All Forum Posts by: VB Phom

@Emily Di I use Wave Accounting and have had a good experience thus far. It’s intuitive and user friendly. Customer service is quick with live chat options. Best of all, it’s free cloud accounting software.

@Han T. Thank you for the post that was very helpful. Last thing I need from them is more problems! 

@Frank Geiger There is miscommunication somewhere. They've been working on this house since November and I have yet to see it to completion. One side is complete and rented out. The other side has been a disaster. I find it hard to believe myself that's why I'm asking other investors if they've had a similar situation and how they dealt with it. They've already paid the bill and now I'm stuck with it. 

@theresaharris Thank you, I didn't think about calling from another line. I'll do that to see if they pick up. 

@jacethornton I would have approved the other work but not the countertops. I’ve called a few times and left voice messages waiting on them to return my call. I’ve tried calling everyday since last Friday. 

When I spoke to the PM on Friday to review the bill all she said was she has receipts to prove the costs. However, I took that afternoon to review the invoices and since then I haven’t heard back from her after trying to contact her after our first initial conversation. 

@Dana Whicker There’s no provision stating anything about turning over units with associated costs. There’s a section stating any work that is performed beyond $200 needs authorization. We’re in our early stages of our real estate journey so we’re learning as we go. Yes, I need a new property manager. I’ve been struggling to find another but will work effortlessly to line one up before our contract ends in November. 

@matthewpaul The renovations are part the work the PM is managing. This is pretty typical with management companies. We renovated one side of our duplex and that went well. With the other unit, it’s been one thing after another with surprise bills. 

The work was for a house that we are renovating. It was for counter tops, closet doors and other miscellaneous work. It was never mentioned to me when we started the work and that's what's throwing me off. 

Recently, I received a bill for over $2000 worth of work from my property manager. The contract states any work beyond $200 requires notice and approval from the owner. If I wasn't notified of the work and the cost associated with the work, what can and has been done in the past to rectify this? I'm super frustrated and am sure someone in this forum can help me navigate this situation. Or, just share your story to show a little empathy. 

@Eric Nurmi were you able to avoid the early withdrawal penalty with your 401K? I’m interested in doing the same; however, the early withdrawal penalty and IRS penalties are not worth taking half my hard earned money. Would love to hear about your strategy. Thanks.