Setabay Private Money Lender

Wednesday, March 11, 2020

What You Need to Know Before Applying for a Land Loan

If you are new to the real estate market, you may be playing catch up in all the jargon and lingo that goes on in the business—neglecting to watch HGTV may also keep you out of the loop in the types of creative passion projects people have and attempt to make a profit off of. So, what are Arizona Construction Loans? Are they the new fixer upper?

Someone choosing to obtain Arizona Construction loans are looking to build land on a property they own. Instead of purchasing a property to renovate or modernize, they choose to build from the ground up. In this way, builders have complete control over the type of home they build, and have a say in the location. Usually people who obtain Arizona Construction loans also obtain Arizona Land Loans to complete a total vision of the project.

Construction or Fix and Flip?

Designers and lover of aesthetic may be more interested in fixer uppers than construction projects. Fixer uppers already have an essence to them, and somebody working on a fixer upper has to work with what exists. It’s true that renovators can tear down walls and turn a small office into a half bath and vice versa—but there is a foundation that is not malleable. Designers may see potential in what is already there and tweak it.

Those interested in construction projects may have an idea for a complete vision. Perhaps there is a vacant lot near business, entertainment and school districts that would be the foundation for a charming family home. Or, perhaps they are an architect with the vision of a director, and they would like to design and curate the home based on a blank canvas, or, in this case, vacant lot. Both construction projects and renovation projects have their pros and cons, but someone seeking Arizona Construction loans may have to invest more time and money than those seeking fix and flip loans.

An Arizona Construction Loan covers many costs, and building a home involves a lot of people. Compared to fixer uppers, complete home builders require more labor and more brain power. This is because the project is being completed from scratch and as the home is built, many different people come into play to make sure it happens; this includes the architect, builders, project managers, inspectors, as well as those who provide the resources to actually build the house.

Sometimes it’s possible to find an affordable fixer upper that just needs a few changes, the commitment isn’t as deep, and the cost and stakes aren’t as high. Building a home is a much higher commitment and investment.

Where to Get a Construction Loan in Arizona

If you are seeking out an Arizona Construction Loan, consider the mortgage brokers at Level 4 Funding. We are a team of qualified professionals who offer a variety of loans and free initial consultation. We charge no upfront costs. Give us a call today to see how we can help make your passion project go from dream to reality.

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.
© 2019 Level 4 Funding LLC. All Rights Reserved.

Tuesday, March 10, 2020

What are the Best Fix and Flip Loans?

If you’re new to fixer uppers, it’s enough to just be in-the-know through all the latest HGTV shows—an investment will be important for the property, but also your time, energy and resources. This includes your mortgage lender, loan process, and who to go to for successful

fix and flip loan.

When it comes to fixer uppers, you have to have some extra cash. It’s not always difficult to find a property with potential on the market, but you also need to invest in possibly modernizing the home, fixing problem areas, and making it valuable to potential buyers.

If you don’t have extra money lying in the bank or a generous relative who can invest in you and your project, you are probably considering mortgage lenders to help fund your project. But what makes a successful mortgage lender who is worth your time and efforts?

What Is Hard Money—and Who Offers It?

Mortgage lenders can be public or private. When most people think of loans, they probably think of traditional money lenders, like banks and credit unions. These options are here for you, but with a catch. They have high expectations of their borrowers and the requirements for acquiring a loan can be strict. Simply, not everyone may qualify. Fortunately, there are other options if you don’t qualify with a traditional lender. Something else you may not know is that private, alternative loan lenders may be better for renovation projects anyways.

If you do not obtain a loan from a public loan lender, you may be interested in speaking with a private hard money lender. A private hard money lender is an untraditional loan option by private individuals or companies. Because private hard money lenders are not backed by large, public companies, they can work on an individualized basis. Just because you don’t qualify with a public lender, does not mean you will not qualify for fix and flip loans with a Private Money lender.

Private lenders and mortgage brokers offer something called hard money. Once approved, hard money can usually be obtained within the week so you are able to begin working on your renovation project, or bidding on the competitive housing market, right away. Because private hard money lenders are speedy and flexible, they come with higher interest rates. Borrowers may still choose to work with private hard money lenders for their fix and flip loans because of the time line.

Hard money is meant to be paid back fast—within the year—and a successful renovation project smooth updating and a quick sale makes repaying the loan in such a timeline possible. Borrowers may also be interested in speed because of the increased ability to obtain a house with potential. Being able to obtain it makes the project possible, and not all homes are great contenders as fixer uppers.

Hard money lenders in Arizona

If you are seeking a qualified mortgage broker in Arizona, look no further than the professionals at Level 4 Funding. We offer a free initial consultation with no upfront fees, so we can determine what the best fix and flip loans are for you. Give us a call today!

How to Fix and Flip in a Seller’s Market

Hard money loans can help you fix and flip a property. In a seller’s market it can be difficult to find affordable inventory.

So you’ve got your Arizona hard money loan proposal almost complete, you just need the perfect property. That can be hard to find if it’s a seller’s market which means prices are inflated and inventory is low. Here are some ways to keep your fix and flip business going through the highs and lows of real estate.

Look for FSBO Properties

FSBO means for sale by owner. Some sellers won’t use an agent to list their property so it won’t hit the online home sites. You may only find them by driving by and seeing as sign. That makes them more difficult to locate, but it gives you the opportunity to negotiate directly with the seller and you’ll be able to explain your offer face-to-face, getting the most for your hard money loan. This can also save money on your deal because they most likely won’t be paying a commission to sell.

Have a Realtor On Your Side

Realtors also have the opportunity to see properties that may be a good investment for you by seeing what is going into foreclosure soon so you can swoop in and make a cash offer to keep that person from going under on their home and losing it to the bank. This is an opportunity to get the house for what they owe, rather than having it marked up and potentially getting in a bidding war on a home that’s already listed.

Inflated prices due to a seller’s market can make it difficult to keep your profit margins up so it’s important to find other ways to get your hands on a house that will provide a good return on your investment. The tide will turn eventually, as real estate always does, and you’ll have the opportunity to scoop up properties much more easily, but it’s important to be prepared for when inventory is low so that you can keep your business afloat.

When you’ve found that property, whether it be a FSBO or a pre-foreclosure home, bring your investment strategy to a lender like Level 4 Funding to discuss your Arizona hard money loan and how we can help you achieve your fix and flip goals.

What You Need to Know Before Applying for a Land Loan

If you are new to the real estate market but are looking to invest, it is important you also invest in research. Before applying for a land loan, read more below about what to expect and what you should do when investing in real estate.

So, you’re new to real estate and you don’t watch HGTV. What do you do to make it on the market? First, put yourself in your loan lender and potential land buyer’s shoes. When seeking out land, you’re going to want to choose something with potential. If you are looking to build or are expecting to sell to a family in the future, you are going to want to choose a nice piece of land in a great location. Land near school districts, businesses, and entertainment venues have the potential to bring in potential buyers. This will keep you near the local community and increase social circles.

Next, your land should have a few amenities. This includes curbs, sidewalks, water lines, power lines, and sewer. Land without this won’t be as attractive to build on. While some neighborhoods don’t have sidewalks, neighborhoods with sidewalks are more attractive to families spending time outside and the active community who may enjoy safe jogging or talking their dogs on walks.

Finally, a few technical things must come into play before applying for your land loan: Home Owner’s Association HOA, terms of the city, and covenants, conditions, and restrictions or, more commonly, CC&R’s. These are the technical requirements of homes built in specific cities and neighborhoods. It’s important to know what you are truly investing in and what kinds of limitations your land project may have before accepting the terms to a land loan.

Where to Get a Loan

So: you’ve found a great property and you are ready to invest—now where do you go?

Most borrowers seek out public money lenders when applying for loans. Public money loans include traditional loan lenders like banks and credit unions. Because public money lenders have high standards and loan requirements that not everyone can meet, they may refer you to Private Money lenders. Private Money lenders consist of private investors and companies. They usually offer hard money and don’t have as many strict loan requirements.

Hard money is a type of loan with a quick loan repayment period—but it also includes a generally speedy process. Private Money lender can usually get the process going within the week, compared to a possible 8 week wait by a bank or credit union. Private Money lenders can also work with you on an individual basis. If you prove yourself as a borrower with solid plans and resources, chances are they can help you out when investing in real estate.

Land Loans in Arizona

If you are seeking out a land loan, consider the qualified mortgage brokers at Level 4 Funding. We offer a free initial consultation and have no upfront fees or costs. As someone new to the real estate market, working with qualified professionals who take the time to focus on you and your project individually can make all the difference in a successful project and loan borrowing. Give us a call today!

Monday, March 9, 2020

Rotten Credit – No Problem!

Here’s why an Arizona hard money loan might be best for you if you have poor credit and want to make a real estate investment.

Your credit score is incredibly important when it comes to obtaining long-term loans. While credit criteria make sense, there are times that investors wish it wouldn’t hold them back from making new investments and building their portfolio.

I’m here to tell you that an Arizona hard money loan may be the right choice for you if you’re struggling to build your credit and need fast funding to nab the right deal. We take more than credit into account and that’s why we can put more weight into your project proposal and previous investment history.

We can take a big picture look at you, rather than scrutinizing your credit score. Here’s what we’ll take into consideration to determine our ability to fund your proposal:

· Project’s ability to make money, allowing you to pay your loan

· Property equity

· Plan for the proposed property

· Investment history

Each of these categories speaks to your ability to use an investment to make money, pay back your loan, and be a successful investor.

We value your expertise in the field of investment and can look beyond a poor credit score to help you fund your next project. An Arizona hard money loan will not only fund quicker than a traditional loan, it can lead to other opportunities, as well.

We love working with successful investors more than once so we can offer incentives as you get more deals under your belt. At Level 4 Funding we take the time to get to know our investors and you’ll feel comfortable coming back to use for project after project in the future.

If you have questions about how to get started obtaining a Arizona hard money loan for a fix and flip property, a commercial property investment, or a situation in which you need a bridge loan to get you by, give us a call! We would love to set up a time to speak with you and learn more about your next project!

Sunday, March 8, 2020

How Arizona Construction loans Helped My Parents

You can’t control what is on the real estate market, and eventually house hunting can become completely exhausting and emotionally draining. But you don’t have to give up. Consider the potential Arizona Construction loans have in making all your dreams come true.

My parents were searching for their dream home off and on over the course of two years. Eventually, every prospective look became the same: too small; no office; not big enough yard; disappointment. Sometimes the idea of modernizing a home came up, but it was just too much work to tweak something that wasn’t valuable to them into perfection—and not all homes can be tweaked in the way you wish.

Eventually, my parents decided to consider Arizona Construction Loan. Instead of endlessly searching for the dream home on a market of reality, they decided to literally build their dream home from the ground up.

How to Build Your Dream Home

My parents began searching for vacant lots and properties with the potential for building. This included seeking out quiet neighborhoods with a local community they would enjoy, while also considering distance to entertainment, business, and school districts. Finding a property wasn’t easy either. However, once they found the perfect lot, they were able to get started with a qualified team to build their dream home.

Building a dream home meant applying for Arizona Construction loans and a land loan to cover the cost of the build. This meant working with an architect, property manager, and builders to ensure their plans were possible and fit into the budget. Lots of research and resources were pulled together to find out what details and limits needed to be met.

Even though this was taking a lot of time and energy, they were content in knowing they were building something together that they would love. They were investing in a project that they would get to make their own from the very beginning. While over time you grow into a home and make it your own through the memories and experience you make and have in it, my parents were making a home their own from the second they stepped on the land and put a pencil in hand to sketch out their dream floor plan and layout.

Loans in Arizona

If you are seeking out Arizona Construction Loans, consider speaking with the loan lenders at Level 4 Funding in Arizona. Qualified mortgage brokers are available for you to discuss your plans and dream home with a free initial consultation with no costs or upfront fees. Private mortgage lenders like those at Level 4 Funding can work with you on an individual basis, unlike public money lenders like banks and credit unions. This is a wonderful factor when it comes to something as unique and personal as building a home—your experience, preferences, and budget are going to be completely unlike other borrowers based on what your dream home is, and the lenders at Level 4 Funding understand that and will work with you.

Don’t give up on your dreams. Make them a reality by considering how an Arizona Construction Loan can make your dream reality. Give Level 4 Funding a call today to see how you can make that happen, just like my parents did with their Arizona Construction Loan!

Orchard Funding 11333 N Scottsdale Rd #293, Scottsdale, AZ 85254 (602) 252-1500

Hard Money Lenders Phoenix Arizona 40 N Central Ave #1400, Phoenix, AZ 85004 (480) 999-6183

SFG of Arizona, LLC 7272 E Indian School Rd #540, Scottsdale, AZ 85251 (480) 455-5047

Capital Fund 1 14555 N Scottsdale Rd Ste 200, Scottsdale, AZ 85254 (480) 889-6100

Prime Plus Mortgages - Phoenix Hard Money Loans 7137 E Rancho Vista Dr b05, Scottsdale, AZ 85251 (480) 788-357

Brad Loans by eMortgage Inc. 6011, 7522 E McDonald Dr C, Scottsdale, AZ 85250 (480) 948-0880

Geoff Ball | Hard Money Loans 3003 N 73rd St, Scottsdale, AZ 85251 (480) 808-8687

Hilton Financial Corporation 11024 N 28th Dr #170, Phoenix, AZ 85029 (602) 375-8951

LM2 Investment Group 9160 E Bahia Dr #105, Scottsdale, AZ 85260 (480) 444-2242

Setabay Loan Trust Deed Investing - Private Lender 23335 N 18th Dr #120, Phoenix, AZ 85027 (623) 869-6854

Kenwood Mortgage Investments 7950 E Redfield Rd # 110, Scottsdale, AZ 85260 (480) 783-8800

Hard Money Loan Services 916 E Baseline Rd #106, Mesa, AZ 85204 (480) 820-5070

Arizona Private Lender Association – APLA 11811 N Tatum Blvd #4020, Phoenix, AZ 85028 (520) 269-6585

A&A Funding Corporation 10031 E Dynamite Blvd Suite 230, Scottsdale, AZ 85262 (602) 494-8980

Capital Market Funds 8442 E Chaparral Rd, Scottsdale, AZ 85252 (480) 351-4472

Hard Money, LLC -- Hard Money for Arizona bruc.robinson@gmail.com, Gold Canyon, AZ 85118 (559) 967-5582

Clear Mortgage 9399 South Priest Drive

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Saturday, March 7, 2020

Will Your Property Appraise?

You’ll want to consider these things when choosing an investment property because hard money lenders will require an appraisal to fund your loan.

Hard money lenders have to protect their investments and one of the ways they do that is by performing a property appraisal to determine the value of the home before renovation, compared to after.

There are some steps you can take when choosing your fix and flip property that will help the home appraise and get your proposal accepted by a Arizona hard money lender so you can get that money in your hands to begin the project!

Great Location

If your real estate investment opportunity is a fix and flip, it’s important to have a property that’s in a desirable location to ensure you attract buyers easily. Check what type of businesses are in the vicinity of the property and distance from busy streets. Those both will have an effect on the value of the home and can determine your loan amount from the hard money lender.

Floorplan

This is one of the most important things to consider about your property. If you’re looking for a fix and flip you want to see it from that buyer’s point of view. Could you envision someone or a family living in that home? If you’re looking at a commercial property, is it set up to have cubicles installed if the renter so chooses?

Neighborhood Trends

Every city has trends when it comes to desirable neighborhoods. You’ll want to be on the nose with where the population is moving and how quickly those homes are getting taken off the market. If you’re looking at commercial investment property you want to know where businesses are thriving and sticking around through the ups and downs of the economy.

If you have a real estate investment opportunity and want to work with a Arizona hard money lender to make your dream come true, contact Level 4 Funding today and we can hear your proposal, appraise the property, and fund the loan quickly to get you on the way to earning real estate money!