Hard Money Loans in San Mateo County: Home of Facebook, Inc.
San Mateo County has a fascinating cultural scene. One of its cities, Menlo Park, was ranked in the top 15 US cities of CNN’s “Best Places for the Rich and Single” to live.[1. Ziegler, Tom. (2013-08-12) Best places for the rich and single – Menlo Park, CA (15) – Money Magazine. Money.cnn.com. Retrieved on 2013-08-21.] With San Mateo County’s geographic location, nestled between Silicon Valley and the San Francisco Bay, it’s not hard to see why. You can get your foot in the door on this white-hot market with a new residential real estate development tailored to suit the increasingly upscale market in San Mateo County, and a hard money loan from Socotra Capital can help you get started.
San Mateo County encompasses the San Francisco International Airport at the northern end, and just skirts the edge of Silicon Valley at the southern end. The county is a mix of suburban and more densely urban construction, and the area is also home to many corporate headquarters, including Facebook. The initial public offering of Facebook, based in Menlo Park, was what really kicked San Mateo into the economic stratosphere, but with its great location and strong infrastructure, this area seems poised to have staying power as a hotspot for creativity and economic development.
Understanding the San Mateo County Real Estate Market
A July 2013 Wall Street Journal article identified San Mateo County as the top wage-earning county in the country after the fourth quarter of 2012. The Bureau of Labor Statistics reported that the average weekly wage in the county was $3,240, which is 107% higher than the previous year. According to the article, “That’s the equivalent of $168,000 a year, and more than 50% higher than the next highest county, New York County (better known as Manhattan), which came in at $2,107 a week, or roughly $110,000 a year.”[2. Scott Thurm (2 July 2013). “How Facebook’s IPO Created the Best-Paid County In America”. The Wall Street Journal. Retrieved 4 July 2013.] Menlo Park is one of the most educated cities in the state of California and the United States, with nearly 70% of its residents having earned an advanced degree.
These figures indicate that San Mateo has had a meteoric economic rise, with the real estate market undoubtedly lagging behind the economic potential of the area. This is an exciting time for investors who are interested in working with older San Mateo County real estate, and upgrading it to suit the tastes of an increasingly upscale and affluent market. Socotra Capital can provide you with a hard money loan for the capital you need to get your development or residential rehab project off the ground.
Socotra Capital Provides Hard Money Loans for the San Mateo County Market
San Mateo County’s rapid development and ideal location adjacent to both San Francisco and Silicon Valley make it an unbeatable spot for residential rehab and development—don’t miss the chance to capitalize on the potential of this market as it continues to soar.
At Socotra Capital, we understand the San Mateo County real estate market and our hard money loans can get you the liquidity you need to make your development ready for the market. San Mateo County has proven its vibrancy as a real estate market, and with Socotra Capital, your new development can be a part of this exciting landscape.
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!