The real estate industry makes up a significant portion of the United States economy, and many entrepreneurs are attracted to real estate because it has the potential to be very lucrative. However, not all real estate firms are able to successfully overcome the challenges of the industry. Setting up a real estate firm requires a large amount of monetary and non-monetary effort, including capital, time, and tireless dedication.
There are some major challenges that business owners must overcome in order to set up a real estate firm. Rajender and Jhansi Reddy founded Raj Properties in 1992 with just 32 rental units in Berkeley. Today, the firm has expanded to over 1000 rental units throughout Northern and Central California. Although both Jhansi and Rajender were from different professional backgrounds, they were able to work together and make Raj Properties one of the most successful real estate firms in California.
Laying the Foundation for Raj Properties
Jhansi Reddy was born in Telangana, India, and came to the United States with her mother in 1977. In 1982 she married Dr. Rajender Reddy, who was a physician from India. Subsequently, Jhansi worked a pharmacy technician from 1983 to 1984. In 1984, Jhansi entered the banking sector and spent four years working as a teller and associate at various banks, including Trenton Bank and Arizona Bank.
In 1988, Jhansi left her banking job in Arizona and began exploring the real estate sector with her husband. A few years later the couple founded Raj Properties and made their first real estate investment, a 32-unit apartment building in Berkeley.
Facing the Challenges of the Real Estate Sector
Rajender and Jhansi were dedicated parents to three young children when they started their company, and it was difficult to balance their family life, work life, and business. For this reason, they temporarily hired Reddy Realty to manage their property. During this time, Jhansi took care of the family and Rajender focused on his medical practice. In 1996, after 5 years, Jhansi and Rajender no longer required Reddy Realty’s services and resumed management of their own property.
Fighting the Controversies
The owner of Reddy Realty, Lakireddy Balireddy, was convicted of human trafficking in 2000. False rumors began to circulate that Jhansi and Rajender’s properties were still under the management of Lakireddy Balireddy’s company, and that Jhansi and Rajender were somehow involved in his activities. These grossly inaccurate and outlandish accusations were a setback for Raj Properties. However, Jhansi and Rajender defended their business against these vicious rumors and are still fighting them to this day. The business arrangement between Raj Properties and Reddy Realty ended in 1996, and Jhansi has worked tirelessly since then to make their business what it is today.
Planning Each and Every Day
Meticulous planning and strategy has enabled Raj Properties to become greatly successful. Creating daily to-do lists and high-efficency processes helped streamline operations across the firm. Jhansi Reddy took pride in maintaining a high level of quality in her business while also working hard to expand it.
Today, Raj Properties has expanded to over 1000 rental units throughout Northern and Central California. It has offices in Berkeley, Oakland, San Francisco, Fresno, and San Leandro, and about 100 employees.
The CEO of Raj Properties, Jhansi Reddy, has a background in accounting and finance. Dr. Rajender is a full-time cardiologist, and he runs his own private practice in Hanford, California. Despite being from different professional backgrounds, Jhansi and Rajender were able to build a thriving real estate business together.