Del Mar Hard Money Lender – financing your residential and commercial real estate investments
The San Diego rental market is hot and projected to continue to rise through 2019. Most large metropolitan cities around the US are experiencing a similar trend, however Coastal San Diego cities like Del Mar are seeing exceptional growth in the rental market.
Del Mar nestled on the coast of the Pacific Ocean in San Diego county is known for its beautiful beaches, the Del Mar horse races and the San Diego County Fair. Del Mar is Spanish for “of the sea” or “by the sea,” which reflects its location on the coast of the Pacific Ocean.
Recent statistics show that investing in a Del Mar real estate project might be a safe bet. The economy has steadily bounced back in San Diego since the 2008 recession. Del Mar residents have a higher average income and the city has a lower crime rate than many nearby areas. 94.49% of the population in Del Mar have white collar jobs and a median household income in the area over $350,000 for a family of four.
- Average household size – 2.53
- Households with kids under 18 – 325
- Single family homes – 62%
- Multi-family units – 38%
- Renter-occupied housing 45.4%
While the area is definitely dominated by smaller families and single family homes, it’s clear there is a huge rental market here, with 45.4% of the population renting their home. Rents have steadily risen in San Diego and are projected to continue. As of January 2017, the average rent within San Diego itself was $2113 monthly. Average rents for a two bedroom apartment were a little higher at $2240. The coastal city of Del Mar has more luxury homes and considering most Del Mar residents need at least a 2 bedroom, the rents in Del Mar are on the higher end of the range.
Looking to buy an investment property to rent out? Consider working with a Del Mar Hard Money Lender
The cost of living in San Diego has continued to increase over the past 10 years making home ownership difficult for people. Many Americans desire the single-family home lifestyle but just cannot afford to buy into it. Also, Millenials are delaying getting married and have massive school debt, and are not buying real estate. The number of Americans renting is incredibly high, leaving a great investment opportunity in rental income properties.
Rental properties have recently created a stable vehicle for investing money and creating wealth. As many look to purchase an investment rental property, some look for a Del Mar hard money lender to finance their real estate purchase. Unlike traditional lenders, private money lending institutions focus more upon on the equity in a property relative to the borrower’s credit score. The underwriting and funding process can take place in a matter of days instead of weeks or months. Wilshire Quinn continues to fund hard money loans in Del Mar and across the nation.
Asset Based Lending
Asset based lending means we base our loan amounts on the value of real estate, such as an investment property, multifamily building, or commercial building, rather than strictly on your credit score and debt to income levels. Wilshire Quinn takes pride in our common sense equity based lending. Wilshire Quinn Capital is a Del Mar hard money lender, with experience lending nationwide. As an experienced hard money lender we can handle even the most complicated of lending scenarios and care more about the real estate that you are purchasing or refinancing than inflexible bank requirements.
