Real Estate Investor · Layton, UT · Member since 2014 · 21 posts · 0 votes
Hello BP nation-
These folks have been emailing information touting turnkey real estate all over the south and Midwest with a 200 to 400% ROI. I can't actually find anyone that has worked with them. They are based in Lehi, Utah (my home state). I've 2 friends that are considering becoming "members" despite my warnings of those unrealistic claims. Perhaps someone can prove me wrong? Thanks ahead of time.
Our office is currently located at 2975 W. Executive Parkway in Thanksgiving Point. Suite 137. We are the building closest to the Frontrunner station and the only building with a Copper Roof. I have MULTIPLE local clients that would be more than willing to talk with you about their experience with our Company over the past several years.
We are Licensed Real Estate Brokers & Agents and the 200% to 400% returns you mention, depend on the investment and total time you hold it. Those types of returns are generally from the Ready to Build Lots we offered in multiple areas of the country. You may also see a total of 200 to 400 % Returns on a Turnkey Rental Property that you hold for 5, 10, 15 or more years.
Our average annual Cash Flow on our properties hovers between 15 - 30% depending on the type property you choose to acquire and which category that property fits into.
It is typical for the MAJORITY of the population to immediately throw out the "It's a Scam" remarks or replies. It is always BEST to get the information first hand and learn why 95% of that MAJORITY Population will retire BROKE or dependent on Government, Friends & Family, Welfare or Social Security. Look around you the next time you walk into a Retail Outlet, Fast Food Restaurant or Big Box Chain .... the age of the employees is astonishing. ( And I do not mean they are YOUNG )
Tell your friends to ask for local references and try to find ones the company doesn't recommend. Also, an Internet search works great to get the investigation going.
Our office is currently located at 2975 W. Executive Parkway in Thanksgiving Point. Suite 137. We are the building closest to the Frontrunner station and the only building with a Copper Roof. I have MULTIPLE local clients that would be more than willing to talk with you about their experience with our Company over the past several years.
We are Licensed Real Estate Brokers & Agents and the 200% to 400% returns you mention, depend on the investment and total time you hold it. Those types of returns are generally from the Ready to Build Lots we offered in multiple areas of the country. You may also see a total of 200 to 400 % Returns on a Turnkey Rental Property that you hold for 5, 10, 15 or more years.
Our average annual Cash Flow on our properties hovers between 15 - 30% depending on the type property you choose to acquire and which category that property fits into.
It is typical for the MAJORITY of the population to immediately throw out the "It's a Scam" remarks or replies. It is always BEST to get the information first hand and learn why 95% of that MAJORITY Population will retire BROKE or dependent on Government, Friends & Family, Welfare or Social Security. Look around you the next time you walk into a Retail Outlet, Fast Food Restaurant or Big Box Chain .... the age of the employees is astonishing. ( And I do not mean they are YOUNG )
Thanks for your post. I'm the CEO of W.A.S. You are a good friend to assist your friends in finding out about my company. There are way too many scams out there. We are real people with real properties which produce cash-flow for our clients. We don't charge our clients a dime for our services. We are Brokers and Agents who make a commission or referral fee.
I'm not sure where the numbers you quoted came from. We are conservative with our projections, however, if you look at a 30 year projection the numbers can look like what you cite. We sell mostly newer or new properties with tenants in place which are professionally managed and we have many clients locally/nationally who can attest to who we are and that our properties perform. We welcome anyone to call or stop by our office anytime. We would be happy to meet you and show you what we do.
I have friends who have worked with them and have been happy with the service they provide. I plan on contacting them soon to help me evaluate options for my first deal.
I would be very careful investing with this group. I have purchased 2 properties through them. One was a new construction townhouse that has performed well. The other property I purchased is a nightmare. It was rehabbed by a Mark Edmondson and has required costly repairs from day one, not to mention that it sat vacant for months because the promised tenant never materialized. Maybe I just got unlucky on this one. Out of six rental units I own, this is by far the worst experience I have had and the costs of this one property are crushing my returns on the rest of my portfolio.
I have invested with them and have been very pleased. The ROIs that the OP quoted have to be the 30 year ROIs. No where was I ever promised or told my returns would be that high. Also, there's not a way to become a "member" (at least that I know about). They are agents and brokers helping people buy investment properties. They work off of commissions.
I know one of the agents flew out to Indy a year or two ago when some of her clients were complaining to her about the PM they were using there. She went out there to figure things out for her clients and I believe she did (I assume she found a new PM - I don't know though).
No company is perfect but I felt like the agent I worked with was willing to bend over backwards to make me (and her other clients) happy and satisfied. I would invest with them again in the future.
I was in the process of doing a 1031 and I needed to pick up some out of State cash flowing properties quickly. I was referred to Ron Phillips and his group and have been VERY impressed by their organization, RP Capital.
I have worked with Heather Marchant there and she has made the very overwhelming and stressful job of purchasing multiple oos properties doable. She hooked me up with a FANTASTIC Exchange Company, Lender, Insurance company and Property Management company in Oklahoma City.
They do a lot of the work for you so you are not going to pick up much equity in the deals at time of purchase but if you are wanting help and someone to hold your hand picking up properties they are fabulous. Also if you need to purchase quickly like I did with my 1031 exchange they make it very easy. All the properties I bought through them are new construction but still have great cash flows.
If you are going the turn key route definitely check them out.
I don’t believe Brandon Rooks and RP Capital with Ron Phillips are connected...at least anymore. Brandon may have worked with Ron Phillips in the past but ever since he went off on his own as Rockstar Investments, haven’t heard good things - lost a lot of money for his clients doing flips in FL and very hard to get a hold of. I don’t have any experience with RP Capital but seems like many on this thread do.
I don’t believe Brandon Rooks and RP Capital with Ron Phillips are connected...at least anymore. Brandon may have worked with Ron Phillips in the past but ever since he went off on his own as Rockstar Investments, haven’t heard good things - lost a lot of money for his clients doing flips in FL and very hard to get a hold of. I don’t have any experience with RP Capital but seems like many on this thread do.
I invested with Rooks in 2017 after he left Ron. So did my good friend. Bad move. We both lost and are losing money exactly on the deals you are referring to in FL. Had to get an attorney involved to get anything done because basically, Brandon Rooks and his associate David Helm from Summit Crest in FL just basically stopped responding.
He is unethical and may very well be a con artist trying to line his own pockets. He presented the deals as those he ‘reserves for his own family.’ Complete BS. Contact me for any details before investing. I can share details before you make the mistake I did.
The key here is, if investing, do so with Ron Phillips, not Brandon Rooks!
I purchased two vacant Bella Vista, AR lots from him in 2015 for $12,000 each. These lots were presented as the best within the development hand picked by Ron himself for the greatest appreciation in the years to come. I've tried to sell these lots for $1000 over the past year and been told due to their location/slope, they are undesirable/worthless. Local agents informed me that often these types of lots are purchased just to gain access to the golf amenities. Ron pitched these as a great way to gain appreciation and acquire more turnkeys upon their sale. The lots remain listed and I'm unable to sell them.
I believe I fell victim to trusting a "property coach" and have learned my lesson. I would tread carefully with his group.
Tom J & Gene Vyas - I found your comments on another thread about these SW Florida Investments Opportunities. To clarify, these were Opportunities that I & my family members also invested in. I had an affiliate business relationship with David Helm of Summit Crest and yes, many of my clients invested in the Fix & Flip Opportunities. When Hurricane Irma hit, it turned everything upside down. I gave up any of my percentage of ownership in all of those opportunities and every Investment was renegotiated with a new agreement with Summit Crest, with monthly interest payments between 5 - 10% and a new payoff date. To date, Summit Crest has paid off over 50% of all of those investments and continues to make those payments every month. Please feel free to message me, I do not nor have I ever ignored any of my calls, emails or texts from my clients. Hiccups can happen, but it is how they get handled and resolved that makes all the difference in the world. Happy to discuss, verify and prove that all of my Clients are getting made whole or have already been taken care of with Summit Crest :- ) I do not have any record of an Attorney being brought in to settle with Summit Crest ?