Encinitas
Hard Money Lender
A benefit to working with an Encinitas hard money lender like Wilshire Quinn is receiving funds fast! As a private money lender, we finance commercial and residential real estate loans up to $10M in about 5-7 days. Whether it is a purchase, refinance, cash out, or a multiple property loan; you can count on Encinitas hard money lender, Wilshire Quinn.
619.872.6000 | loans@wilshirequinn.com
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What is a Hard Money Loan?
A hard money loan is a short-term loan also known as a bridge loan, that is used until a person or company either secures permanent financing or removes the obligation through the sale of the property. Hard money loans generally have higher interest rates than conventional or bank loans, and are written for shorter periods of time. Typical hard money loans or bridge loans are 12 to 18 months in length. Wilshire Quinn loans do not exceed 60% of the appraised value of the property securing the loan.
Who Typically Uses a Hard Money Loan
- Business owners looking to pull cash out of existing properties
- People who want to close quickly
- Borrowers who have multiple properties looking to cross collateralize
- Investors looking to purchase rental properties
- Investors who buy, repair, and immediately resell their property (Flippers)
- Borrowers who cannot refinance with a traditional bank
- Builders and more…
Encinitas Hard Money Lender – financing your residential and commercial real estate investments
Encinitas is a beach city in the North County area of San Diego County, California. Located within Southern California, it is approximately 25 miles (40 km) north of San Diego offering a unique blend of old-world charm and sophistication, and new-world culture.
According to Trulia.com, the median home value in Encinitas is $1,000,000. Encinitas home values have gone up 11% ($100,000) over the past year with no sign of a decline. The average price of a home in the United States, on the other hand, is just over $200,000. Like most Southern California coastal communities, the Encinitas real estate market is considered a luxury market, and although it is not as garish as the San Francisco market it is still well above most of America. Home prices in Encinitas over the past few years have steadily risen making it worth consideration when looking at buying an investment property.
Looking to buy an Encinitas investment property to rent out? Here’s why you should consider working with an Encinitas hard money lender
The cost of living in Encinitas 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.
- The majority of Californians rent rather than owning, making purchasing a rental property a good business
- Apartments with 1-2 bedrooms are the easiest to rent
- The average family size in Encinitas is 2.47
- Y-o-Y change for a 2 bedroom was 9% (average rent $2,200), and 3 bedroom was 6% (average rent $3,050)
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 Encinitas 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 Encinitas 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 is a Encinitas 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.
Know Our Borrowers
Premier Encinitas Hard Money Lender, Lending Nationwide
Encinitas Hard Money Loans for Industrial Space
With e-commerce on the rise in Southern California, many are looking for industrial space to use as distribution centers. Imports from Asia are also growing making Encinitas a prime market for industrial space.
“When you think of industrial space, you have manufacturing space and distribution spaces, and when you think about all the distribution warehouses that are being used for e-commerce, it’s a real growth area,” Allen Matkins Operating Partner John Tipton said.
North County, the second most popular market in San Diego, is seeing a surge in new industrial development and leasing activity, with nearly 1M SF under construction since 2015. There are many advantages to working with an Encinitas hard money lender to purchase or refinance and industrial building. To find our more, contact us today!
F.A.Q’s – Hard Money Loans 101
A hard money loan is a real estate-backed loan where a borrower receives funds secured by equity in their property (or properties). Hard money lenders like Wilshire Quinn are mainly focused on the equity in the property as opposed to borrower credit and financials. Hard money loans are typically short-term ranging from six months up to two years.
Hard money lenders like Wilshire Quinn primarily focus on a property’s equity to secure the loan. The borrower’s credit is considered, but is not a primary determinant in the underwriting process.
After receiving a signed term sheet, Wilshire Quinn typically funds a loan in five to seven business days.
Wilshire Quinn will consider a wide variety of property types including: office, retail centers, industrial, hotels, parking lots/structures, condo inventory, multifamily properties, non-owner-occupied single-family homes, vacation homes and rentals, primer loans and bridge loans.
We will consider a wide variety of loan types including: purchase, refinance, cash-out refinance, partnership buyouts, rehabs, 1031 exchanges and value-added acquisitions.
You can either complete our online loan application, email or call us. We would prefer to talk through your loan scenario directly, as we can determine in a matter of minutes, once we have a few simple questions answered, if we have interest.
Our interest rates typically range from 9% to 12%, interest-only. Lender origination points typically range from 1% to 5% of the loan amount. The borrower pays for standard closing costs (title, escrow, legal).
Most of our portfolio is in California but we do have the ability to lend nationwide. We strongly prefer to lend in major-metropolitan areas.
Your Trusted Encinitas Hard Money Lender
Ready to Finance a Real Estate Investment?
At Wilshire Quinn we control the lending process and can provide fast answers and quick closings for your hard money lending needs. We are a direct lender which means we can fund hard money loans fast. We lend private hard money loans in Encinitas up to $10M with funding available in about 5-7 days.
Streamlined Process & Approval within 24 hours
Funding typically in 5-7 days
We are a Direct Lender; not a broker
Foreign nationals – OK
Refinance, purchase, blanket, refinance, rehab loans
Commercial, residential, multifamily, most property types considered
Special use buildings: car wash, gym, parking garage, assisted living facilities, mobile home park.
Call us now at 619.872.6000 and speak directly to a decision maker. Get a pre-approval from an Encinitas hard money lender within 24 hours and funding in about 5-7 days.
Wilshire Quinn Capital, Inc.
2550 Fifth Avenue, Suite 1070
San Diego, CA 92103
E: loans@wilshirequinn.com
P: (619) 872-6000
F: (619) 872-6010
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Partner with a direct lender you can trust.
Customer Service
At Wilshire Quinn you’ll get the friendly guidance you need to help you through the private money loan process. We’ll make sure the loan terms work for you and for your project or we won’t fund the loan. Submit a loan scenario today to quickly hear back from one of our representatives.
