All Forum Posts by: Jefferson Smith

Nah Casey, this was in Indy. (My Vegas play at this point is strictly commercial.)

Update: Not really. He actually replied to a text thread with me and the new property manager, and Michael Thompson gave a date certain when he would provide keys and security deposits. But then he didn't do it...and hasn't replied since. And he still hasn't answered the phone nor returned any phone call. 

Oh dear, I'm sorry.

@Sam S. did you ever recover keys and / or security deposits? Anything you did that seemed smart/helpful?

(Tagging my partner, @Jason Skelton

Theresa, Thanks so much. Perhaps a different caller ID could indeed help! We have identified a property manager who is trying to help get this untangled. (Ross does seem knowledgeable!)

Kenny, I think I'll reserve a formal complaint for if there isn't a satisfactory conclusion. Thank you for the nudge.

Update: Thanks folks. After ~4 weeks of radio silence, (which followed the ~8 weeks prior to that), his head poked up...and then went down again. I am grateful for the Bigger Pockets community -- after the discussion here (maybe a coincidence of timing, but maybe not), we did get an email from his address. So at least hopefully he's alive and well.  

That said, Michael has still not called us, and he has still not handed over security deposits or the keys. 

Ross, your comments were apt and helpful; agreed that the security deposits will be the toughest thing if he continues to hold them. Anna, yes, all the properties are in Indiana. And Mike, good advice for the future.

Appreciate y'all.

Joe, thanks for the post. Fingers crossed.

We found Michael Thompson of Evermark through Bigger Pockets. My partner talked to him extensively and liked him. We both met the guy. Michael did a reasonable job for some months, although he didn't have a good communication habits. In June, he went radio silent, not even completing accounting. Finally, he sent an email in July explaining he and his wife were moving to Southern Indiana, and that he would facilitate a transition to a new property manager.

But he has just ghosted. 

Has not replied to countless phone calls, text messages, and emails in nearly four weeks. We have identified a new property manager, but having no contact with him makes it hard to have a clean handoff (keys, security deposits, etc.) 

Anyone gone through a disappearing/nonresponsive/vanishing property manager before? (Anyone know Michael Thompson?) Any helpful tips? 

(Of course "get a reliable PM!" is the best advice, and we've had good luck in other micro-markets. And that good luck has meant we haven't had to deal with this before.) 

My Dad is retired. I don’t think solo 401k fits based his lack of self employment income. 

So far, kind plugs for: 
@Brian Eastman
@Carl Fischer
@Dmitriy Fomichenko

Plaudits for the valuable feedback...keep it coming! So many of the smart folks (I'm listening to like 5 REI podcasts regularly #addict) persuasively recommend an SDIRA over just relying on the Stocks & Bonds Industrial Complex. But evaluation of the firms seems almost blind.

But there precious little information compares SDIRA firms. Mutual funds or other financial advisors of course offer previous returns info. That is inapplicable to an SDIRA firm, so we're left with customer satisfaction.  Feedback here feels useful to fill the market information gap a bit.

Much gratitude for the previous comments, and for any further.

Any other positive or negative experiences with SDIRA firms? 

Done. Thanks.