Success Stories
Here is a quick look at an experience a client recently had with Advent Property Management. Hopefully you'll find this helpful.
Advent rencetly helped a client locate new investment properties in San Diego. This particular client was looking to diversify his financial holdings and realized that real estate didn't have enough weight in his portfolio. After working with the client closely to understand his budget and income expectations, we set out to locate and acquire properties that would work for him. After setting up a customized property search, new properties that looked promising would be visited and evaluated. During these visits, each property is evaluated on the following criteria:
- Maintenance required to make the property ready for rent
- Upgrades to improve rental income
- Market rent analysis
- Home Owners Association analysis - Good or Bad
- Overall transaction forecasting/analysis
Through diligence and perseverance, we found several properties that looked promising. By using an aggressive offer strategy, we were able to pick up a few highly competed listings that fell within the client's budget. Keep in mind, this is sometimes a difficult accomplishment because of buyer competition for appealing investment properties. In some cases, the competition pushes the price up above your budget and makes the property less valuable return on investment. We were able to navigate this competitive environment and get the sale price our client needed.
Here are some of the numbers surrounding a specific property puchased during this case study so you can understand the cash flow potential.
- Property Profile: Bank owned 2 Bedroom 1 Bath Condo - City Heights
- Offer Price: $90,000 - All Cash Deal
- Monthly HOA Fee: $207
- HOA Grade: Good - Advent has units in complex already under management and experience with HOA
- Manitenance Required: $6000 (Capret, Paint, Appliances, Repairs)
- Management Fee: 8%
- Ongoing Repairs (Reserves): $100/month
- Monthly Income: $716
- ROI Score: 8.95% Return
By leveraging Advent Property Managements sales, management, and maintenance expertise, we're able to provide a complete turn key transaction for our clients. From purchasing the property to handing the new tenants keys, Advent handles it all. Let us show you how we can make investment property pain free and fun experience for you. Contact our office today for a free consultation