All Forum Posts by: Sam Nichols

Thanks all for the advice!  I found a new PM (Advantage Property Management) and am excited to start working with them, so far so great :D

Quote from @Tony Ros
Was this PM a one man company? Perhaps there is a health issue

I think it is a 1 person company and they said they were dealing w/a family issue at first but thats no excuse to ghost months of calls/emails and no payments. I think my lesson here is only deal with larger PM companies, and when it starts to go south jump on it sooner.

Quote from @Theresa Harris

I'd see if there are other phone numbers to try? Do you have contact info for your tenant so you can contact them directly?

I asked them about the current tenant and conveniently they were just evicted :/

Quote from @Lynn McGeein

this happened to us in Raleigh. It was a single licensed manager with support staff...

I think this is exactly the issue, they said they had 1 staff member but they quit and the owner has a family emergency... for months

Quote from @Nehemiah Burney-Porter

You dont need to lawyer up yet. But you should DEF find another PMG like yesterday

Agreed, I'd love some recommendations (thanks @Greg Campbell) or the service @Scott Trench is suggesting, but failing that I'll start with something like NARPM.com as @Michael Smythe suggested.

Thank you all I really appreciate it.@Lynn McGeein@Lynn McGeein

Hi all,

long time lurker but I've run into a spot of trouble.  I have a property in Memphis that the property manager has been managing fine for > 5 years and they recently became unresponsive to calls/emails and have missed sending payment to me.  My question is what are next steps?  I imagine a lawyer is part of it but I also likely need a new PM and what even is the course of action to get keys/info/etc from the existing (unresponsive) PM?  Best solution would be finding a new PM that can just take care of all of this for an additional fee...

Hey Pierre, did you get any more info on turnkeyphilly?

Wow, the COPS reference is a really good visual aid, that puts it in perspective pretty well.

Hi All,

Just starting into this real estate adventure on my first couple properties, I have an agent I like (reco from a good friend) and am personally interested in cash flow and COC return so I point out several properties I'm interested in and the agent says "I try to steer people away from those types of properties, "C" neighborhood properties, they're just a lot of trouble". So he's pushing me more towards "B" neighborhoods which have lower COC (~14% instead of ~18%) and almost half cash flow. Now I'm wondering, given a good property management company, how are "C" neighborhood properties more trouble than B for me?  If the vacancy loss, management fees etc are all disclosed and calculated into the property performance, why not pick the more performing property even if its "more trouble"?

Thanks!