All Forum Posts by: Meghan Hunter

@Steve K. yes please!

@Michael Smythe I'm just wondering if I should go to a lawyer or not. After further digging it's clear they've screwed a lot of people over.

@Angel Mora which market are you in? I'm having a horrid experience with them in Denver area.

I have two properties in Louisville, CO managed by Evernest. Both are 3/2 with great yards and clean/well-maintained (at least before Evernest took over). Both have had just 60% occupancy over the last year, which as I understand it, is completely absurd. On top of that I've been dealing with an issue of who's at fault for major damage that originally occurred due to their shoddy management and maintenance. So I'm here looking for advice...

Here's the quick rundown: The sprinkler system wasn't winterized correctly in Oct 2022 so valves broke. Maintenance was sent out May 16, 2023 to do turn on, but left because they didn't have the parts (ridiculous excuse) and didn't turn the water off because the renter said they would do it. The next day, May 17, 23, after report of water in the yard, they went back, but again the renter said they'd turn off the water so Evernest's maintenance did not do so. Evernest is claiming the tenant wouldn't let them in the home to turn the water off even though they were given notice and CLEARLY hadn't turned it off the previous day, or there wouldn't be an issue of water being in the yard.

Unsurprisingly, 17 days later on May 29, fire department has to go out to turn off water because of massive flood which ended up causing $9k worth of damages inside my home. Mind you, this means management hadn't gotten around to fixing the issues yet - and a valve is an easy fix that certainly shouldn't take 2+ weeks. Management is blaming tenant, but I believe management is (mostly) at fault. Had the winterization been done properly none of this would have occurred. Had management done their job to fix the issue none of this would have occurred. 

They also are now saying they didn't get to the remediation part until May 31 because the tenants started the remediation. WHAT?! It's as if they've let the tenants manage my property while I'm paying Evernest to manage my property. After that, the fixes took 2 more months to complete, leading me to miss the hight of the rental market, and the home ended up sitting for 5 months total.

So I've got lost rent, and they've finally offered to cover the cost of the rehab (though they're still going after tenants for that $$). But they won't offer anything for lost rents or agree to run a mold/moisture test at their expense. 

Anyone have any advice to offer? I fee like after reading other reviews here, this management company is a complete nightmare. But I do not like the feeling of being bullied and brushed off. Is it worth getting a lawyer involved?

I'm having serious issues with them in the Denver/Boulder area (I have two properties there). I came here to see if anyone else had experienced the same, and lo and behold, they have. It's super frustrating. They've completely botched what should have been a simple sprinkler winterization (and have admitted to it) but refuse to pay for the lost rents I incurred because of it. They also refuse to admit that a 3/2 in downtown Louisville, CO, should absolutely not have a 40% vacancy rate -- ever. I'm considering hiring a lawyer at this point. 

Has anyone dealt with anything similar and can offer any advice? I couldn't in good conscious recommend them to anyone.

@Sean Maguire Did you do any further investigation into Life Changer Loans? I too am wanting to hear from people who've actually used them.

@Colin McAlpine Can you send the info my way? Looking to do a smallish remodel right outside of Denver. Thanks!

@Monica Casabona Can you share the contractor you found? Happy to PM you if you prefer it. Thanks!

@Keith Miller Just sent a request to connect and I'll PM you through there!

I have a rental home in Missoula, MT, and am having a hell of a time deciding whether to keep it or sell it. It was fully updated/remodeled in 2015, is ~3000 sq ft (old Victorian), it currently cash flows ~$400 per month, and I have about $250k of equity in it. 

In theory, I could sell, pull out that equity, and reinvest in ~5 single family homes in the southeast (think Birmingham, Memphis, etc.) and increase that monthly cash flow to $1,400+ (on the conservative side).

That said, the home sits on THREE city lots and is more or less in downtown Missoula. If the home were in disrepair I'd tear it down and build townhomes because the lot is zoned for and could easily fit 4-5 units that would likely go for $650k+ each. And the location is honestly better for townhomes vs. a huge single family home, given its proximity to downtown. But I can't justify tearing it down right now given it's a perfectly lovely home. 

There's also the option to build a garage in the back and put another rental unit over it. The zoning allows for it and there's more than enough room on the three lots.

Given all of this, I think I have four options...

1. Should I keep it and wait 5-10+ years until it makes more financial sense to develop the lot?

2. Should I sell it at (hopefully) what I believe is a reasonable market value, get the $250k out of it, and do a 1031 exchange? 

3. Should I put it on the market and try to really push price? Kind of test the market and walk away if I don't get what I want, even if it's a bit aggressive? There have definitely been some homes selling for well over what'd be considered "reasonable." I could put it up for $850k+ and just see what happens?!

4. Should I build the garage and extra unit sooner rather than later?

What would y'all, the experts, do?? Any options I'm missing??

I don't need the cash flow, necessarily. I think I'm having the most trouble weighing the benefits of cash flow now vs. a potentially larger payout years from now. Halp!