Something you need to consider is how quickly the funds will be available from your hard money lender Arizona. Many times, when you find investment properties, you need to move quickly. Your ability to get access to Arizona hard money quickly can make all the difference. It’s important to begin relationships with potential private money lenders Arizona as quickly as possible. You also need to be aware of pre-payment penalties. Pre-payment penalties can really hurt your deal and cut into your profits substantially. Try to avoid pre-payment penalties when you look for private money lenders Arizona.
Many private money lenders Arizona today will also require you to fill out a credit application that may ask you for W-2’s and or tax returns, your most recent pay stubs, and bank statements. Again, it’s all about protecting their assets. Yet, some like the old fashion way where they only care about the deal so they do a drive by or physically look at the property. Again it all depends on whom you deal with. It’s very important to pinpoint that hard money lender Arizona that you want to work with and make sure that you can get the terms that you need in order to successfully make the type of profit that you need.