All Forum Posts by: Tony Huang

@Christine Kankowski Thanks for sharing!

@Nathan Gesner

Thanks for all the elaborated suggestions! Those really helped in vetting PMs. It's also a relief to know that it's somewhat common to hit by larger expenses in the first year. Finger crossed for the following years.

In terms of the repair, the major one is the roof leak in the corner of the sun room and mold was also present. It cost me 5.8k. Then every now and then there were some small bills for faucet broken or toilet leaking, which usually cost ~$200...

@Robert Gilstrap

Thank you! I'll PM you.

BTW, they are actually NARPM credentialed and fairly large one. But maybe they are just too large so that they can't provide more attention to small customers like me?

Hello,

I'm looking for a property management company for two of my rentals in Morrow, GA. Does anyone have any recommendation? I'm a long distance investor so good PM is crucial for me. Some of the quality that I'm looking for:

1. Prompt at responding, both to me or tenants

2. Won't nickel and dime me in terms of property visits and scouts, repairs, project management etc.

3. Have reliable and reasonable priced GC or vendors resource for repairs, maintenance, etc.

4. Long distance investor friendly. Cares about what investor needs most. I'm fairly new in this game so need someone who could provide valuable advice, from investor's perspectives.

5. Last but not least, honest, open minded and straightforward.

My current PM is doing ok mostly but recently the point of contact that I have from that company is very unresponsive (calls and emails), even in the middle of one major repair of one of the rental. It's very frustrating every time I pick up my phone only to hear voice mail box or sent an email w/o any responses in weeks.... He was also not familiar with the physical condition of the property itself which makes me not confident at all to take advice from him regarding whether certain repairs or actions need to happen to the property. It's almost like he know just as much as I know, from the report and pictures GC sent to him, not from his own eyes. (And yes, they charge for every property visits...) They seems not taking very good care of my properties which starting to make me think it's one of the contributors of my high spending on repairs of those two properties. They only charge 6% monthly management fee, which as far as I understand is on the low side. However, I won't mind pay another 2% if I could rest assured someone good is taking good care of my properties and tenants and I could enjoy stable cash flows at home.

Thanks in advance for the recommendations! 

Also feel free to comment on what other things I could do to lower my repairs. I've owned them for more than a year and aside from appreciation, I'm having negative gain because there were like 5 repairs already and one of them cost me ~6k...

Best,

Tony

@Caleb Heimsoth

It's just a part of the roof. Below is a job description that comes with quote if that'll help.

- mold remediation

- gutter repair and roofline repair

- tape and seal off entire sunroom for treatment

- disposal of all items in the sunroom

- replacement of 7-8 blinds affected by mold

- white suits for workers and etc.

- dumpster rental

- demo of affected sheetrocks and replacement

Hi BiggerPockets,

Recently I've got a quote from my property manager for fixing mold issues in roof and other small damages related to that. Never dealt with such damage before so want to get some of your professional's opinions on is it normal for this kind of repair to cost ~$4000-5000? (Property is in GA). If someone happen to be in Morrow, GA area and can perform the job, feel free to message me as well.

Then another question for you folks will be does it make sense to find vendor by myself or trust my local PM? I think my PM is helpful most of the times but when it comes to quote for repairs, it seems always on a high side. Am I just being too paranoid? (I usually request at least two quotes for the same job to mitigate the chance being ripped off...)

Thank you in advance!

Best,

Tony

@Carly M. Hi Carly, I'm sorry to hear that! Will keep my eyes open for that! Thank you!

@Mike D'Arrigo Hi Mike, I see you also in San Jose. Do you mind PM your contact so we could probably have a further discussion? Thank you!

@Chris Dawson A great place to start! Thank you so much for the link!

@Austin Fruechting Thanks! Anything special about KS that property manager is particularly important? Also, any recommended manager that I could start with maybe? (Hopefully it's not against any sort of regulation on BP)