All Forum Posts by: Brandon Sturgill

@Heesun Lee hire a lawyer...seriously. Drop a $1,500 retainer and get started resolving this.

Best of luck

Good info @Carla Kordab thanks for posting

@Tom Fidrych its hard to improve on the post by @Nathan Gesner

We have never had this work well...if this is your operating style there is nothing wrong with doing repairs yourself...you may be better off with flat fee management services...a focus on admin and bookkeeping tasks...or maybe a platform like Stessa...I'm sure there are 100 PM apps out there that just do the back-office type stuff.

If you do reach an agreement with a manager on this, just make sure all the bases are covered with proper documentation

Best of luck

@Suzanne Chan...we manage in Ohio with a decent chuck of our management portfolio being project based/ HCV (160 units)...it's a specialty field, so good call to seek out some guidance for the best property management company. 

Best of luck going forward

@Stephanie Wilson you're talking about electronic access control and video monitoring...these are specialty items and if done correctly, will be expensive....especially of there is a need to add electrical circuits or run cabling for cameras. There will also be an added cost to monitor the system...and time to review footage....maybe software licensing...and possible legal implications or lawyer fees for drafting consent documents to amend leases...

I'm not saying its the wrong thing to do, but what is the reason you would want to control the laundry? bad tenants or bad neighborhood?...hisotry of break ins? tenant fights? Maybe there is an alternative.

 Your generalities are convenient I'm sure, but inaccurate mostly. This is brutal industry and although I wish all property management companies operated with high integrity and full transparency, many do not. On the flip side, top-tier PMC's that have longevity do not fit into this category of billing just to bill....it's a good discussion,...If PMC's are operating without regard to their owner clients, it's an issue that should be dealt with through regulation...but how long could they possibly last in the industry?...and how did they get to where they are in life and business?

@Grant Sylvester the only reason wholesalers are wholesaling is they never learn to structure a deal...they'll pay $5,000 for a class to learn to wholesale and never learn to structure a purchase money mortgage or work with other peoples money to secure deals for themselves...seems like a vicious cycle to me...

Wholesaling is not investing...period...it has a marginal place at the bottom of the continuum...you can be the best trash man in the city, but you're still a trash man...nothing personal against trash men, of course. 

@Grant Sylvester good points, but I don't think having a license has much to do with it...our regulatory agencies are so busy dealing with 8,000 dipshit agents getting in trouble they can't even pursue the unlicensed activity, lol.

Wholesaling really can't exist if you have a real estate license...its just a simple contradiction...we have to disclose highest and best use up front and self-dealing here is simply a licensure violation...

There is a time and place for wholesale deals, but to make an entire industry out of it is insane...the only way this has happened is because people really don't care...and there is nobody else willing to farm trash properties in the worst neighborhoods in town other than wholesalers....even the ocean needs bottom feeders to keep the balance...

@Will Barnard I can't say that BP hasn't helped my career and REI education enormously, but there have been plenty of missteps...when Josh and Brandon were picking up momentum, the content provided was rushed in front of people with some obvious deficiencies...and podcast guests were not closely vetted...you have guys like Michael Quarles openly bragging as a licensed real estate broker negotiating sellers out of their equity and building wealth by performing open listings...beat people down on price and stick the property on MLS before the ink dries on the contract...and all the while new investors standing by with their jaws hung open in amazement at what an investment career he has made...there are plenty more examples....

BP does bear culpability for facilitating discussions on the forums where individuals are implicitly brokering deals without a license or in clear intentional violation of their state laws. I'm not saying all wholesaling/wholesalers are bad, but there is a point where enormous repositories of conversations about illegal activity become fuel for folks that develop an intolerance for the practice...it's starting to happen in every state in the country and will grow as disruptive technology continues to erode and marginalize the traditional real estate agent...wholesalers are a prime target to be run out of local markets.

@Kevin Reinell ask your Attorney General and see what they say...maybe start with the fraudulent claims and consumer protection divisions...

I've always found it interesting that folks here brag openly about deceiving the public...and even more interesting forums like BP support this behavior and facilitate these conversations....or go as far as showcasing these guys on a podcast...anyway

We're working on a study that compares the difference in the transfer price of properties illegally brokered by wholesalers and the true market "as-is" value...to me it looks like a national class action lawsuit and punitive damages, robing unsuspecting consumers of their equity...but I'm no expert in the matter...