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Updated over 5 years ago on . Most recent reply

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Property management to good to be true?

Timothy Ketelhut
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I am a new investor trying to start in the Grand Rapids, MI market. There is a property management company with over 20 years of experience and seems to be unlike anything I have found so far. David Greene talk about his core 4 in the BRRRR strategy and this property management company helps find deals, has a list of contractors that are 1099 that they use and recommend, charge 8-10% (10% to start then drops to 9% with 2-3 properties and some people with large amount of properties are only paying 6%) for property management and do EVERYTHING (market, collect rent, send handyman if a work order is created, evict, 12 month tenant guarantee), 60% new tenant fee, and 20% renewal, have an in house realtor that works with investors like myself. In short, they find deals, have contractors on call essentially, manage the property at a very reasonable rate, AND work with lenders that specialize in working with investors. Does this sound to good to be true? Am I crazy if I don't use all of their services?

I have asked about any fees associated with sending a contractor/handyman to do any work on the house when a tenant is in there and it is $49 an hour which seems reasonable to me. Grand Rapids also has some strict city codes that are difficult to navigate and this property management company has a lot of experience with passing inspection. They even do property analysis for the investor to give ARV, what the unit will rent for, etc.

Lastly, several of their employees are investors themselves and know the business. 

Anybody have any thoughts?  The name of the company is United Properties

What questions can I ask this company?

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