San Jose Hard Money Lender – financing your commercial & residential real estate investments
San Jose is an economic, cultural, and political center of Silicon Valley and the largest city in Northern California. With an estimated 2017 population of 1,035,317, it is the third most populous city in California (after Los Angeles and San Diego) and the tenth most populous in United States. San Jose is the largest city in Santa Clara County, which was recently named as the fastest growing county in California, with much of its growth attributed to young tech workers who are attracted to the region.
According to Trulia, the median home value in San Jose is $1,100,000. San Jose home values have gone up 29.4% over the past year and show no signs of slowing down. The average price of a home in the United States, in comparison, is just over $200,000. Home prices in San Jose 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 San Jose hard money lender
The cost of living in San Jose 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 Santa Barbara is 3.13
- Y-o-Y change for a 2 bedroom was 3% (average rent $2,878), and 3 bedroom was 2% (average rent $3,407)
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 Jose 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 San Jose 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 San Jose hard money lender, with experience lending nationwide. As an experienced San Jose 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.
