Chosen by Bank as Receiver – October 2011

Several times over the last 10 years, I have been a court appointed receiver.  A receiver is hired to be the property manager while a court case is being decided.  Several cases resulted from family members having a dispute  over a property (usually one member of the family is managing the property and not paying the other members)  and I rented out apartments, extened a commercial lease, paid past due bills and started distributing money to the partners.

In another case, a condominium developer went bust and the lender hired us to do punch list items, sell units and help set up the board of directors.  This time, a commercial real estate investor bought a property at a high price, has high vacancies and the bank foreclosed on the property and we are collecting rents from the remaining tenants and leasing out the vacant stores which will preserve and increase its value.

All of these assignments generated work for me in the areas of bookkeeping, maintenance and some brokerage.  All of these opportunities were developed out of financial duress and it is accelerated due to poor economic conditions.  I encourage you to announce your new buseiness to your network of attorneys and bankers ( source of referrals)  and maybe you’ll be in a position to provide these valuable services.

Published on October 24, 2011 in Property Management

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Educated at Cornell University. Trained in the United States Army. Russell Munz has taken resources from both of these experiences to benefit you with the documentation included in the Quick Start Property Manager Program. Read more about Russell…

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