All Forum Posts by: Naga A.

Ray-

Welcome to BP. I invest in the Atlanta market. Hope we have a chance to work together in the near future.

I agree with J Scott. As a cash buyer myself, I do not feel comfortable with any kind of "package deal" from seller.

I feel more comfortable using an inspector of my choosing.

Aaron,

Thanks for your comments. What this PM does is to markup 20% of any repair bills they receive from subcontractors on any repair work.

aren't all they do is to pick up subcontractor's namecard from Rolodex and make a call? I don't know how they justify charging 20% surcharge for that.

If it is a renovation work on a flip property, I understand GC charge some profit for ensuring the project being done correctly per spec and on time.

I still feel like this is unreasonable and that should be part of the monthly PM fee.

I have asked around other PMs that I do/did business with and they all said they never mark up any repair cost (they just pass through to the owner).

I buy properties for rental.

Maxim,

Just curious, what is your sales pitch when you try to sell a real estate property in Japan to foreigners?

I mean, it used to be the cap rates for Japanese properties general are higher than US properties. But, with the real estate price going down in US last couple of years, I do not see that sales pitch attract too many foreigners.

You already have mentioned that you cannot expect a capital gain. So, just curious....

Welcome to BP.

Funny, I am a Japanese, living in Japan but investing in the US real estate market. Anyway, may be we can get together in Tokyo to exchange information sometime.

Cheers!

Welcome to the BP.

I own two properties (buy-and-hold) in Dekalb county as well (Decatur and Stone Mountain). Hope we have a chance to work together in the future.

Joel,

Thanks for your comments.

>This property management company knows they are padding.Why else would they put a clause if you cancel you pay all of this money??

Yes, after this experience, every time I see this clause requiring a landlord to pay the remaining lease term if he fires a pm, I would not hire that pm. That would just raise a red flag for me.

That property is located in the older part of Decatur. Joel, which area you are focusing?

Obviously, it was a dumb mistake for me to sign the agreement as is.

As much as I want to cut a tie with this group now, I do not think it is financially a smart decision to cut my losses and give up $800 or so.

Since I set $100 as a max amount that pm can do repair works without my prior approval, I probably will reject their request for repair as much as possible (except for emergency) and wait for the end of agreement before firing this unscrupulous pm.

I am an out-of-town investor so self-managing a property is not an option for me.

I bought a "turn key" property, where they bought a property at auction, rehab and placed a tenant so I as an out-of-town" investor was not supposed to do do anything.

But with numerous repair expenses eating up my cash flow, I started thinking that may be this "turn key" solution idea is not so great for me.