All Forum Posts by: Patrick Pendley

I am a Investor, Broker, PM in Waco, TX. Some of the Properties I manage, I also own. We collect rent mostly online thorough our software. (Rent Manager) I would not recommend Rent Manager unless you are planning to scale a PM business to the point you are managing for others. I would recommend Rentvine. Texas requirements for PM company. (meaning you are managing for others, not just yourself). 1) Have a Real Estate sales licence and have permission for your Broker to do Property Management. Or be a Broker yourself. 2) Keep any money you handle for others in a Trust account in your Brokers name. 3) Account for Trust funds on at least a monthly basis to owners. 

There are other requirements for different circumstances, but those are the basics. 

It has been said, but look up the NARPM members. Mike Megden is in Houston and would be a great choice. 

Investor, Broker, PM in Waco 16 years. Me and and my partners own quite a few properties here. We do different stuff in Real Estate. I would say what we look for the most is properties that are good buy and hold investments. We flip and wholesale properties also. 10 years ago the "areas" in Waco made a much bigger difference. Now every area is doing well. Anything close to down town including East Waco, traditionally lower end area, is really turning around and of course anything near the magnolia silos is really hot. Not sure if that helps.

We are now using it, but I have not had to make a claim yet. Tenants really like the option. WE upped out security deposit coverage from 1x rent to 2x rent when we implemented, and that has been pretty seamless. I have talked to some Professional (Larger) PM's than me. As I understand it the PMI Franchise is rolling this out to all of there offices. The message from Rhino is that they pay 100% of their claims. The PM's I have talked to that have experience with them said that they have never had a claim denied.

WE are now using it, but I have not had to make a claim yet. Tenants really like the option. WE upped out security deposit coverage from 1x rent to 2x rent when we implemented, and that has been pretty seamless. I have talked to some Professional (Larger) PM's than me. As I understand it the PMI Franchise is rolling this out to all of there offices. The message from Rhino is that they pay 100% of their claims. The PM's I have talked to that have experience with them said that they have never had a claim denied.

Elliott, Central Texas is a great area for Real Estate Investment. We are in Waco, Temple/Belton/ Killeen, DFW area. We use Rent Manager and love it, but it would be way over kill for what you are looking for. I have hear a lot of good things about Rentvine as far as being user friendly etc. Sorry I couldn't be of more help. 

Goodman is the Generic Brand for Amana. They literally are the same unit just with a different name plate. The Amana cost more because it comes with a better warranty. I use Goodman in all of my rentals and they only problems come with Install or Tenant neglect. 

I will accommodate my owners a get multiple quotes sometimes, but as a PM I am getting these bids and quotes constantly so I already know the people in my market that do a good job and are the most reasonable and quickest. Additionally my vendors of choice usually give me a discount that wouldn't be availabe to just any consumer. 

I'm it Texas, that is in line. 

You want Donnie Hall. You can google him.