The Thriving Oakland Real Estate Market: Hard Money Loans to Finance Investment Opportunities
Oakland is a port city – strong and hard-working, a tough city on the east side of the Bay. The name Oakland conjures up many things: a history of activism, outlaw biker gangs, and most of all, hard-working people who depend on the port and heavy industry. Times are changing, though: Oakland is seeing an economic resurgence, driven by changes in new high-tech industries, sustainable buildings, and redevelopment. Oakland is a city that is growing, and while it’ll never shed its unique identity, it is joining the modern economy and becoming an important area for real estate investments.
The Changing Oakland Real Estate Market
There are two major geographical regions in Oakland: “the hills” and “the flatlands,” the latter being the area closer to the bay, encompassing downtown Oakland. While the Oakland Hills have always had the more affluent residents, it is the flatlands, and particularly the areas surrounding downtown, that are becoming important for real estate investors. Many distressed properties all over the city can be purchased, renovated, and sold at a profit.
Oakland is experiencing a number of transformational changes, especially in Downtown Oakland and the Central Business district. A transit-oriented hub and a proliferation of mixed-use development has turned it into a thriving area, with real estate prices beginning to move up, possibly in advance of a boom. Areas like Jack London Square, the Waterfront, and Uptown are all up-and-coming, making them perfect areas for a fix-and-flip or a fix-and-rent project. Much of this has to do with the people who are crossing the bay.
More and more people are fleeing the exorbitant rents of San Francisco and are moving to Oakland, where prices are currently much cheaper. Many of them are grouping around the new downtown, especially Golden Gate, sometimes known as North Oakland or Paradise Park. Some are moving to the hills as well. Some of the less-established areas like Millsmont or Adams Point near Lake Merritt have houses that can be bought for a lower price, renovated, and then sold to people who have made the move, or who have begun to thrive in Oakland’s new economy.
Join the Oakland Real Estate Market with a Hard Money Loan from Socotra Capital
Whether you are looking to renovate a house or apartment with the intention to sell, want to buy property at an auction, or are an experienced builder looking to start a ground-up construction project, equity-based hard money loans from Socotra are what you need to get moving. We understand the Oakland real estate market, and we know what it takes to thrive. Whether you are investing in mixed-use properties in downtown or catering to tech clientele in the hills, we get you fast approval so you can get to work. A new Oakland is calling, and Socotra wants to help you answer.
Socotra is California’s premier hard money lender for your real estate investment needs. Contact us today to get started on your quick approval!