Buying from Holton Wise- poor communication

121 Replies | Cleveland, Ohio

I like the energy of HW. However, they are in to this game to make money, and we newbies sometimes just get in the way!

Sometimes I feel as if we are being treated as just leads for potential deals.

So much seems too good to be true. I am not in Cleveland, and i am not familiar with the area. They do sell the area as a great place. They have the energy. Expecting them to fun your deals is not something I would hold my breath for. There are many like this.

Watch the videos, get the larger picture, and go out and learn by jumping in.

You will make it. Good luck!

Originally posted by @Nicky Reader:
Originally posted by @Chuks Erinne:

@Brad Fausett the time you spent writing this post, you could have made atleast 10 other offers. I don't get the point of this. This is like posting your personal business between you and your girlfriend on the internet. Nobody owes you anything. This post is pointless and a waste of time!

I was entertained!

In fact I might actually pop for Pro membership if it included access to a secret forum where its just curated links to all the duke-em-outs that happen sometimes on here. LOL

 

LOL. You should pop for a Pro membership - it's got some cool stuff - but unfortunately the curated links graveyard isn't one of them. It's kind of like seeing how sausage is made anyway; it's not really all that appetizing!

OP: I think the big lesson in this thread is that it's counterproductive to start threads like this. For starters, it's subjective - you considered the response rude, they did not; you considered your offer good, they did not; ETC. Second, it makes you appear complaintive and unprofessional; I have a pretty modest portfolio compared to the multi-dozens some people here have, and I can tell you I've had a fair number of no response, short response, and even some rude responses. I don't take it personally and just move on, unless I really want the property and then I up my game. Finally, threads such as these really should be reserved for informing BP members on factual wrongdoing or misrepresentation rather than opinions. Not only are those difficult to argue with, they actually do serve a purpose in helping warn BP members of real danger that may be lurking out there - common with gurus, for example, shady wholesalers, and other fringe players. 

Really, the best thing to do is move on from here. And don't let pride stop you from making a profit. I will finish with a story: one time there was a foreclosure that I wanted that had been sitting for a long time (it had terrible cat urine issues). The bank had it advertised for over a year with no movement. I made what I thought was a fair offer - a couple grand below list. The agent that was handling the foreclosure got my offer, and magically the next day called my agent and said there was another offer on the table and they wanted my best and highest, and hinted to my agent that $X would probably get it, which was about 2 grand higher than I offered. I was incensed because they were getting me to bid against myself, because the other offer was either total BS or was a buddy of the agent that they got to go in just to goose me higher. I ranted for a couple hours, swore to my agent I was just going to walk, then got my head in order and made the counter of my offer at that price and got the deal. I hated the agent and swore I'd never work with them again if they had a house I was looking at. 

Since then I've bought 2 more houses from the same agent. Yeah, they got me, but the agent also probably knew the bank wasn't going to sell without getting that extra $2k. In the meantime, I've made about $70k appreciation on that property. You have to take long-term perspective on this stuff. The point (well, at least to me) is to make money. I made $68k on that house instead of the $70k I could have made. Or I could have made nothing because the bank wasn't going to sell to me at that price. 

 

I started reading this just to see what it was about, but dang it! I got sucked it.

Seriously, I like to see people get the opportunity to defend themselves in forums like this where someone shares their perspective on why someone did something wrong and the other person is able to publicly represent themselves on a neutral forum. This gives the accused the same ability to defend as to be accused. I wish this was more the norm rather than the stupid cancel culture that we are living in today where the accuser is now given more clout and support than the one being accused. And the one accused is often not given the same platform to defend but is just expected to apologize and ask forgiveness to the community and the world for anything that they have ever done ever that is not up to today’s hypersensitive standards.

I’m just waiting for the day when I have gotten big enough for people to start trying to roast me on public forums. Thanks @james wise for giving me a model to follow for when it happens.

Originally posted by @Matthew Olszak :
Originally posted by @James Wise:
Originally posted by @Brad Fausett:

Don’t hold your breath on that...  good on you for redacting the document however.   I guess you seen my name was also provided now.  

You should not have posted a financial document with names involved, poor business decision. I’m sure your own personal legal team would agree.  

Moving on, you are not the type of business person I want to engage with,  we won’t be crossing paths again.  Your desire to post confidential private banking information is irresponsible, especially in retailiation of someone voicing their displeasure with your company communication skills.   Anyone who reads this thread in the future will surely feel they are in good hands with info they provide since you were so quick to place it on the Internet over a bad review.  Not to mention your point was to say I used someone else account info as proof of funds when both parties who would have been engaged in the purchase's name were clearly on the document that was drafted specifically for the purchase of this property.

No hard feelings here.  I’m all the wiser as what to expect from your firm after this engagement.



 Bruhhhhhhhhhh.

See that below, that's the purchase agreement with your name and signature on it. You know who's name and signature is not on this purchase agreement? The guy who has the money. You know what else is on there? Contingencies that were not acceptable. 

You can't still be this confused can you? Not possible. Nobody is this clueless. You must be trolling now.

Well to be fair it was a cash offer, just not his cash. I guess we can start calling FHA offers cash as well since that's what's being paid in the end.

When I was a broker, I'd ask my clients if they even want me to bring certain offers to their attention, like owner-financed, or offers below x% of list. 99% would say no, don't bother me with it. You replying to his agent that his offer w/ contingencies was declined, after specifically stating no contingencies would be considered, was going a step above all in of itself versus just deleting the email all-together. Especially with the nonsense "we need to view all units" - which coupled with someone else's POF being provided 100% sounds like someone trying to wholesale an MLS deal where the "partner" comes in and doesn't approve of the condition or whatever.

 lol Always appreciate your candor Matthew. Great take.

Originally posted by @Lynnette E. :
Originally posted by @James Wise:
Originally posted by @James Hamling:

@Brad Fausett I'm gonna give you the biggest help anyone can in this and say stop digging, your on the way to China with that grave. 

Suck it up, eat that ego, own YOUR mistake, apologize to @James Wise and earn back some respect. 

You say if seller wanted ___ sale price they should have stated it... They did, it's called the listing/asking price, that's literally what that number is, by definition. 

All your ranting about redact this and how dare you show that, I will remind that YOU started all this and disclosed things, James Wise has every right to respond to his defense. 

Proof Of Liquidity..... really, seriously, do you actually believe your fooling anyone with this? I get it, fake it till you make it, 100% get it man, but I think your a bit drunk on your own cool-aid when you think you can fool the "Oracle of Ohio". And than doubling, tripling down here on BP. Financed is financed, others persons funds is OTHER PERSONS FUNDS. 

If anything this whole event has just reinforced that when I invest in Ohio, I WILL be doing it via HW, ESPECIALLY when/if selling. 

This has been another episode of "When flaming goes wrong"

In all honesty outside of "put down the shovel" the best advice I think anyone can give to Brad is real estate isn't for you man. If you're this mad that your offer was declined how are you going to handle real problems that pop up when dealing with Cleveland tenants? Your first eviction, first O.D, your first murder, first burst water pipe, first house fire etc......Those are real problems we deal with every day.

Awh, come on!  He was going to hire you as his PM and YOU were going to deal with that...and explain it to him 20 times after you dealt with it! 

 You know what.........You're right! The price has dropped back down to 1 Teddy! But it's gotta be a big Teddy. 

(Hot chick not included, I am happily married with kids)

Originally posted by @Michael P. :

I’m not going to do it, but someone needs to make a “time to turn off the faucet” pun.

 lol Bruhhhhhhhh. For whatever reason all I could picture reading this was the famous landlord / tenant hot water meme.

Originally posted by @JD Martin :
Originally posted by @Nicky Reader:
Originally posted by @Chuks Erinne:

@Brad Fausett the time you spent writing this post, you could have made atleast 10 other offers. I don't get the point of this. This is like posting your personal business between you and your girlfriend on the internet. Nobody owes you anything. This post is pointless and a waste of time!

I was entertained!

In fact I might actually pop for Pro membership if it included access to a secret forum where its just curated links to all the duke-em-outs that happen sometimes on here. LOL

 

LOL. You should pop for a Pro membership - it's got some cool stuff - but unfortunately the curated links graveyard isn't one of them. It's kind of like seeing how sausage is made anyway; it's not really all that appetizing!

OP: I think the big lesson in this thread is that it's counterproductive to start threads like this. For starters, it's subjective - you considered the response rude, they did not; you considered your offer good, they did not; ETC. Second, it makes you appear complaintive and unprofessional; I have a pretty modest portfolio compared to the multi-dozens some people here have, and I can tell you I've had a fair number of no response, short response, and even some rude responses. I don't take it personally and just move on, unless I really want the property and then I up my game. Finally, threads such as these really should be reserved for informing BP members on factual wrongdoing or misrepresentation rather than opinions. Not only are those difficult to argue with, they actually do serve a purpose in helping warn BP members of real danger that may be lurking out there - common with gurus, for example, shady wholesalers, and other fringe players. 

Really, the best thing to do is move on from here. And don't let pride stop you from making a profit. I will finish with a story: one time there was a foreclosure that I wanted that had been sitting for a long time (it had terrible cat urine issues). The bank had it advertised for over a year with no movement. I made what I thought was a fair offer - a couple grand below list. The agent that was handling the foreclosure got my offer, and magically the next day called my agent and said there was another offer on the table and they wanted my best and highest, and hinted to my agent that $X would probably get it, which was about 2 grand higher than I offered. I was incensed because they were getting me to bid against myself, because the other offer was either total BS or was a buddy of the agent that they got to go in just to goose me higher. I ranted for a couple hours, swore to my agent I was just going to walk, then got my head in order and made the counter of my offer at that price and got the deal. I hated the agent and swore I'd never work with them again if they had a house I was looking at. 

Since then I've bought 2 more houses from the same agent. Yeah, they got me, but the agent also probably knew the bank wasn't going to sell without getting that extra $2k. In the meantime, I've made about $70k appreciation on that property. You have to take long-term perspective on this stuff. The point (well, at least to me) is to make money. I made $68k on that house instead of the $70k I could have made. Or I could have made nothing because the bank wasn't going to sell to me at that price. 

 

 Well put JD. You handled your multi offer deal like a true pro.

Originally posted by @Nicky Reader:
Originally posted by @Chuks Erinne:

@Brad Fausett the time you spent writing this post, you could have made atleast 10 other offers. I don't get the point of this. This is like posting your personal business between you and your girlfriend on the internet. Nobody owes you anything. This post is pointless and a waste of time!

I was entertained!

In fact I might actually pop for Pro membership if it included access to a secret forum where its just curated links to all the duke-em-outs that happen sometimes on here. LOL

 

 lol I don't think you and I ever end up in a thread together, unless it's one like this.

When it's one of these, without fail, I always see you in there dropping a comment. I love the consistency.

Originally posted by @Christian Cramer :

If I could publicly roast the agents that sent me below-list price "cash" offers with strange pre approval letters and contingencies on as-is sales I would be so happy. I'm jealous

 Who says you can't? You aren't a waiter at Applebee's. "The customer is always right" is a myth we tell low skilled labor. Hone your craft, market your business appropriately and you can call the shots on how you operate your business.

Originally posted by @Russell Brazil :

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

the 8 hour time frame for response was so very 2009..  LOL..  when i get those I purposely do not respond within the time frame its a power trip LOL..  Also the MF I have brokered  it was common NOT to inspect every unit.. to invasive for the tenants and especially in covid. 

And remember the short sale days of 09 to 2012 taking months to get an answer and right on the listing dont call the listing broker we will call you..  I just stopped offering on those. 

But Hey I have a duplex for sale in Cleveland I would like to sell..  have not put it on the market yet and I was going to contact Jim to list it for me I want the bull dog on my team.. 

 

Originally posted by @Brad Fausett :

@James Wise

I believe you sir have a legal obligation to protect private and personal information which you have freely posted to an Internet forum.   Yet I’m the amateur.  You need to remove that information Now. 

Brad see my response I have a duplex in Cleveland that is off market that I OWN.  you can buy right now..

also picking a fight with the guy who did battle with Clayton Morris and got sued for 7 million dollars..  I think its the most important word in real estate NEXT  especially in Markets like Cleveland where there are so many opportunities.. 

 

Originally posted by @Jay Hinrichs :
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

the 8 hour time frame for response was so very 2009..  LOL..  when i get those I purposely do not respond within the time frame its a power trip LOL..  Also the MF I have brokered  it was common NOT to inspect every unit.. to invasive for the tenants and especially in covid. 

And remember the short sale days of 09 to 2012 taking months to get an answer and right on the listing dont call the listing broker we will call you..  I just stopped offering on those. 

But Hey I have a duplex for sale in Cleveland I would like to sell..  have not put it on the market yet and I was going to contact Jim to list it for me I want the bull dog on my team.. 

 

Oh man, I am lookin forward to getting a deal done with the O.G.

 

Originally posted by @Matthew Olszak :
Originally posted by @James Wise:
Originally posted by @Brad Fausett:

Don’t hold your breath on that...  good on you for redacting the document however.   I guess you seen my name was also provided now.  

You should not have posted a financial document with names involved, poor business decision. I’m sure your own personal legal team would agree.  

Moving on, you are not the type of business person I want to engage with,  we won’t be crossing paths again.  Your desire to post confidential private banking information is irresponsible, especially in retailiation of someone voicing their displeasure with your company communication skills.   Anyone who reads this thread in the future will surely feel they are in good hands with info they provide since you were so quick to place it on the Internet over a bad review.  Not to mention your point was to say I used someone else account info as proof of funds when both parties who would have been engaged in the purchase's name were clearly on the document that was drafted specifically for the purchase of this property.

No hard feelings here.  I’m all the wiser as what to expect from your firm after this engagement.



 Bruhhhhhhhhhh.

See that below, that's the purchase agreement with your name and signature on it. You know who's name and signature is not on this purchase agreement? The guy who has the money. You know what else is on there? Contingencies that were not acceptable. 

You can't still be this confused can you? Not possible. Nobody is this clueless. You must be trolling now.

Well to be fair it was a cash offer, just not his cash. I guess we can start calling FHA offers cash as well since that's what's being paid in the end.

When I was a broker, I'd ask my clients if they even want me to bring certain offers to their attention, like owner-financed, or offers below x% of list. 99% would say no, don't bother me with it. You replying to his agent that his offer w/ contingencies was declined, after specifically stating no contingencies would be considered, was going a step above all in of itself versus just deleting the email all-together. Especially with the nonsense "we need to view all units" - which coupled with someone else's POF being provided 100% sounds like someone trying to wholesale an MLS deal where the "partner" comes in and doesn't approve of the condition or whatever.

Mathew that was my thought.. I get deluged by wholesalers weekly.. And those that actually follow up and will send a POF ( its rare they will because they dont have one) but when i get them its 99% of the time the partners POF or some rinky dinky HML I never heard of..

Plus this being MF its COMMERCIAL real estate its not resi home owner real estate its a far different world. professional buyers professional sellers and ANY BROKER worth his salt is going to double end these deals first and foremost and then only put it out to the other agents when they have run through all their personal book of buyers.. that's how MF is handled that's why you don't pop on MLS and see 100S of apartment buildings for sale.. they are traded by the listing agent to his buyers first.. then to his office and then only when that does not work it goes out on loop net or Coastar or last MLS> But if he wants to I will sell him my off market duplex in Cleveland i just put a bunch of money into LOL

 

Originally posted by @Michael Plante :
Originally posted by @Colleen F.:

@Brad Fausett   

Two comments on communication:  No seller is required to counter an offer or tell you why they aren't accepting an offer.  Responding no is fine. some people don't even respond. 

I also would have read that letter as not your funds. If the other guys name was on the contract no problem but just your name I would think this is an error.  That might be something you consider in how you move forward in future offers. Good Luck in your future deals.

agreed 

I put in an offer in a property through buyers agent  and never heard back   Fortunately I knew the owner/broker of the agent 

I called him and asked him what was up  he said he didn’t know and suggested I call the listing agent and ask 

I did   He said flat out he didn’t think I was a serious buyer and never presented the offer.  He stated he wasn’t required to by law and didn’t bother his seller with offers he felt were not serious 

After we spoke for about 15 mins he said he would presented the offer  

it was accepted.  And now I own the 99.8 acre parcel and have a new friend

was he right?
was I right?

The don’t care.    My objective was to own the property.  I reached my objective 

Screw pride.  I want results for myself to reach my long term/lifelong goal.  It’s so nice to be older and not have that macho ego on my shoulder as often 

 

A little off topic but your story reminded me of one of  my earlier deals when i used to broker at the street level.  I had this offer on a 5 acre tract in Northern CA.. the Agent this time listing agent was gone and no one was covering for him and he was going to be gone for 2 weeks well being 25 and highly motivated I figured out who owned it.. and contacted them directly and told them Hey your agent is non responsive so I am calling you.. ( somewhat of a violation I know but at 25 and hungry I did not care)  We put the deal together the seller liked my gumption and he turned out to own a software company in Silicon Valley lived in a mansion in Los Altos hills and we ended up doing deals together before he bought his 100 foot sail boat and left the country to sale the world.. He also was a very type A guy..  

 

@Jay Hinrichs

I am not a wholesaler, this whole post has gotten out of context and was voicing my frustration with their poor communication and refusal to speak with my agent on the phone. How many wholesalers do you know that have agents representing them.

The property in question is a 3 unit residentially zoned property.

We were unable to make a deal. They offered poor communication and I have since moved on seeing other properties. I have learned nothing more then I do not wish to conduct business with an organization that makes it tough. They refused to talk to my agent when she called for clarification, the inspection report was missed by my agent and I hate that. In her defense I see how it could happen when looking from a mobile phone it gets blended into his email signature.

Me. Wise missed on the proof of liquidity that my name along with my capital partner were both on the document.

Poor communication was the title of this thread and continues to prove that simply allowing a phone conversation with the agent representing my offer could have corrected much of this.

Moving on, I am actively seeking to add 1 or 2 more duplex - quads to my portfolio. I have a prefer side by sides

Originally posted by @Lynnette E. :
Originally posted by @Brad Fausett:

Wait, so asking to see the rest of the property however acknowledging we will waive asking for any concessions to said property after reviewing is still a contingency that you are not willing to accept?  Who the hell buys sight unseen?   What are you hiding?   No thanks.

Again, this thread was about disappointment with the level of communication between your office and my realtor / me.   Clearly you only have time for Internet forums.   

I have NEVER seen the inside of the properties I bought as investments and did not see the inside of 2 personal homes I bought. I generally buy foreclosures or REO properties and often do not even get keys after closing, but get to break into the properties.

Geez--you even got videos of the inside!  And maybe, if your realtor showed it to you, an inspection report!  AND you got to look in one unit, and saw it was not perfect and work would be needed.  And you likely would get a walkthrough right before closing to see if the property looks like the video!

Lynette to be fair and balanced like fox news..  buying courthouse steps properties or auction properties where its known up front that you cannot get into them is one thing.. and you bake that into your offer price..  I too have bought literally 100s of foreclosures many without getting in side.. only to find the house stripped or broom clean its the cost of doing business.  Or like one was a Porno shoot house that was wild.  Or one had a Chevy rebuilt in the basement .. LOL

 

@Jay Hinrichs

I am uncomfortable buying a non foreclosure property sight unseen.

The property is beautiful in the video however it currently has a tenant in it which runs a dog training center. They have a large and aggressive pitbull in the back yard which had trashed and muddied the back door.

Requesting to see the condition of the unit at the time of sale did not seem to far fetched. Clearly you are more comfortable then I am buying sight unseen.

There is a lot to this story, I get James is upset I voiced my frustration with his companies communication skills. I wish he had a fraction of the time he spent here to talk with my agent, we may have not came to terms on that property but he has several others that potentially could have worked out for my current needs.

Point is, the refuse to speak with the agent and the communication experience was frustrating.

Originally posted by @Brad Fausett :

@Jay Hinrichs

I am not a wholesaler, this whole post has gotten out of context and was voicing my frustration with their poor communication and refusal to speak with my agent on the phone. How many wholesalers do you know that have agents representing them.

The property in question is a 3 unit residentially zoned property.

We were unable to make a deal. They offered poor communication and I have since moved on seeing other properties. I have learned nothing more then I do not wish to conduct business with an organization that makes it tough. They refused to talk to my agent when she called for clarification, the inspection report was missed by my agent and I hate that. In her defense I see how it could happen when looking from a mobile phone it gets blended into his email signature.

Me. Wise missed on the proof of liquidity that my name along with my capital partner were both on the document.

Poor communication was the title of this thread and continues to prove that simply allowing a phone conversation with the agent representing my offer could have corrected much of this.

Moving on, I am actively seeking to add 1 or 2 more duplex - quads to my portfolio. I have a prefer side by sides

this is the fun of BP we get to hash this stuff out and dont take anything personally.. I have over 47 years of representing myself Buyers and Sellers I not seen it all but have seen a lot.. keep in mind were we are in the RE cycle also dictates who business is transacted and right now in the uber hot Sellers market it can be quite frustrating.. Like right now in Vegas ( my daughter is a broker there) the poor FHA VA buyers are almost completely shut out by the I buyers the True cash buyers no contingency buyers I will let you live in the house for 60 days after close for free buyers.. and each listing under 350k gets 20 offers.. try representing a buyer in that environment.

So to wear the sellers hat I had 3 1. 7 million dollar spec homes in Charleston SC sold 2 of them this last quarter.. And we kind of went through what you going through I was getting low balled and one buyer from Newport Beach CA kept at us with the I want an answer in 6 hours type of thing.. well there are 3 hours of time difference so makes things hard.. end of the day we kind of had a meeting of the minds but then another offer comes in 75k higher and I snag that one and they lost.. they were pissed .. Just put another one in contract last week were we got an offer of 1 mil on a 1.7 million listing.. keep in mind these are all cash with true POF's and the one we closed was cash.. And the one pending is cash on a 1031 that we verified the accommodator has the funds.. the 1 million guys were just high end wholesalers so we simply never responded in any way to them.. and the others we engaged and finally hit a number.. So when your dealing with real estate that is so cheap in those areas there are going to be tons of buyers and cash is simply not a problem for most and they have it in their personal Bank Accounts.. I think that is Jims point.. but I get it from both sides I understand..

 

Originally posted by @Brad Fausett :

@Jay Hinrichs

I am uncomfortable buying a non foreclosure property sight unseen.

The property is beautiful in the video however it currently has a tenant in it which runs a dog training center. They have a large and aggressive pitbull in the back yard which had trashed and muddied the back door.

Requesting to see the condition of the unit at the time of sale did not seem to far fetched. Clearly you are more comfortable then I am buying sight unseen.

There is a lot to this story, I get James is upset I voiced my frustration with his companies communication skills. I wish he had a fraction of the time he spent here to talk with my agent, we may have not came to terms on that property but he has several others that potentially could have worked out for my current needs.

Point is, the refuse to speak with the agent and the communication experience was frustrating.

Gothca personally I would never have even offered on that type of property..  I have seen what people do with their dogs in the deep south stake them to a pole  poor pit bulls  and others its very upsetting to me personally.. I just have to walk away. I have more compassion for the dogs than I do for the owners that treat their animals this way by a long shot.

 

Originally posted by @Brad Fausett :

@Jay Hinrichs

I am uncomfortable buying a non foreclosure property sight unseen.

The property is beautiful in the video however it currently has a tenant in it which runs a dog training center. They have a large and aggressive pitbull in the back yard which had trashed and muddied the back door.

Requesting to see the condition of the unit at the time of sale did not seem to far fetched. Clearly you are more comfortable then I am buying sight unseen.

There is a lot to this story, I get James is upset I voiced my frustration with his companies communication skills. I wish he had a fraction of the time he spent here to talk with my agent, we may have not came to terms on that property but he has several others that potentially could have worked out for my current needs.

Point is, the refuse to speak with the agent and the communication experience was frustrating.

I get it depends on what stage your in and your actual liquidity.. I have bought about 35 properties at foreclosure in Cleveland last 2.5 years  Never saw a one.. some we made spectacular money on others we literally  lost money on..  But i get it you want to be a landlord so different buying criteria than guys like me that just move money and houses are nothing more than widgets to us.

 

Originally posted by @Jay Hinrichs :
the 8 hour time frame for response was so very 2009..  LOL..  when i get those I purposely do not respond within the time frame its a power trip LOL..  Also the MF I have brokered  it was common NOT to inspect every unit.. to invasive for the tenants and especially in covid. 

 

Yup.  I deal with owners directly and give them 2 days at least.  Listed more like 5.  Listed owners are often out of area or even outside the country and/or have multiple heirs to consult.  

If I hear anything back I am surprised. However, if they get back to me after it expired, it is dead.  What offer? I'll ask them to remind me and the games begin.   That's all it is, really. 

Been a fun read.  A lot can learn a lot from this thread👍

 


Every single issue presented in this thread would have been solved by a quick call. 

I stated his company offered poor communication and I stand by that.

The realtor who brought me this opportunity was told she would receive a paltry $1,000 commission.  Not exactly what a realtor wants for their time and efforts but what ever, we have and continue to do deals together.  When you realize the commission is 1k and you have to jump through the Holton Wise offer submission process, you receive little information and are met with a rude receptionist whom seems offended that you are following up on a presented offer the whole process seemed unprofessional.

For every person who has jumped in this thread to defend James position and to say we were not owed anything more then just offer a email stating offer declined I get it.   Our frustration was with the overall poor communication offered by him or his office.  

For every person who jumped in 20 more will have read this thread, never commented and will make their own judgment on doing business with Holton Wise.   A company who engages in childish behavior posting teddy bear memes and making jokes in reference to my last name being Fausett.  How he as the CEO is quick to post confidential and private banking information with names intact on the internet referencing the amount of cash on deposit.   Those people will never say a word hear, nor will they ever engage in business with Holton Wise. 

All of that because someone voiced their frustration with their communication skills.  

He falsely stated I provided pof without my name and solely in the name of someone else. That was incorrect however given hos oversight could have been clarified in a call.

My realtor missed the previous inspection report,  this could have been clarified with a quick call it was indeed attached. 


I stand by my post.  After my first experience with Holton Wise it will likely be my last, at first due to the poor communication but now to the incredible display of unprofessional attacks and sharing of private information.

Everyone who reads this, is entitled to their own opinion as wether or not they wish to conduct business this way. 




Originally posted by @James Wise :
Originally posted by @Brad Fausett:

Excuse me... Both names are on the proof of liquidity, upon accepted offer the transaction would have been handled in a cash purchase.  Cash is Cash, apparently not to you Mr. Wise.  My partner was providing a bridge as my liquid is tied up in another property for 45 more days, I can sit on the sidelines or continue to use the resources that I have developed to move projects forward.   Is this not BiggerPockets, a forum dedicated to learning how to leverage the resources at our fingertips.  I was putting up $80k and leveraging a resource to keep my projects moving while another closed.  

Again, not sure what world you live in but this is a cash offer, and proof of liquidity were supplied to your firm.   My partner was also taking a position in the property.

If you have received other offers I extended my apologies.   I have seen this property on the market since last September and it has seen a number of price reductions and  time pass along in a market where properties sell within days.   I made an error in judgement assuming there were no offers based on the information I had.   I called in a favor from someone with more access and I see you have had it in contract 2 times since.  However, I think you are missing the entire point of this post.

$7,000 below asking price is total nonsense?   This is after I toured the upstairs property and was met with multiple places where the roof is leaking and has damaged the interior ceiling, black mold Is present on the walls and you were kind enough to leave an industrial size bottle of rat killer sitting on the kitchen sink?   This is a total non-sense offer?   

You sent us the video yesterday in your email, It was watched at least 10 time, I walked the property and visited the upstairs unit.  Your email yesterday did not include a former inspection report, that information would have been helpful but was NOT present.  

To the gentleman who said " I guess that didnt go how you expected", actually it did entirely.   When a customer wants to do business with them and made a reasonable offer on a property he only had time to say offer declined.   I must agree with the other first person who commented that HW is more worried about being HW then actual working with a buyer. The time and effort he spent in his response here on bigger pockets proves my exact point of this post.  After my first experience dealing with them, I find they have poor communication skills.  0 effort was made to bring a prospective buyer any closer to any other offers or to the goal of their seller.

Go ahead and bash the clients who are up and coming investors, those who have multiple properties under their belt or the long time pros on here, its clear, customer service is not imperative in your operation.  Had you given 1 tenth of the effort you did in your BP response to my offer I would never had voiced my experience of your company poor communication skills.  

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 Brad are you lost? I literally posted the email in this thread twice where I sent you the inspection report as well as explained what type of offer terms where acceptable. Here it is for the 3rd time.

In addition, you're rambling about this guy giving you a loan in the screenshot below. This ramble of yours is completely contradictory to reality. I also posted the form your agent sent in this thread. I will post it again below. 

#1 It states he has the money, not you. His name is not on your purchase agreement, yours is. 

#2 the fact that he is loaning you money for your purchase means it's a loan. I don't know how else to explain that to you.

# 3 You not understanding what is and is not a loan isn't even the only problem here. I have explained to you about 4 times now the offer needed to be AS-IS.

Just put down the shovel dude. You are digging the deeper. Let it go, you've made mistakes and hopefully learned. Now it's time to move on.

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I thought you could write cash offers and submitted proof of funds from JPMorgan. They have the money in their accounts. It is just going to take me 45 days to get it from them.

I have been doing this wrong the entire time.