Investor · Madison, AL · Member since 2020 · 40 posts · 26 votes
I'm a new owner of an investment property from Memphis Investment Properties. The property is managed by Reedy & Company. I have accessed the online owner portal and have set up an account. I am not sure what to do next. I have called, left voicemails, sent e-mails and messages but haven't received a response. Has anyone had this problem? It has been two weeks.
I'm a newbie at this. What made you leave Reedy if you don't mind me asking?
It was a few years ago but I believe it was related to high repair costs. I think it was Zak that I dealt with. They all say they can save you money over your current PM, then you move your properties over, then the got ya.
I had three houses with Reedy a while back. Stayed with them for about 6 weeks and and got my houses out as soon as I could. I recall, it cost me about $1300 for basically nothing.
I'm a newbie at this. What made you leave Reedy if you don't mind me asking?
It was a few years ago but I believe it was related to high repair costs. I think it was Zak that I dealt with. They all say they can save you money over your current PM, then you move your properties over, then the got ya.
Twice, over the past five years, I went to Midsouth about managing a couple houses (but they needed some rehab). The first time, they said it was out of there area. That house was North Memphis, outside the city limits. The second time was the needed rehabs. They said they were doing 100 rehabs at the time and didn't have the ability to take on more projects. So, I believe they would take a perfect house.
But, after reviewing emails to midsouth, I saw the reason I was leaving Reedy. It was because the rehab estimates were the highest of the ones that I got and also that they were very slow getting to them.
Here is the contact info for the guy I communicated with at Midsouth. Maybe he can advise more than I can: Matthew Vanhorn Branch Manager Mid South Best Rentals 901-274-5237 (P) 901-231-4992 (F)
Hey @Michael Hansen search for some of my posts and you can get some ideas of the uphill battles you face in choosing a place. Feel free to message me direct- I know people. :)
Just my opinion on Reedy. They put out a poor product. Their rental adds are poor. Their pictures are poor. Their houses sit on the market for a long period time. If you put in the time to get your rental ready and do your own marketing you don't need property management like them.