Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 28 days ago on . Most recent reply

User Stats

7
Posts
0
Votes
Joshua Lanzieri
0
Votes |
7
Posts

PLS HELP!! Property manager spend $8k over budget

Joshua Lanzieri
Posted

Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut. I specified that my budget is $15,000. After she gave me the numbers, I calculated the rehab to be around $16,000 which I was fine with.

I saw on the app we use to track expenses that there were small charges for the rehab which I was fine with. Today an almost $19,000 charge came in which totaled the renovation charges to almost $22,000. I cannot afford another above the $16,000 which is why I told her $15,000 was the budget.

I also stated to let me know of any extra charges that come up so I can watch the number. And out of no where a $19,000 charge comes out.


What do I do?? I’m a young investor and have no money. And I feel like I got took advantage of. I also cannot afford this.

Loading replies...