All Forum Posts by: Darlington Agu

@Kenny Dahill

I honestly only looked up 3 different companies and this company seemed to work best for me. I wish I had more time to do more research but I came across this property and needed to act on it fast.

I’m looking for a new PM company in the Houston area. The company is currently using are less than professional, they seemed to have forgotten to collect debt on one of my units last month. I found them on yelp and although the ratings were good I feel like they’re not trust worthy. If you have any great suggestions please send them my way. I need to fire this company ASAP.

I'm in need advice on what to do with my property management company. Here is the story, Im currently going through an eviction with one of my tenants in my Quadplex I recently purchased the past June. This is my first investment property and didn't know how valuable vacant units were when buying (lesson learned). I unfortunately inherited 3 problematic tenants that are routinely late but as of now only one of my tenants have not paid despite 3 day notices and so forth. Here is the issue, it was I that had to notify my PM that the tenant missed a payment. I received rent for 3 units minus this tenant on the 10th of Aug. At this time my PM did not notice that one unit did not pay nor did they notify me. After I made reference about missing rent, they then reached out to the tenant for the rent plus late fees.They did not begin the eviction process immediately because the tenant that they would bring the rent plus late fees the following week. We are now in Sept and the tenant has not paid Aug nor Sept rent and the eviction hearing is now set for the 14th of this month. To add to the headache another of my tenants have not paid this months rent. My gut feeling is saying this company is allowing the tenants to pay late because of the late fees that they are getting. My question is should I fire them now although im going through an eviction or wait till this eviction is complete? Ive heard of difficult PM stories but this is crazy. Im just releived I noticed this issue now. BTW the company name is Real Property Management Preferred Houston TX. 

Also if any investors have a suggestion on  upstanding PM company in Houston please let me know!!!!!

@Chris Clothier Thank you very much for the insightful response, I also really appreciate the connection recommendations. Ive been hit up already by companies trying to sell me turnkey properties, I wanted to stay away from those because I wanted to take advantage of the BRRR strategy. As a new investor and based on the research I've done, I agree lower rental prices do bring in a tenant pool that could be a problem. I own a quadplex in houston and have experienced a few problematic tenants. "If you are going to buy out of state, find out the median rent and look to be in the highest 25% of actual rental costs for that area", this is very good advice, and would bring in a far better renter pool

@Chris Clothier I’m interested in purchasing in the Memphis area, I really liked your advice regarding aging properties and high turnover. What advice would you give to newbies interested in the Memphis area. I would also be an out of state investor

@Zack P. If 4K in rehab holds I thing it’s a good deal. Also have you checked with sites such as rentometer.com to confirm the 800$ rent?

thanks @Jeffrey Isenberg for the information I will be there 

Hi 

Ive been doing some research on the Midwest and grew interest in the Memphis, TN area. Im really attracted to the low purchase price point and decent rental rates. I plan to use the BRRR strategy out there. Im reaching out to any investors in the area who maybe able to share their experiences on why they decided to invest in Memphis. Also I'm looking for wholesalers in the area as well, please message me if you have any great suggestions.

thanks 

Ill be there. I own multifamily properties in Houston. lm looking to expand to other states. 

@Troy Jones That is an awesome goal for the year, my question is are you open to other areas or are you focused on staying in the Dallas Forthworth Area?