Marina Del Rey Hard Money Lender – financing your residential and commercial real estate investments
Marina Del Rey offers a view of Marina del Rey’s dominant feature, the Marina, the world’s largest man-made small craft harbor with eight basins having a capacity for 5,300 boats and is home port to approximately 6,500 boats. The harbor, the Los Angeles Times said in 1997, is “perhaps the county’s most valuable resource”.
According to Trulia, the median home price in Marina Del Rey increased by $207,750 (21%) over the last year. The average price of a home in the United States, on the other hand, is just over $200,000. The Marina Del Rey real estate market is considered a luxury market, and although it is not as high as the Bay Area market, it is still well above most of America. Home prices in Marina Del Rey 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 Marina Del Rey hard money lender
The cost of living in Marina Del Rey 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 an investment rental property a good business
- Apartments with 1-2 bedrooms are the easiest to rent
- The average family size in Marina Del Rey is 1.72
- The average rent in Marina Del Rey is $3,159
- The average rent for a 2 bedroom in Marina Del Rey is $3,589
- The average rent for a 3 bedroom in Marina Del Rey is $5,042
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 Marina Del Rey 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 Marina Del Rey 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 Marina Del Rey 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.