How I Went From Client To Partner

Canoga Park, CA 913037305 Variel Ave.

Property Type: Multifamily

Details

  • Year Built: 1958
  • Square Footage: 6,942
  • Lot Size: 8,552
  • Units: 10
  • No. Stories: 2
  • Transaction Type: Sold
  • Zoning: LAR3
  • APN/Parcel ID: 2112-021-007

Challenge

As a proud new member of the Lucrum Real Estate Group, it’s serendipitous how our paths crossed. A few years ago I owned an apartment building in Canoga Park, which I acquired as part of a 1031 Exchange and was in need of an exit strategy. I was eager to expand my H.O.A. management firm, and wanted to sell my property to do it. At first, I feared that its market value was insufficient for the kind of expansion I desired. Although, I was worried that I would not be able to obtain my target price, I decided to attempt to sell the property anyway.

Solution

After interviewing with other commercial real estate agents, when I met Ray and his team it was obvious I landed in very capable hands. The first thing I noticed was how resourceful and solution based the group is. Like many other landlords, I was facing issues with low paying tenants, vacancies, and excessive utility bills. I was expertly guided down a path that reduced overhead, increased cash flow and maximized the value of my property far beyond what I expected.

Result

Sophisticated marketing and an amazing network of buyers quickly translated into multiple offers more rapidly than I imagined. From the moment escrow opened, the team’s professionalism shined through, and what seemed like a daunting task ended up being a seamless process. The buyer was thorough, and a slew of contractors checked the building from head to toe. Ray’s team carefully examined every report, and provided the timely and expert advice that was necessary.

Contingencies were promptly removed, and from day one until the last day of escrow, the timeline was adhered to. I needed a quick sale, and Ray’s team designed a well thought out plan with a successful result.  A smooth escrow with a quick closing over market value, in record time – I was absolutely THRILLED with the level of service provided.

Years later, after I sold my company and decided to put my license to work, Ray was my first call.

Based upon how the entire transaction was handled from start to finish, I knew that working with Ray and his team would be a perfect fit. Now, as an investment broker on Ray’s team, I help clients with the same impeccable service that was provided to me many years ago. My experience has taught me that every seller has a different goal, and our job is to be solution based and adapt to the needs of our clients, which is exactly what they did for me.

By: JP Vines
December 4, 2020

Gain valuable insight

You need to be informed about changes in legislation, economic developments and current events to protect your interests and assets.

SUBSCRIBE NOW