Poway Hard Money Lender – financing your residential and commercial real estate investments
Poway which lies north of the city of San Diego and south of the city of Escondido, has deep roots in the agriculture industry. It’s rural location lends to its slogan “The City in the Country”.
According to Trulia.com, the median home value in Poway is $710,250. Poway home values have gone up 3% over the past year, an increase of $17,750. The average price of a home in the United States, on the other hand, is just over $200,000. The Poway real estate market is considered a luxury market, and although it is not as high as the San Francisco market, it is still well above most of America. Home prices in Poway over the past few years have consistently risen making it worth consideration when looking into buying an investment property.
Are you considering purchasing an investment property to rent out? Here’s why you should consider working with a Poway hard money lender.
The cost of living in Poway 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 family size in Poway,CA is 2.94
- Y-o-Y change for a 2 bedroom is 6% (average rent $1,803), and 3 bedroom is 11% (average rent $2,315)
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 Poway 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 finance private money loans (hard money loans) in Poway and across the county of San Diego.
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 Poway 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.
