Management Companies: Homeowners must demand full transparency
A friend connected me to a landlord who lives in Ramat Gan and purchased an apartment in New Haven from a company that now manages the property for him.
The connection was made because a landlord (who was not in New Haven alive) saw that each year his yield was eroded. From 9.5% today is already at 7%.
I received the quarterly reports he received from the management company and I began to dig: some unusual electricity bills (one month $ 40, one month after $ 250?), A CPA that charges $ 1,250 .. A bit suspicious but not terrible.
Then I entered the city's website and found that the January taxes had not yet been paid, there was interest in arrears and lien on the property.
I wrote in response to the post here about the management companies: homeowners must demand full transparency (receive mail, bills and receipts for every cent) and most importantly, know (!) How much each screw costs.
And on the way: Never buy a house from someone who markets his merchandise only to Israelis and not to locals. You will find yourself paying well above the market price.
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
The exception that teaches the rule….
Unfortunately, it is true in many cases, but there are positive cases
Unfortunately, it is true in many cases, but there are positive cases
Since I know the excellent New Haven, let me assume that probably when he bought the property is already complete 30% -50% above its value !!!!!!
Tell me the address of the property and the year of purchase and you will probably be surprised by the truth.
It's the thing that keeps on hurting: what you do to innocent people in Israel who have saved a penny for decades and one day they discover that "paper suffers everything."
Since I know the excellent New Haven, let me assume that probably when he bought the property is already complete 30% -50% above its value !!!!!!
Tell me the address of the property and the year of purchase and you will probably be surprised by the truth.
It's the thing that keeps on hurting: what you do to innocent people in Israel who have saved a penny for decades and one day they discover that "paper suffers everything."