Imperial Beach Hard Money Lender – financing your residential and commercial real estate investments
Imperial Beach is the most southwesterly beach city in the United States. Minutes from the International Mexican border and just south of Coronado Beach, Imperial Beach is a hidden gem in San Diego County. Imperial Beach has a small town feel with many mom-and-pop stores and shops for tourists to visit.
With the recent addition of a luxury hotel on the beach, new commercial shopping centers, luxury condo developments, and the Navy Seal training facility, Imperial Beach is experiencing noticeable growth. According to Trulia, Imperial Beach market trends indicate an increase of $47,500 (9%) in median home sales over the past year.
According to Zillow, the median home value in Imperial Beach is $562,000. The average price of a home in Coronado is $1,550,000 only 10 miles north of Imperial Beach. Although the prices have risen over the last year, Imperial Beach is still considered one of the last affordable beaches on the west coast. Many investors are looking to Imperial Beach for fix-and-flip opportunities while others are purchasing beach properties as vacation rentals.
Looking to buy an investment property to rent out? Here’s why you should consider working with an Imperial Beach hard money lender
The cost of living in Imperial Beach 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 2-3 bedrooms are the easiest to rent
- The average family size in Imperial Beach is 2.83
- Y-o-Y change for a 3 bedroom in Imperial Beach is 5% (average rent $2,205)
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 Imperial Beach 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 Imperial Beach 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 an Imperial Beach 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.