All Forum Posts by: James H.

Good morning, I know this post is two years old, but would you still recommend Goldberg? I am thinking hard about switching PMs for my DC condo. Thanks!

Hi, Ms. Cole and Mr. Koch, thanks for your replies, and I appreciate the info.  I think I will start seriously looking in November.  If either of you have any current or previous clients that rent out their home or condo during the tourist season, especially in the Sandbridge area, I'd love to talk with them about their experiences.  Thanks, and have a good weekend.

Hey, thanks.  I will definitely get a property manager, and may take you up on your offer of some recommendations. I assume your rental is more long term and not rented to vacationers?

Good morning,

I'm considering moving to Virginia Beach, VA and wondering about the beach house rental community. I searched the forums but could not find any discussions by those of you who own beach properties and rent them to tourists in that area. My thoughts are to live in the house most of the time, then rent out during the summer months (I work mostly overseas throughout the year). How do the numbers look thee days? House vs. condo? Insurance issues? Property management? Thanks for any replies.

Good morning, BPers in the Fayetteveille, NC area.

As some of you in that market may know, the owner of New South Rentals, Susanne Gee has moved overseas and apparently (allegedly) has stolen / lost / misplaced about 60,000 dollars in tenant deposits and rent.  The North Carolina Real Estate Commission is aware and investigating the case.

For me, I guess I'm lucky that I only had one property and the worst will be having to come up with my tenant's security deposit (about 500 bucks).  Others may be in way worse shape, especially if they had multiple properties with Ms. Gee. 

Anyone else in this market affected by this issue?  Are you planning any legal recourse?

J

Yo, BPers,

I started an S Corp here in Virginia about six months ago.  I am the sole employee but am having trouble figuring out my tax obligations.  I am actually a Tennessee resident, spend most of my time overseas, and all of the S Corp's income comes from contracting work done in the Middle East.  Therefore, I think I do not need to pay Virginia income or unemployment taxes, since I do not earn income in the state, nor am I personally a Virginia resident.  I have searched ad nauseum for an answer on the Virginia state websites, but can't figure it out.  (Also I recently had to drop my accountant who was zero help).  

Thanks!

J

Thanks, everyone.  I may give her until the end of the month before getting an attorney.  Part of the problem of course (for those of you familiar with Fayetteville, NC real estate) is that property managers are few and far between, and good ones don't seem to exist at all.  As crazy as this sounds, it's almost like we need them way more than they need us.  

She initially appeared really hard-working, and even immediately corrected a few issues with the condo (it was already rented).  It's disappointing that it appears she's simply keeping the rent.  I am flying back to the U.S. in November, so one way or the other I'll get it solved.  

Amazing that your lowest producing properties take up the most amount of your time!

... people were inherently good...

I'm pretty sure my new property manager is deliberately stealing from me.  In about February of this year I changed property managers for a condo I own in Fayetteville, NC.  Yes, C property at best, but I still expect some attempt at professionalism.  Anyway, since signing a contract in June I have received no deposits whatsoever... June, July, August.. nothing.  My emails and texts have gone almost completely ignored (except for a "I've been traveling... I'll contact you later" type of response).

Trouble for me is, I live overseas, so physically visiting this person is a bit difficult, but I'm not adverse to the idea, for the principle of the matter.

My question is, at what point do I call the police?  Or contact an attorney? Any advice?  In my twenty years of out of state real estate investing of five properties, I've never experienced such a situation. 

(by the way, if any of you are considering a property manager in the Fayetteville, NC area, PM me for someone to maybe avoid).

Thanks for any response,

J

Good morning, BP community and fellow buy and hold investors.  I recently dropped the property management company of my condo in Fayetteville, NC.  I had already found a new one (thanks to BP), but had not yet signed a contract, since they wanted a termination agreement severing my ties with the first one before accepting me as a client.  However, the first one is too lazy to give it to me even though they understand the relationship is indeed over as of 1 June. And now, the new one has either disappeared or is simply no longer interested in managing this property, since they have not responded to my emails or phone calls in almost a week, and 1 June is right around the corner.

At this point I'd like to simply start over and find a third one. Any advice or recommendations?  Thanks!

(Can't believe the property that makes me the least money consistently takes up most of my time...)

Jamie

Hi, 

I'm also considering finding a new property manager for a rental I have in Fayetteville, NC.  Any other suggestions out there?  Mr. Huffman, may I PM you for your recommendation?  Thanks, everyone.