hard money loan: 5 Reasons to Use a Texas Hard Money Lender - 01/25/19 09:27 AM
Texas Hard Money Lenders can be a real estate investor’s best friend. They offer speed and flexibility on top of a plethora of other benefits.
1. You Don’t Have To Have Perfect Credit— If you fall into the majority of borrowers you have a ding or two (or several) on your FICO score. When it comes to traditional loans, the most important factor a bank looks at is that three digit score. If your score falls below their required number—no loan for you! Not only your credit score, but your monthly income is of just as much importance to them. If you … (0 comments)

hard money loan: If You Can Read This Post, You Can Get A Commercial Real Estate Loan - 01/25/19 09:18 AM
Both buying and renovating commercial real estate is the mark of a giant step for your small business. However, it can be extremely stressful. It is imperative you completely understand the process—this will take a lot of stress off of you.
Very few small business owners have enough cash on hand to support any type of project with their own money—they will have to take out a loan. Fortunately, there are Arizona commercial real estate loans that can help make the project go much smoother.
There are many options when it comes to Arizona commercial real estate loans. The decision you make will … (0 comments)

hard money loan: Eager to Open an Arizona Medical Marijuana Dispensary? - 01/25/19 09:11 AM
If you have driven down any major streets in Arizona, you have seen medical marijuana dispensaries. Thinking of opening a small business? A dispensary may be a great option. But, how do you get a loan for an Arizona medical marijuana dispensary?
Even though there are many states that have legalized both medical and recreational marijuana—it still isn’t considered “legal” by the federal government. What that means to entrepreneurs looking to open a dispensary is a traditional bank will likely not lend to a borrower for this purpose. And, in all reality, it may be a very long time until banks will … (0 comments)

hard money loan: Why Would I Need an Arizona Bridge Loan? - 01/25/19 09:04 AM
So, you’ve put your house up for sale and you’ve begun to look around for your new, upgraded home. In no time at all you have found your dream home but, there is one problem—you haven’t sold your house.
Most people can’t afford to pay two mortgages. This is where a Arizona bridge loan comes into play. When borrowers want to buy a new home before selling their initial investment a Arizona bridge loan can give you the money for a down payment on a new home before the sale of the old home is complete.
Unless, you have stashed away a big … (0 comments)

hard money loan: How To Determine If Hard Money Will Work For You - 01/25/19 08:57 AM
Hard money loans are typically used by investors who need funding for an investment property quickly without the strict requirements of traditional mortgage lender financing. However, Hard Money Loans in Arizona can be used efficiently in other scenarios.
Essentially, hard money loans are short-term loans that provide financing to a borrower—these loans are secured by the borrower’s property. Texas Hard Money Lenders are private lenders. Because of this the hard money lender can be more flexible with their terms. Usually, these loans are right around a 12 month loan term. Typically, borrowers pursue Hard Money Loans in Arizona to finance their … (0 comments)

hard money loan: All About Texas Hard Money Lenders - 01/25/19 08:42 AM
You have probably heard about Texas Hard Money Lenders—but what exactly is hard money lending all about?
Texas Hard Money Lenders are private lenders who lend money using assets to back the loan. When a borrower needs funding quickly or when traditional lenders won’t approve a loan, a hard money loan is typically the best alternative.
When you apply for a loan, lenders require proof that you can repay them. Traditional lending institutions, such as credit unions and banks, are interested in your income and your credit score— this shows the capability to repay the loan and a solid history of responsibility. Banks … (0 comments)

hard money loan: Understanding Hard Money Lending - 01/25/19 08:32 AM
Even experienced borrowers often have questions about hard money lending and how it works.
Hard money refers to capital available outside of conventional lending institutions such as credit unions and traditional banks. A hard money loan is secured by the borrower’s real estate. Hard Money Loans in Arizona are typically used by real estate investors to quickly obtain the funds needed to purchase or refurbish a property. These loans can be used as bridge loans until a time when the borrower can secure more traditional financing or until they sell their property.
Hard Money Loans in Arizona are short-term loans-typically with one year … (0 comments)

hard money loan: Can You Get an Arizona Bridge Loan? - 01/25/19 08:25 AM
What exactly is a bridge loan? The definition of a bridge loan is “a sum of money lent to cover an interval between two transactions, typically the buying of one house and the selling of another.”
Basically, what this breaks down to is if you don’t have enough income to cover two mortgages at the same time, you can use a Arizona bridge loan to pay off your initial mortgage while you wait on the property to sell—all the while being able to purchase your new property. Bridge loans are short-term loans that borrowers can qualify for a mortgage on their new … (0 comments)

hard money loan: 3 Things to Know Before Approaching Residential Hard Money Lenders - 01/22/19 09:52 AM
If you’re a newcomer to fix-and-flips, residential Arizona Hard Money Lenders can be your best ally. Learn a bit about what they’re expecting before you apply to ensure you get approved.
1. Credit doesn’t matter, but experience does. One of the reasons why working with residential Arizona Hard Money Lenders is awesome is that your personal credit score doesn’t usually matter. You can have rotten credit and still get a loan to finance your flip. Newcomers can get financing as well, but the terms you’re offered are likely to improve as you gain more experience. If you’re cash poor but idea rich, … (1 comments)

hard money loan: Why Hard Money Loans are Interest-Only and What that Means to You - 01/22/19 09:16 AM
One of the biggest questions people have is, “Are Arizona Hard Money Loans interest only?” Generally speaking, they are, but you should know the benefits and pitfalls before jumping in.
One of the most misunderstood forms of financing is Arizona Hard Money Loans. Unlike traditional lending options offered by banks, these deals are most often financed by individual people, so you’ll also hear the concept referred to as private money. It’s leveraged quite a bit in the real estate industry. For example, someone in the fix-and-flip business might source funds this way. A real estate investor who intends to hold his property … (0 comments)

hard money loan: Top 5 Reasons People are Denied Arizona Business Loans - 01/22/19 09:04 AM
Roughly 77% of people can’t get Arizona Business Loans and lines of credit at all or in meaningful amounts. If one or more of them is holding you back too, you still have financing options.
The Small Business Credit Survey is an annual publication produced by the 12 Federal Reserve Banks. The latest version indicates that of those who apply, 23% don’t get any kind of financing and 54% don’t get the amount of cash they need. These shortfalls can effectively shut down a company or stunt its growth. Oftentimes, banks cite one or more of five main reasons for denials.
1) Insufficient … (0 comments)

hard money loan: Top 3 Tips for Getting First-Time Arizona Rental Property Loans - 01/22/19 08:51 AM
Getting Arizona Rental Property Loans as a first-time investor can be a challenge. With a little outside-the-box thinking, you’ll increase your odds of success.
We’ve come a long way since the market crash. Home values are climbing virtually everywhere and interest rates are low, making it a great time to purchase investment properties. However, if you’ve started looking into Arizona Rental Property Loans, you’ve probably noticed they’re not easy to get, particularly if this will be your first investment property. The good news is, you can still get financing, but you’ll have to be creative to make it work.
1. Have a sizable … (0 comments)

hard money loan: Harvard Study Shows You're Approaching Private Money Lenders wrong - 01/22/19 08:38 AM
You want to put your best foot forward when approaching Private Money Lenders in Arizona for funding, but research out of Harvard Business School suggests most people are approaching business situations totally wrong. Catering to people and bragging will not help you get ahead, but authenticity just might.
Prepare to be mind-blown. A collaborative study including researchers both Harvard and Wharton suggests you’re approaching business deals wrong, but then again, most of us are. The study looked at two distinct areas; how people view humblebragging and how they view catering. Both techniques are routinely used in business as a form of … (0 comments)

hard money loan: 3 Reasons Residential Arizona Hard Money Lenders are Avoiding You - 01/22/19 08:29 AM
Are you eager to get into the fix-and-flip game, but discovering residential Arizona Hard Money Lenders aren’t exactly jumping to support you? It probably comes down to one of three reasons, and the good news is, they’re totally fixable.
1. You’re inexperienced. People new to real estate investing make more mistakes and don’t have the experience to know how to handle surprise issues that surface during a project. Bear in mind, there will always be unexpected events that try to derail a project. At the very least, lack of experience costs money. At worst, it can leave residential Arizona Hard Money Lenders … (0 comments)

hard money loan: How Long Can Hard Money Loans Help You? - 01/18/19 11:12 AM
Hard money loans are used for many purposes and come with a variety of financing terms. Depending on who you partner with, you could have months or years to repay the balance in full.
Before getting into how long you have to repay Arizona hard money loans (HMLs), it’s important to distinguish what makes them different from other lending options. People tend to gravitate toward this form of alternative funding when bank options just won’t cut it. For example, if a business needs to buy equipment, but the owner has rotten credit and the business hasn’t established credit yet, he might turn … (2 comments)

hard money loan: Why Arizona Fix and Flip Loans Are Becoming Increasingly Popular - 01/18/19 10:53 AM
With the upward trending of the real estate market, Arizona Fix and Flip Loans are on the rise.
According to a recent data study done by ATTOM Data Solutions real estate flip returns are down: “Homes flipped in the second quarter of 2018 yielded an average gross return on investment of 44.3 percent.” The article continues to state that these returns are “down from 47.8 percent in the previous quarter and down from 50.0 percent in Q2 2017 to the lowest average gross flipping ROI since Q3 2014.” In other words, flipping returns are at their lowest since 2014 according to recent … (1 comments)

hard money loan: Benefit from Arizona Bridge Loans: Invest and Receive Quicker Returns - 01/18/19 10:22 AM
Weigh the short-term and the long-term with Arizona Bridge Loans to find an ideal investment situation.
According to an article in Investopedia, a Arizona Bridge Loans “is a short-term loan used until a person or company secures permanent financing or removes an existing obligation.” This means that the goal of a Arizona Bridge Loans is to obtain some sort of short-term loan in order to secure an investment. In the case of real estate investment, the goal of a bridge loan is to acquire possession of a property within a limited amount of time in order to obtain a more favorable loan … (0 comments)

hard money loan: Who Finances Arizona Spec Loans Investors? - 01/18/19 09:03 AM
Arizona Spec loan investors use hard money to take advantage of real estate opportunities.In real estate investing there are two common types of investments: investments in spec and in custom homes. To start, instead of meeting the general preferences of a larger community, custom homes are constructed with a specific client in mind. This client will have a drawn out and specific plan for the construction of the house. Floor plans will represent what an individual client finds appropriate, economical, and appealing. All of the supplies for building, the colors, and the arrangements will be considered and constructed based upon agreements … (0 comments)

hard money loan: 4 Benefits of Using Arizona Private Money Lenders - 01/18/19 08:30 AM
Who are Arizona Private Money Lenders, and why should they matter to you?Arizona Private Money Lenders are individual investors who are separate from federal institutions. Aside from conventional lenders who receive institutional money, rates, and regulations in order to lend money, private lenders loan out their own money to the individuals they see fit to loan to. They are small entities with their own interests and their own agendas, not an extension of the bureaucratic arm of federal lending.
There are several benefits to using private lenders. First off, generally speaking, Arizona Private Money Lenders tend to finance real estate that needs … (1 comments)

hard money loan: The Pitfalls of the Past: Dodd-Frank and Arizona Hard Money Loans - 01/15/19 10:11 AM
How has the Dodd-Frank Act influenced Arizona Hard Money Loans during and after the Great Recession?
It’s the mid-2000s. The housing market is on the rise as the price of homes increases. Due to this favorable uptick, more people are looking to acquire loans to buy houses. Lucky for them, there are less banking restrictions, and many people with subprime credit are getting funded. It seems great. The housing market continues to boom. Prices continue to rise. The economy’s strong. All of a sudden, Freddie Mac won’t accept dicey, subprime mortgages. This decision leads to peril for some major lending institutions who … (0 comments)

 
Mark Gowlovech (HomeSmart)

Mark Gowlovech

Phoenix, AZ

More about me…

HomeSmart

Address: 22601 N 19th Ave Suite 112, Phoenix, AZ, 85027

Office: (623) 582-4444



Listings

Links

Archives

RSS 2.0 Feed for this blog