Property Management Blog

Another Success Story

System - Thursday, July 5, 2018
Property Management Blog

Josh and Pai were interested in buying an investment property in a good neighborhood. They wanted to find a stable area where the tenants will want to live in for a long time and be incentivized to take good care of the home. However, they found the current real estate market very difficult. To begin with, the high demand meant that there were fewer homes for sale wherever they looked. To make matters worse, even when they found a property they liked, there were usually multiple competing offers, and they were constantly being outbid by the other buyers. As a result, they were getting discouraged.

We worked with Josh and Pai for over six months to find them options within their target criteria. Ultimately, we landed on a beautiful duplex in San Jose. The property was in excellent condition, and on a very quiet tree-lined street. The rent was very close to the market. However, there were 3 other bidders pursuing this property.

To give us a competitive edge, we wrote a personal letter introducing our offer and the vision for the property. Although we were not the highest bid, the seller decided to accept our offer based on our strong financial and the presentation.

Josh and Pai were elated that they are finally able to achieve the goal of owning their investment home. They shared, “We thought we weren’t able to buy in this tough seller’s market. Thank you, Raymond for your professional work and all your help.”

Thank you, Josh and Pai. If you or someone you know is thinking about buying, selling or investing in real estate in Silicon Valley, please let us know how we can help you achieve their goal. (names are altered in respect to the owner’s privacy)

Success Story

System - Thursday, August 24, 2017
Property Management Blog

Six months ago, Joe and Ann bought their first apartment building with us. The growth of Silicon Valley had resulted in many new job opportunities and attracted new tenants from all over the US. The apartment building they purchased was in an excellent neighborhood, close to freeways and shopping. B However, the building was old and in a very dilapidated condition. For whatever reason, the seller never modernized the building and kept the rent below market in an effort to keep the building fully occupied. Joe and Ann were very excited about the prospect in investing in booming Silicon Valley real estate market but felt completely overwhelmed with the task of renovating an older property and re-tenant an empty apartment.

We spent six months renovating this property, bringing it up to the modern standard that safety regulations and new tenants expect. . We visited the job site daily and supervised every detail of the remodeling work, from a new roof, landscaping, stairways, interior and exterior work for the building itself to new kitchens, windows, and flooring in every apartment unit. To generate the maximum rent, we also installed separate washer and dryer in each apartment unit because we know that that the tenants in today’s market are expecting to have individual laundry available in their own apartment instead of going to a coin-operated laundry machine.

After the remodeling was completed, we put the apartment back on the market. Within the first ten days, we got eight offers, and we signed three leases right away. Yesterday, we rented the remaining unit to a very well-qualified young couple.

Through this process, we had raised rent 36% above the previous rental value. And based on the recent market evaluation, the property is worth 25% more than what we had bought it for six months ago.

Joe and Ann was very pleased with our effort and the result. They trusted us to do the right job.