All Forum Posts by: Paddy Krishna

@Natalie Schanne 

Since you are busy and don't have time, find a partner who you trust and let the partner run the daily show. Invest in duplex/triplex with long term appreciation and decent cash flow. Let the cashflow cover your monthly interest and In thirty years, you would have accumulated lot more properties. Good luck. 

Thank you @Jonathan Tavarez . Right now we are in the process of transitioning to another PM. I will certainly keep this in mind for any future need.

Thanks for your overwhelming response and good suggestions. I love this community. This morning I had reached out the turnkey operator complaining about the PM and asked them to intervene. We finally heard back from the PM and they agreed to the transition. We have started the process of transition. I will keep you all updated here.

We bought a property in Baltimore from a turnkey operator. The turnkey operator recommended a property management company. The property was rented  a tenant. After two months the tenants stopped paying the rents. The property management didn't even know that the tenants were paying rent until we complained it to them. It has been 5 months since the tenants paid the rent. The management company has done nothing to collect the rent nor reached out to the tenant to make alternate arrangements. They don't return our calls nor respond to our emails. 

We later came to know, almost all the investors bought property from the turnkey operator were using the same Management company and they all have bigger complaints than us. The irony is that no legal actions were taken against the management company and they are still in business. 

We want to move to a different property management company. We emailed them saying our intention to move to a different company. We requested to send a copy of the ledger. But they are not responding to our calls and we are are at a loss. 

My question first questions is what is the process to fire them and move to a new management company? Second question, if at all possible, how to collect the unpaid rents from the tenant?

@James Dolan Congratulations on this great deal. 

Planning to buy a duplex rental property in Malvern, PA. Any one recommend a good property manager that understands that area, able to find potential tenets and maintain the property.

@Cameron Lam, congratulations on your great achievement in a short period. Your detailed blog is very helpful and inspiring. Thanks for the inspiration!!!.

@jon Hill Thanks for asking. 1) I am listening to BP and other real estate related podcasts. 2) With my partners we own a property through Hubzu auctions. Next few months will be busy rehabbing  and getting it ready for rental. 3) Once that is completed, look for the next opportunity.

@Jon Hill

This is my first post in BP.

My goal for 2020 is to have a minimum of 500$ cash flow