The Inland Empire: Hard Money Loans Help You Define the Landscape
The Inland Empire is a growing area in Southern California with a lot of promise for real estate developers, investors, and rehabbers. It may lack set borders, but the Inland Empire encompasses the sprawling area full of communities, factories, and other urban development on what used to be the farms that fed Los Angeles. It is usually associated with the San Bernardino-Riverside-Ontario metropolitan area, which makes it the third most populated area in California. And while there might not be an “official” Inland Empire, the people living there are real and their numbers are growing, which makes it a great place for real estate investors looking to plant a flag. A hard money loan from Socotra Capital can help you start your own empire in a growing region.
Understanding the Inland Empire Real Estate Market
The main thing to understand about the Inland Empire is that while it has been historically known as a bedroom community for people who work in LA, the weight of suburbia is now such that many bedroom communities are turning into thriving cities on their own, with their own economies. This is currently happening in many of the larger and mid-sized cities in Inland Empire.
An area this large and diverse doesn’t have one real estate market, but it can be broken down into several subsections based on size:
The Major Cities:
Cities with populations over 100,000 include San Bernadino, Rancho Cucamonga, Victorville, Ontario, Fontana, Corona, Moreno Valley, and Riverside. These large cities are home to a lot of industries and several colleges and universities, which makes them a good mix of single-family homes and temporary housing for young people. Rehabbing a property to rent is a solid investment strategy, as is fixing up a home to flip.
There are many cities with populations between 50,000 and 100,000: Cathedral City, Eastvale, Hemet, Indio, Menifee, Murrieta, Yucaipa, Redlands, Rialto, Colton, Chino, Chino Hills, and Apple Valley. These cities tend to be working class and single family, although they also have a lot of transplanted residents from Los Angeles who are looking for solid refurbishments.
These include (but aren’t limited to) Lake Quinta, Elsinore, Palm Springs, San Jacinto, Paris, Loma Linda, Montclair, and Beaumont. There are also tiny towns like Big Bear Lake and Calimesa, both of which have a population under 10,000. The interesting thing about these areas is that there is a lot of room for growth and, given the expansion out of LA, they could be a great place to invest for the future.
Hard Money Loans from Socotra Capital Can Help You in the Inland Empire Market
The Inland Empire is huge and it’s always changing and growing. Understanding its real estate market takes true expertise. We have that expertise and know what it takes for you to succeed. Whether you’re looking for a property to fix-and-flip or want to rehab a property to rent, Socotra Capital can get you a rapid approval on a hard money loan so you can get to work. The Inland Empire may not be official, but it is huge and full of opportunity. Socotra Capital’s hard money loans 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!