The Modesto Real Estate Market: Hard Money Loans in the Central Valley
Explosive growth has made Modesto a spot of great opportunity for real estate investors, developers, and rehabbers. In 1970, the city of Modesto was, well, rather modest. With a population of around 60,000, this agricultural haven in the Central Valley was ready to grow, and grow it did, almost quadrupling in size over the next several decades. It still hasn’t lost its agricultural leanings, though, and its combination of size and labor force make it a good place for real estate investors interested in fix-and-flip projects and residential rehabs. A hard money loan from Socotra Capital can help your plans come to fruition.
Understanding the Modesto Real Estate Market
Modesto is part of the massive San Joaquin River system, so agriculture is still a huge industry there. “Water” is even one of the components of its motto – “Water, Wealth, Contentment, Health” – and while that may be tested, it is a vital part of the California economy. That means temporary labor on the one hand, and the more settled industry that grows up around farming on the other.
Because of this, the rental market has always been strong in Modesto. The fix-and-rent strategy is good for attracting people who want to stay for a year or so and then move on, but don’t want a home that feels too “temporary.” Additionally, Modesto was hit pretty hard by the recent economic downturn, which has resulted in a lot of distressed properties that are available for residential rehab projects as the city builds itself back up.
Some residential neighborhoods that are worth investing in include Riverbank up north, as well as the Wycliff area along Scenic Drive. Del Rio and Dutch Hollow, along with Regency Park and Sherwood Forest, are up-and-coming neighborhoods that attract people looking for farmer’s markets, running areas, and shopping sectors, and are perfect for investors looking to use a hard money loan to develop mixed-use property.
Hard Money Loans from Socotra Capital to Join the Modesto Real Estate Market
Are you looking to renovate a house or apartment to sell or rent? Do you want to buy property at an auction, or are you an experienced builder looking to start a ground-up construction project? For any of these, an equity-based hard money loan from Socotra Capital can help. We understand the Modesto real estate market and we can help you get ahead. Modesto has a mix of temporary and permanent residents, and whichever market you are working for, at Socotra Capital, we get you a fast approval so you can get to work. Modesto is getting over its growing pains and is ready to bloom. Socotra Capital will help you be a part of it.
Socotra Capital is California’s premier hard money lender for your real estate investment needs. Contact us today to get started on your quick approval!