SAN JOSE, Calif. - While Jerry Garrity of Silicon Valley's First Statewide Realty works with a long list of properties for seasoned Bay Area investors who use his San Jose property management services, he also has a growing portfolio of another abundant asset type: properties whose owners had trouble selling them.
He says this growing phenomenon is a result of the real estate market not cooperating with the original plans of many homeowners. His advice, rather than accept an undesirable price, is to think differently.
"I've found that many people who have had trouble selling their home for their preferred price can turn a negative into a positive and actually use their circumstance to nudge themselves into real estate investing."
"Often, investing in real estate is something they've been wanting to do for years, and just didn't know how to go about it. We show them how."
Garrity says that he's been able to teach these new clients what his more seasoned investors already know – that there is wisdom in owning real estate in any market.
"Home prices go up and down, and our property management firm has weathered five recessions in the last 20 years. What new investors need to know is that price fluctuation is less important than cash flow."
He says that most homeowners only read the headlines and end up buying when prices are going up and selling when prices are going down. Smart investors, on the other hand, buy when prices are going down, not to flip the homes, but to produce a steady stream of cash flow.
"When I'm able to find a way to make the numbers work for new clients, it's exciting to see the light bulbs go off. It's certainly a rewarding part of what I do, because I've been able to help frustrated sellers become very knowledgeable real estate investors."
About First Statewide Realty
Jerry Garrity's First Statewide Realty is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His professional property management San Jose company specializes in managing single family homes, condominiums, townhouses and other investment property in the greater San Jose metropolitan area. His Cupertino property management firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
Jerry Garrity
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
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