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What First-Time Homebuyers Need to Know About Purchasing a Fixer-Upper from DL


 Fixer-upper is a great way to make money in real estate.

Purchasing your first home is an incredibly rewarding experience but qualifying for a mortgage and coming up with the money for a down payment can be a challenge for many first-time buyers. This is what makes purchasing a fixer-upper so great: you can buy your first home at a lower price and with less money down, and you’ll have the option to sell the home for profit when you’re done remodeling it.

On the other hand, purchasing a fixer-upper as your first home does have some downsides as well. While it’s true that fixer-uppers enable you to purchase your first house at a lower price, you’ll typically need to pay for home renovations — and you may need to live in a construction zone if you choose to move in right off the bat. There’s also a chance that the fixer-upper could turn into a money pit, and you could end up spending more on renovations and repairs than you would a move-in-ready property.

There are pros and cons to purchasing a fixer-upper, and first-time homebuyers in particular need to consider it carefully. But if you’ve decided that you’re ready to meet the challenge of buying a fixer-upper, the following tips will help ease you through the process.

Pre-Qualify for a Mortgage

Getting prequalified for a home mortgage is the first step toward buying a fixer-upper unless you plan to purchase your first home with cash. Applying for a mortgage won’t be necessary if you’re paying with cash, but it’s still important to schedule a home inspection — even though you won’t be required to do so.

If you do wish to finance the purchase of your first home, an FHA 203(k) rehabilitation loan is an excellent option for fixer-uppers. Other options for financing are using a Hard Money Lender in Arizona.  These loans can be used to pay for the purchase of a house as well as your home renovations. Start by meeting with an FHA-approved mortgage lender to discuss your eligibility and provide verification of your income, credit history, assets, and employment.

Search for Fixer-Uppers

Once you’re pre-qualified for a mortgage, it’s important to hire a skilled and experienced real estate agent who can help you to find fixer-uppers for sale. Some of the things you’ll want to consider when searching for homes include:

The home’s location. Desirable locations are best, including those located in up-and-coming neighborhoods.

Home layout. Three-bedroom homes with one or more bathrooms tend to be the most profitable when flipping a fixer-upper.

The condition of the home. As the name implies, fixer-uppers need work. However, some problems (including structural, electrical, plumbing, and roofing issues) may not be worth the hassle.

Regardless of whether you’re required to pay for a home inspection, a professional inspection is something you won’t want to pass up as a first-time homebuyer — especially when you’re purchasing a fixer-upper. You may also wish to pay for a pest inspection, roof certification, and sewer line inspection.

Renovate Your New Home

After purchasing your fixer-upper, you can begin to renovate your new house! DIY renovations will usually be the most cost-effective option, but these could take months or years to complete if you don’t have a lot of experience under your belt. So search for professionals who have the skills and tools needed to renovate your kitchen, bathrooms, cabinets, and counters in a lot less time.

Decide Whether to Stay or Sell

Once you’ve completed your renovations and repairs, you’ll need to decide whether to live in the home or sell it for a profit. Joe Gomez of Opendoor shares some tips to help you determine whether you should sell the home or stay put for a few more years.  

If you plan to stay in the home after completing your renovations, you may wish to refinance your mortgage to take out money for additional home improvements and repairs, lower your mortgage payment, remove private mortgage insurance (PMI) from your home loan, or roll your mortgage and home equity line of credit (HELOC) into one monthly payment. There are advantages and risks of refinancing your mortgage, however, and it’s important to only refinance if doing so will be worthwhile

If you decide to sell – and you decide that you enjoyed the whole process enough to do it again – you might want to think about turning this into a regular business. For tax purposes, you’ll need to get an EIN, or Tax ID number, so that you can hire employees and protect your assets.

The Bottom Line

Purchasing a fixer-upper can be a great way to buy your first home at a lower price, but there are some risks you should be aware of before leaping. And if you decide that a fixer-upper isn’t right for you, other first-time homebuyer programs can help you to afford a move-in-ready home. Meet with a mortgage lender to go over your different options, calculate how much house you can afford, and begin your journey to homeownership!

If you’re looking for more information about purchasing,

fixing, and selling a fixer-upper, be sure to explore

the other content on Fix and Flip.

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 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 and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Your Guide to How Owner-Occupied Hard Money Loans Work


Owner occupancy hard money in Arizona means a borrower will use a property as their primary home.

Lenders use this distinction because they want to know whether you’ll be living in a property, renting it out, or selling for speculation “spec” purposes. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information.

 

There also are Arizona owner-occupied business loans, where you use the loan to improve or expand your business. Traditional hard money lenders in Arizona offer both types of loans, but many borrowers needing an owner-occupied loan don’t qualify for conventional loans.

 

For these borrowers, an owner-occupied hard money loan can be the answer. Hard money lenders make borrowing simple, based on common sense and the deal’s merits. Learn how borrowers can qualify for an owner-occupied loan from Applewood Funding Group, the leading Arizona private money lender.

What is a Hard Money Loan? 

Private investors, rather than banks, fund hard money loans. Typically, they offer borrowers short-term funds for time-sensitive projects such as real estate investments or house flipping. But hard money lenders such as AppleWood Funding take loans to a higher level. 

Bottom of Form

 

Applewood Funding is a full service mortgage banking firm specializing in owner-occupied private money loans. The goal is to offer Arizona borrowers a valuable alternative to institutional financing. Applewood Funding offers quick funds for short-term projects and long-term owner-occupied consumer loans ranging from 20 to 30 years. 

 

Arizona Hard money loans also help consolidate debt and improve credit, acquiring second, third, or fourth mortgages and cashing out on properties with equity to finance business deals and improvements. 

 

Need assistance solving legal or estate issues? Consider an owner-occupied hard money loan for:

o   Legal or divorce settlements

o   Dissolving a family trust

o   Settling estate inheritance issues

o   Resolving probate issues

o   Purchasing or refinancing properties with deferred maintenance or safety issues

o   Paying off a bankruptcy

 

They also are an ideal option for self-employed borrowers who banks reject for not having solid credit or enough proof of income.

 

Applewood is one of the only Arizona hard money lenders offering borrowers owner-occupied consumer-purpose loans in addition to business-purpose loans. 

 

Owner-Occupied Hard Money Loans

An owner-occupied hard money loan offers borrowers many finance options. While traditional lenders can provide these types of loans, the requirements are often too strict and unforgiving. In addition, many borrowers have unique situations and need unique opportunities to give them the funding they seek.

Business Purpose vs. Consumer Purpose Hard Money Loans

Why are consumer-purpose hard money loans so rare in Arizona? This is a result of the 2008 recession and the Dodd-Frank Wall Street Reform Act, signed in 2010. This act aimed to protect taxpayers and consumers from investment risks taken by banks. 

 

After Dodd-Frank was signed, banks had to work hard to prove that borrowers understood loan risks, and they had to verify a borrower’s credit history, income, and job status.

 

Most Arizona hard money lenders stopped offering owner-occupied consumer loans due to the new regulations, even if they continued to provide business-purpose loans. But Applewood Funding recognized this need was still very much alive.

 

The difference between consumer-purpose and business-purpose loans lies in how the borrower uses the loan.

 

Borrowers can use consumer-purpose loans for:

o   Purchasing a primary residence

o   Refinancing their home

o   Remodeling their home

o   Acquiring a second, third, or fourth mortgage

o   Consolidating debt

o   Operating as a bridge loan

o   Settling legal, estate, or probate issues

 

Business-purpose loans for:

o   New business start-up costs

o   Purchasing or improving a property

o   Operating capital

o   Purchasing new equipment

o   Buying out your partners

 

Qualifying for an Owner-Occupied Hard Money Loan

With Applewood, qualifying for an owner-occupied hard money loan is simple. First, the team will want to see a short submission story and the property address. Beyond that, deals are examined on a case-by-case basis, so requested documentation can vary but remains uncomplicated.

 

Our team may look at a borrower’s assets and bank statements to make our decision. The process is common-sense driven, and we strive to make those fantastic deals possible for borrowers when banks have determined they are too complicated. Banks often run into seasoning issues, requiring a borrower to have six months to two years of income history. We can qualify you for a loan even if you just got a job yesterday.

Owner-Occupied Second Mortgage Hard Money Loans

Applewood Funding offers owner-occupied second mortgage hard money loans for business or consumer purposes. By using the equity in a borrower’s current home. Consumer purposes of paying off high-interest debt or for legal settlements. Business purpose can be used for business growth opportunities.

 

o   Property types include:

o   Single-family or multi-family residence

o   Commercial, construction, industrial, or land

o   Hard Money Loans vs. Conventional Mortgages

 

While Arizona hard money loans are simple, straightforward, and quick, conventional mortgages from banks have many more requirements. The strict documentation required for a chance at approval includes:

 

High credit score

o   Low debt-to-income ratio

o   Proof of income and tax records

o   No bankruptcies or foreclosures

 

There used to be more options for borrowers in the form of non-qualified mortgages, but these dried up due to COVID-19’s effects on the marketplace. The ideal choice for unique borrowers is a private money loan.

Owner-Occupied Hard Money Loan Example

Hard money loans in Arizona are ideal for many Arizona borrowers and situations. The speed, flexibility, and common-sense approach can make growing businesses and families much easier and less stressful.

 

An Arizona hard money loan can be the best choice if a borrower is looking to purchase their first home but can’t go the traditional route. And if they need to get a second mortgage to gain access to precious equity, it can be a life-changing way to get their lives back on track by redeeming their credit and cracking down on old debts. In addition, business owners can have more freedom to expand and make processes more clean and efficient.

 

Plus, borrowers can acquire a loan by negotiating terms directly with the lender rather than adhering to strict credit and income requirements. Applewood also offers non-owner-occupied hard money loans, which are helpful for house flippers and real estate investors.

 

Applewood Funding can provide:

o   Same-day approvals

o   Closing in as fast as seven days

o   Common-sense underwriting

 

Our team is dedicated to using an honest, straightforward approach to all deals and building long-term relationships with our brokers and borrowers, ensuring long-term success for all involved and a lifetime of great deals. Contact us today to speak with our team about your unique situation, ask questions, and get started.

 

We look forward to working with you.

 

Dennis Dahlberg
Broker/RI/CEO/MLO
Applewood Funding
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (602) 497-4444
Texas Tel: (512) 516-1177
Dennis@applewoodfund.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

 

Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing a full application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to one of our licensed mortgage experts. Terms and conditions of all loan programs are subject to change without notice. Level 4 Funding LLC, 22601 N 19th Ave Suite 112, Phoenix AZ 85027, 623-582-4444 NMLS 1018071 AZMB 0923961 This e-mail is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the e-mail from your computer and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this e-mail nor any attachments establish a client relationship, constitute an electronic signature or provide consent to the contract electronically, unless expressly so stated by Dennis Dahlberg RI/CEO, Level 4 Funding LLC, in the body of this e-mail or an attachment. To the extent, this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice.
 

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.


© 2022 Applewood Funding. All Rights Reserved.
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Ways To Flip Houses With No Money & Bad Credit

Nowhere does it say an investor needs to fund a deal with their money. As it turns out, there are several options for funding a deal made available to today’s investors, none of which will require you to use capital from your pocket. It’s pretty easy to argue that using other people’s money is the gold standard, at least when investing in real estate. If for nothing else, private lenders, hard money lenders, and any house-flipping investors interested in making money are all more than viable options to seek out for your next deal. Here are a few options to help you learn how to flip a house with no money:
1. Private Lenders
More often than not, private lenders will serve as an investor’s most significant funding source. After all, private money lenders are essentially banks without the endless hoops to jump through what most traditional lenders have become synonymous with. That said, Arizona private lenders are anyone with a few extra dollars in their pocket, a desire to invest, and a propensity to have their “ears bent.” Perhaps even more importantly, they are not associated with a financial institution or a government-backed agency, such as Fannie Mae or Freddie Mac. That’s an important distinction; they can make their own rules.
With the ability to set their parameters, Arizona private money lenders will typically come at a steep price; it’s not uncommon for their fee to rest somewhere in the neighborhood of six and 12 percent, but I digress. While the average private money lender rate is slightly higher than a traditional lender’s, they can have the money in an investor’s hand in a few days or even hours. Therein lies the most significant benefit of working with private money lenders: speed of implementation. The slightly higher interest rate is well worth the cost of admission if it means an investor can secure funding in as little time as possible. Not surprisingly, most investors will find that the speed at which they can make an offer is more important than the interest rate it comes with. On the other hand, traditional banks may take as long as 30 to 45 days to close on a loan or just long enough to let a deal slip through your fingers.
Most private money lenders will require a bit of an insurance policy or, more specifically, a promissory note and a mortgage or trust deed on the subject property. Some private lenders will even want borrowers to take it further and guarantee the loan with their assets, but everything is negotiable.
2. Hard Money Lenders
In their simplest form, hard money lenders are lending companies that offer specialized short-term real estate-backed loans. Unlike their private money counterparts, they are affiliated with a company specializing in lending. However, Arizona hard money lenders typically offer shorter loan terms to avoid confusion with traditional lending institutions. Transactional lenders will offer loans up to 15 and 30 years, but Phoenix hard money lenders tend to stick with a six-month to two-year window.
Besides their affiliation with an actual company, hard money lenders will operate much like private money lenders. Not only are their lending guidelines much looser than traditional institutions, but their rates are also slightly higher. Hard money lenders in Arizona usually ask for about 11 to 15 percent and about five points (additional upfront percentage fees based on the loan amount). However, it is worth noting that there are no universal Arizona hard money lender guidelines; each will be complete with a different set of criteria.
According to New England Home Buyers experts, “You can fund all home repairs using hard money lenders. Unlike traditional bank loans, hard money borrowing is not contingent on your creditworthiness. However, fees and interest rates for hard money loans are frequently higher. Note that interest rates might range from 8% to 15%, and points can range from one to five”.
It is also important to note that most Arizona hard money lenders will usually only loan a percentage of the purchase price — typically around 70 percent, to be exact. That will require most investors to look elsewhere if they don’t want to spend any money out of their pockets, perhaps a private lender.

What Is The 70% Rule In House Fix and Flip Lender?

Home flippers have a straightforward business model: they buy a house for a low price, renovate it, and then resell it for a more fantastic price. The purpose of a flipper is to buy low and sell high to maximize their earnings. When flippers are looking at real estate listings, the 70 percent rule can come in handy. Essentially, it states that investors should pay no more than 70% of a property’s after-repair value minus the cost of the repairs required to refurbish it.
A property’s after-repair value, or ARV, is the amount a home could sell for after being renovated by a fix and flipper. When purchasing a home to flip, investors must estimate how much the property will sell for after it has been renovated. They can then multiply that figure by 70% and deduct it from the estimated renovation cost. The result is the most that flippers should be willing to pay for that home or property. The formula for the 70% rule is:
After-repair value (ARV) ✕ .70 − Estimated repair costs = Maximum buying price

The critical thing to remember is that the 70% rule is merely a guideline. Before purchasing a house, you should research market conditions, consult with real estate professionals to acquire a more realistic resale estimate, and meet with contractors to determine how much repairs will cost and which upgrades are required.

How To Find Arizona Hard Money Lenders

Hard money lenders are located nationwide; you need to know how to find them. The easiest way to find them is by searching online for Arizona or Phoenix hard money lenders in your area. You will find results for companies with hard money loans that you can contact here. Attending real estate investor meetings is a great way to network with Arizona hard money lenders looking to work with potential borrowers. You can also reach out to other real estate professionals in your network who have experience working with these lenders or know of a contact you can contact.
Matt Prosory RI/MLO/Broker
NCO Enterprises LLC
Dba Setabay Private Hard Money
26731 N 90th Drive
Peoria AZ 85383
Telephone: 623-582-4444
NMLS 2062278 NMLS 1118493
 
Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing an application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to a licensed mortgage expert. Terms and conditions of all loan programs are subject to change without notice. NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 This email is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the email from your computer, and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this email nor any attachments establish a client relationship, constitute an electronic signature, or provide consent to contract electronically unless expressed by Matt Prosory RI/CEO, in this email or an attachment. To the extent, this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice. This email is an advertisement.

People are making a lot of MOOLA in Real Estate Are YOU?

View this email in your browser (us11.campaign-archive.com/?e=9886ca8ee5&u=75b20992fb81bd4c67ed6fe3c&id=360dbe7045) Fix – Flip – Rehab Loans (level4funding.com/) Up to 90% Loan to Value Competitive Rates
More Information (level4funding.com/fix-and-flips-loan-for-fix-and-flipping-loans-for-flippers-in-arizona/) Matt Prosory RI/MLO/Broker (level4funding.com/) NCO Enterprises LLC Dba Setabay Private Hard Money (level4funding.com/) 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 ———————————————————— Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing an application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to a licensed mortgage expert. Terms and conditions of all loan programs are subject to change without notice. NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 This email is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the email from your computer, and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this email nor any attachments establish a client relationship, constitute an electronic signature, or provide consent to contract electronically unless expressed by Matt Prosory RI/CEO, in this email or an attachment. To the extent, this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice. This email is an advertisement.
Copyright © 2023 Setabay Private Hard Money, All rights reserved. 4
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Are Home Flippers Get Burned by US Housing Market’s Sudden Slump?

After an abrupt end to the US housing boom, home flippers who were winning big just months ago are now racing to stem losses.

Since January, the doubling of mortgage rates has crushed buyer demand and depressed values in investors’ most favored locations, from Phoenix and Las Vegas to Jacksonville, Florida. It’s a swift turnabout for flippers such as those stuck with homes to sell and loans to pay.

Investors say, “It’s a high-risk, high-reward business — and now we’re facing the high risk, and I’m just praying for break even.”

Flippers with loans must repay them, and rising interest rates make carrying costs even more significant. Their troubles can reverberate across the market: Just as investors bid prices higher on the way up, they can accelerate the move downward.

For most fix and flippers, the focus will be on selling, and the faster, the better. A small number will keep buying even though finding truly undervalued homes is near impossible and a guessing game of how far the market will drop.

Home-flipping activity reached a record at the start of the year, making up one in 10 transactions, surpassing the levels in the last bubble, according to Attom, an Irvine, California-based data provider, which tracked sales of properties that previously sold within the last 12 months. While the share remains elevated, it fell to 8.2% in the second quarter of 2023.
Conditions have deteriorated more since then, with mortgage rates near the highest level in 20 years. Demand has cooled particularly fast in Sun Belt markets such as Phoenix, Jacksonville, and Atlanta, pandemic boom areas where affordability has been strained. Fix and Flippers made up about 14% of transactions in those regions in the second quarter, but those shares sank in July and August, according to more recent monthly data provided by Attom.
Phoenix property investors have had to slash prices after the slowdown caught investors. A lot of investors are getting hammered.
Losses will grow, but even thin margins are a big problem when you’re a full-time flipper.
We have hard-money loans with 10% to 14% interest rates. It’s a constant dance — do I wait it out, or does the price drop? Both cost money.

For the most part, investors are paying back their loans, said Matt Prosory RI/Broker at Level 4 Funding, a hard-money lender in Phoenix, Colorado, and Texas. The default rate was 1.25%, which has climbed to 2.5% in the past two months. But it remains below pre-pandemic norms.

Matt said fix and flippers with nicely renovated turn-key properties will stand out in this market. But it will be painful for those who overpaid, counting on rapid appreciation to make them money, he said.
“Lots of them, in hindsight, were making bad buys. Anybody fix and flipping right now must look closely at the property pricing: Price it to sell. Today is not the time to get greedy.
 
Phoenix flippers are trying to put things in perspective. Flippers have purchased much more over the last two years than they will likely lose. Fix and Flippers are giving back the money they made.
I ask my flippers if flipping is dead or at least dying. Here in the Phoenix, Arizona, metro area, I have watched the margin on deals become slimmer and slimmer. During the past few years, television shows and seminars have flooded the flipping market with people who believe flipping homes is an easy way to riches. Trustee auction prices are near MLS prices (retail), and I cannot believe what people are paying.
I recommend that flippers take an extended vacation and return later to see how the market is going.
 
Matt Prosory RI/MLO/Broker
NCO Enterprises LLC
Dba Setabay Private Hard Money
26731 N 90th Drive
Peoria AZ 85383
Telephone: 623-582-4444
NMLS 2062278 NMLS 1118493
 
Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing an application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to a licensed mortgage expert. Terms and conditions of all loan programs are subject to change without notice. NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 This email is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the email from your computer, and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this email nor any attachments establish a client relationship, constitute an electronic signature, or provide consent to contract electronically unless expressed by Matt Prosory RI/CEO, in this email or an attachment. To the extent, this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice. This email is an advertisement.

Are you making moola flipping homes?  ✅💯🔆

See how this person is mackling a boat load of money flipping homes..😃
** SouthCreek Flips Shows Us How to Fix-and-Flip Like a Boss (level4funding.com/) ———————————————————— As you may know, Level 4 Funding is a hard money lender, and we help many people realize their dreams, especially those who focus on fixes and flips or rehabs (level4funding.com/) . Occasionally, we come across someone whose story and work are just too inspirational not to share. Pam Bauer and Marsha Burton of SouthCreek Fix and Flips (level4funding.com/) are two such people. Marsha was kind enough to talk briefly about their recent flips and what keeps them in the business.
** Pam’s Been a General Contractor for 25 Years ———————————————————— A background in the industry makes the transition to flipping houses much more accessible. Pam’s 25 years of work as a general contractor gave her an excellent background for fix-and-flips. With nine years of direct fix-and-flip experience and Marsha as a partner, SouthCreek Flips has completed 18 properties in 3 years.
** The Pair Follows the Motto, “The Uglier, the Better” ———————————————————— While those just getting into the fix-and-flip business (level4funding.com/) will likely want to select modest projects, the expertise these ladies bring to the table means they can tackle homes that others might shy away from. “Hoarder houses,” as Marsha calls them, are a favorite. The pair explicitly targets homes that might appear beyond help to others due to trash and debris, filth, or shoddy upkeep, and often networks with realtors and other real estate investors to help ensure the suitable projects land with the right rehabbers.
** Carving Out a Family Paradise is its Reward ———————————————————— Even though fix-and-flips can be lucrative if you know what you’re doing, Marsha says they’re driven by more altruistic means. The pair works primarily in low-income areas, restoring 2-3-bedroom homes for people who want a nice place to stay near family but can’t find quality housing. Her favorite project to date involved rehabbing a hoarder house with mold problems. The house sold before it even listed for more than the asking price because the buyer was so excited to have the opportunity to purchase a lovely home near his mother. Check out the stunning photos of it below!

** After All These Years, Some Homes Still Come with Surprises ———————————————————— Those who do fix-and-flips for a living (level4funding.com/) have expert eyes and know how to size up a property well, but even the pros find ugly surprises from time to time. We asked Marsha what their biggest surprise was thus far. “We noticed some plumbing was a little corroded when replacing a fixture,” she explained. “You can rig a house to death and put it on the market and Pam, and just I can’t do that.” So, they did what they always do: address the corroded plumbing. Unfortunately, this led to an unsavory discovery: a former owner created his sewer system with cinder blocks. The pair were forced to drill it all out, remove it, and replace it to code.
** Watch for More to Come from SouthCreek Flips ———————————————————— The dynamic duo has been focused purely on their projects thus far and doesn’t have a digital footprint yet, so be on the lookout for a website in the future. You may also catch their current project on Garfield, which will be hitting the listings any day now.
If you liked hearing Pam and Marsha’s story, come back here as we continue to highlight more of the great things Level 4 Funding clients are doing with their hard money loans or contact us directly if you think you’ve got what it takes to become a home rehabber and need funding for your project.

Matt Prosory RI/MLO/Broker (level4funding.com/) NCO Enterprises LLC Dba Setabay Private Hard Money (level4funding.com/) 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493
Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing an application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 – 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to a licensed mortgage expert. Terms and conditions of all loan programs are subject to change without notice. NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 This email is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the email from your computer, and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this email nor any attachments establish a client relationship, constitute an electronic signature, or provide consent to contract electronically unless expressed by Matt Prosory RI/CEO, in this email or an attachment. To the extent, this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice. This email is an advertisement.
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Considered Using A Hard Money Lender?

One of the most common hurdles for new investors is finding money to fund their deals. While this can be a struggle at times, finding the capital you are looking for is currently more accessible than ever. Between lines of credit, private lenders, retirement funds, credit cards, and traditional bank loans, numerous options are available to those who know where to look. The key is to find a funding source that works for you. Often, that source will be a hard money lender. The hard money lender in phoenix has gotten a bad rap over the years but has proven a reliable way to fund deals. If you don’t have a hard money lender in Arizona outlet or have yet to use one, now may be the time to find as much information on them as possible.
A hard money lender is an individual or group of individuals that lend money on their own terms. They put stock in the property and the real financials of the borrower more than anything else. With traditional lender financing, if your credit score falls below a certain threshold you may have trouble getting approved regardless of other factors. However, Phoenix hard money lenders have their own set of criteria. For this flexibility, there are more fees and higher interest rates to deal with. Some investors will balk at those opting for lower rates that banks offer. This can work on certain properties and deals, but you need to be able to act quickly on those that are time-sensitive, and that’s exactly what hard money allows you to do. Here are just a few of the benefits of using a hard money lender:
1. Speed: In today’s real estate landscape, how quickly you can close is often more important than the amount you offer. Too many lenders have been burned in the past waiting for deals to close that never do. Even if they do close, the average length of a financed transaction approaches 45 days. Most sellers would rather take a slight discount with the assurance they can close in a week than risk closing in 45 days. This speed gives you the ability to make offers with five or seven-day closings. On borderline deals, you can bet that your offer will be the one that is accepted.
2. Volume: Instead of waiting 45 days to start working on the property, you can cut the time down to just a few weeks. Shaving a few weeks off every rehab project you start gives you the opportunity to close more deals over the course of a year. Adding just one or two deals to your portfolio will increase your bottom line exponentially. Often, you may be able to close two or three times the volume you closed the previous year. When the number of deals, you complete starts to creep upward, so will the number of contacts you make. The people you meet are just as important as the deals themselves, if not more so. Remember, real estate is a people business. The more deals you do, the more contacts you can make. In turn, those contacts may even lead to more deals.
3. Quality: Having capital to close is only part of the benefits that coincide with Arizona hard money. With hard money in your corner, you could do whatever needs to be done for the property. Instead of cutting corners to save money, you can do the work that you know needs to be done. This will help you maximize your bottom line and improve your reputation in the industry. Realtors and fellow investors who see your finished products may want to work with you down the road. Quality will also help get your property sold to end buyers much faster. Instead of hoping that an offer comes in, you will have your choice of deals to choose from.
4. Bigger Projects: Increased capital allows you to slowly build your way up to bigger projects. Instead of looking solely at single-family properties, you can start to look at multifamily and commercial deals. Furthermore, closing more deals will increase your personal capital and give you a larger share of bigger deals. There is nothing wrong with sticking to condos and single-family properties, but having hard money behind you gives you the opportunity to explore other options that come your way.
Aligning yourself with a hard money lender doesn’t mean you have to use them on every deal. A property that you want to buy, and hold may be better served with a long-term interest rate of around four percent. However, most rehab projects need the efficiency that hard money brings. The goal should be to save some capital from every deal until you have enough saved to fund them yourself. Until you get to that point, you may have to make a little less per deal to increase your bottom line.
The biggest knocks on hard money are the high fees and points. These accrue from the time of settlement until you can sell the property. In some cases, it can span several months. However, it is a small price to pay for what you get. The annual interest over just a few months is a relatively small factor compared to all the other expenses you will incur. Additionally, you only pay these on deals you close. If you can’t close, you can’t earn, and hard money helps you close more deals. It is not for everyone in every deal, but should be a part of your financing options.
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 the Author:  Dennis has worked in the real estate industry for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the excellent investment opportunities trust deed investing and hard money loans provided. 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 two beautiful daughters and five amazing grandchildren. Dennis has been an Arizona resident for the past 45 years.

DIY Decorative Glass Jars:

DIY Decorative Glass Jars: Put Vinyl on Mason Jars without a Cricut Machine.

Add vinyl on mason jars to make quick and easy decorative glass jars for fall.

This simple technique will have you adding these jars all over your home. Welcome, fall, with a friendly greeting! Fall jars are my absolute favorite thing to decorate with. Adding vinyl without a Cricut machine to the front is easy and can be completed in minutes.


Thank you for joining Lucy and me today. Hope to see you next time.
Joan@CraftingWithJoan.com” target=”_blank” style=””>Joan@CraftingWithJoan.com

Fun to Make Flip Flop Cookies For Summer Treats

DIY Flip Flop Cookie Fun To Make

DIY Flip Flop Cookie Fun To Make For Summer Treats

Easy DIY Flip Flop Cookies made from Nutter Butters, candy coating, and colorful candies. Make this summer a little sweeter by kicking it off with our Flip-Flop Cookie Tin. This colorful round tin is decorated with summertime flip-flops and comes with our deliciously sweet ten original cookies and two frosted cookies. This easy no, bake dessert is perfect for summer parties! NUTTER BUTTER FLIP-FLOP COOKIES THAT ARE SUPER EASY TO MAKE If you are planning a beach theme party, nothing can be more perfect than these nutter butter flip-flops cookies. Flip Flop Cookies are so Adorable and super Easy to make! All you need is just a few ingredients, and you can make a ton of these quickly. Such a fun idea for Summer!

Making a Beautiful DIY Summer-Themed Wreath

Making a Beautiful DIY Summer-Themed Wreath – Nice Home Décor – for A Stylish Front Door

We’re curating the best examples of  Stylish Front Door wreaths and door decor for your summertime porch with this board. Scroll through for inspiration to decorate your door. Summer wreaths deserve to be part of your warm-weather decor during the other half of the year when DIY spring wreaths feel too seasonal. Find Inspiration, Decorating Ideas & Smart Solutions for Your Holiday Season. Get Ready For the Holidays and Find Seasonal Door Wreaths.
 
https://youtu.be/kl0EIFLD2Mo
Thank you for joining Lucy and me today. Hope to see you next time.
Joan@CraftingWithJoan.com” target=”_blank” style=””>Joan@CraftingWithJoan.com