EDI Real Estate has been a JMAX client since 2016. When the investment company came to us with a neglected, underperforming portfolio, we knew how to help.
EDI Real Estate was in a good position to buy investment properties. Over a matter of a few years, the company systematically put together a multiple-property portfolio for long-term investment.
However, without dedicated oversight, there showed to be poor management of these properties. They were in rough shape and the majority were vacant. The ones that were occupied were behind on rent.
The original goal of making these properties a “good long-term investment” was a far cry from the current status of the portfolio. The company was losing money monthly and the properties were quickly deteriorating.
Through a recommendation from their real estate agent, EDI Real Estate found JMAX Property Management. We at JMAX took over full operational responsibility for all of their properties. “They were very honest about the work that could be done in-house versus the large-scale projects that needed to be outsourced,” said Alea Kleinhammer, a spokesperson for EDI Real Estate.
Our team sorted through each and every property to determine optimal profitability. We also set up a structured action plan that set a goal of success for each property. They were straight forward with us every step of the way and were always advocating for us. They were incredibly thoughtful about controlling costs and took a huge burden off of our shoulders.”
“[JMAX] was very honest about the work that could be done in house versus the large scale projects that needed to be outsourced. They were straight forward with us every step of the way and were always advocating for us. They were incredibly thoughtful about controlling costs and took a huge burden off of our shoulders.” Alea Kleinhammer- EDI Real Estate
Client since: 2016
Assets Under Management: $730,000
Average Portfolio return: 6%
The portfolio is now at its best and JMAX continues to optimize the financial opportunities of each property. Sometimes this means selling a property – which JMAX has also coordinated. “What kind of property manager would recommend a course of action that would hit their bottom line? This just proves that JMAX truly cares about what is best for the client,” says Kleinhammer.
Overall, the portfolio continues to see only routine vacancies and low operating costs. JMAX has essentially put the portfolio on auto-pilot – removing all operational burdens from the owners.