San Clemente Hard Money Lender – financing your residential & commercial real estate investments
San Clemente is a year-round tourist destination known for its Spanish Colonial style architecture, scenic views of the Pacific Ocean and pleasant climate. San Clemente’s location on the California Coast, midway between Los Angeles and San Diego lends to its slogan “the Spanish Village by the Sea.”
According to Trulia.com, the median home value in San Clemente is $915,000. San Clemente home values have gone up 2% over the past year and rents have increased by 4% year-over-year. The average price of a home in the United States, on the other hand, is just over $200,000. The San Clemente 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. Rental prices in San Clemente 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 in San Clemente? Here’s why you should consider working with a San Clemente hard money lender for the purchase.
The cost of living in San Clemente 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
- The average family size in San Clemente is 2.76
- The average rental price in San Clemente for a 2 bedroom is $2,158 and $2,602 for a 3 bedroom.
- Studio apartments rose by 6% year-over-year (average rents of $1,204)
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 San Clemente hard money lender to finance their real estate purchase. Unlike traditional lenders, private money lenders focus more 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 San Clemente and across the nation. Read more about using private money lending to win real estate bidding wars in our blog article.
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 San Clemente 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.