Investing in real estate can be a complex process, but if done correctly, it can be a lucrative way of making money. California is one of the most popular markets in the country with Orange County being one of the biggest areas in which you can invest. In fact, this area is the second most densely populated area in the state. One of the biggest draws to the area is the various tourist attractions, as well as the fabulous beaches. This means it will be easy to sell properties in the area as individuals are looking for places to live and places to rent out to visitors. Hard money lenders in California will help you and provide local hard money for your next new construction project, commercial property acquisition, fix and flip, rehab or buy and hold. Give us a call today at 858-947-3779 to submit your request for your next hard money loan.
The Orange County Area and Demographics
Although Orange County is the smallest county in the state, it boasts one of the largest populations, making it a good place to buy and sell properties. As of the 2010 census, Orange County was reported to have a population of more than three million people. About 44 percent of the population consisted of whites, while 34 percent were of Hispanic origin and 18 percent were Asian. Smaller percentages of the population included Native Americans, Pacific Islanders and African Americans. Individuals will find a vast array of places to live, many of them well known throughout the country, including Irvine, Garden Grove, Newport Beach, Santa Ana, Huntington Beach, Fullerton Orange, San Clementine and Costa Mesa. Any of these cities will make a great place to invest in. Santa Ana and Garden Grover are among the most common places for buying homes, flipping them and selling them for a profit. Five cities within Orange County ranked among the highest share of flip deals versus overall sales in the country.
A Steady Population
Unlike other areas of California, the Orange County population has remained relatively stable. However, this doesn’t mean there is no room to buy and sell properties for a profit. There is some level of growth, though it has been significantly smaller than some of the larger cities throughout the state. Between 2010 and 2016, the population of Orange County grew by about 100,000 people. Sometimes having a more stable population can prove to be a more lucrative place to invest when it comes to real estate. Orange County has some of the most expensive and exclusive neighborhoods found anywhere in the country, which has drawn attention, particularly through popular reality TV series that have been located in the area.
Average Income and Employment
The median income for families in this area of the state is approximately $74,000 per year with a low percentage of individuals living below the poverty line. This area of the state attracts a large number of people because of the vast array of employment opportunities. There is a large number of Fortune 500 companies that have made Orange County the home to their headquarters. These include a number of technology based companies, such as Western Digital that makes computer hardware, Gateway computers and Blizzard Entertainment, a leading game developer. You will also find a variety of health industry companies, restaurants, vehicle manufacturers and more. Individuals can find just about any job they want when they make the move to Orange County.
Points of Interest
Orange County isn’t just a place to live and work; it’s also a place to relax and have fun. Those who live in the area enjoy a number of beautiful, pristine beaches that can be used throughout the year. Although Orange County attracts a significant group of tourists each year, they aren’t the only ones who enjoy spending time at the various attractions in the area. You will find something for everyone, whether you enjoy a trip to Disneyland in Anaheim, Knotts Berry Farm in Buena Park or another form of entertainment. There is also a water park and the Anaheim Convention Center that hosts concerts and other events throughout the year.
It isn’t just amusement parks and other forms of entertainment that draw residents to Orange County. There are a number of historical sites located in this county. Residents in the area can take in a popular sparrow migration location, a variety of historical churches and many natural sites that will give you plenty to do throughout the year.
NMLS ID: 181106 | Licensed by the California Department of Business Oversight. Loans made or arranged pursuant to Finance Lenders Law License CA 60DBO 46052.
Barrett Financial Group, L.L.C.
2168 E. Williams Field Road, Suite 245
Gilbert, AZ 85295