Hard money loans are a fantastic option for some people, but they may not be the right choice for everyone. Here’s how to know if a hard money loan is a wise option for your situation.
If you’re new to the real estate lending game, you might be wondering what a hard money loan is. Put in simple terms, they are short-term loans — typically anywhere from one to five years — that are an alternative to traditional mortgage loans. There are three main benefits of this type of funding:
Is a hard money loan right for me?
For people who will be able to make a profit fairly quickly on an investment property (think experienced flippers or first-timers working with a contractor), this type of funding is the perfect fit. However, it may not be the right choice for everyone. Because they are quicker and more convenient, they often come with higher rates than a traditional mortgage and may include origination fees.
Finding a hard money investor
To get your hands on the money you need to grab up that perfect property, you may want to speak with a hard money investor. He or she can sit down with you, help you understand your options, and find you terms that will work best for you.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
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 the Author: 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.