Anyone know anything about realnet?

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Ken Mitchell

Real Estate Broker · charlotte, NC

99 posts
50 influence

Jan 10 '08, 01:32 AM

it's the typical " make money in real estate" gig. it's strictly a numbers game and i would call it " analytical investing" - buy for x, invest y sell for z. nothing intuitive, revolutionary or creative. their model worked well when the market was moving quickly but who's didn't. their business model is geared for the rookie but the money you spend paying them combined with your inexperience can make profits slim in a tight market.

check out Investors Mortgage Lending, their sister company for some interesting hard money programs. Decent rates, flexible programs, hard money by the numbers...if it doesn't appraise or inspect well, they won't lend on it...

Edited: 06/26/2010 at 04:30AM

Adam Blake

Residential Real Estate Broker · Fort Worth, TX

13 posts
1 award
50 influence

Jan 22 '08, 07:59 AM

I recently did a deal with real net in Dallas.. they are a group of wholesalers. They get houses under contract and either do a double close or assignment of contract. I get several e-mails each week on different deals from a real net sales guy. Be careful about the ARV they say each house has.. i typically find these very inflated. They also tend to under estimate the required repairs.

The deal I did with them turned out great for me and the sales guy was very helpful. However, the title company they share an office with was probably the worst title company i have ever dealt with.

Overall, I would consider them a legitimate company. I was hesitant at first but would do a deal with them again.

Edited: 06/26/2010 at 04:34AM

Dustin Wise

Real Estate Agent · Buena Park, California

42 posts
1 award
50 influence

Feb 22 '08, 03:09 AM

Originally posted by "AdamBlake"

I recently did a deal with real net in Dallas.. they are a group of wholesalers. They get houses under contract and either do a double close or assignment of contract. I get several e-mails each week on different deals from a real net sales guy. Be careful about the ARV they say each house has.. i typically find these very inflated. They also tend to under estimate the required repairs.

The deal I did with them turned out great for me and the sales guy was very helpful. However, the title company they share an office with was probably the worst title company i have ever dealt with.

Overall, I would consider them a legitimate company. I was hesitant at first but would do a deal with them again.

That's good to know. I was going to post a question about Realnet and then I saw this thread. I've been hesitant about their ARV's and rehab costs. I guess we always have to do our own due dilligence.

I like the agent from Realnet that I've been working with and he's the first one to say make sure you talk to your contractor about the rehab budget and find your own comps. Afterall, it's my money, my risk and my neck on the line.

I'm glad to hear that overall you think they are legit and your experience was good. I don't really care for the fact that they pass on the closing costs to the investor but for now it will have to do. Thanks again for posting!

Edited: 06/26/2010 at 04:44AM

Mark A.

Real Estate Investor · Orlando, Florida

149 posts
2 awards
50 influence

Apr 19 '08, 09:27 PM

I get their available property list all the time here in the Orlando area.
First, most of it is in erm, let's just say not very desirable areas at all AND their ARV's are normally way out of whack.
IMO, not very good deals whatsoever, especially if you need to borrow the money.

Edited: 06/26/2010 at 05:04AM