What Hard Money Lenders Arizona is looking for?
Posted on July 16, 2010 - 08:58
Welcome to Real Estate Investing Today brought to you by hard money lenders arizona. My name is Ryan Wright and thank you for joining me. Today I want to talk a little bit about what Arizona hard money lenders are looking for. You know it really comes down to finding a great deal and if you want to get Arizona hard money lender to fund you it really comes down to finding a great deal. So how do you find a deal that you can get funded every single time?
Well I think there are lots of different ways to find a good property. One of the ways to find a good property is to talk to a real estate agent. Lots of real estate agents are tracking the multiple listing services, stay on top of things, and see what new postings are and what is happening. So a great way to find the property is to work with real estate agent.
Another great way to find properties is to find a real estate agent that works with a lots of banks, bank owned agents. Sometimes they will have properties that are not listed yet not on the market yet.
Another way to find great properties, hard money lenders in Arizona are going to be excited about is to go to find HUD properties. HUD, Housing Urban Development is going to have properties that are able to purchase. They allow for the first time, I think it is 10 or 15 days, they allow for first time home buyers but first time home buyers do not make a purchase within that time. Then they open up for investors as well and great deals can be found with HUD homes.
Another way to find great deals in Arizona is to go to auctions. Now there are two different types of auctions. There are real estate auctions, which mean that properties are owned by typically banks and they conduct the auctions and there are public auctions. And public auction is like a trustee sale, is a property is being foreclosed on it gets auctioned. And depending upon the rules of the State in which you reside in it is going to differ what is going to happen.
Another great way to find a property that hard money lenders in arizona are going to be excited about is to knock on doors. Farming a neighborhood can be extremely valuable way of finding a property. When you are doing that you are going to want to specifically talk to people with homes in the area that are in best repair. Every body wants neighborhood to be nice. And if neighborhood has some wildly homes. If you can get the names and telephone numbers of the people used to live there from the current neighbors that will be a great resource for you to find a property or track what is happening on that property.
Another technique to find properties that hard money lenders in Arizona are going to be excited about is to work with out of State owners, people that live out of the State. They may have a property they are unhappy about and do not want to deal with any more and they may be looking to sell that property at a great discount especially if the tenants have just trashed it.
Tax sale is also a great option to find a property. So it is any part of Sate where you are located there are tax sale that you might be able to find property by means of a tax sale.
Next way to find a property that arizona hard money lenders are going to be excited about is by working with lenders who may have access to people that need to sell their house, a quick sale type situation. This is not a fully exhaustive list but it is jut partial list of some ways that you can find a property that hard money lenders in Arizona are going to be excited about.
Lots of people are learning about short sales and how short sales work getting the bank to take less than what is owed on the property is becoming more and more popular and there are lots to be found there.