Investor · Jacksonville, FL · Member since 2008 · 70 posts · 37 votes
7y
Whatever you do, do not hire them for property management. I made the mistake and it has cost me and arm and a leg with fees and charges. I've never seen so many unnecessary charges in my life! Contact me for details.
Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes
10y
Full Disclosure: In many ways I am a direct competitor.
JWB is certainly legit. They've done a good job of building up their business in Jax and they capitalized on a hot market. They were also at the forefront of a national trend to build new SFH for rent. Check out WSJ for an article about them a few years back.
As a turnkey I imagine they are trustworthy and reliable. But one complaint I've heard is their deals aren't that great for our market. If that's true it makes sense...they have the capital to keep the best deals for themselves.
hi BP, anyone have experience with JWB real estate Capitol out of Jacksonville FL?
Hey Rodney,
I operate in the capacity of a wholesaler here in Jacksonville,Fl and i've sold JWB several wholesale deals this year and all the rehab work they've done have been of great quality.
Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes
10y
I am guessing they are pretty legit based off the investor loans and the volume of properties they are working, from what I have seen. They have been working with one of the big crowdfunding sites to get assistance with short term financing. I can tell you the overall deal is millions of dollars. I am investing in it and haven't had any concerns. Payments have been made on time.
Cambria Heights, NY · Member since 2015 · 34 posts · 2 votes
10y
Thank you guys for the input. I am from queens NYC. I am a city employee with NYC MTA for the past 19 yrs. I retire in 2021. Six yrs from now. I am also in the Air Force reserves (currently deployed in the Middle East... Will be home Feb 2016) I retire from the military in 2018. Three yrs from now. I am about to engage in an aggressive REI endeavor.
I am a newlywed of 2 1/2 yrs. this is my 2nd marriage. My wife doesn't have children so I will be starting over raising a 2nd family... Just as I am about to retire... :-) My goal is income replacement. If I can amass $4500 net monthly passive income, I would be elated...!!!
Investor · Jacksonville, FL · Member since 2015 · 76 posts · 22 votes
10y
Yes I JWB is a very good company. Their model has changed over the last 3-5 years and they are basically collecting a large number of homes that they own with investors getting monthly dividends then they plan to sell the block of homes to a large hedge fund like company. At least that was the plan last I spoke with them. Overall they are a good company and do a good job. You do need a good amount of money to start out with them, I think it was $50k but Its been 2 years since I have spoken with them.
Investor · Jacksonville, FL · Member since 2015 · 76 posts · 22 votes
10y
Hi Rodney, I am a member of JaxREI its ok, thats about it. There are about 100 people or more in the group nice people but I think 3/4 of the meeting is spent with "guest speaker" who is a get rich quick scam program. I have walked out of 2 meetings in the middle because I could not take it any longer.
Investor · Jacksonville, FL · Member since 2015 · 504 posts · 217 votes
8y
it is my fault. I brought a land deal to them that I was getting under contract and had an email acceptance and they swooped in and took it ahead of me. But its totally my fault. I spoke too soon. It was my 1st investment as a full timer after retiring my w2. Just a newbie full timer but part time investor since the 90s. I guess thats why they have 1000s of properties. I suppose thats what I get for saying I had a property under contract when my contract though agreed upon in prior email was being drafted still. My seller backed out and accidentally sent me the jwb contract for the same property. I learned a good lesson early in my full time post retirement investing career. JWB offered to buy it from me but I said I would get back after the Holiday. It was not 24 hours later my seller cancelled and accidentally sent me the jwb contract. All my fault and a great lesson to keep my mouth shut til my official contract is signed, not just an email acceptance of terms.
Investor · Jacksonville, FL · Member since 2008 · 70 posts · 37 votes
7y
Whatever you do, do not hire them for property management. I made the mistake and it has cost me and arm and a leg with fees and charges. I've never seen so many unnecessary charges in my life! Contact me for details.
Thank you guys for the input. I am from queens NYC. I am a city employee with NYC MTA for the past 19 yrs. I retire in 2021. Six yrs from now. I am also in the Air Force reserves (currently deployed in the Middle East... Will be home Feb 2016) I retire from the military in 2018. Three yrs from now. I am about to engage in an aggressive REI endeavor.
I am a newlywed of 2 1/2 yrs. this is my 2nd marriage. My wife doesn't have children so I will be starting over raising a 2nd family... Just as I am about to retire... :-) My goal is income replacement. If I can amass $4500 net monthly passive income, I would be elated...!!!
Investor · New York City, NY · Member since 2016 · 8 posts · 2 votes
6y
I have 2 properties with JWB. One from 2016 and one from 2019. I don't really have any complaints about them. They've been great. The property management is top notch and their client service is phenomenal. The other posters are correct in that their purchase prices are going to be on the higher end. I think they are a great fit for out of town investors who want minimal time involvement and are happy with a decent return (they've beaten their pro forma's with my 2 properties for what that's worth). They are not a good fit if you are looking for instant equity and are willing to put in the work to source your own deals.
Thank you for the input. Can you please let me know if there is any negotiation on the pricing as the offered prices are on high end? Do they manage properties if not bought through/form them?
Investor · New York City, NY · Member since 2016 · 8 posts · 2 votes
6y
There is no negotiation on price. Also, they only manage properties they sell. It is part of the package, so it’s not for people who are willing to find properties themselves to get instant equity. They are very popular with their investors including myself and they have very limited inventory currently.