All Forum Posts by: Andrew Evans

My property manager was dishonest and defrauded me in some ways and was negligent in other ways.  i found out the GREC doesnt get compensation for you they just punish the property manager.   Is there any government body who helps you claim against the manager?  Thanks in advance.

Im wondering if anyone has any contacts for borrowing money at a reasonable rate against property in the USA for use in repairs etc?

I have 5 unencumbered properties at around $500k value and dont need much more than say $50,000 but im open to more if a lender is keen. I could buy some more property. 

I bank with Bank of America currently.

cheers andrew

 I already mentioned the zillow estimate to them.

i will not say too much until they commit on repairs to the water damaged house.

cheers andrew

 Thank you for your reply Theresa.

The rental agent has made an offer to repair the property but has suggested to sell the properties and for them to make $6,000 per property plus the selling agent 3% commission.  So effectively im paying for the repairs anyway which he estimates at $8,000 but they also understated the sale price on one property by $10,000 according to zillow estimate.  i am focusing on this insurance policy they have that covers all his clients for no reason apparently. If its a scam and i think it is then the OIC might like to hear about it or it will expose the scam and he may pay me "go away" money. Im thinking i must be able to contact the owners in the areas they were selling and let them know they are not covered at all. I may even suggest a self insuring scheme which i think he has likely done anyway and see if it scares him into a better deal.   cheers andrew

My management company continues to pass the buck. They claim that the insurance company has rejected the claim and they dont cover water damage.  

I asked for copies of the claim they lodged and he has claimed they dont lodge it in writing...  The email reply is below. Does this sound plausible to anyone here with experience in this field?

cheers andrew

"We do make a claim – just not lodge it in a “ signed form format” which was your question.

Southern States Insurance Brokers is the broker.

Great Lakes – through Lloyds of London is the actual insurer. We have a combined owner commercial package with them.

Dan Merkel is our direct Broker with Southern States. His details are as follows and I have cc’d him on this email.

Dan Merkel, CIC

Dan Merkel 

Southern States Insurance

Councilman City of Alpharetta"

 no I don't. they scammed me

I was wondering if there is anyone in the area who could have a look at it and verify the things im beng told. Im in Australia and the works just keep adding up and up and up.  

Any building inspectors?

regards andrew

Australia hasnt had a property downturn of any significant in 30 years. With interest rates heading lower etc it seems unlikely and the politicians have no stomach for it either.  House building blocks that were $20,000 30 yrs ago are now $350,000 

i am wondering whether your politicians will create this golden period in the USA as well. Like him or hate him Trump is good for business.

A shout out to all the amazing people here offering to help. I want to thank you for the support. I apologize for not responding to everyone.  Its obviously a busy and stressful time. 

An update. One of the kind people on here visited the home and put my mind at ease regarding the level of damage and the progress in the property so far.  They also recommended contacting the BBB better business bureau in georgia and lodging a complaint. This will hopefully give them a kick and an opportunity to resolve it without making them look bad. 

I would be keen for recommendations of a better Property management company and or a broker to sell the property for me once remediated. 

I am wondering what people think of the prospects for real estate value increase is over the next few years? Crystal ball anyone?

cheers and merry christmas 

andrew

Hi patrick thank you for your reply. I notice you are in Pennsylvania. I imagine that creates a problem for you working in Georgia. Do you believe i should have an adjuster working for me? feel free to PM me.

cheers andrew