JWB opinion or experience

19 Replies

Hello Members,

Resident of Virginia. Looking to consider JWB to invest in Florida real estate market. More interested in newly built properties that will appreciate well if I need to sell in 5-6 years.  Anyone has any experience with them. Few posts I found mentioned that the numbers are not tempting. I heard one of their interviews in which the CEO said that the lower taxes make up for the less than 1% ratio.

Also been listening to real wealth network Florida podcasts. Any advice?

Thanks

Mon

Mon, I purchased a newbuild property a year ago and have been vary happy with the service and quality of the construction and organization. The numbers are the numbers, which can be researched to see if any property works for you. They sign longer leases and with a newbuild hopefully you can see some upside with maintenance and vacancy (I have had neither in a year but obviously too small of a sample size to definitively say that is the norm) and in my view appreciation is always welcomed but never expected. Hope this helps.

Run away. Run away as fast as you can. Tenants moved out during lease and rental was vacant for three months. Also, they way undervalued my real estate taxes, and now, the rent just barely covers my mortgage. With a turnkey company, you should be collecting rent money as soon as you own the home, you don't with JWB. I am using Saint John's Properties and Lenger Financials. Much happier. 

Originally posted by @Rebecca K. :

Run away. Run away as fast as you can. Tenants moved out during lease and rental was vacant for three months. Also, they way undervalued my real estate taxes, and now, the rent just barely covers my mortgage. With a turnkey company, you should be collecting rent money as soon as you own the home, you don't with JWB. I am using Saint John's Properties and Lenger Financials. Much happier. 

 Does Rebecca or anyone else care to update their experience with JWB into 2020?

Originally posted by @Eric Ashby :

Mon, I purchased a newbuild property a year ago and have been vary happy with the service and quality of the construction and organization. The numbers are the numbers, which can be researched to see if any property works for you. They sign longer leases and with a newbuild hopefully you can see some upside with maintenance and vacancy (I have had neither in a year but obviously too small of a sample size to definitively say that is the norm) and in my view appreciation is always welcomed but never expected. Hope this helps.

 Update for us?

Please refer to this post:

"I just got off the phone with Gregg, and am feeling much better. I regret my earlier post and wished I would have waited. I am a beginning investor and didn't look at my overall return in investment or remember that vacancy and maintenance are accounted for in ROI. I am reminded of when I began the purchasing process and how I was uncomfortable with a certain situation, and how Mike walked me through the process and spent time clarifying things, making sure I understood. There was no rushing. Having a tenant move out a few months into the lease is unfortunate, uncomfortable, but is also a possibility. I am hopeful for the future with JWB, am appreciative of the time Gregg and Courtney have spent communicating things for me, and feel like they want to develop long-lasting relationships with their clients."

In addition, I have started picking up the phone more and having conversations with Rachelle (from JWB) when she calls. This allows me to know that JWB has collected rent if JWB is waiting on remaining payments, any outstanding maintenance issues or simply saying there aren't any, as well as updating me on upcoming lease renewals. This communication has given me greater peace with the process.

I am still calculating an ROI and will post when I finish. I wanted to add that during a time when my properties had recently transferred from JWB to another property management team, I began receiving calls from investors wanting to purchase one of my properties because it appeared vacant. I called JWB and Lauren advised me to call the utility company to see if service had been disconnected. It had been. When I called the other property management team, they hadn't collected rent in over a month and hadn't verified or discovered that the property was vacant. I am truly grateful to Lauren and JWB for this. They truly offer value that isn't even advertised. Thank you.

@Rebecca K. - Thanks so much for the update.  We're grateful to have you as a client again!  Investing in rental properties is a learning process and it is great that you have been authentic and transparent.  I'm glad you tested the waters out there in regards to other property management companies and came to your own conclusion that JWB's value is beyond what we advertise!  

I have been working with JWB for 2 years now and the experience has wonderful.  I have purchased 2 new builds through JWB and the customer service and attention to detail is exceptional.  I live in Southern CA but wanted to invest in Florida and this was everything I would expect and more from a hands-off turnkey investment.  Highly recommend giving JWB a look for turkey investments in Jacksonville.  

I am currently a client of theirs for past 6 years and have had positive experience with them. jWB is reputable in this area and have properties to suit most if not all of your specifications. They are prompt and take care of requests in a timely manner. Very professional and courteous. I recommend them. 

I've been a client of JWB Capital for two years.  And I couldn't be happier.  These guys are true professionals in everything they do and customer service is their #1 priority.  I respect the fact that they stay in their lane.  They are not property managers all over the country or even all over the Florida.  Jacksonville is where they have plant their flag and as such, they know all aspects of the Jacksonville market.  Can you make higher returns by rehabbing a beaten up single family house & then renting it all by yourself?  Absolutely.  And if that's your cup of tea - have at it - there's no right or wrong way.  But as an out of state investor - I have absolutely no interest in rehabbing and renting single family homes on my own.  The PM fee that I have to pay them every month makes me sleep very well at night and worth every penny b/c they take on the risk of taking care of EVERYTHING (sourcing, rehabbing, tenant bkgrd checks, marketing, renting, etc....).  For me - it's been a great win-win relationship.  Highly recommend 

I am with JWB since  2014. At the beginning, I was unlucky because I had more repairs and vacancies than expected, but now, I have several houses and things are running smoothly. More than that, I am specially satified by the way JWB handles things.

Unfortunately, I had a fire in one property last year with a lot of damage. Being in France, I was rather anxious about the outcome and the potential paper work to be done. In fact JWB took care of everything ; they contacted the insurance and managed to have me covered fast. Furthermore they took care of the rehab. at a cost less of what I got from the insurance.

So I clearly recommand JWB

Mon,

I am a real estate investor, living in California, who is building a passive income portfolio. Cody Lewin, an awesome Portfolio Manager, is helping me navigate the intricacies of purchasing houses in another state on the other side of the country.

I am in the process of buying two newly-built properties in Jacksonville. In my opinion, the numbers work for my passive investment goals and JWB's core values and management style resonate with me. JWB has high ethical standards and strong core values and they treat the owners and tenants with whom they interact with warmth and professionalism. Core value #8 is to under-promise and over-deliver and Cody has consistently done that for me. He has shepherded me through the closing process and has explained how JWB plans to manage my properties. JWB is pet-friendly, which is important to me, and they are buying and rehabilitating older houses or building new houses in many communities, which improves the community and improves the lives of the people that are able to rent these homes. I am only starting out on this new path, but JWB has definitely made it easier for me.

I started investing with JWB back in 2016.  I was new to working with a property manager as I always managed my own since 1991.  I now realize what a big mistake I was making.  JWB has make it so easy that we've now built a substantial portfolio of properties in Jacksonville that JWB manages for us.

I couldn't be happier with JWB and my Portfolio Manager, Ashley Hatten. 

I am new to the RE investment arena and just purchased 2 properties with JWB and 1 in another market from another "TKP". I have to say my experience with JWB was seamless. Ashely was fantastic....clear, transparent and most importantly she followed through (this is where most drop the ball). My experience in comparison to the "other" turn key provider was night and day. I have long term leases and rent is already coming in. I highly recommend them!

@Andrey Y.

I recently changed management teams and am very happy. JWB is a very my way or the highway kind of team. This is not bad or good, just how they operate and as an experienced investor working with multiple PMs across several states and also self managing for years they stood out to me as unwilling to listen and always ready to explain. With multiple layers of management/departments you get their answer and that is that. That said they were the largest PM company I was working with so this is not full unexpected. All that said after another turn and a relatively lengthy marketing time I decided it was no longer right for me and have moved on. Time will tell how this works out but for now I feel like this was a good move for me personally.

Thank you to all of the clients who shared their experience.

@Eric Ashby - Thanks for updating the thread with your real-world experience.  I'm sorry it couldn't work out for us but wish you the best in the future.  We do rely a lot on our experience and systems in order to maximize the return on investment for a client but we would never want to come across as though we aren't willing to listen to our clients.  Sorry if that is how it landed on you.