Scripps Ranch Hard Money Lender – financing your commercial & residential real estate investments
Scripps Ranch is an affluent community in Northeastern San Diego with beautiful landscaping, scenic parks and hiking trails.
According to Zillow, the median sales price in Scripps Ranch is $800,000. That’s an 8.6% increase from last year. They also forecast that the median home price will increase another 3.1% in the next year. The average price of a home in the United States, in comparison, is just over $200,000. Home prices in Scripps Ranch 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 Scripps Ranch? Here’s why you should consider working with a Scripps Ranch hard money lender
The cost of living in Scripps Ranch has continued to increase 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 Scripps Ranch is 2.89
- The average rent for a 2 bedroom is $2,450 and a 3 bedroom averages $2,900
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 Scripps Ranch 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 Scripps Ranch 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 California hard money lender, with experience lending nationwide. As an experienced Scripps Ranch 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.