Accredited Income Property Investment Specialist (AIPIS)

Russ O'Hare has been experiencing problems with Results Property Management in Kansas City, Missouri. He is one of the home owners at Creekside Village and has a number of complaints and allegations over the way the firm has been managing the properties. He shares his story to Jason Hartman. 


Key Takeaways:

[3:50] Russ was first told that it was Curry Real Estate managing the properties, not Results. 

[8:15] Metrowide Building invoices has the same address as Results. Are they owned by the same people? 

[10:25] $2,500 was charged to the HOA for trimming trees and bushes for less than 8 hours of work. 

[16:18] Russ's wife made copies of invoices when they requested to see the books. 

[20:05] It seems the investor Isaac Bencuya and Results have some kind of arrangement with each other. 

[25:20] The club house, pool, and one of Isaac's apartment buildings run on one electric meter and that bill goes to the HOA. 

[27:15] Isaac setup a proposal for the home owners to basically give him the pool and club house. 

[30:15] Dave Zeller, Isaac Bencuyz, and Quentin Kearney said they had no affiliation with Nick Porto when Nick was representing the HOA. 

[40:05] During this proposal, Dave Zeller's attorney fees were charged to the HOA and not out of Isaac's pocket. 


Mentioned In This Episode:


Quentin Kearney – Results Property Management. 

Direct download: AIPIS_84_Russ_O27Hare.mp3
Category:general -- posted at: 4:59pm EDT

Jason has received a number of complaints about Quentin Kearney and Results Property Management. He interviews Bobbie O'Hare to get the inside scoop of what's really going on. Bobbie has been looking directly at the Results Property Management books and has noticed a number of vague invoices. She is also having a hard time getting direct answers from the management company, which is delaying her investigation even further. 


Key Takeaways:

[2:05] There are lots of clients coming to Jason with complaints about Results Property Management. 

[5:00] Results Real Estate invoices were incredibly vague and non-descriptive. 

[6:35] The company could not provide Jason with simple receipt copies from the vendor and did not know who the vendor was who did the work. 

[15:05] Bobbie thinks the company is charging higher HOA fees and homeowners are unknowingly subsidizing the apartment fees. 

[29:15] What other discrepancies did Bobbie find during her investigation? 

[37:35] All of the invoices Bobbie received looked wrong. 

[40:40] Bobbie can't talk to her own management company anymore, because they know she's building a case against them. 

[47:00] Results has been known to intimate other management companies so that they stay away. 

[50:55] Bobbie is trying to combine a number of cases against Results to make the case even stronger. 


Mentioned In This Episode:


Quentin Kearney - Results Property Management. 

Direct download: AIPIS208320Bobbie20O27Hare.mp3
Category:general -- posted at: 2:53pm EDT

Abby Shemesh of Amerinote Xchange has overseen countless of buy and sell transactions in the mortgage note business. Abby talks to Jason on why purchasing mortgage notes is the best thing next to generating yield, key mistakes to avoid, and the importance of getting a third party property appraiser. 


Key Takeaways:

[2:00] San Francisco’s real estate is becoming a big bubble.  

[7:15] Banks are being too strict in lending money to potential investors. 

[10:10] Do your due diligence when buying notes. 

[14:45] Don't ever go with a recommend appraiser by the seller, burrower, or broker. 

[16:40] Get an attorney and consult your accountant before you purchase a note. 

[18:00] Selling notes are not for everybody. You still have other options. 

[20:15] There's still no software for to accurately calculate note prices. 

[22:30] Make sure the company you're dealing with has an internet presence and get them on the phone.  


Mentioned In This Episode:

Direct download: AIPIS208220Abby20Shemesh.mp3
Category:general -- posted at: 5:50pm EDT

Lance Edwards is the president of First Cornerstone Group and the author of How to Make Money in Small Apartments. He talks to Jason on the ways you can find great deals, why you should always have a management company, and much more on today's show. 


Key Takeaways:

[1:50] Why are small apartments so great? 

[6:50] Lance explains how the market cap rate for the metro area can indicate if it's going to be a good cash flow market or not. 

[10:45] How do you find a good management company? 

[15:20] Lance explains how you can find a good list of potential sellers.   

[18:25] Lance offers three price options for sellers. 

[25:30] – For Jason's listeners, Lance is giving his book away for free. 


Mentioned In This Episode:

Direct download: AIPIS208120Lance20Edwards.mp3
Category:Educational Podcast -- posted at: 2:55pm EDT