Buying investment properties in San Diego right now is a bit tricky. Prices are pretty high and finding an opportunity that actually returns a reasonable ROI, especially with only 25% down. These particular investors had been hunting for the right opportunity for the previous year and a half and considering options in Las Vegas, Sacramento, and San Diego markets. I put together a team of professionals in each market and evaluated many options, and had lost a couple great options with the high demand for good cash flow properties and a buyer frenzy market. Finally with persistence, we identified the Ingraham St property, and moved on it quickly. First offer in, we ended up beating out 4 other offers 2 of which were all cash and offered more money. We closed the transactions within 2 weeks right before the holidays and now they have a 5%, fully performing asset consisting of 2 detached homes with garages, blocks from the beach in PB.
Represented Buyer, COE 12/16/16 for $910,000