Long Beach Hard Money Lender – financing your residential and commercial real estate investments
Long Beach is the 36th most populous city in the US and the second largest city in the Los Angeles metropolitan area. The port of Long Beach is among the worlds largest shipping ports.
According to Trulia, the median home value in Long Beach is $525,000. Long Beach home values have gone up 8% over the past year. The average price of a home in the United States, on the other hand, is just over $200,000. Long Beach real estate is considered a luxury market, and although it is not as expensive as the Bay Area market, it is still well above most of America. Home prices in Long Beach over the past few years have consistently risen making it worth consideration when looking at buying an investment property.
Looking to buy an investment property to rent out? Here’s why you should consider working with a Long Beach hard money lender
The cost of living in Long 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
- Homes with 2-3 bedrooms are the easiest to rent
- The average family size in Long Beach is 2.78
- The median rent per month in Long Beach is $2,695
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 Long 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 Long 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 a Long 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.