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 Mortgages 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 Mortgage 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.