What’s up, everybody?
I have 6 low-end rentals (4 SFH and 2 MHs) in Etowah County, AL.
- my PM is now charging a 20% fee - I would agree to that for the MHs.
- the SFHs rent for $ 5-600.
- I paid $ 5 k for MHs and $ 10 k for the remodel of 3 of the SFHs as a flat fee, plus actual costs.
Now, I’m having reason to believe that I’m getting suckered, swindled, ripped off. Being out of the country doesn’t help.
Q: How would you conduct some audit to establish a) materials billed were used and b) have someone look into labor billed?
Re a), on an okay 1,000 ft 3 BR SFH, the credit card bills exceed $ 8,500. All from “Lowes”. Re b) the latest project was pretty simple. Painting inside, with me having put the electrician’s and the plumber’s on credit card. This time, labor is “$ 3,000.00”. WTF? I’m very suspicious of such neat rounded amounts. And I cannot see 200+ hours of work, no way!
Q2: Would you pay for some home inspection?
Haven’t gotten any 1099s ever and this is now so bad that the requested accounting was supposedly sent via snail mail while these days $ 100 printers have scanners built in.
Angry and worried,
Chris
601 345 2310