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.