All Forum Posts by: Engelo Rumora

Originally posted by @Scott Brock:

Good morning everyone,

I brought this topic up a while ago but I was wondering if anyone might have a couple good leads on property managers? I live out of state and have a SFH in Holland, OH just outside of Toledo, OH, and I'm getting ready to expand to my 2nd home soon. But I’m getting a bit frustrated with my current management company for a list of reasons. I prefer not to oust them here on this forum at this time since I know every experience can be different. I’m sure some people love them and some people feel less loved as I do.

So my question is does anyone have any good contacts for a reliable, professional, honest, property management company in the Toledo, OH / Holland, OH area?

Anything you can offer would be great and much appreciated! Feel free to comment here or contact me directly and I’d love to make new connections.

Sincerely,

Scott 

I think this could be a good opportunity for someone to set up a good PM company here in Toledo.

Sorry I don't know of any :(

Thanks and have a great day.

Quote from @Katie Smith:

Hi Caitlyn! Look at reviews! Have a phone call with them! Make sure they can offer what you're looking for and enjoy working with them. Never pay any upfront fees. Are you looking to get a fix and flip loan or a DSCR?

on said phone call make sure they speak good english. Also bad grammer is a dead give away of a fake lender.. go to Ingrid Robinson site she describe fake lenders and how to avoid them very well.

your playing with fire with facebook your going to get a lot of replys by Crooks who are going to tell you what you want to hear and tell you this too good to be true terms just send in 500.00 or 1k commitment fee your all approved .. you will never see the money again and you will never get a loan. 

As Don said above while state license and NMLS is required in about 15 states the rest its not so its wild wild west.. coming here will probably save you a bad experience.. BP lenders are somewhat vetted from what I have seen so maybe start with some of the lenders on this site that have made a lot of posts and are consistent in their message.. And remember NO UP FRONT FEES other than appraisal.. All funds go through title company or closing attorney.

I know the good PMs. Message me. 

I'm sure a lot of you have seen BP member Bob Stevens all over the forums telling people all about his 15% net cap Cleveland rental properties and the importance of his team.

If you do a little digging you see that there is this other guy named Bob Prisco. Bob Prisco looks, acts, and talks exactly like BP member Bob Stevens so I assume they are one in the same. Bob Stevens/Prisco sells turnkey properties and has websites advertising a complete turnkey experience where they handle all rehab and property management for out of state and out of country investors.

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So having said all of the above, I got really confused when Bob was giving some BP members the advice that they didn't need a property manager in Cleveland. All they needed was a "team" to handle everything for them?

Well who the hell is on this "team" if there isn't a property manager? 

What exactly does this "team" do if they don't manage your property?

Beyond the obvious questions of what this "team" does, I was very confused by Bob's comments as I was under the impression that Bob owned a Cleveland property management company called 5 Points Property Management.

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And if all of the above wasn't confusing enough, I went to see who is currently the owner of 5 Points since Bob says he has no involvement despite the conflicting info above, and I find out that 5 Points has had their license suspended.

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Now I am not making any outright accusations here, but the whole thing smells pretty fishy, and I think Bob Prisco / Stevens owes the BP community an explanation as to what's all going on here.

Quote from @Engelo Rumora:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

@Jay Hinrichs I am getting Deja Vu. Operator positions themselves as the owner of the Property Management company when they in fact, are not. Then when things go to hell they walk away and pretend they had no involvement with the Property Manager even though they facilitated countless transactions positioning themselves as the owner. The only difference I see is that Clayton Morris never used an alias lol.

My question is a very basic one ..  One needs to have a real estate license to bring buyers and sellers together for compensation.. I know a lot of the TK sales organizations glossed over this aspect years ago but everyone of them has a license these days.. Have you checked to see if Bob is licensed to be representing buyers in your market I doubt he is doing this as a charity.. Unless he personally buys each property and owns them then resells them .. then no licensed required of course.. This was the big issue I had with Clayton Morris making millions upon millions in fee's without being licensed..

 The Ohio Division has no records of anyone named Prisco being licensed. There is a licensee with status of revoked named Robert E Stevens though. No clue as to if it's the same person as Bob Prisco/Stevens that we've been discussing. I suspect it's probably not the same guy, but who knows.

well there you go .. unless he is buying these first and then resellling might not be licensed or legal to do what he is doing anyway. But again a lot of the OOS marketers used to do this without licenses as well.

 You need to be licensed to do property management in Ohio, so I'd really like to know how his "team" is handling property management for all of the countless investors he claims to be working with. Hence all of my questioning on the status of 5 points.

he said he did not own it and just referred folks to that company  just like many refer folks to you to manage.. And of course one can Own a PM company and have a designated broker in charge that is not an owner.. At least you can out here on the left coast. Not sure in your state but would assume its the same.   but using and Alias on BP  I dont think thats too cool just like i mentioned the sub to guys  its weird to me.

I was never licensed and never wanted a license.

I don't like being held to a "higher standard" lol

It's cool being able to tell Wise that he is a wanker and not get in trouble by the division of real estate for doing so haha.

Also, you can market and sell what you own without having a license.

PM is a different story and as you mentioned mate, an officer of the company has to be a broker in order to satisfy the division of real estate.

We are actually double d#$%ing and have two brokers as officers as the division didn't like that our broker was in Florida so now we had to get one in Toledo also.

If only I was a whistle blower, could make a nice buck as I know of at least 2,000 units illegally managed in town by folks without a license or broker.

🤷‍♂️

 thats why we worked together on deals.. 

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

@Jay Hinrichs I am getting Deja Vu. Operator positions themselves as the owner of the Property Management company when they in fact, are not. Then when things go to hell they walk away and pretend they had no involvement with the Property Manager even though they facilitated countless transactions positioning themselves as the owner. The only difference I see is that Clayton Morris never used an alias lol.

My question is a very basic one ..  One needs to have a real estate license to bring buyers and sellers together for compensation.. I know a lot of the TK sales organizations glossed over this aspect years ago but everyone of them has a license these days.. Have you checked to see if Bob is licensed to be representing buyers in your market I doubt he is doing this as a charity.. Unless he personally buys each property and owns them then resells them .. then no licensed required of course.. This was the big issue I had with Clayton Morris making millions upon millions in fee's without being licensed..

 The Ohio Division has no records of anyone named Prisco being licensed. There is a licensee with status of revoked named Robert E Stevens though. No clue as to if it's the same person as Bob Prisco/Stevens that we've been discussing. I suspect it's probably not the same guy, but who knows.

well there you go .. unless he is buying these first and then resellling might not be licensed or legal to do what he is doing anyway. But again a lot of the OOS marketers used to do this without licenses as well.

 You need to be licensed to do property management in Ohio, so I'd really like to know how his "team" is handling property management for all of the countless investors he claims to be working with. Hence all of my questioning on the status of 5 points.

he said he did not own it and just referred folks to that company  just like many refer folks to you to manage.. And of course one can Own a PM company and have a designated broker in charge that is not an owner.. At least you can out here on the left coast. Not sure in your state but would assume its the same.   but using and Alias on BP  I dont think thats too cool just like i mentioned the sub to guys  its weird to me.