Investing out of state and dealing with bad property managers

[Mike Brown]

So I had 4 properties in wichita Kansas sold the triplex and kept the duplexes.  Me keeping was base on what I learned from biggerpockets. About type C neighborhoods. I got a property manager to "look after the properties " but what kept on coming up from the property manager. Was he doesnt deal with those type of neighborhoods but I was still optimistic as an investor. Long story short I've been paying for trash from the property manager. So finally I decided to jump on a plane to see what this So called hood was about. Got to wichita went to the neighborhood expecting to see a war zone. Compared to Detroit this neighborhood looked like the suburbs. So i am saying to say this new investors do not ignore any red flags from your property managers. Go where you have you're properties and make your own assessment because no one is going to turn down free money. Which I wasted some on trash property management. Now I am in the process of reversing the damage done and get these properties to where they need to be cash flowing. One example of a what thing the property manager could have to done. Was place an no trespassing affidavit on all three properties. This is learned from a city ordinance person on 12/12/25. Which i put place so if police sees anyone on the property they will be trespassed. I meet some great people in wichita one guy had 9 properties he does his own maintenance.  He even apologized for the bad property manager experience and even offered to lend me a hand. If he can. I got someone to start renovations as soon Possible. Because pm couldn't get numbers back to me plus it seemed liked it was only one contractor in wichita. I will be implementing a technology package to assist with these properties. Sorry for the long story. I liked my short time in wichita Kansas coming from New York 

[Drew Sygit]

Sounds like you didn't:

1) Screen the PMC properly to understand the services they provide and don't provide.

2) Ask enough questions about their standard procedures, to see how they met your expectations.

3) Ask for enough ongoing & proper updates, so you understood if they were following their own standard procedures or cutting corners.

4) Understand the market well enough to adapt 1-3 above to that market.

Glad you took the trip there to address some of the issues above. 

Just be sure to address ALL of them moving forward:)