Arizona Short Sale Specialist

Wednesday, March 11, 2020

Build Your Dream Home with a Arizona Construction Loan

House hunting can be an exhausting process that yields little results. If you are unhappy with what is on the market, consider how an Arizona Construction Loan can make all your dreams come true!

House hunting can be exhaustive. After a while, you may feel like giving up—but settling on a house is not something you should do. After all, you spend time in your home every single day and it is a reflection of who you are and functions within your lifestyle. Choosing a home that is too small or doesn’t have all the features you like will make you unhappy in the long run. Fortunately, there are other options.

Some prospective home buyers may go as far as to consider fixer uppers. Sometimes, this option can be cheaper. However, it does involve a little bit of work and transforming a home before your eyes. Depending on who you are, if you have a natural eye for design and are able to work with the existing foundation, the process of making a fixer upper your own can be difficult—and, because you are forced to work with what is there, not all creative design choices are possible. If you are tired of not being able to find your dream home, or even renovate or modernize one to your liking, consider building one from scratch with a construction loan.

Why You Should Invest in Arizona Construction Loans

An Arizona Construction Loan will allow you to create your dream home. You will be able to design the floor plan, and even go as far as picking the location of your property, probably with the help of a land loan. Building a home from scratch is a lot of work that involves multiple heads: an architect, project manager, and the builders themselves. However, a collaboration like this one may be able to allow you to create the home you want but doesn’t exist on the market.

The idea of building a home from scratch can definitely be overbearing. There is a lot of pressure to do the job right, but you are not alone. If you don’t want to design your floorplan by yourself, you can work with an architect who can help make adjustments or suggestions that will help ensure you are getting the home you want that fits your aesthetic and lifestyle. If you choose to work with a qualified mortgage broker, like those at Level 4 Funding in Arizona, you can be confident that you are working with someone who considers your needs on an individualized basis with a thorough understanding of the real estate market.

Arizona Construction loans in Arizona

If you are tired of the nonsense availability of the current homes on the real estate market, give the lenders at Level 4 Funding a call to discuss what an Arizona Construction Loan can do for you. We offer a free initial consultation, with no upfront costs or fees, to help you determine the best way to make your dreams reality. Our lenders are willing to work with you on an individual basis so that you can build the home that speaks to you. Give us a call today!

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.

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.

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!

Rotten Credit – No Problem!

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!