All Forum Posts by: Edward Brewington

Ha, ha. LMAO

Sorry Teo.....I've been a little busy. You're talking about the property management that Columbus Turnkey works with, ERA, right? I have them and they have done well in managing my property, but as of late there have been fees to pay utilities like a $15 per transaction, so I had to pay the bill myself. No problem, but the other PMs I have don't do that, so I was a little disappointed about that. However, they have been on top of everything and quickly resolved any issues I've had. The only problem I see is that they may have too much on their plate and contacting them immediately, although they have a website to communicate through, can be difficult at times. I only have 2 properties with them compared to bigger clients who might have a lot more units. I do think they do good work, but you do need to be on top of your asset and make sure they are managing your property well.......it's the difference of having an asset or it being a liability. Do your due diligence, research on PMs fees and check with other clients on what they think too. Good luck! 

Nothing new as of now. The properties are cash flowing, but one had some serious pipes and drainage problems that I had to deal with. I think turnkey is great if you want something hands-off, but buying old properties (1960 and before) means you will be inheriting unseen problems that are hidden after they remodel the property. For one, I would NOT pay the price they advertise because it's too expensive. I would talk them down. Second, you really need to do your due diligence and get independent comps from another realtor, have your own inspector go out there and make sure the home is up to city code (you call them yourself). Likewise, I think the market is overpriced for turnkey home now and I expect a downturn soon because the "real" economy, the average worker working 2-3 jobs with tons of expenses and debt, is NOT the stock market. The real estate market will be hit hard again.  I see a great opportunity coming soon once this market crashes. I'd prepare for that if I was you.  I have my reserves ready to pounce once that happens.....I bought a Las Vegas home in 2010 and got more than 50% off from the 2006 price. It's going to happen again.....you can count on it!

Yes.....it's a fixed rate for the escrow. They told me the escrow went up because my property taxes and insurance went up too. I understand that. My question is....Why did my monthly payment go up from last year, although I prepaid the total projection of the escrow for 2019? Shouldn't it go back to what I was paying before? Am I missing something. This monthly payment consists of the principal, interest and escrow.  What are they doing with the extra $30 to $45 on each account? 

I corresponded with a group in Meza, Arizona as well as Sacramento, California in the beginning. They did have problems closing one property on time, although I had all my paper work and funds ready and done. Likewise, I had a problem after getting the loans, I could not get access to the website because I live abroad. I have a VPN now, but I'm still having trouble logging on and coordinating a time to call and speak to someone (it is midnight my time in East Asia). I don't have other problems with my other investments, but the 4 properties I have with this company has been challenging. I'm going to call again to make sure everything is straight as well as my problem logging onto their website. My question is......should my monthly premium go up, although I prepaid the escrow and insurance? Does that make sense? I'm going to make a request that the remainder of the fixed monthly payment amounts are first applied to the monthly interest payment, and secondly applied to reduce my loans principal amounts. Thoughts? 

I have called them 3 different times and each person did not straighten out each loan until I talked to a supervisor. I prepaid the escrow for 2019 and wrote clearly "Escrow ONLY" and still it was not applied until I talked to a supervisor. I'm not sure if it's incompetence or willful ignorance. 

Has anyone worked with Security National Mortgage before? My escrow went up, so I prepaid the estimated taxes and insurance, but my overall monthly premium went up although I have a fix rate. They sent me a escrow analysis, but it wasn't very clear compared to a previous loan I had with Wells Fargo. My question is......Do you think this is a legit mortgage company? Are they taking advantage of their customers with small fees of each customer? Their changing numbers each month is strange to me. Thoughts? 

Columbus Turnkey Houses paid for the paint job! I informed them that I was not satisfied and had other investments with no problems.  They, without my knowledge, went ahead and paid for the paint job when I was expecting to pay it myself.  They have won my respect and I am fully grateful for taking responsibility for their fully remodeled home. I will do business with them in the future, but I will definitely be more cautious than before! Lesson learned!

To update my situation, I talked to RJ, who runs Columbus Turnkey Houses, and they paid for the paint job for the whole home that had a violation. I must say....I was extremely pissed at first, but RJ listened to my complaints and followed through on a home they remodeled.  I am thoroughly grateful and completely respect this company once again. I've learned a great lesson.....I need to have more than one objective inspection, talk to more agents and customers of the particular company I am going to do business with, and I need to clearly see what the city requirements are for rental properties before I go forward with my next investment. Lesson learned! 

I have bought two properties through Columbus Turnkey Houses at the end of 2017.  In two months, one home had an eviction where the tenant completely destroyed the home and I had to pay $1,600 to fix all the damages. The other property, I just found out that the city gave a warning, a violation where the paint was cracking on the exterior.  Their work was poor and after the winter season, the paint already started to crack.  I will have to pay another $1,200 to paint the whole house.  I am an out of state investor and I am not pleased with what I was told.....a fully remodeled home where I would collect passive income.  Being new to this, I have learned a great lesson, but I would not take their word on anything, esp their own inspection and them getting tenants.  Be careful!