Sunday, September 8, 2019

Try These 4 Tactics to Secure Arizona 90% Hard Money Loans

Trying to secure Arizona 90% hard money loans can be a challenge. However, you can increase your eligibility by applying some tried-and-true strategies.

1. Partner up. Often times, Arizona 90% hard money loans in Arizona are reserved for those with lots of experience and a stellar track record. If you don’t have this, bring a partner on board who does and be sure to listen to the tips and advice they provide along the way. If you can’t find someone with a strong enough background to get you 90 LTV, explore alternatives, such as someone with at least a little background and some cash to add to the down payment.

2. Score a deal. The less you pay for the property, the lower your loan-to-value rate will be. Auctions have incredibly steep competition these days, which makes it so much harder to get a good deal that way. You may have better luck networking with other investors or working a neighborhood and connecting with a potential seller before he or she puts the property on the market.

3. Leverage a portfolio. If you already have another property paid off, you can leverage it as well. For example, let’s say you’ve got a property that’s worth $100,000 and you know it will be worth $200,000 after you sink $50,000 into it. You negotiated a deal and will only pay $90,000, but that means you still need $140,000 to purchase it and make repairs, leaving you $60,000 short. You can leverage other properties you already own to help bridge the gap.

4. Show your lender what you can do. Don’t lose heart if you can’t get 90 LTV right away. Instead, try to find projects that will allow you to move forward using the cash you do have. Once you’ve developed a reputation for completing projects successfully, the offers you receive will improve. It also helps to work with the same lending team for repeat projects, as you’ll develop rapport and your team will become eager to work with you more often.

Come Up with a Win-Win Solution

Getting approved for Arizona 90% hard money loans in Arizona really comes down to reducing risk for the lender and there are lots of ways to create a win-win solution. For example, you may be able to pay a higher interest rate to get more cash up front. Or, if you’ve got really great credit, you can leverage that to show your lenders that you’re not a financial risk. Try to look at it from the lender’s perspective and consider what it would take you to loan to someone under the circumstances you’re in.

Get a helping hand from an experienced broker.

Find an experienced broker who routinely helps get Arizona 90% hard money loans in Arizona off the ground. He or she will be able to tap into multiple avenues to get you the cash you need. Failing that, they’ll provide you with insights to help improve your eligibility for financing and better terms as well.

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC

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

NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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