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Big Fat Real Estate Checks

Ep42: What To Do When Your Property Manager Loses Their Mind? - Marco Kozlowski

Big Fat Real Estate Checks

Marco Kozlowski

How To, Education, Realestate, Business, Investing

5 • 957 Ratings

🗓️ 10 December 2020

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As a real estate investor, having a great property manager is the most important asset we can have. But sometimes uncontrollable problems may occur and we have to deal with it as fast as we can. No real estate investor wants that cash flow go down, so it's crucial to learn and handle the situation properly.

In this episode Marco, Frank and Gabriel discuss some tips and strategies on how to deal with a bad property manager.

WHAT YOU’LL LEARN FROM THIS EPISODE

  • You have to follow the process and make sure you have the tenant’s contact information.
  • Things you can do to deal with absentee property manager:
    1. Send an inspector
    2. Process server and residency check
    3. Send a private investigator
    4. Get another local property manager in the area
  • You can also call three local property management companies and say you are in the middle of shifting your focus and you want to find another property management team.
  • Know your process and daily operations. Create a procedure manual to have something in place in case your property manager disappears.
  • Reasons why you're having problems with your property manager:
    1. Process wasn't followed when hiring a manager
    2. There no constant communication with the property manager

RESOURCES FROM THIS EPISODE

Click here for the free quick start course "Get Deals By Tuesday" Masterclass.

CONNECT WITH MARCO KOZLOWSKI:

CONNECT WITH GABRIEL ARAISH:

Transcript

Click on a timestamp to play from that location

0:00.0

All sorts of crap happens and they're terrible, but having processes around these kinds of things are very important, then you're ready.

0:08.0

Because if you're afraid of nothing, you can do anything.

0:11.0

And many people don't get into something because of fear of what might happen and maybe

0:16.9

I'm going to get COVID, maybe this is going to happen.

0:19.2

And if you're paralyzed by that fear, nothing will happen in your life and you'll be exactly where you are if not

0:26.0

even worse.

0:27.0

Welcome to the big fat real estate checks podcast with Marco Kuzlowski where we help investors like you get the

0:35.9

knowledge and skills you need to replace your J-O-B with passive cash flow for life.

0:43.2

Everyone welcome back to big fat real estate checks.

0:46.9

I am the host Marco Kazlowski.

0:49.2

I'm excited to share with you've

0:55.0

have to do when a manager goes awry, being proactive and reactive.

0:58.2

Hopefully you've listened to the last episode,

1:00.6

and also, of course, if you love this series please leave a comment give us a great

1:06.4

review and share this with your community we want to help as many humans as

1:11.2

possible achieve financial independence using cash flow real estate as the vehicle.

1:16.0

And if you do this correctly, you only need knowledge, you don't need money or credit to buy as many cash flowing assets as possible to not only supplement and replace but

1:25.6

surpass the current income that you have.

1:28.3

And all three of us have accomplished that over the last many years.

1:31.2

Been doing this for two decades and a little bit more and I'm

1:34.4

joined today with Gabriel Aireish from Montreal and Frank Galuchio from

1:39.2

Toronto. And today we're going to do the second episode, the second step of what to do when your manager is losing their mind.

...

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