All Forum Posts by: Heather W.

By managing my properties on my own now,  I'm learning what to expect from a property manger in the future.  I actually started with a property manager and realized I didn't know enough about the business to know how bad they were.   In a few years I'll be much better equipped to oversee the PM. 

@Pete Kirby 

This doesn't sound promising to me unless the numbers support a much lower rent.  If the condo is suited for families but it's 3 weeks before school starts with two vacant units then there doesn't see to be any demand at that price. I'd skip it unless it unless you have a great return at a much lower rent and, even then, I'd be worried there was something wrong with the area you don't know about yet. 

What do you call Kevin Bacon without an Achilles Tendon?

Footloose!

Welcome to BP, Pete, and sorry I got distracted by the autocorrect error.  How long have the three been vacant?  How many units in the complex? If yours rents for $50 less per month than the others will you still cash flow?  Has school started yet in your area?

I'm generally wary of condos because of the HOAs. 

@Rhonda Jones 

Since I'm a new investor tell me what you've learned about reserving.  How has this experience changed your perspective on how much cash you keep on hand or your strategy for dealing with emergencies?  

Define "best."  Best cash flow?  Best quality tenants?  Best mix of the two?  It all just depends.

@Rhonda Jones 

In February you needed a loan to pay for an emergency repair and by July you've already purchased another property. That's quite a comeback!  

The title of your post should have been "Problems with Management Company."

I don't have positive suggestions for you either, but thanks for sharing your experience so we can learn.  How long have you been using them?  When you started using them were they called Maysonet?  What made you select this company when you did your initial interviews?

"Pedro Maysonet, Manager of Maysonet Enterprises, LLC, is also the President of Maysonet Group, LLC which has a pattern of complaints that allege non-payment and service issues. Maysonet Enterprises, LLC is affiliated with Bravo Maintenance Group, LLC, Rapid Product Marketing, and Chrestate Real Esate Group LLC. All companies are located at the same address."

http://www.bbb.org/west-florida/business-reviews/m...

https://www.linkedin.com/profile/view?id=68812224&...

It looks like the owner is also a minister, for what that is worth.

Welcome! I have fond memories of Springfield. You've found a good group here on BP.

@Bryce Y.

This article says Detroit has a very high arson rate and not enough resources to investigate them.