JWB Real Estate Capital

Most Popular Reply

Robert L.
Investor · Jacksonville, FL · Member since 2008 · 70 posts · 37 votes
7y

I can share my first-hand experience. They have a very large organization and manages hundreds of properties. I went ahead and took a chance on having them rent one of my properties and all I can say is to be very careful about having them manage your properties because they will have no qualms hiring service people for everything and, as the owner, you will get charged top dollar for everything. For example, if the lawn is mowed, the price was double the normal amount that I've had the lawn mowed in the history of the property. While it is vacant, they have regular cleaning done every 2 weeks whether you need it or not. I had only one showing and was charged every two weeks, of course. I visited the property and it was spotless...yet I got charged for cleaning on a vacant property that same week. With hundreds of properties in the management, it is a large customer service type of setup so you never talk to the property manager, but rather a client representative only. They do have friendly customer service reps, however.

Also, be aware that the property manager will never actually visit the property to check on it. They told me that this isn't to their best interest and found that it didn't really make a difference so they don't check on property (ever) except maybe a drive-by. Therefore, any calls they get from tenant just goes to a vendor who charges whatever they feel like--pretty easy managing...just answer the phone then farm out the work and charge the owner.  They are too big to pay your property much attention or try to save you money so everything is just hired out to vendors who charge top dollar.

So just be careful that your costs are totally out of your control. Also, as an owner, you are not allowed to do anything to help save yourself money...you cannot hire anyone cheaper or do anything yourself. I've never been charged so much money ever by a property management company.

One good thing is that they were able to find a tenant who signed a lease for 3 years, so we'll see how that goes.

5Reply
See this reply in the discussion

57 Replies

Jump to latestLatest
  • Gregg CohenBusiness Member
    Rental Property Investor · Jacksonville, FL · Member since 2011 · 143 posts · 136 votes
    6y

    Hi @Charles Hirst, I appreciate you sharing your experience with JWB. I'm one of the owners and I can help clear up a few things. We do allow clients to see inventory in a number of different ways. Anyone can go to our website and request to "view properties" and you'll instantly get the opportunity to view 3. These also come on an excel document that you can use as your own rental property ROI calculator. These properties were just recently sold and are very representative of the types of assets our clients can purchase here in Jacksonville.

    I also host a few weekly segments where I breakdown a new JWB property of the week.  This property is currently available.  I host a weekly show on Thursdays at 12:30pm ET where everyone can view the property and ask any questions as I break it down live on the call.  

    In addition, I do a facebook live segment every Friday in our facebook group where I highlight the property of the week as well.  In fact, I just jumped off when I read your forum post.

    I'm not sure if you were aware of these forums but I just wanted you to know there are a number of ways to view available inventory.  If you'd like to chat privately, I'd be happy to get you connected to the show and our facebook group. 

    As far as the lender goes, you are correct that we do require all clients to use a lender in our approved network.  If you'd like to share the name of your lender, we'd be happy to let you know if they are on our approved list.  We don't publish our list of approved lenders as we make adjustments within the lender network based on current interest rates, terms, lead volume and loan volume.  We're only going to connect you with a lender who is going to have the lowest rates and is going to have the bandwith in order to keep a high level of customer service.  Vetting lenders is no fun and we have done a lot of the heavy lifting for you. 

    We do not require that you are pre-approved with a lender to view inventory.  We make an initial introduction to you after our first phone call and ask that you get on the phone with the lender in the coming days for a verbal pre-approval.  We do not require that they run your credit score or compile your financial documents at that time.  And, of course, we move forward with a client demo and we review inventory with you before you necessarily have that conversation with the lender.   Of course, before we get to property selection, we do require that you have that lender conversation as it isn't in anyone's best interest to go under contract if the financing isn't a possibility. 

    The last thing we would want you to do is to feel that you are being kept in the dark regarding your options.  I'm sorry if you felt that way and we'd love the opportunity to work with you again.

    904-677-6777
    Gregg Cohen, Not Your Avg Investor Show4.5237 Reviews
    WebsiteView Page
    0Reply
  • Pantelis Mendonis
    Member since 2020 · 1 post · 0 votes
    6y

    I have purchased 4 turn key investment properties with JWB. They are a great company and very well put together and efficient in all that they do. I highly recommend them!

    0Reply
  • Ilan Malyanker
    Member since 2020 · 1 post · 0 votes
    6y

    I'm with JWB only for few months, but I'v worked with other property managers. There's no comparison. Their level of service is very impressive and promising. Their response time is unmatched, and I also like the personal approach.

    It's soon to recommend, but it looks good so far

    0Reply
  • Jack Zierolf
    Member since 2021 · 2 posts · 0 votes
    5y

    @Pantelis Mendonis
    @Ilan Malyanker

    Wondering if you could please update us on your progress with JWB! Thanks and hope all is well.

    0Reply
  • Jack Zierolf
    Member since 2021 · 2 posts · 0 votes
    5y

    @Pantelis Mendonis I don't think I linked properly above. Trying again, thanks!

    0Reply
  • David Shapira
    New to Real Estate · Brookline, MA · Member since 2019 · 26 posts · 15 votes
    5y

    @Gregg Cohen would I be able to view the weekly segments/shows that you host? I'm impressed with the positive reviews you are receiving here and would like to learn more. Thanks!

    0Reply
  • Gregg CohenBusiness Member
    Rental Property Investor · Jacksonville, FL · Member since 2011 · 143 posts · 136 votes
    5y

    Hi @David Shapira - Yes, we'd love to have you watch the show.  It's called The Not Your Average Investor Show and we do it live every Tuesday and Thursday at 12:30pm ET.  You can register to watch the show for free by going to www.jwbshow.com.

    Once you register once, you'll receive links for all future shows. 

    You can watch past episodes at www.nyais.com.

    See you there!

    904-677-6777
    Gregg Cohen, Not Your Avg Investor Show4.5237 Reviews
    WebsiteView Page
    2Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free