Assistant Brandy Mattix called David Crocker about his recent investment with Sherman & Associates. Below is a transcript of the call.
Brandy: When did you & Jay & Ken do business together?
David: Was looking for a 3 bedroom 2-bath house and my agents turned me on to his house and when I saw the improvements he made I saw that would be a much better solution for me. We closed escrow about 20th of September so I guess mid August is when we started communicating on it.
Brandy: Why did you invest in Fallbrook?
David: I live here – (that’s an easy one)
Brandy: Were you looking for a particular type of investment property when you consider bedrooms, bathrooms and the overall livable square footage?
David: We were looking for something rent-able and not in the high end. – was initially looking for a 3 bed 2 bath believing that would be the easiest property to rent out
Brandy: Did you have any knowledge about retrofitting homes with Green materials and using energy saving products?
David: Yes, I have a fair amount of knowledge my son in Pales Verdes just finished building a house that has solar power, solar heated pool, and a variety of other things he included in the house when he built it
Brandy: Did the property on La Palma Drive meet your criteria as far as square footage, bedrooms and bathrooms and lot size?
David: Square footage was low, bathroom was 1 short, lot size was correct, location was nice. It had 3 bedrooms so that was good
Brandy: Was this energy efficient green retrofit property a pleasant surprise to come across after looking for months at other properties?
David: Very much so. I hadn’t found anything else in Fallbrook that was even close to this
Brandy: What would you consider to be the home’s strengths or things you like about the property?
David: I looked at Jay’s video he made on the web and was very impressed with all the changes he was able to put into an older house that made such a great improvement into the property. The video was really a selling point. We weren’t allowed to look at property because a renter was there so that was the only chance we had to see it
Brandy: What impressed you about this home that ultimately led you to make the decision to purchase it?
David: Really, looking at that video. Jay had made so many improvements to the house that really made it a worthwhile investment
Brandy: Did the fact that the property being energy efficient (hence less utility bills) factor into your decision?
David: It had to have….I didn’t really think about that portion of it at the time but in retrospect it had to have.
Brandy: Did you realize that you could get more in rent for the property because the utility bills are less?
David: Um…no not really. I was expecting to get somebody who,…since the house was in such good condition I was expecting that the renter would want to take care of it and utility bills would be a plus.
Brandy: On a scale of excellent, good, fair, or poor, how would you rate the overall condition of this home as an investment property that has been retrofitted with green material and energy efficient products?
David: That’s an easy one. It is excellent. Jay didn’t cut any corners in doing this where he could have very easily, I’m sure
Brandy: Did any obstacles get in the way during your transaction? How did Jay / Ken handle that?
David: The major obstacle was probably the availability if Ken as he was moving offices and the time and Jay was not reachable as well.
Brandy: Thank you. Do you have any final comments or suggestions about purchasing the La Palma home that was retrofitted with green product and material?
David: I just hope that they get a chance to do more of these it seems to be building in the right direction and it shows an older home can be very worth while.