All Forum Posts by: Clint Bolton

I buy anywhere from 10-20 per year. Some buy and hold but mostly fix and flip. I'm primarily in Desoto county and Memphis (and all suburbs) but also purchase in Panola, Tate and Marshall counties. 

That's unfortunate that you experienced that type of management. It sounds like they should not be in the business if they can't provide better service and transparency. We recently sold our property management division that I had started years ago within our brokerage to provide property management services to investors who we represented in a purchase. We always communicated within 24 hours of receiving a call or email from an owner and quickly provided any information requested. The property management company that we sold to isn't quite as fast with communications but they do a good job. Communication is key in that business and you need to be sure the new company that you choose to go with is good with and agreeds with your expectations on communication. If your property management agreement states that the management company will do certain things within certain time frames and then they do not follow through on those things, it is grounds for cancelling the agreement and depending on what it is, possible grounds for a formal complaint with the licensing authority. When you transfer, yes, the current property management company is bound by the management agreement until th final day of the agreement (or the last day it's active which would be the 30th day after the 30 day notice is given). Also, the security deposits or any funds being held on your behalf or the tenant's behalf should be passed along to the new management company to be held in their escrow account or dispersed to you if it's money that should have already been paid out to you. Feel free to ask any more questions and I'll do my best to help. I'm a broker and previous property manager as well as a real estate investor who currently self managed some of my properties and I have several with a management company. (FYI I'm not an attorney so none of this should be taken as legal advice 🙂)

I concur with pretty much everything that's been posted on this thread. We have 40+ units and everyone paid on time except for 3. Two of those caught up quickly and one we are evicting (the one that's being evicted is one of those that had been trouble for a few months already). Otherwise it's been normal for most managers and owners in my area.

Hey Jonathan! You need to contact my buddy Jon Ritten. He owns a RE/MAX office there on the coast and can put you with one of his agents that's best suited for real estate investments there depending on exactly what type of investing you're wanting to do. I gave him a heads up that you may be calling. I'll send you his info. 

I can help with the North MS area but we do not invest in the Jackson area.

@Frank Jones As a broker/owner in the Greater Memphis TN area I can tell you what's typical in my market. Most brokers do not provide leads unless they come with a hefty referral fee attached. We at RE/MAX do give referral free leads but that's not what we focus on providing. As a broker, my goal is to provide hands on training, coaching, mentoring for all agents whether new to the business or seasoned agents. All agents are trained to be entrepreneurs and business owners, not just sales agents. Therefore we teach them how to grow their own business and leads and coach them on how to convert those leads. If an agent in my office isn't growing their business substantially year over year then they should probably consider another career. We provide all the tools for a Realtor to be successful but we can't make them do it. If they are driven to succeed and build a business then we are able to give them the tools and training to build a sustainable real estate business. Most brokers in our market do not do this. They offer a cheap place to hang their license but do lot provide real value. I'm a broker that's involved in the day to day business of my agents because I want to see them succeed which in turn helps our brokerage succeed. Used to it was a big deal to provide leads but most successful agents today aren't looking for that... they're looking for someone to coach them and help them grow a sustainable business and if you're depending on leads from your broker that's not a sustainable business model.

We are currently using Buildium for our property management for our properties along with rentals that we manage for other investors in our market. We are considering a change that's easier to handle online payments, mobile repair requests and management, etc. and I've looked into RentRedi a little. I'd like to hear from someone that has experience with both or at least currently uses RentRedi. My main question/concern is whether it works well for management of other owners' properties or is it more of a system to manage your own properties? Does it provide a tenant side and a landlord side for accounting purposes so that you can easily keep up with expenses/income for the landlords that has no affect on what the tenant pays or owes. Hopefully my question makes sense. I need something that manages the landlord/owner stats well and does monthly reporting well for each property. Thanks in advance for any insight!

@Drew Eldridge did you guys ever get anything worked out on this one? I'm still interested if it's closer to being ready to close.

Thanks for connecting Brent! Glad you're here and I look forward to networking more with you. We're located in Hernando so let's grab a cup of coffee and meet up sometime. 

Hi Cornelius,

You should probably start first by contacting the State Health Dept. and see what they say will be required. They have to sign off on all waste water system installs. And this one may be more expensive since it only has 1/4 acre of property. I my area they usually require at least 1-1.5 acre lot for private sewer systems. They'll have to allow something since the house was existing before those requirements but it may cost you more than the norm, which in our area ranges from $3000-$5000 depending on the type of system. Hope this helps some!