Here at Elevate Real Estate, we bring results through integrity and innovation, however also like to provide results quickly. Whether you are an experienced investor or a novice, rest assure that our team will be here to deliver the results that you are looking for. Edi Santos has worked with hundreds of medium to high income earners who have invested in real estate as a way to grow their financial portfolio. As a seasoned banker and commercial loan officer who was personally involved in the financing of single and multiple units, Edi saw first hand how individuals grew their networth and cash flow through investment properties. Having a real estate agent who is versed in the financial analysis of cash flow is of great benefit as one sets out to either purchase their first investment property or seeking to expand their real estate port folio.
Our ABC Process:
1.The Meeting: Meeting for the first time allows us to get to know you as a client. It is very important that we understand who you are and to learn what your Vision, goals, and objectives are. We also want to know what your values are as a person. It is also important that you feel comfortable and open when working with us. We typically like to meet our clients at one of two offices in El Segundo, however, we are also very open to come directly to you at your home or office. Aside from building rapport and getting to know each other’s personalities, we must also get to business. Be prepared to share with us the following information so that we can better assist you.
1.Amount Available For Down Payment: Knowing the amount available for a down payment will provide us
3.Type of property (Single, Multiple, Mix Use)
4.Level of involvement in the income property (Self Managed or Sourced)
3.The Search: Once we know how much you are looking to invest towards your investment property, the ball is in our court. We will work in finding properties that fit the the parameters discussed. We will not waste your time looking at properties that are outside of the discussed parameters. We will identify specific properties that we believe are a good fit for you and we will email you pictures, available videos, specs etc. directly to you email. We will also call you directly when we have found hidden gems. Going to personally visit these properties, walking through them, reviewing the specs will allow us to calibrate the market price of what you are looking for. Visiting properties will also allow us to have conviction when we find the right property for you. As we look at these investment properties, keep these key points in mind.
2. Condition of the property
3. Existing Rent Rolls
4. The Offer: Once we have found the right property, it comes down to getting ready to make a strong offer that will put us ahead of possible competing offers. This requires a combination of number crunching and psychology. Understanding what the impact of a monthly payment is per $5,000 or $10,000 plays a critical role here. If there are multiple offers, it is important that we understand what the comps are in the area and decide how bad we really want a specific property. Being able to establish good rapport with the selling agent or owner is also of extreme importance. Agents want to work with people who they feel are confident about and respect. Having an MBA, having the background in banking plus being a veteran typically resonates well with other agents who are looking to work with other agents that are competent in their field. We will carefully draft an offer letter that will highlight all the good qualities of you as the buyer. Typically, we attach the following information to the offer:
1. Well written offer letter
2. Pre-approval from the bank or lending institution
3. Proof of funds
4. Fico Score
5. Pay Check Stubs (if necessary
Once an offer is accepted, the rest is relatively simple, yet important. Escrow will open, inspection and appraisal will need to be order etc. Our biggest priority is to make sure that we are looking out for your as the buyer, assuring that any potential risks are reviewed, acknowledge and mitigate as quickly as possible. Whether you are an experience investor or a first time investor, rest assure that we will carefully review all documentation from Escrow, Title and the listing agent to assure that all the t’s are crossed and I’s are dotted and address any areas of concern.
As daunting as it may seem, purchasing your first investment property is relatively not any more difficult than when you purchased your first home. Our job is to help you along the way through the process so that you can make the reality of your investment property come to fruition not in abstract far away time, but as quickly as possible. We truly believe that our 1,2,3 process will bring results sooner versus later. There is no greater joy for us than to see our client’s dreams come to fruition and to provide results through integrity and innovation.