Hard Money can be difficult to come by these days. Broker Executives, Inc. has exclusive access to one of the Valley's premier hard money financing lenders. If you're an investor buying real estate to hold or buying to fix then flip, consider Broker Executives, Inc.. Our financing programs for real estate are long term, low interest and interest only to give you the maximum leverage for your cash.

Hard Money Terms:

• Up to 75% LTV
• 12% Interest Only
• 5 Year Balloon
• 4k Minimum Points added to loans, subject to change for higher loan amounts.

*Lending subject to using Broker Executives, Inc. as your buyers agent to obtain the property or sell your listing.

Self Employed Loans for 1099 Borrowers

Hard Money Loans can be used to buy bank owned properties, short sales, or purchase owner listed properties; however, each purchase requires credit, income review. While we do not qualify based on credit scores, it helps with determining risk factors. Income is considered but we understand if you're Schedule C is showing a loss due to being self-employed. Others things we may take into consideration are recent 1099's, pay-stubs, bank statements, 401k's, IRA's, stocks, Bonds and any asset statement will help us in deciding whether or not a hard money is possible with your purchase.

One of the best hard money lenders in the Valley works with Broker Executives, Inc.. No other lender will finance the length of the time we will. No other lender will carry your note for the low interest rate we can. In fact, most lenders in the hard money business charge 18% minimum and can call a note due within 3 years.

What can be bought using our Hard Money?

Broker Executives, Inc. and our investor only work with Residential Sales. Residential sales, include; Single Family Homes, Multi-Dwellings ( Duplex, Tri-Plex, Four-Plex and other Multi-Units) Condos and Townhouses. We do not lend on Manufactured housing or Mobile Homes due to the risk factor involved with the declining market and stricter lending guidelines for these units.

What you may do with the property once you use our Hard Money:

When you are approved with us for a Hard Money loan, Broker Executives, Inc. will represent you as your buyers agent. We will write up your initial offer and submit it to the owner/lender/seller for contract acceptance. Once your contract has been approved by the seller, normal real estate transaction laws apply. Just like a regular sale, you must have earnest money for consideration and open title at a local escrow company. Once this is complete, you may then choose to have a 10-day inspection period on the home. After the inspection is completed and you are satisfied with the property, we will wire funds to your title company for closing. After your funds have been delivered to the title company and the HUD-1 is sent to us, you can record. The recordation of title will be done after you have signed a promissory note which is a legal contract to place a lien on your property for the amount borrowed from our hard money lender. You have 5 years from the date of recordation to pay this loan off.

What happens if the hard money loan is not paid in full by the time it balloons?

Hard Money loans must be paid off within the 5 years. There's a reason for this. Our money cannot be tied up for 30 years! In all our promissory notes, there is verbiage which states, "$150.00 per day will be charged until balloon has been satisfied." We have never needed to enforce this. Most of our clients are able to pay off the loan within 3.5 years from date of recordation.

Carryback Servicing Company | Desert Investment Advisors, LLC

Once your loan has been recorded our managing partner, Desert Investment Advisors, will service your carryback. The costs to draft up a first deed of trust is $400.00. The servicing fee per month is $12.00 per amount impounded. If you choose to have taxes, insurance and HOA impounded, the total costs will be $48.00. We strongly advise you do not impound, unless it's necessary.

Pre-payment Penalty Fees

There are no early pre-payment penalty fees. Each loan can be paid off within a couple days of maricopa county recording the cloud on title. We encourage early payoff and advise all our clients to pay off before the balloon date.

If you're an investor that would rather lend to make money instead of buying real estate, we have a solution! With our partner program, you can participate in the lending of your choosing. Hard Money financing is always in demand; however, like all supplies, they can quickly dry up. Once on our vendor list, we will contact you as properties become available that need hard money financing. You'll have the choice to look over borrowers credit, income and property information to assist you making a decision to lend or not.

How to get approved on our list of approved investors

A statement of assets that is current along with a standard contract agreement to a privacy statement is all that is needed to get approved on our list.