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)