Step-by-Step Guide to Obtaining a Hard Money Loan

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value.   Phone / Prefer cell: 520-975-5207
Office: 480-948-5554 or email me
walterunger@ccim.net.   –       What is a CCIM.  

In Business and in Life you don’t get what you deserve, you get what you Negotiate.

contact me if you want me to get you the value of your property.

CLICK HERE TO VIEW ALL MY LISTINGS.  

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Walter Unger CCIM – cell: 520-975-5207 –  walterunger@ccim.net

Getting a hard money loan can be a good way for people who want to invest in real estate to get money, but it’s important to know how to apply for one. In this blog post, we’re going to explain each step in a simple way so that you can understand how to get a hard money loan.

Step 1: Find the Right Lender for Your Needs

First, you need to find a trustworthy hard money lender that lends money for real estate projects. Look at things like how much they charge for the loan, what the interest rate is, what other people say about them, and if they have experience in the area where you want to invest. Picking the right lender is really important so that you can apply for the loan in an easy way.

Step 2: Learn the Rules

Next, you should understand what the lender wants from you. These types of loans are usually based on the value of the property you’re investing in. The lender also looks at things like how much you know about real estate, your credit history, how much money you’re putting in, and how you plan to make money from the property. Knowing these things will help you know if you can get the loan and how to get ready for it.

Step 3: Have your Documents In Order

Get all the papers that the lender needs for the loan application. The documents you need might be a purchase agreement for the property, a report that shows how much the property is worth, your ID like a driver’s license, documents that show how much money you make or how your finances look, bank statements, tax statements, and any construction plans for fixing up the property. It’s important to have all these documents ready so that applying for the loan goes smoothly.

Step 4: Fill Out the Loan Application

Complete the loan application provided by the hard money lender. This application will ask you about the property, your personal information, and why you want the loan. Make sure you answer everything correctly and carefully so that there are no problems or delays.

Step 5: Get Help from the Loan Officer

After you send in your application, someone from the lender’s team, called a loan officer, will help you. They will check your application, make sure everything is okay, and decide if they can give you the loan. They’ll also help you if you have any questions or concerns and keep you updated about what’s happening.

Step 6: Property Evaluation and Underwriting

The lender will look at the property and your plans to make sure everything makes sense. They’ll see how much the property is worth, what you want to do with it, and if it’s a good idea to give you the loan. They might also ask for an appraisal to check the property’s current and potential future value.

Step 7: Loan Approval and Terms

If the lender thinks everything looks good, they’ll approve your loan. They’ll also tell you exactly how much money you can borrow, how much interest you need to pay, when you have to pay it back, and any other terms for your loan. Make sure you understand all of this before you agree to the loan.

Step 8: Closing and Funding

Once you accept the loan offer, the closing process begins. This involves preparing the necessary legal documents, such as the promissory note and deed of trust. You may be required to work with an attorney or a title company to facilitate the closing process. Once the documents are signed and the necessary funds are provided, the loan will be funded, and you can access the funds for your real estate project.

FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Walter Unger CCIM

Associate Broker

West USA Commercial Division

14350 N. 87th. Street, Suite 180

Scottsdale AZ, 85260

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

14350 N. 87th. Street, Suite 180

Scottsdale AZ, 85260

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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  Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

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