All Forum Posts by: Rob Jones

@Scott Mac

Nothing in our contact governs this.  I read through everything today.  

@Tchaka Owen

Unfortunately I moved away from my properties and kept my full time job so it made more sense, at the time, to move everything to a PM.  There isn't anything in the contract that says they can pull from another property....but there also isn't anything that says they cannot.  Being a person that works full time in a client facing role, if I knew my company or one of the vendors we worked with were at fault, I would not allow the client to have to pay for that.

My wife and I talked about this situation earlier today because, for some reason, I'm much more bothered by this than I should be.  She compared this situation to someone going in a department store, buying a pair of pants, taking them home, then realizing there was a hole in them.  Upon discovering the hole, the customer returns the pants to the store for a refund.  At that point the store says "it's not our fault, it must have been the manufacturer that put the hole in them" and refusing the refund the customer their money.  In this situation, the customer is definitely not at fault.  The store may be at fault or the manufacturer may be at fault.  We don't know. Either way, we know the customer isn't at fault and it wouldn't be ethical for the store to say "it wasn't me so I'm keeping your money."  

In my situation, my PM told me that it could have been the utility company that dropped the ball or it could have been his team.  Either way, it wasn't me that dropped the ball so I don't see it as being reasonable that I should I have pay for someone else's mistake.  When I requested that he refund me the money while the situation was sorted out, he got an attitude with me and got really short.  I could tell he wasn't happy with me.  It's not an honest way of doing business and it worries me about the overall relationship moving forward.

Hello BP,

I'm in a situation that I'd like to hear from other owners on.  The PM company I use placed a tenant in one of my properties with a lease start date of May 1st, 2019.  The PM company told me everything checked out on the background check so they were approved to move in.  All good things.  Long story short the tenant moved in and never paid another dollar.  We started the eviction process during the middle of this month.  I understand stuff like this happens...it's part of owning rentals.

The issue I'd like feedback on pertains to the tenant's utility bill.  Upon move in either the PM company or the utility company did not switch the utilities into the tenant's name.  Needless to say this tenant ran up a huge utility bill(over $200) and my PM company saddled me with that bill.  They went as far as to taking the money out of rent I received from another property to pay for said bill.

My question to the group is....is this my bill to pay?  Am I wrong for requesting this money be refunded to me from my PM company?  The way I see it, either the PM company dropped the ball in making sure the tenant had the utilities in their name or the utility company dropped the ball in changing it in a timely manner.  Either way...I am not at fault here and I see it as being very unreasonable that my PM company make me pay.

Side note---By default, whenever a property turns over the utilities get placed in the PM company's name. This bill was not in my personal name or my LLC's name.

I'd love for anyone to either validate my perspective or provide me with a new one.  Thanks in advance!

@Kevin Emanuel

I invest heavily in Greenville and will be moving back to Raleigh NC in January. I'd be happy to be your boots on the ground for you since it looks like you're in NY right now. I'm comfortable with what things should rent for in the area for buy and holds as well as what you should expect from an ARV standpoint with a fix and flip

@Seth Robinson....same for you.  I'll be traveling to Greensboro quite frequently for work.  If you need someone to lay eyes on something for you I'd be happy to do so.  I'd also love to see your complex next time you're in the area.

@Ricky Reese 

Welcome to BP!  There is no other investment vehicle that increases net worth and throws off cash quite like real estate.  My wife and I grew up in Greenville and still go back to visit our family and our rentals a few times a year.  It's been a great area for us.

I would champion you to network with as many real estate professionals in Greenville as you can.  Now is the perfect time to invest in your education and your professional network.

Educate, educate, educate!

Hey Trevon,

Welcome to BP!  Greenville is really turning into a nice area.  My wife and I are originally from Greenville and do almost all of our investing there.  Feel free to send me a DM if you ever want to have a conversation.

Also---congrats on being a first gen college grad.  That's a tremendous accomplishment and you should be really proud of that! 

Hey BP!   I'm under contract for a duplex in Kansas City and am in need of an honest individual who can perform a property inspection.  Any and all input and referrals would be greatly appreciated!

@Nancy Bachety you and me both!  If I find one I’ll let you know.  Student housing is starting to get completely saturated near campus.  I’m in town right now and there are gigantic new complexes all of the place downtown.  

Heidi Wilson I’d say if you plan to move again within the next 3-5 years then I would rent. If you work in tech you will have recruiters flocking to you on a daily basis trying to poach you. More times than not you’ll come across an opportunity that you’d like to jump on but, if you’re tied to a 30 year mortgage, some complexities will be adding in. If you’re planning to be here long term then I would definitely try to buy. If you want to live in Bellevue please be prepared to get into a bidding war, pay above asking, and pay a very, very hefty amount. If you want something more affordable and would like to avoid a bidding war, the Pierce County area as mentioned above would be fantastic. My wife and I bought a new build in Edgewood last December for $425k. It’s 2100 sq ft, has a yard, 2 car garage, and are in a really nice neighborhood. The only downside for you would be commuting to Bellevue. Depending on what time you’d be getting to work it could take up to 2.5 hours. The travel home would be the same. If you can work from home I’d highly suggest buying in Pierce County as opposed to King. Let me know if you’d like to talk any more about this!

@Brian Corbett...I'll be home the 8th of June through the 12th.  Any chance we can get some people together in that time span?

@Sebastian Kressley    I plan to be home in mid-June.  I'd love to be able to make the next one!