Getting into Fix & Flips? Read This Appraiser’s Advice First

 

When people hear about Level 4 Funding and the work we do, they often wonder exactly how people put hard money loans to use and create real value with them. Oftentimes, those we help work in the “fix-and-flip” business, rehabbing houses. Of course, the next flurry of questions usually surrounds who does that and how they make it work. We’ve been lucky enough to get a few professional home rehabbers to open up a bit about their work and are highlighting their stories. Jason Maze of Maze Enterprise and Amazing Appraisals was kind enough to give us some insights.

Jason Began as an Appraiser

Working in real estate appraisals, Jason routinely helps home buyers and sellers, as well as other parties such as lawyers and accountants, determine the value of a home. While this is often done in advance of a sale, appraisals are routinely performed anytime knowing the value of a property is beneficial, such as during a divorce or while handling estate planning. Over the years, he really got to know the numbers and specific areas. When the market crashed in 2008, he noticed an interesting trend. Canadians were heading into the area and buying en masse. “We can do that,” he decided. With his experience in value and his wife Jennifer’s lifelong affinity for design, the two ventured into the fix-and-flip business.

He Offers Some Tips for Those Getting into Home Rehabs

We asked Jason what advice he’d give someone who was considering getting into the business. “Go for it,” he says. “Make sure you have crunched your numbers. Buy low, sell low.” Although Jason may have the upper hand in valuation because he’s been in the field for decades and now does about ten flips per year on top of it, he says anyone can get a better idea of the numbers by hiring an appraiser before they purchase a property or prior to selling one.

There are Highs and Lows in the Fix-and-Flip Business

So far, Jason says his and Jennifer’s most rewarding project has been a historic home. With Jennifer’s designs and Jason’s fiscal sense, the outcome was great. However, the icing on the cake was when HGTV contacted the couple and asked about airing it on a show. This particular property, aside from celebrity status, was a bit of a rarity for the duo, as they typically aim for “newer” homes, or those built in the 1970s through now. Jason says they “learned their lesson” about dealing with older homes the hard way by purchasing one sight unseen. When they finally got their hands on it, they realized it was built with mud and straw, then covered in plaster, as opposed to modern building materials. This, he adds, isn’t uncommon for the period. Many homes throughout the southwestern US, particularly in the Phoenix area, were built this way because it’s what the earliest residents had on hand and helped make the desert heat more bearable. Still, it was an unexpected surprise they had to overcome and added a few extra challenges to the rehab.

Jason and Jennifer Have Big Plans

Despite the occasional blip, the fix-and-flip business has been good to the Maze family. The pair does about two homes at a time, continuously adding to their impressive portfolio. This still allows plenty of time for Jason to grow his appraisal business. Jennifer, on the other hand, has been balancing managing the design of their rehab properties with a nursing career, which she may soon leave behind in favor of branching out on her own offering design services to others. Of course, the family is still allowing plenty of time for fun and new adventures together as well. Chat with Jason About Appraisals or Get Info on a Fix & Flip Loan.

If you’d like to chat with Jason about his appraisal services, go to Amazing-Appraisals.com.

You can also visit Level4Funding.com to learn more about loans for your next fix-and-flip project and even begin the application process right on the site. We’ll be sharing more stories from home rehabbers like Jason too, so pop back in soon for the next installment.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Office:  (623) 582-4444
dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

Owner Occupied Borrowers Can Get a Private Hard Money Loan From Lenders

Welcome we offer Private Hard Money Owner Occupied Loans in Arizona up to 80% LTV.  Our Arizona owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Arizona

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Arizona, making real estate loans to both Investors & Owner Occupants in Arizona.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in Arizona.

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Arizona, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Arizona Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component

Owner Occupied Borrowers Can Get a Private Hard Money Loan From Lenders

Welcome we offer Private Hard Money Owner Occupied Loans in Arizona up to 80% LTV.  Our Arizona owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Arizona

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Arizona, making real estate loans to both Investors & Owner Occupants in Arizona.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in Arizona.

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Arizona, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Arizona Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component

Private Hard Money for Owner Occupied Borrowers in Phoenix

Welcome we offer Private Hard Money Owner Occupied Loans in Phoenix up to 80% LTV.

Our Phoenix owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Phoenix

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Phoenix, making real estate loans to both Investors & Owner Occupants in Phoenix.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in .Phoenix

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Phoenix, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Phoenix Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Phoenix Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.

Private Hard Money for Owner Occupied Borrowers in Phoenix

Welcome we offer Private Hard Money Owner Occupied Loans in Phoenix up to 80% LTV.

Our Phoenix owner occupied hard money loans program makes it easy for you to get the new home you need despite not having credit, having bad credit, or even if you’re not from the United States.  Owner occupied loans have easier requirements than investor loans and can even benefit from our cross collateral 100% LTV loan option.

Owner occupied hard money loans are also considered Principle Residence Loans, alternative financing, and private money loans.

We continuously stay up to date on all regulation required to offer owner occupied hard money loans.

Poor Credit, BK, Foreclosure, TIN Numbers, Self Employed YES we can!

No Up-Front Fees and No Cost to Apply.

Quick and simple to Apply for a Owner Occupied Private Hard Money Loan

Reasons Why Borrowers Use Owner Occupied Loans using Private Money

Bad credit

Hard to prove income

Dealing with a problem property

Cannot qualify for conventional or FHA/VA financing

Common Uses Of Owner Occupied Private Hard Money Loans Phoenix

Buying first or second home

Refinance an existing loan

Cash out for repairs or remodeling

Cash out for debt consolidation

Hard Money Owner Occupied Loan Program Options

100% FINANCING AVAILABLE if the borrower has another property that is free and clear or has a small mortgage in relation to value (substantial equity) to pledge as additional collateral.

We are a Private Hard Money Lender in Phoenix, making real estate loans to both Investors & Owner Occupants in Phoenix.

NO PRE-PAYMENT PENALTY

We have no pre-payment penalties on our loans.

PURCHASE - REFINANCE

Down payment: 20-30%

Can accept co signers

Allow seller carry back for the Down Payment

Up to 70% or 80% of appraised value

Up to 100% financing with a 2nd free and clear property.

Interest Rates from 9.5% for Owner Occupied Private Hard Money in .Phoenix

Requirements for Private Hard Money Owner Occupied Loans

Income verified – 3 months banks statements or tax return.

BK, Foreclosure, INN, Self Employed YES we can!

Apply for an Owner Occupied Hard Money Loan

If you are interested to see if you qualify for an owner occupied hard money loan in Phoenix, give Jamie a call today at 623-582-4444 or fill out our loan application to get started.

What is an Owner Occupied Private Hard Money Loan?

These types of loans are considered consumer loans. This means that they are for the individual home owner not an investor or corporation. These loans are for borrowers who will live in the home as their primary residence home. These are loans where the borrow will use the funds for consumer purposes, such as paying down debt, buying a boat, debt consolidation or paying a tax lien. The funds are going to be used to help the consumer. When you are applying for a consumer Private Hard Money home loan there are a lot of requirements that the lender must do to make sure that the borrower fits the loan. These are recent requirements, but the main requirement is that the Private Hard Money Lender Lending for an Owner Occupied Homes needs to make sure that the borrower can make the payments. They call this verifying the ability to pay the loan. Since this a Private Loan, these requirements are easier and more relaxed that the traditional lender. Additionally, Phoenix Private Hard Money for Owner Occupied Loans usually have a lower credit requirement. Another requirement is that the loans must be ‘fully amortized over 30 years’ and cannot have a balloon payment. The advantages of a Private Hard Money Lender are that the loan is completed quickly, and the borrower can move fast. Typically, the lender is private individual that will look at the property and make a quick decision. Rates on the loan are higher that a traditional loan, but usually range from 6-12%.

A few other reasons for a Phoenix Private Hard Money Owner Occupied Consumer Loan:

Self-employed

Trouble documenting income

Inconsistent income history

Credit issues due to a recent loan modification, short sale or foreclosure

Bankruptcy

Client already owns the home and needs to refinance, the purpose is consumer in nature, and there’s no purchase component.