![](https://biggerpockets.s3.amazonaws.com/assets/member-blog-image.jpg)
![](https://biggerpockets.s3.amazonaws.com/assets/logo@3x.png)
Arizona Hard Money Loans: Why you need more Debt
When it comes to , you want more debt, not less. Having more debt might not sound like good financial advice, but in the case of fix and flips, it is.
The best-laid plans of fixers and flippers often go awry.
Line by line you might have your project priced out down to the very nails you plan to use to install the kitchen cabinets. Your schedule might have a minute by minute breakdown of how work will proceed, “On April 16th, from 10:10-10:15, remove the carpet in the second bedroom, from 10:15-10:35 install new carpet,”
Maybe your plan probably won't be this detailed. But you might do a lot of homework and think you might only need so much financing, but if you do run out of funding…
It's going to be hard to get other Arizona Hard Money Lenders on board with your project if things go wrongIf you run out of money and you need more financing here's why it might be impossible to qualify:
So let's see what could happen if you don’t apply for extra funding ahead of time.
With flips and , if you apply for too little, you won't be able to take care of unexpected difficulties.Here are two common things you could face in any flip regardless of how thorough your plans were:
What can you do to avoid these disasters? It’s simple don’t run out of money. Before starting a flip always apply for more financing than you think you might need.
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
[email protected]
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
© 2016 Level 4 Funding LLC. All Rights Reserved.
Copyright | Privacy Policy | *Terms & Conditions
Comments