Updated almost 9 years ago on . Most recent reply
Good reputation is not enough! PM not coming through
I'm a newbie investor who recently purchased a duplex through a company here on BP that has an excellent reputation, and stellar reviews. Unfortunately, they are not coming through for me... They were great up until the closing, but since then communication has been spotty at best. I closed on this duplex on March 30. There was about 5K of work that needed to be done. ( I was just instructed to send money, never really got a quote of what that money was for, but the general list did not include any major renovations, just things like painting, some electrical work, cleaning up, etc)
It is now almost two months later, and I don't believe they have even begun showing it to tenants! I am already paying holding costs, without any cashflow coming in. This is an out of state property, so I can't easily go and check what is going on. Every time i ask for an update, I'm told were finishing up, will be showing really soon...
Can any more experienced investors give me some insight on what the turnaround time should be on a project like this?
Does anyone have suggestions on how I should approach the situation?