All Forum Posts by: Kevin Feng

I am still searching for a solid and well run property management company in Memphis, TN.  The one I am current using is terrible. The PM is slacking and poorly addressing tenant issues.  They let one of my property get destroyed to point of unrecoverable. Now I am in the process of selling the property due to high cost of getting it fixed. I am pissed at the company and in search for a decent management company at this point.  Anyone know of PM company that is decent and give a crap for the property owner?  

Due to rent non-payment are becoming more an issue today.

1. Can you let me know about your eviction process?  Fee charge?

2. How do you manage rent raise?

3. Getting new tenant process? How quickly in general?

4. What type of system do you use? 

5. I desired to have rent by the 10th of each month.  Is this in your lease?

6.  Your fee and how is late fee handled?

3934 Gary Ave, Lorain, OH

Steven,

Thanks for getting back to me. Sorry, it's been 9 month late.  It's been a lot of changes with life and work.  Finally, past three months, got a new tenant on one duplex and fixed up the other.  I am working with a PM now but seems a bit on the relax side.  So far, it's been a negative for me on the duplexes and I should be on the positive cash flow.  

I know you manage 1000 units and plus by now.  Are you still taking on more landlords?  Can you tell me more about your company or services?  Thanks. 

I wonder if anyone has experience with tenant bankruptcy issue.  I have a tenant at TN who is behind on rent for the past 3 months.  My PM has send multiple notices and finally put in the eviction notices.  PM even offer to apply for tenant Covid assistant for any financial needs.  I say PM did everything they can to help with this situation but recently found out tenant filed a bankruptcy. Now, I think that's just shady and screwed up.  I am willing to figure out with tenant on options but this complicated the support for tenant.  Anyone has any experience with this type of issue?

My PM think I am stuck for another 60-90 days.  Since tenant filed bankruptcy, it reset the clock and tenant will continue to stay without paying rent for another 3 months and I am stuck with the mortgage. PM said tenant will need to appear at bankruptcy court in order to continue to stay.  It's a tactic tenant is using to buy time.  Is there really no way around this?  Thanks all.

You guys are AMAZING!!!  Thanks for all the reply.  

I am looking for a PM to manage a Duplex in Lorain OH.  Can anyone recommend a company with solid record?  Thanks.

I started with states of preference first then work my way into if state is Landlord friendly.  After that, rental market.  There are many ways to slice this questions as some of the great response here. Good luck.  

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $87,000
Cash invested: $20,000

Closing in progress...

I had one conversation with Brandon in the past, really nice guy and knowledgeable. I would definitely agreed with Brandon that no one size fits all as we all have different strategy in our roadmap to wealth building.  With that said, I absolutely believe education oneself is REALLY important. As Brandon mentioned, there is a wealth of info out on the internet.  Spend some time on it.