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

Comments are closed.

Latest Posts
Categories
Archives
Latest Blog Posts
Why Reinvent the Wheel?

If you are looking to start a management business in preparation for the next business down cycle (recession) you came to the right place.  The reason I wrote this book and created this companion website with downloadable forms was a direct result of construction, architects and realtors that wanted to have a recurring income stream.  […]

Want To Be a Property Manager But Don’t Like Accounting? We Have You Covered

People get into property management for many reasons.  There is the recurring income, for some it is working with people, for others it is the ability to get out of the office and help onsite.  But the hang up for some is they don’t like accounting, so what are you to do?   When starting […]

Recession Proof Your Life

The average business cycle is 61 months long going back to 1950.  We are much farther along at 106 months we are in the 2nd longest business recovery in US history.  When recessions come along real estate sales drop and construction activity drops along with related professions and the general economy.  One thing that doesn’t […]

Read the Blog

About the author

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…

Why this Property Managment Program?

This is a step-by-step guide to becoming a property manager. It walks you through your first 30 days, provides you with checklists, forms, and templates and most of all, shows you how to find clients so you can start earning money fast!

Take a closer look: Front cover | Table of contents | Introduction | Back cover

© 2019 Quick Start Property Manager Program.