How Do Commercial Hard Money Lenders Make Money?

Understanding what hard money Loans are used for and how Commercial Hard Money Lenders determine the terms for the Loans is essential for all borrowers. This information helps you to understand why hard money carries a higher cost.

Commercial Hard Money Lenders are often referred to as nontraditional lenders. This term does not mean that they are operating outside of the law in any way. This entire term means is that these Loans are not from banks or mortgage companies, which are called traditional lenders. These are Loans from a person or small group of people who are in business to fund Loans. And because this is a for-profit business, there are fees and expenses that the borrower must pay.

Commercial Hard Money Lenders can determine their interest rate rather than having it set for them in the same way that banks and mortgage companies are regulated. In most cases, the lender will evaluate the loan application or request to determine how much risk is involved. They can then set the interest rate accordingly. It is not uncommon to see hard money interest rates as high as 10% to 20%. But borrowers are willing to pay the higher rate to get a loan that would never get funded by a traditional lender.

As with most Loans related to the purchase of property, the lender also charges the borrower points on the loan. Each point represents 1% of the loan value. Again, the lender is determining the points on the loan in accordance with the amount of risk he or she feels is involved in funding the loan. If the loan does not appear to be extraordinarily risky, then you could get a much better interest rate and pay fewer points on the loan. This is where your down payment can work in your favor. A very high down payment increases the instant equity in the property. It also greatly decreases the risk to the lender if you default on the loan.

Fees Charged By Commercial Hard Money Lenders

Hard money lenders can charge many different fees. Because they are not scrutinized like banks and mortgage companies, many of these fees can have unique names. But they are all designed to put a little bit of money back in the lender’s hand at the time the loan is funded. Some fees can include a funding fee, an appraisal fee, a processing fee, and an origination fee. If a lender is charging a considerable application fee, be cautious. In most cases, legitimate hard money lenders do not charge hefty application fees. This charge is the one best indication of a scam.

What You Get For the Money

While there are more substantial fees associated with hard money, you are getting a much higher level of service from a private lender. The payment schedule and other terms of the loan are all subject to negotiation with a private lender but not when working with a bank. In addition, private lenders are willing to lend to borrowers who have been turned down by banks and other lenders. If hard money is your only option, then it is worth paying more to get the loan that you need.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

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 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

The Best Deals to Use Commercial Hard Money Lenders

Not every loan is perfect for every type of deal. But some specific deals are ideal for using Commercial Hard Money Lenders.

Commercial Hard Money Lender is not the best choice for the average consumer who is looking to purchase a home. In most cases, these borrowers have a decent to good credit, a reliable and verifiable income. They are planning to keep the house for many years. It only makes sense for these purchasers to use a traditional loan from a bank or mortgage company. And to save a little money with the lower fees and interest rate, but for more nontraditional deals, an alternative option like Commercial Hard Money Lenders is a great match.

Arizona Land Loanand Loans for construction can be complicated to secure from a bank or mortgage company. The land does not work well as collateral because it has no structure or other improvements. Traditional lenders are going to shy away from Arizona Land Loansbecause it can be tough to recover their investment if the borrower defaults on the loan. Arizona Construction Loan present even more challenges because anything can happen when you are building a structure. There can be unexpected cost overruns, time delays for materials or adverse weather, or unforeseen issues with the site or construction process. All of these issues cost time and money. And they can also create financial problems for the borrower who could be forced to default on the loan. These types of Loans represent a higher level of risk that traditional lenders will not take, but a hard money lender will often fund these high-risk deals.

Time-sensitive deals can also be a challenge if you are using a traditional lender. The process of applying for a conventional loan often takes weeks. And then you are forced to wait weeks or even months to find out if the application is approved. This waiting game does not work when you are competing with other buyers on a Fix and Flip project or a property deal that is very desirable. While you are waiting for the bank’s approval, someone else is making the purchase with a loan secured from hard money lenders.

No Credit, No Problem

If you have no credit or have some challenges in your credit history, then you are not going to get a traditional mortgage. But hard money lenders are more interested in the values of the property than they are in your personal credit history. Hard money is also called asset-based lending because the loam request approval is based on the value of the property. Commercial Hard Money Lender will offer about 75 to 80% of the value of the property so that there is instant equity in the property. This process creates the security the lender needs in case you default on the loan, and he or she needs to sell the property to recover the original investment.

Use It Wisely

Just like any other financial investment or deal, hard money is a great choice when it is used correctly. For projects that are time-sensitive or are very unique, hard money is the way to go. And if you have credit issues, then hard money offers you an alternative to banks who will not approve your request. So for all of these deals, hard money is the right choice and a good investment.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

What It Costs To Work with Commercial Hard Money Lenders and Why

If you are not familiar with Commercial Hard Money Lenders, then you won’t understand why these Loans can be expensive. But there are many benefits that are worth paying the higher cost.

A lot of what you read on the Internet and in financial books and magazines will tell you that working with Commercial Hard Money Lenders are very expensive. And while there are costs involved in these Loans that are greater than the charges you pay for a traditional loan, you get a lot for your money. But most of these resources fail to explain the benefits of hard money and why it is a smart choice for many real estate investors.

The first piece of information that most borrowers ask about is the interest rate they will be paying. And while hard money Loans have a higher interest rate, sometimes as much as 20%, there are some very logical reasons for the increased rate. Commercial Hard Money Lender is private lenders who are free to select the interest rate that they charge their clients. But they do not simply choose a random rate for each loan. They have a process of accessing the amount of risk associated with the loan that is being requested and then charging what they believe is an applicable interest rate. So, the riskier the investment, the higher the interest rate, but when you consider the fact that a bank would not approve or fund a high-risk loan, then paying more for hard money seems like a simple choice. In reality, hard money might be your only choice.

Hard money Loans are usually a much shorter term than a traditional loan, which works perfectly for a real estate investor. Banks and mortgage companies write Loans for 15 or even 30 years. And if you pay the loan off early, you could be charged an early payoff penalty. But Commercial Hard Money Lender will work with you to customize the term of the loan and eliminate the penalty of paying off the loan early.

Down Payment Terms of Hard Money

When you take out a hard money loan, you will be required to make a substantial down payment. This money that you are investing in or putting down on the property creates instant equity. And that instant equity is suitable for both you and the lender. If you default, the lender is sure to recover his or her investment when the property is sold. The equity also works on your behalf. It provides you with the ability to make a more substantial profit when you finish the project and sell it. And even if the project runs into challenges, you have that equity to fall back on for additional financing.

Hard Money Is Worth the Higher Cost

Not every project is suitable for a traditional bank loan. And you might not want to be tied to a loan for an extended term. But when you are working with a hard money lender, you can customize the terms of the loan to meet your needs and the needs of the specific project. These Loans meet a need for many real estate investors who understand that the added benefits are well worth the added cost.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

3 Advantages of Commercial Hard Money Lenders

Commercial Hard Money Lenders specialize in meeting the needs of real estate investors. The Loans are legal and legitimate, even though they are called nontraditional Loans.

Real estate investing can present many challenges. And one of the most significant is finding a loan with the terms and in the time frame that works for a real estate investment deal. The solution that many real estate investors, flippers, and property rehab specialists use is offered by Commercial Hard Money Lender. These Loans are asset-based and offer the flexibility that is needed for the fast-paced world of real estate investing. Knowing the benefits of these Loans will help you to use them to grow your real estate business and your personal wealth.

Speed is critical to the funding of an investment loan. As you already know, when you don’t act quickly to secure a great property, the deal is dead. Someone else will beat you to it and turn the profit that should have been yours. But when you work with hard money lenders, your loan request can be evaluated and funded in less than a week. That is just a fraction of the time that it might take a bank to even begin to look at your loan application.

If you have ever tried to jump through all of the hoops required by a bank to secure a loan, then you will appreciate the simplicity of qualifying for hard money. While traditional lenders look at your credit score, work history, payment history, and current debt to income ratio, a hard money lender is really only interested in the value of the property that you are purchasing. Hard money lending is also called asset-based lending because the loan is based on the value of the asset, the property, and not your credit. This means that you can fund a great deal even if you have personal credit challenges or no personal credit history.

Unique Projects Need Commercial Hard Money Lenders

Banks and traditional mortgage companies are in business to serve the masses. They are looking at all of the cookie-cutter borrower’s needs. They have a system that allows them to make their money on the volume of Loans that they can process and fund. And because they need volume, they are not willing to invest the time required to investigate and possibly fund an unusual loan request. This is the wheelhouse of hard money lenders. These lenders are looking for a smaller number of Loans that require some work on the front end, but that pay off great in the end.

Risk Can Be Good!

Commercial Hard Money Lenders are not worried about taking a higher risk if the reward is also going to be more significant. Unlike banks, they are willing to work with a borrower who is credit challenged, needs the money quickly, or is looking at a one-off project. So, when you find a great deal on a fixer-upper, a rehab property, or one that you just want to quickly flip, a hard money lender is going to be your best resource for the loan that you need.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

What is the Difference between Hard Money and Traditional Loans?

You are ready to buy a piece of property. There is only one problem; you need someone to lend you money. Depending on what you are buying and your intentions with the property after the sale will decide what type of financing you need.

There are several significant differences between hard money loans and traditional bank loans. Hard money loans are short-term, usually between 6 months and 2 years. A conventional mortgage is typically amortized over 25 to 30 years. Hard money loans carry a significantly higher interest rate than do traditional loans. Hard money loans are backed by “hard” assets (property) used as collateral, while banks use your credit to secure your loan. So, which one do you use? Hard money loans are meant for investors and traditional mortgages are intended for owner-occupied residences.

In order to be approved for a hard money loan, lenders require that estimates are provided by the contractors that will be fulfilling the renovations. Lenders will approve only those expenses that are directly related to increasing the value of the property.

After approval on a hard money loan, funds are distributed in predetermined amounts which are called “draws.” A “draw” is an amount of money that will cover a portion of the renovations. Typically, this is set on a schedule. When a borrower applies for a bank mortgage, the underwriting departments look at income to feel confident the monthly payments will be met, and an appraiser checks to make sure the monthly payment won’t exceed the value of the property. It takes anywhere from 30 to 90 days for the underwriting committee to approve the loan and close on it.

Hard Money Loans Work Differently

Unlike a traditional bank, a hard money lenders focus is on the deal (the property, its value and potential to make a profit.) They want to be sure the borrower budgeted appropriately for the rehabilitation. They will send an appraiser to the property to determine the after-repair-value. They will do their homework to be certain this property will turn a profit so the borrower can repay the loan on time. Hard money loans are generally funded in 5 – 14 days. That’s a much faster close than a traditional loan.

Hard money loans terms vary depending on the geographic area and the lender. Interest rates are anywhere from 8%-18% and loan origination fees are anywhere from 1 to 4 points (or percent). Loan terms between different lenders are usually pretty competitive. However, lenders are more flexible with investors doing repeat business with them.

All loans have pros and cons. Some benefits and disadvantages of hard money loans are:

Pros: Loans close quickly, which is important in the real estate market. It’s easier to get financed for a loan that uses property value as collateral, and approval isn’t contingent upon the borrower’s creditworthiness.

Cons: Borrowers will pay higher interest rates and have higher additional loan origination fees. Because the lender is using the property as collateral, if the project isn’t finished the borrower will walk away empty-handed. And, be prepared for unforeseen expenses.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

5 Things You Need to Know about Arizona owner occupied Hard Money Loans

If you have poor credit or a blemish on your financial history, a traditional bank loan might not be an option for you. Don’t worry — Arizona owner occupied hard money loans might still be an option to get you in a home.

If you’ve been turned down for a loan by the bank, you might be interested in alternative funding options. Let’s look at some pros and cons so you can decide if it’s for you.

1. What are they? Hard money loans are loans that are secured with collateral. Rather than look intently at a borrower’s credit score and financial history, hard money lenders use the borrower’s property to cover the risk of lending the money. This makes them easier to qualify for and faster to get than traditional bank loans.

2. Can they be used to buy a family home? Most people think of hard money loans when they think of fix and flips or rental properties. However, these types of loans can also be used by people who intend to buy a home and live in it.

3. How do Arizona owner occupied hard money loan differ from regular hard money loans? In a hard money loan for a fix and flip or investment property, the borrower traditionally sells the property for a profit and repays the loan. If the borrower doesn’t intend to sell the house, the requirements may be a little different.

4. What are the rates? Because of the risk for the lender, the rates for these types of loans are typically a little higher. Most range between 6-12%.

5. What are the extra requirements? Since there’s not an investment property put up as collateral, borrowers may be asked to provide W2s, tax returns, pay stubs and proof of any debts.

Many Hard Money Lenders Don’t Do Arizona owner occupied Loans

Since the financial crisis and the Dodd Frank Act, which tightened lending regulations, many hard money lenders stopped doing these loans. The ones who still do them often ask for more documentation and may have stricter requirements for giving them out.

Finding an Arizona owner occupied Loan in Arizona

While we do less Arizona owner occupied hard money loans than before, we still have them available. Depending on the circumstances, we can accept co signers, do 100% financing and offer interest rates as low as 9.5%. If you’re interested in using alternative funding to get into your own home, give us a call today to see what we can do for you.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

What Good Is An Arizona Construction Loan?

If you are exploring your options on the real estate market, you may be wondering what an Arizona Construction Loan is and what the benefits are compared to other loan options, like fix and flip loans. Read more below to find out how an Arizona Construction Loan can make all your dreams come true!

An Arizona Construction Loan can save you tons of time when searching for homes on the real estate market.

When you are buying a home, you don’t want to settle. After all, you will be living in it—if you don’t enjoy it or it doesn’t meet all of your needs, you won’t be happy and you won’t be able to live out your preferred lifestyle fully. Investing in a construction loan allows you to take your wants into your hands and build your dream home from scratch.

Sometimes the perfect home exists, but it’s not in a good neighborhood or the distance is too far from work. Sometimes a home meets all of your needs but details, like a small yard, end up being deal breakers. If you choose to build a home on a vacant lot, you will be able to design something that meets all of your needs. Perhaps you want two in-home offices, or you want an in-home gym or untraditionally sized bedrooms—you can get all of this by designing the home yourself.

Tips on Choosing a Vacant Lot

Before just choosing any lot to build your dream home on, you will need to consider a few things. First of course there is location—do you want to be near school or entertainment districts? Do you want to live in a large social neighborhood or a quiet, isolated one? Additionally, you will have other locative aspects to consider, like if there are any curbs, sidewalks, power lines, and water lines nearby. All of these things are prime to consider when building and can be a deal maker or breaker in the building process.

Of course, before accepting the terms to an Arizona Construction Loan, you will need to consider more technical aspects of the property, like if there are any HOA requirements or limitations the city requires you to follow. All of these things are as important, if not more, as how many bedrooms you want in your home.

Why Private Money Lenders

If you are seeking out construction loans in Arizona, you may be considering options from both public and Private Money lenders. Public money lenders are traditional options. They include banks and credit unions and have generalized standards when it comes to qualifying for loans. Unfortunately, they will not be able to work one on one with you in the way that a Private Money lender would be able to.

Private Money lenders have flexibility and speed when it comes to loan requirements. Because they consist of private lenders and companies, they are much more likely to be able to work one on one with you—which is something you may want when doing something as specific, personal, and unique as building your dream home.

If you are seeking a Private Money lender, give the mortgage brokers at Level 4 Funding a call. We offer Arizona Construction loansand the ability to work individually with you. Give us a call today and see how we can help you!

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

Pros and Cons of Arizona Construction Loans

As with any financial tool, it is vital to know the pros and cons of Arizona Construction Loans before entering into a legally binding contract. This is the only smart way to choose the best loan for your project.

There are many different options when it comes to funding a construction project. You might explore using a home equity line of credit, a personal loan, or even an advance from credit cards. The other option is to secure a construction loan to cover the cost of the build. But before committing to the path of Arizona Construction Loans, it is critical to understand these Loans, their benefits, and their drawbacks. Only with all this information, can you make a well-informed choice about which loan will best meet your needs.

Arizona Construction Loans offer a massive benefit to borrowers during the construction phase because they are interest-only during that time. So, you have all that time to save before you are required to start paying down the principal on the loan. That reduced payment is beneficial if you are building your next home and need to cover your current living costs while still paying the construction note. But as soon as the construction is completed, be prepared for the monthly payments to increase substantially.

While you might not think of a traditional lender as flexible when it comes to loan terms that is not always true with a construction loan. In these cases, the lender is willing to work with you more on terms that will meet your needs because construction projects vary greatly. This could include a longer-term because of the region and weather of the build, or for a more intricate construction process. But this flexibility can be beneficial in finding the perfect loan to need the needs of your specific project.

The Downside of Arizona Construction Loans

Because a construction loan is funding a structure that does not exist yet, there is really nothing to be used as collateral. That fact drives lenders to impose more stringent criteria to those who are trying to qualify for the Loans. A credit score of 680 or more is a must, and the down payment is likely to exceed 20% of the loan value. And because of the increased risk associated with these Loans, you are looking at a higher interest rate. Rather than paying just prime, you might pay prime plus 2 – 3%.

More Risk but Also More Reward

Getting a loan for a construction project is certainly more challenging and expensive than securing a traditional mortgage. But when you are looking for a custom structure, you need to be willing to pay more for the perfect fit once the project is completed. The risk involved in a custom-built project is more significant than a traditional mortgage. More issues and costs could arise, which could result in a higher rate of borrowers who default on the loan. And the lender will face more challenges in finishing and selling the property if there is a default. But the big win for you is getting precisely what you want when the build is completed. So, do your homework, learn about the Loans, and select the one that works the best for you.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

The Pros and Cons of Using Hard Money

Chances are you are familiar with hard money loans from private lenders. In this article, we will look at some of the pros and cons of using hard money.

There are 3 main benefits of using hard money:

Fast Approval: Whether you are looking to invest in a fix and flip property, a piece of land or a need a construction loan, you want your funds available as fast as possible. Anyone that is remotely familiar with real estate knows the painstaking agony of waiting on a conventional mortgage. Because the borrower wants fast cash, bank loans and their piles of documentation along with all the red tape won’t be the way to go. With hard money loans, you can expect to be approved with a few short days and can receive financing within a week or two.

Collateral Options: Hard money lenders are investing in the value of the property instead of your creditworthiness.

Because of this, they will generally accept various types of collateral as long as it can secure the loan. Individuals with poor credit have a strong chance of a hard money loanapproval.

Flexibility: Unlike traditional lending institutions, hard money lenders don’t use a complicated underwriting system. They look at each deal individually and will work with borrowers to try and make the loan fit their needs.

Hard Money Loans Don’t Work for Every Situation

Before you consider using hard money, you need to see the entire picture. There are some cons of hard money, as well:

Short-term: Because these loans are typically used for renovating and flipping property, most hard money loans are strictly available as a short-term solution. Generally, these loans have terms from 6 months to 3 years. When loan terms are so short, a higher interest has to be mandated in order for the lender to make a profit. However, a pro (in this con) is hard money loans are interest-only until the last payment, which is a balloon payment. Hard money lenders also, rarely enforce an early payment penalty.

Higher Interest: Piggybacking upon the previous con, these interest rates can be incredibly high. They usually range from 8%-18%. However, if you are a seasoned real estate investor, with a proven track record, chances are lenders will be incredibly flexible with your terms and repayment plan. However, as a novice more-than-likely you will pay quite high interest rates.

In real estate investing, hard money loans are the main choice of investors.

Hard money is not typically meant for a residential property. It is meant for a situation in which the property will be turned around quickly and a profit is made. In simple terms, hard money should be used for investments. However, borrowers that don’t qualify for traditional lending have another financing option, while they work on their financial situation.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO

Top 5 Reasons to Get an Arizona Bridge Loan

Just like the structure they’re named after; Arizona Bridge Loans can get you from one place to another safely and securely. Here are some of the top reasons people use this type of loan.

Arizona Bridge Loans are short-term loans that get people and businesses from one asset to the next. They usually come with terms between 3 and twelve months and are helpful in a wide range of circumstances:

● Buying a new home before selling the old one. There are many reasons people might need to move to a new home, perhaps because of a job relocation, a growing family or sometimes a divorce. They may need to move before they can sell the old home, either because of some emergency or because the market just isn’t right to sell the previous residence. A bridging loan can provide the funds to purchase a new home while the old one is for sale.

● Turnaround financing. Businesses that are struggling often come up with plans to right the ship. Those plans cost money and struggling business oftentimes don’t have the liquidity to pay for restructuring. These types of loans can rescue a sinking ship.

● Funding while waiting on conventional financing. Because of complicated underwriting processes, banks often take a long time to approve and fund loans. Borrowers might need to act quickly to move on a great property deal and don’t have time to wait. Loans of this type can be a stopgap until traditional funding comes through.

● Cash flow stabilization. Slow seasons can be hard to weather for some companies. They need funding to stay afloat until the busy, lucrative season starts again. Loans like these can help a business survive the lean times.

The Benefits of Using an Arizona Bridge Loan from a Hard Money Lender

These loans might not be a solution for every situation, but they can be lifesavers for the right scenario (like those detailed above). Rescuing a business, staying afloat during a lull in sales and helping you move to a new home while you sell the old one — these are real life situations where a hard money loan can be a blessing.

Arizona Bridge Loans in Arizona

Level 4 Funding offers Arizona Bridge Loans for many of these common scenarios. You’ll find loans up to 90% loan to value, rates under 8 percent and terms as short as 3 months and as long as 24 months. Contact us now to find out how we can help.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis
Dennis Dahlberg Broker/RI/CEO