You may already know what an Arizona hard money loan is and you may be wondering where you can get one. Private money lenders Arizona are more in demand than ever now. Here’s how you can find one to help you with your next home renovation:
1. Talk to your clients. Sounds simple, right? And it’s the best place to start. There’s a good chance that your most active clients have relationships with private money lenders Arizona.
2. Network with escrow companies. Why? Because these escrow companies know where the money is. They close deals all the time and the money has to come from somewhere. Begin to build relationships with a few good, and active closers, you can usually get them to tell you which private money lenders Arizona they use and trust.
3. Research the closed deals yourself. Private money lenders Arizona will have their name recorded on the trust deed. Additionally, you can also call the buy and ask who they used as a private money lender Arizona.
With Arizona hard money
loans, hard money lenders Arizona
base your hard money loan
entirely on the value of the property you have, not based off of the credit you may or may not have. This lets you breathe a little easier, right?
However, a word of caution: Before you even begin to think about getting a hard money loan, be realistic about how long you think your project will take. For example, don’t take a three-month loan term if you believe it will take you four months to do the rehab on a home. Give yourself enough time to pay off this loan! And don’t be afraid to ask for an extension on your Arizona hard money loan if you need it.