All Forum Posts by: Jay Sheth

I have a single family home in Athens Alabama. It’s currently rented with property management company but I am looking for alternate property manager. Please share recommendations. Fyi I currently work with rental propertie company from Spartan invest.

thanks

0 Votes

Huntsville, Alabama

Hi Fellow investors,

We are exploring areas to invest in Nashville TN for appreciation. We are new out of state investors.

Which areas you have cash flow break even? Which areas you will expect hyper appreciation and which areas for cash flow positive?

Looking forward to your responses.

Jay

1 Vote

Nashville, Tennessee

Quote from @Arthur Neves:

@Jay Sheth I agree with you. I use Crestcore as PM in Memphis, and they do the same thing. I am not fully happy about it TBH. Besides they hold a big chunk of the money, which is in the contract, but still not pleased about it.

Wondering which PM company is it? cheers, and good luck

It is part of contract and seems like common practice in Memphis. So I’ll go along with it. Not a deal breaker for me

0 Votes

Memphis, Tennessee

Quote from @Uri Gofman:

Speak to Andrew Weiner at Realty Now Property Management in Beachwood. He manages over 100 units for us in the Cleveland market.

Thanks for inputs !

0 Votes

Cleveland, Ohio

hi,

Would like to hear for good property managers in Cleveland Ohio area. There are 2 properties (both single family homes). Thanks!

3 Votes

Cleveland, Ohio

Quote from @Nathan Gesner:

you have a responsibility to read your contract, understand it, and agree to it before signing.

an increasing number of property managers will hold funds until the first day of the following month. This enables them to account for all income and expenses for the calendar month before paying out the owner draw in publishing your statement.

I pay my owners around the 10th to 15th of each month, which is more common and what most owners expect. However, this creates accounting confusion because an owner will get a payment and then an additional expense or income action takes place later in the month so I have to issue an updated statement and explain it to the owner.

your property manager is using a better process. You should always have a reserve on hand to cover expenses, so it won't matter if you have to wait another 15 to 20 days to receive your income.

I am used to this as well. Frankly i dont see the confusion and never ended up asking such questions. Thanks for help!

0 Votes

Memphis, Tennessee

Quote from @Theresa Harris:

Mine deposits it the middle of the month into my account. What does your contract say?

I didnt find any wording regarding it in contract. Ill reach out to company for it.

0 Votes

Memphis, Tennessee

Hi

are there any laws/ standard around when the property management company should pay the landlord the rent collected.

my property manger gives me rent deposited a month after tenant has paid. Reason said is they do accounting at end of month. I have properties in other states but I haven’t seen so much delay. this seems they are keeping money for their own interest. Not sure if I can do anything about it. I haven’t seen any other issues with property mangement other than this issue.

0 Votes

Memphis, Tennessee

@Joe Villeneuve

Thanks. I am trying to understand whether one area is preferred over another. I don’t have any properties to compare. I wanted high level idea

0 Votes

I am looking for long term investment with hybrid (appreciation and cash flow). Appreciation is preferred if cash flow is less. Trying to decide between Tuscaloosa and Birmingham/ Bessemer area. Price range is below 200k. Looking for suggestions on which area might be better bet. Thanks

0 Votes

All Forum Posts by: Jay Sheth

Jay Sheth has started 13 posts and replied 52 times.

Post: Property management for Athens alabama

Post: Best areas to invest in Nashville TN for appreciation

Post: 1 month delay in get rental payment

Post: Recommendation for property managers

Post: Recommendation for property managers

Post: 1 month delay in get rental payment

Post: 1 month delay in get rental payment

Post: 1 month delay in get rental payment

Post: Tuscaloosa vs Birmingham

Post: Tuscaloosa vs Birmingham