Orange County Hard Money Lender – financing your residential and commercial real estate investments
Orange County is the third-most populous county in California, the sixth-most populous in the United States, and more populous than twenty-one U.S. states. It is the second most densely populated county in the state, second only to Los Angeles County. It is the headquarters of many Fortune 500 companies including Ingram Micro, First American Corporation, Broadcom in Irvine, Western Digital, and Pacific Life. With a large populous and strong business community Wilshire Quinn continues to look for robust lending opportunities in Orange County in cities like Aliso Viejo, Anaheim, Brea, Buena Park, Costa Mesa, Cypress, Dana Point, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, La Habra, La Palma, Laguna Beach and more.
According to Zillow, the median home value in Orange County is $716,118. Orange County home values have gone up 6.4% over the past year and Zillow predicts they will rise 3.5% within the next year. The average price of a home in the United States, on the other hand, is just over $200,000. The Orange County 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 Orange County 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 an Orange County hard money lender
The cost of living in Orange County 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 Orange County is 3.02
- Orange County has the seventh-highest asking rent among 82 large U.S. metro areas. (commercial data provider Reis Inc)
- Highest rents in Newport Beach ($2,309) and Irvine ($2,094), the lowest in Buena Park ($1,452).
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 Orange County 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 Orange County 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 Santa Barbara 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.