All Forum Posts by: Robert Gilstrap

Jorge,

Nicholas,  If you purchase I can manage. My office literally backs up to KSU.

Kathlyn,

Just inform your tenants that ABC Management is now their point of contact and (this is important) that you no longer have any authority or decision making ability. I'm not an advocate of lying to tenants but the email/letter to the tenants almost needs to sound like you have sold the property or have moved away to a desert island so tenants get the message that you are 100% out of the picture. That is the only way a manager can operate effectively. Just like Robert in San Antonio I also fire owners who fail to live by the "no communication" rule.

Your PM will have all the agreements you need. Just spend some time interviewing and making a good hire. This company is about to take over control of one of your largest assets and they must know what they are doing. Step 1 in determining that is looking to see if they are a NARPM member. If not, then keep looking.  Good luck.

Mustafa,

Just curious why the desire to find someone who does PM as a side gig?

Wow! People are sure quick to judge a situation without knowing all the facts. An accidental discharge of a firearm is a misdemeanor and certainly not the end of the world like others are making it out to be and evicting over something the tenant didn't even do and possibly wasn't even present?  Now add to that he's military and now deployed, good luck with that in front of a judge. Not gonna happen.

Your property managers advice is correct; you investigate via the police report and if it was truly an accident you put the tenant on notice about it and move on down the road. No harm, no foul. 

AHI Properties; Bryan Jenkins is the owner. PM me or just google them for the number.

Chris,

Great insight into the needs of an owner! Thank you.

DJ,

I think thats a pretty good idea. I own a management company in Atlanta and it definitely helps my investing while also providing $$. I'm also the broker of record in Georgia for the national franchise PMI (Property Management Inc) and while I'm not the franchise type I get to see their model and how they operate and I can tell you they have it figured out. If you want their contact info (and I mean the head people not a receptionist) then give me a call or email.

Michael,

I'm totally biased here since I own a mgmt company but my vote is yes for a lot of reasons. A good manager will never cost you a cent. Here's a short doc I put together on that if you want to view. I echo the comment about NARPM. If you interview a manager who is not a NARPM member I really have to question are they a real property manager. I'm happy to look at your property and recommend someone or if you just need help deciding give me a call.

Very unusual. Why would the PM info matter to them?  As long as you can get in contact with the existing tenants during your due diligence period you should be good. Get estoppel letters from them verifying their rent amounts, the remaining terms on their leases (assuming they even have leases) and any security deposits being held. 

Remember, if they have leases then you can't force them out just because you purchased; leases run with the land so you are bound just like the previous owner. With no leases then you just give notice.

JD, You are correct that there are a lot of bad PM's out there. One way to vet them is find out if they are a NARPM member.  I realize association affiliation is no guarantee but all the NARPM members I know and associate with are real pros in their field.