All Forum Posts by: Sebastian Bennett

@Vinod Moorthy  Wagner said the deposits are held by a title company and you are saying the builder took the 20% deposits. Which is the case or are the remarks in this forum in relation to different housing projects and builders?

@Wagner Nolasco Thanks for confirming....Not sure why you are getting all of the heat and not the builder. Can nobody get in touch with the builder? Why don't these investors terminate and get their deposit money back?

@Elvis Occ Why did NAR fail you? And what's so bad about transparency and consumer awareness? I am sure there will be plenty of information released about how to proceed before the July start of the new regulations.

As Chris mentioned, it's important to read the contract which should outline all fees the management company can charge for their services. At the end of the day PM services are generally regarded as a loss leader for vertically integrated real estate companies that choose to self perform this task. Therefore, for a 3rd party to offer these services they generally have to find ways to provide affiliate services or generate additional revenues. Layer on the fact you seem to have a small account which suggests you are not getting the same pricing as a client who has many units under one roof where there are greater efficiencies. This is how the PM business tends to work. 

@Michael Smythe I worked for a landscaping company during the summer when I was in college. We would always provide insurance certificates to the property owner. The owner of the landscaping company always gave us a hard time about cleaning up after ourselves and made it clear to avoid creating any tripping hazzards because his insurance premiums would skyrocket if anyone got hurt. The company didn't have any ownership interest but and he didn't want his insurance premiums to increase. You can absolutely have a lawsuit filed against you and your insurance can absolutely be used if someone gets injured even if you don't own the property. 

Seeking a $500,000 preferred equity investment for luxury SF spec development. I am not the developer, I am a co-gp partnering with an established GP with a proven track record. Waterfall arrangement with priority return to the equity LP with projected 22% annualized return for a 16 month period.  30% of the required equity is also being invested by us as the GP's. Contact me directly for architectural plans, and pro-forma.

@Geoffrey Paugam Welcome! There's a few realtors who focus on the lehigh valley who post on these forums. They will be good resources for you. What mentorship program are you using?

Join Diversified Investors Group, lots of good resources for new investors. On my to do list to join myself just waiting for my schedule to lighten up to take advantage of the meet ups and education.

Has anyone actually looked at their website and staffing? Talk about nepotism!  Brent Mendanhall, director of special operations....wtf does that even mean? Dory Mendenhal VP of real estate; Molly Mendenahll Director of Real Estate....lets just give the family titles and put them on the payroll lol. I don't mean to make light of this situation because it seems a lot of people have their money locked up but there are so many red flags with this company based on the information that has been shared on these forums as well. How did they manage to grow a $250M portfolio as co-found Amy Vaughn's bio suggests off of your hard earned money?

Sorry to hear you got caught up in technicalities of the renewal. Important to read the fine print. Alo, I feel like its widely known Legal Zoom and like kind companies are discount options. I mean they even market themselves that way....so you really shouldn't be upset about the actual services. You sought out this service knowing they are a discount provider.