All Forum Posts by: Naga A.

It was one of those "turn key" properties. The same company that I bought a property from had this pm.

I can fire the pm but the problem is the contract include a language that says if I fire the pm, I am obligated to pay the commission fee for the remainder of the lease (there are 10 months left under the current lease.)

My property manager charges me with 20% premium of any repair costs when they act as general contractor to sub contractors.

On top of that, I received a letter that they hired an inhouse handyman for unlicensed minor repair work. They charge $65 per hour for such work.

What do you all think? Seems to me these charges are excessive, and give pm an incentive to have as much repair work as possible (in fact, there have been numerous repair works on my property so far.)

The property is old (built in 1958) located in Atlanta.

Hi

I need a help from local investors/individuals. I intend to buy a SFR located in Riverview, FL and need a good honest general contractor to assess the repair cost (it is tenant occupied, so repair should be light). I also need an inspector. Since I do not know this area very well, any advice would be appreciated.

Thanks!

Thanks J

Very solid advice. Sound like the due diligence is not much different than when we have an agent involved.

The seller accepted my offer except that we agreed to split any repair cost.

Any advice? If I was not clear in my initial post, my question was, at the due diligence stage, is there anything I as a buyer should be careful about because there is no agent involved in the sales transaction.

also, how should we proceed to close the sale without any agent involved? Should we draft a contract? If so, should we just use the Florida realtor form?

An acquitance of mine wants to sell his investment property to me because he is going through a divorce and wants to get rid of it quickly.

Using the 2 % rule, I am thinking of offerring him $50,000 minus any repair costs, which he probably will accept. According to the data of similar houses that recently sold in that area with Zillow and Home.com, the comp is around $75,000. It is a tenant occupied. The current rent is $1000 (according to rentometor, it is reasonable).

Now, I never bought a property from an individual and do not know the area well (Riverview, FL).

What the due diligence should I go through? Any advice as to buying a house from an individual would be appreciated.

Thanks,

Naga

Kiran

I believe that company is the property management division of Key Property Investing, which offers turnkey properties to investors.

Did you buy your properties from them? If so, are you satisfied with their services?

Hey Peter,

I do not have any useful information to give to you on this, but want to say "hi" as I am also an out-of-country investor, investing in the Atlanta market (Dekalb country, particularly).

May be we can exchange information sometimes. I also always look for a good property manager.

Naga

Hi, Mike

I just sent you a colleague request.

Cheers.

Naga

Hi Aaron,

Hajimemashite, nihongo jozu desune.

I sent you a colleague request (sorry for my ignorance but it is my understanding that we have to be colleagues for me to send you a pm, no?).

I will be visiting ATL this year so I will definitely contact you then.