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Updated almost 2 years ago on . Most recent reply

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Bar Shalom Laniado
  • Investor
6
Votes |
9
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Dealing with the management company

Bar Shalom Laniado
  • Investor
Posted

Hello everyone,

It's a pleasure to introduce myself to this community. My name is Bar and I'm a real estate investor. Firstly, I would like to express my gratitude for this great community that has given me confidence to invest in real estate in the USA.

I would like to consult with you about a situation I am currently facing. Two months ago, I purchased a Duplex in Milwaukee with the assistance of a professional and experienced individual. This person helped me to purchase the property and introduced me to his friend who runs a company that acts as a mediator between investors and property management companies (he takes a 3% fee from the rent and the actual property management company takes 7%).

The mediator's company carried out a "rent ready" renovation on one of the units for a total of $4000. However, a month later, I received an invoice from the management company (not the mediator) for another "rent ready" renovation on the same unit, which included repairing broken mirrors and holes in the doors. This has raised doubts in my mind about the quality of the renovation carried out by the mediator. If the mediator carried out a rent-ready renovation, how is it possible that they didn't fix the hole in the door?

I have been trying to get details about the first renovation from the mediator for over a month, but they have not provided me with any information. Furthermore, when I ask them for answers, they insist that I sign a contract that releases them from any liability.

In this situation, I would appreciate any help or advice on what to do next. Thank you all!

Most Popular Reply

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28,105
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41,123
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,123
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28,105
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Bar Shalom Laniado:

The lack of transparency and communication is a big red flag. A professional would send you the invoice along with a detailed list of work completed and picture or video evidence. Only a crook or an incompetent would hide information.

Find a professional company and fire these chumps.

  • Nathan Gesner
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