Jean Gillen / Gillen and Associates - Florida

Buying & Selling Real Estate
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Jean Gillen / Gillen and Associates - Florida

James Martin
Metairie, LA · Member since 2016 · 67 posts · 41 votes

Does anyone have experience with Gillen and Associates?  I believe they are a turnkey outfit in Florida.

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Manraj Singh
New to Real Estate · San Diego · Member since 2019 · 45 posts · 12 votes
7y

Hi James, 

I did a quick estimate on Gillen & associates properties - screenshots attached. Let me know what you think? did you get a chance to look at some of their numbers?

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  • Manraj Singh
    New to Real Estate · San Diego · Member since 2019 · 45 posts · 12 votes
    7y

    Hi James, I had a look at their properties and customer presentation but nothing more. 
    are you considering Jean Gillen for a Florida Turnkey? if so, how has your experience been so far?

    0Reply
  • James Martin
    OP
    Metairie, LA · Member since 2016 · 67 posts · 41 votes
    7y

    I looked at the materials that they distributed after hearing them on a podcast.  I was interested in using them for some FLA turnkey.  I haven't been able to get any references for them.  The only negative I can say is that their materials were dated and had some typos in it.  A small thing, but when you are trying to figure out if you can trust someone with your money, everything matters I guess.

    0Reply
  • Manraj Singh
    New to Real Estate · San Diego · Member since 2019 · 45 posts · 12 votes
    7y

    Hi James, 

    I did a quick estimate on Gillen & associates properties - screenshots attached. Let me know what you think? did you get a chance to look at some of their numbers?

    2Reply
  • Don SpaffordPro Member
    Investor · Idaho Falls, ID · Member since 2016 · 935 posts · 629 votes
    6y

    @James Martin Did you ever invest with them? I too am considering one of their properties. The numbers look pretty good but they also seem to be a bit unorganized. They sent me an email describing one property but the attachments and links were for a different one. Also, if you or anyone else has purchased with them, did your appraisal come out around where they say the market value is? They of course offer a discounted price for investors since they plan to manage them as well but I'm wondering where the appraisal comes in at and if it truly reflects a discount to get some built in equity.

    0Reply
  • James Martin
    OP
    Metairie, LA · Member since 2016 · 67 posts · 41 votes
    6y

    @Don Spafford, I never did.  I just couldn't get any good information on them and I found typos and stuff in their materials and just didn't give me a good feeling.  I would still be open to it.

    0Reply
  • John Shaw
    Member since 2020 · 2 posts · 0 votes
    5y

    I don’t usually post in the forums, but I felt compelled given the experience i had working with Jean. In summer - avoid Jean & her team @ all costs - I purchased multiple homes with her in Florida and have regretted my decision ever since- here's my experience. 

    1. The proforma's that she sent by were completely off. The monthly rent was at least $200-$300 less than what we actually received. And in a market like FL, that usually brings your cash flow to zero (which it did!). And once we purchased the property, it sat vacant for roughly 4-5 months while we paid the mortgage. 

    2. The HOA communities that she sold us ended up raising the HOA fees significantly after the community was built. Sometimes, builders market a lower HOA fee while the community is built out to attract buyers. They'll pay a portion (in this case 3/4ths of the costs) to draw in buyers but after they leave, they no longer financially support the HOA associations. This caused our HOA fees to go from $100 a month to over $300 a month. This is something you expect your agent to know - Jean did not tell us this (likely because she didn't ask or did not know).

    3. The property management her company recommends does not do a good job of managing the property. We've seen vacancies for 3-4 months at a time for these properties and we've had over $10k in damages in multiple homes since we purchased. We also had an eviction within the last year. We own multiple other properties - some in the same market - without issue. All in all - I would stay away from Jean and her company. I have other investors who invest with her who also regret purchasing homes from her.

    0Reply
  • Mark L.
    Member since 2019 · 5 posts · 1 vote
    5y

    The lady can be quite rude and will not do anything further than forwarding your emails if you run into problems after the sales. Because this is real estate, there will be problems...She throws out a lot of data which cannot be reliably verified and will engage in total deniability mode if you hold her accountable for anything she had written or have stated on the phone, emails or her podcasts.   

    1Reply
  • Mark L.
    Member since 2019 · 5 posts · 1 vote
    5y

    I agree with John Shaw, I find that her projections and data have been completely off the marks. FL is a cyclical market and the future appreciation is a projection only. The estimated rents are often inaccurate and their recommended PM is not the best at placing or maintaining tenants. A home can sit for 3-4 months after close and utility/lawn/mortgage bills pile up. 

    0Reply
  • Julie Sisnroy
    Realtor · Papillion, NE · Member since 2013 · 134 posts · 59 votes
    5y

    @John Shaw and @Mark L.  I spoke with them today, and i still feel on the fence, so it is good to see another perspective.  Did you end up going with someone/where else?  Could you share what market you were looking?  Feel free to PM me if you are still active on BP.  Thanks!

    0Reply
  • Account Closed
    Member since 2021 · 1 post · 0 votes
    5y

    I know this company very well, and without disclosing too much information all I can say is she/they only care about their own wallets. Buyer Beware!

    1Reply
  • John M.
    Member since 2022 · 4 posts · 2 votes
    4y

    I can not recommend Jean Gillen with any confidence. She does not communicate or respond well to my emails and requests for additional information. Like a typical salesperson she is a fast talker and when you question her on the information presented she doesn't respond very well. The taxes and HOA fees will likely increase soon after the property is purchased causing you to go to breakeven or even negative cash flow if you cant increase the rents.

    1Reply
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