Laguna Beach Hard Money Lender – financing your residential and commercial real estate investments
The seaside resort city Laguna Beach is known for a mild year-round climate, scenic coves, environmental preservation, and an artist community. Tourism is the primary industry with an estimated three million people visiting the community annually.
It’s no secret that Laguna Beach real estate is in the luxury market. Properties along the 7 mile coastline have incredible views of the Pacific Ocean and include 27 beaches and coves. If you are looking to buy an investment property in Southern California, recent market trends forecast that now is a good time to buy in Laguna Beach.
According to Trulia, the median sales price in Laguna Beach has dropped by $142,000 (-8%) over the past year. Meanwhile, the median rents have risen by 9% over the same period and are currently at $6450 per month. That’s 4.7X the national average rent of $1,371. Purchasing up a home as an investment in Laguna Beach while the prices have dropped and the rents continue to rise might be a great idea.
Looking to buy an investment property to rent out? Here’s why you should consider working with a Laguna Beach hard money lender
The cost of living in Laguna 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 1-2 bedrooms are the easiest to rent
- The average household size in Laguna Beach is 2.14
- Y-o-Y change for a rental was 9% (median rent $6450)
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 Laguna 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. Making an all-cash-offer using a hard money loan is one way borrowers are winning bidding wars in today’s competitive market. Wilshire Quinn continues to fund hard money loans in Laguna 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 Capital is a Laguna 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.