We all see those commercials beckoning us to go to California to visit. What if you want to stay, though? Sure, the traffic and smog can be unbearable at times, but California has a great real estate. When you are living a such a fast-paced city it is easy to get jaded. With cities like Los Angeles and San Francisco, it is easy to get in over your head when taking on a new property.
So, what do you do? Well, that is what Level 4 Funding is for, we have the tools you need to be a successful real estate investor in California. As far as real estate goes the west coast can be one of the toughest places to “stake your claim.” Clichés aside here are a few tips that you can implement to be successful in the real estate business in the Golden State.
It is better to have allies in the real estate business
When you are getting into the business, it is beneficial to have as many people in your corner as possible. For some, it may be investors, but for many, it will be lenders. Hard money lenders in California act as gatekeepers on the market. They can tell you where to look if the property you scoped is not the right fit, or they can give you advice on how you should restructure your approach.
Having a lender that is willing to teach you the basics of borrowing and lending will pay dividends in the future. Yes, some of them will come off a money hungry profiteers, but most of them are here to help. A hard money lender in California can guide you in the right direction when you are looking for your next project. Maybe your focus should be on the Bay area instead of downtown LA. Above all having a solid lender in your pocket will allow you more money when the time comes and better resources.
Proper preparation makes perfect
Yes, that is a bit of a tongue twister, but alliteration aside this is spot on. One of the best things a new investor can do is research. Before you take out a loan or call an auctioneer, doing the proper research will help you tremendously.
This first thing you should do is research the market that you want to be a part of. If you want to focus most of your investments on beachfront bungalows, make sure you are looking at the geography of the surrounding area. Hard money lenders in California will take this as a sign that you are willing to put in the work for your property.
If you plan accordingly you will also be able to avoid some of the less than spectacular properties that will ultimately cost more money.
Above all make sure all your funds are in order
If you want to play in the big leagues you have to learn how to handle your money with care. One thing that puts many would be investors in the red is miscalculating the assets need for a home. Many times, there will be unexpected fees that you will need to pay, but you want to be comfortable when that time comes.
Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com 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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.