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Updated over 3 years ago on . Most recent reply
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PM Referral in Cleveland
I am looking for a new property manger in Cleveland after firing my backup PM.
Here is the story of what happened. We recently bought a SFR in a Cleveland Suburb. Last week the PM's office manager emailed me saying that in the attic bedroom part of the ceiling was tiles and, through no fault of the tenant, a large section had fallen down. They then sent me an estimate with pictures. Half the room was already sheetrock and fine so it looked like it was about 6 pieces of sheetrock on a mix of flat and sloped surface. Their quote for this work $3,000.
I fired them on the spot and moved the property to my second PM, now my 1st. The quote today $450.
This was a major PM in the Cleveland market, probably the biggest in the area and I can only say that I am disappointed. If you are in Cleveland you know who I am talking about. We expect to be buying more in Cleveland this year and want to make sure we have a second property manger so referrals are appreciated.
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- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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Welp! There you go Bob. I believe you have one person who has now publicly given you a suggestion as to who you should consider as a PM.
Full disclosure, after I fired the un-named PM I actually started having Remax/Haven manage part of my portfolio out there. No complaints.
Swanny has also chimed in and I have had a couple of conversations with him over the years and I highly recommend anyone considering investing in Buy and Hold in any market to listen to his podcast. Furthermore if you do invest in Cleveland you absolutely need to listen to his podcast, period. Extremely informative.