more would be reasonable, but you’d need a good reason to pay that much on other loans. Again, a hard money loan is a shorter-term loan, so you’ll amortize those points over a shorter period of time. They drive up your borrowing costs and like your cholesterol that’s not a healthy thing to raise.

Keep all this in mind when you walk into the office of a hard money lender. You want to diligently understand your own position as well as the position of the person sitting across from you.

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Arizona Hard money: not the first resort, still a great option

Arizona Hard money: not the first resort, still a great option

With financial assistance for the country’s small businesses locked in a congressional imbroglio and bank loans still tough to get, many smaller firms are turning gleefully to hard money lenders Arizona of last resort. Across the nation, small businesses are paying private lenders annual rates of up to 36 percent plus fees to get the cash they need to buy inventory, pay their mortgages and meet payroll. Those private money lenders Arizona say they’re supporting small businesses at a time when credit is scarce. But the extra cash can come at great cost. The struggle for credit has led business owners who had never ventured outside the highly regulated world of banks and credit cards to seek often-expensive relationships with all kinds of other lenders. Among them, so-called “hard-money lenders” take personal property or the business itself as collateral. Others function like payday lenders, offering cash advances against a business’ anticipated revenue. There are also independent brokers, who put together applications for customers and seek loans from a variety of sources.

When you’re out of options, it may seem scary to go for a hard money loan, but don’t fret. Many people do this or this type of business wouldn’t be successful. It’s more a matter of knowing what you’re getting into before hand, so if you were to say, try and flip a property, you’d want to have estimates of repairs, a timeline for things to fall into place and clear goals so that when you presented everything to your chosen loan person, it doesn’t seem half come together. It’s a complete thing.

What would you do without hard money loans Arizona?

What would you do without hard money loans Arizona?

Here are a few testimonials from actual clients that benefitted from a hard money lender Arizona:

Robbie claims:  “My company experienced a disastrous fire that nearly destroyed us. No conventional lender would help us. A hard money lender did. Because of them, we were able to borrow what we needed and continue in business. We were then able to settle our insurance claim, repay their loan and prosper…I will always be grateful for the help hard money lending gave to me, when no else would.”

THAT’S THE TRUTH ABOUT HARD MONEY LOANS ARIZONA!

Katie said: “I am very thankful to have found Arizona hard money because without it I would not have a home of my own. They made all of my and my children’s dreams come true. They are very understanding and willing to work with you. Not everyone in the world has perfect credit or the perfect life but they can help. Thank you for everything. I am so grateful.”

Last but not least, a cook in Indiana said: “I believe I represent the view of many when I say that hard money lenders have been a godsend to our community for giving people credit when no one else will take the chance. After banks, loan companies and mortgage companies refuse to extend credit, people turn to them for help. These people often represent a high credit risk and takes on that risk when they make loans to them. No one is forced to borrow money from anyone under any terms the company offers. Each person is responsible for his or her own actions. They tell customers up-front about the interest rates and terms offered in each loan, just as any other lender would. I’m sure there are many who need his type of loan services but have not known about this door of opportunity offered.

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