All Forum Posts by: Phil Earley

I recently refinanced a place through Fidelity Bank out of Gwinnett.   Jeff Zuloff(spelling?) was the mortgage person and mentioned he could do smaller loans during our conversations.   He said down to 40k. 

The magic number in my opinion is 450-600 single family units/clients to have a well established business.  You aren't too overwhelmed, you can implement the proper systems and retain a great staff to keep your clients long term.   

The owner of Aqua Guard has been conducting continuing ed for the real estate community for many years and the one comment he made has stuck with me, "there has never been a foundation I can't fix."  @Richard Balsam is spot on.  This could be a great opportunity. 

You can go to Narpm.org  also to start.   National Association of Residential Property Managers.   Once you narrow it down to 2-3, make sure you visit the offices for a final decision. Meeting the staff and viewing the office is the best measurement of how they will take care of you.  

From what you have said about your tenant/customer,  good customer service from a landlord/business should pay off.   

A good place to look also is on Narpm.org  Florida's Chapter website.  The National Association of Residential Property Managers .   

Vendors advertise to this group quite a bit. 

As consumers, we compare products, services, pricing, and features to make a choice that is best for us.   

I ran across a Realtor who will manage for free to get the sale in the future all they way to the gouger who charges for everything.........and loads in the middle. 

Somewhere in that spectrum we will all find a perfect fit. 

@Ethan Atkinson is correct that the lease purchase agreement does not exist in the Georgia Association of Realtors forms list anymore.  Seth Weissman is an Attorney in Atlanta and has been a part of writing the GAR forms for many years.  He jokingly stated in a seminar years ago that he has never seen a lease purchase contract get to the closing table.  I personally have been licensed since 1996 and have never seen it happen either.  

The only word of caution I have is that the law is clear about  not being able to make the tenant responsible for repairs in a lease.   You cannot "contract" out of a law.    If the option to buy is not consummated and the home goes into disrepair, I'm not sure the court system will back you.....I second @John Thedford, talk to an attorney.   

Aqua Guard Foundations has been an approved vendor for years with the Georgia Association of Realtors.   The owner is a certified instructor through GAR for continuing education so most of us licensed people have learned about foundations from him.  

I'd call a specialist from the start.  Inspectors tend to make general comments and always have a disclaimer in regards to "hiring a licensed contractor for further investigation" when it comes to foundations, plumbing, electrical, hvac, certified truss engineer, etc.....  

Hope that helps!

You can go to narpm.org - National Association of Residential Property Managers.  

Here is a link for some questions to help you narrow it down.  I can also send it pdf if needed.  

 Top Questions to Ask Before You Hire A Management Company

Once you have it narrowed down to 2 or 3, set up a time to visit the offices. Walking in the front door is the best way to gauge the professionalism of the company and to determine if they are a good fit for you or not.  Consider it the first date...not all of us should get married:)

Good luck and I hope this helps.