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All Forum Posts by: Nelson J Castillo

Nelson J Castillo has started 5 posts and replied 22 times.

Post: Looking for a seasoned investor in the Tampa Area

Nelson J CastilloPosted
  • Investor
  • Valrico, FL
  • Posts 23
  • Votes 4

Hi Everyone! My name is Nelson Castillo and am looking for a seasoned investor in the Tampa area that I can help. I am currently unemployed and have plenty of time to offer. I recently worked as a closer for a multifamily HUD lender and have pretty good Microsoft Excel skills.

Personally, I bought my first duplex in 2015 and sold it at the end of 2017. I am interested in flips, fixing properties and buy and hold properties. I am looking to add value and make life easier for a seasoned investor that can use some help with their real estate investments.

I am open to anything. Feel free to send me a message if you are interested!

Best Regards,

Nelson J Castillo

Originally posted by @John Thedford:

@Nelson J Castillo

Do they answer their phone? Are you sure they didn't skip with your funds. It happens.

 They do not answer the phone. Last message I received from her was on 6/29. She said "I will finalize your account and give all keys to (new PM) and write funds to you".

I have her license number and have filled out the complaint form and gathered all necessary documentation to submit to DBPR. I have also contacted an attorney about the matter. Attorney will give me a call back on Monday since he was out of office today.

@Mindy Jensen I have her address as well and will be passing by her office. Unfortunately, she is the head of the company.

Originally posted by @Robert Gilstrap:

@Nelson J Castillo you're causing part of your own problem here by not jumping on things when they appear out of whack. The millisecond you don't get money/statements from someone who's main job is to pay you money and provide you with statements you get them on the phone and/or drive to their office if need be and find out whats going on. No response within a reasonable amount of time? Then you terminate their agency and notify them of their breach of the agreement. 

No resolution within the time period described in your mgmt agreement = filing with Florida Division of Real Estate and a suit in local court. Do what you threaten to do and stop sitting back thinking things will just get better on their own (because they won't).  

You didn't mention this but are you dealing with an agent who is managing your property or the broker? If an agent who is unresponsive all you need do is pick up the phone and contact the broker he/she works for and I assure you that action will occur in short order since the broker is on the hook for the agents actions.

 Robert, you are absolutely correct. This issue is self inflicted and could have been avoided altogether. Lesson defintely learned.

I am dealing with the broker. I am filing a complaint with the Florida Division of Business and Professional Regulation this morning and will contact an attorney about this matter.

Thanks for the advice!

Originally posted by @Victor Gutierrez:

Nelson J Castillo how far are you from the property, could you try to self manage, until you can take fully control of the situation. A good property manager is really hard to get but next time that you're going to hire one make sure that you ask them for reference and proof of the portafolio they manage.

 I currently live 30+ miles away and I already have a new property manager lined up which I properly vetted. It's just a matter of transferring the management and receiving funds owed.

Originally posted by @Laticia Braxton:

Unfortunately, some states don't require a PM to be licensed (MD, where I am, is one of them) so you have anyone with a computer and basic bookkeeping skills assuming they are qualified to manage a property. If you are in a state that does require a license, go directly to the Dept. of Labor & Licensing. 

If not, I would tell you to start with sending the PM a CERTIFIED letter, advising her that you are hiring an attorney since she has failed to provide you with the information you requested.  Then, contact the BBB in your area to ask if that company is registered and file a complaint. After having received the letter, she should contact you immediately, assuming she has a brain.

Make sure you get ALL of your records from her and even though it may be costly, I would also suggest re-keying all locks on your units (assuming she had copies of keys). Advise your tenants that you are changing management companies and changing locks as a result, for security purposes. Protect yourself and your tenants as best you can from any future retaliation.  This may sound extreme to some, but you clearly are not dealing with a real professional.

Best of luck to you!

 Thank you for the advice, Laticia!

Originally posted by @Jay Hinrichs:

PM's are licensed by the state a saber rattling e mail about filing a complaint with the department of real estate for withholding your rent or not turning over your leases etc.. will usually get them off the dime.

be aware changing managers usually cost you money as tenants will now want all sorts of reparis etc etc .

 Thanks, Jay! I tried putting off changing managers for a while even though I was unhappy with the results. Although it may cost me money in the short term, I will be better off long term (I hope). 

I have sent her all sorts of emails, but I haven't threatened with filing a complaint with the department of real estate. Think that will be my next step before scheduling an on site inspection.

Originally posted by @Thomas S.:

Time for you to make a onsite owner inspection. This is necessary when turning over PMs if you are serious about your responsibilities regarding managing a PM.

Set up the inspection yourself and inform your present PM of the timing. Be there to supervise.

Thank you for the suggestion, Thomas! This is a good option. I will reach out to her, hope she gets the message since responsiveness has been an issue. 

Good morning all!

I have a bit of a problem regarding the property management for my section 8 duplex in St. Pete, FL. I have had this property for a little over a year and while it does cash flow well for me, I have had issues with my property manager. This being my first property, I decided to keep the previous owner's property manager for the sake of continuity. BIG MISTAKE! She has not been very responsive and although I ended up receiving the rent/statements from her throughout most of the past year, I usually received everything late (not because the tenants were late on rent but because she is incompetent). Well, I have now not received anything from her since April. I obviously decided to change my property management, however my current "property manager" has not been able to schedule a walk through for the new management team. I have been trying to make this change for over a month. I have reached out many times (daily, through email, text, phone call) to her and I rarely get a response (usually a vague response like "i'll send it today" or "i'll be in touch with the new property manager"). 

I now know how important due diligence when selecting a property manager is. I need help figuring out what actions to take at this point. Is there legal action I could take to get the rent that I am owed? Thanks in advance!

Post: Newbie RE investor in training from Miami, Florida

Nelson J CastilloPosted
  • Investor
  • Valrico, FL
  • Posts 23
  • Votes 4

Welcome to BP Sean!

Post: New Member from Miami, fl

Nelson J CastilloPosted
  • Investor
  • Valrico, FL
  • Posts 23
  • Votes 4

Welcome to BP Yunet!