April 22, 2011 Dear Leona and Michael, It is just over a year ago that I bought with your help the property in Fairfax, VA, which you have been subsequently managing on my behalf. Having had the opportunity to see you in action in both roles as realtor and property manager, I would like to express my utmost appreciation of your excellent performance. When I first approached you in my search for an investment property, you made an effort to understand what I was looking for and to earn my trust. It was clear from the very beginning that you were very knowledgeable about the market and had superior work ethics. You did thorough research on the listings and screened out the relevant ones for me. Your analysis of the pros and cons of the various locations was impeccable. After having accompanied me to view some of the listings, you quickly understood my preferences. Thereafter, so that I did not have to make frequent visits from Pennsylvania to Virginia, you personally visited the listings which seemed to have potential and only then advised me on whether I should view them or not. I was so struck by your choices that, on more than one occasion when a quick decision had to be taken and I could not visit Virginia personally to view the property, I had no hesitation in putting in an offer for the property based on your recommendation. I know that I was demanding in wanting a cash flow of the properties that I was interested in and their comparators, but you provided them promptly without any complaints. Not once did you pressure me to make a decision, if I was hesitant in any respect. In the end, the final transaction went very smoothly. When I reflect on the three houses that I have bought in my life time so far (in Maryland, Pennsylvania, and Virginia), the experience that I had in purchasing the Virginia property with your help was clearly the most hasslefree, Both of you deserve full credit for this. You continued with the excellent work in managing the property. I was impressed that you found a tenant within one week and negotiated a rent that reflected market conditions. You arranged things in such a way that I did not have to worry about receiving the rent on time. When anything needed attention in the house--repair or replacement of appliances--you took prompt action and kept me informed. All in all, I think both of you are superb realtors and property managers. I know that I can count on you to manage my property in the years to come. Sincerely, Biswajit Banerjee Visiting Professor of Economics Haverford College, Haverford, PA |