Commercial purchases, residential fix-and-flips, and new business developments are among the more popular uses for hard money loans in San Diego. Both practical for millennials and lucrative for investors, mixed-use developments are growing both in popularity, and demand.
Mixed-use development facilities, specifically those that serve as town centers or are positioned in the heart of major metropolitan areas, do conserve not only valuable land resources but also present new opportunities for building energy efficiency and sustainability – all while brightening up surrounding communities.
Benefits of Mixed-use Projects
The tech boom has brought about new ways to combine work and home life. Mixed use developments mesh well with today’s microbusiness boom as not only can you have a dedicated office space, but potentially cover building expenses through rentals on the opposite side.
Other benefits include:
- Decreased risk. Diversification offered by these developments lessens the risk portfolios are exposed to.
- Exposure. As many mixed-use developments are situated near burgeoning metro areas, the prospect of securing new clients makes this an attractive proposition.
- Transportation. Many San Diego workers commute by bike, foot or bus. Developments that cater to this crowd are more likely to succeed, which equates to an increased valuation.
These developments aren’t new, having been a fixture in many California cities since the .com bubble burst years ago. But they’re gaining traction in real estate due to their diversity.
How Lenders Help Secure Funding
Unlikestipulations placed by Dodd-Frank on bank-originated loans, hard money loans close much sooner than regular bank loans, and have much looser approval requirements. Lenders are more apt to concentrate on the ARV, or after repair value, of properties when originating these loans.As hard money lenders may request your development plan and repayment time frame, it’s best to be prepared when talking to hard money lenders. Once approved, funds are normally wired in days instead of weeks.
Hard Money Loans in San Diego Secure New Projects
Mixed-use developments normally take the form of a single integrated building but can extend into entire neighborhoods. Developers are flocking to this new investment instrument not only for its lucrative upside, but mixed-use real estate development, which includes a series of buildings, are welcoming to private developers and government agencies looking to collaborate.
Having access to hard money loans in San Diego not only increases the likelihood you’ll win your development project, but also aligns you with an ally for future consideration.
Have an upcoming mixed-use project requiring a quick infusion of cash? PB Financial Group can help bridge the gap between you and your goals. To consult with one of our experts please contact PB Financial Group at 877.700.3703 to schedule an appointment or for further information visit www.CalHardMoney.com.