For more than five years now, apartment rents have jumped by over twenty percent as developers seek to meet the rising demand for apartments. In fact, over 350,000 apartment projects will be emerging this year. The median age of the people renting these apartments is about 32, with millennials comprising just over fifty percent of renters. These millennials prefer apartments versus the traditional single family home and have a greater likelihood of remaining renters on a long term basis.
With so many renters seeking small to medium-sized buildings for rent, there is a strong demand for mid-range rental projects. As interest rates rise and housing inventory remains tight, rental development is an attractive prospect with plenty of opportunities that require moving quickly, and that’s where alternative real estate financing can make a significant difference. Whether it’s working with capital during the construction process or land development, closings are faster with an alternative lender and there is a multitude of flexible options including low documentation loans and bridge loans.
Are you considering investing in a multi-tenant rental property or a commercial project? Give us a call and we’ll be happy to discuss your quick lending options.
This update is provided to you by Park West Capital. We have over a decade of experience specializing in real estate financing and commercial lending opportunities. We have assisted numerous clients with growing their real estate portfolios and providing the funding resources. We firmly believe in accountability, excellence, integrity, entrepreneurship, and teamwork. Contact us at 888.808.9417 to learn more about how we can professionally assist you with your investing needs or fill out our hard money loan application and we’ll get in touch with you.