Real Wealth Network - is Kathy Fettky reliable ?

Question

Did anyone have a bad or good experience with Real Wealth Network syndication ?

They seem to promote RENTAL FUNDS and investors complain about their lack of responsiveness and funds not properly tracked.

They do not answer Emails and seem completely overwhelmed.

Thank you for any advise to secure co-signed agreement of refunds.

Kathy Fettke · Answer

@Greg Brooks @Jeff Chen @Michael Carbonare @Patrick B.  I am just seeing this post as I am not on BP often. I am SO SORRY to hear you had a slow response last year. I admit, we were overwhelmed. We got a bunch of GREAT deals all at once and raised over $20M in one month ($50,000 at a time). And yes, we were not properly staffed up for that. Most of our investors are regulars so they understand that we were slow but dependable. Today we are more prepared for big raises like that, with a great team to handle all that paperwork.  If you are in the Reno or Park City project that we were funding at that time, I think you'll find it was worth he wait. :-) Those developments are going so well. The Texas project is paid out already and CR almost all sold out. I'm not sure what Account Closed means? Some of our members bought units in Belize and as far as I've heard, are very happy. $120K for a home in Paradise was pretty sweet - with 50% financing. But if they are unhappy, and I haven't heard, I hope they will contact me. We have no way to improve if we don't get feedback - preferably direct to us. Either way, thank you for your membership at Real Wealth Network.

Michael Carbonare · Answer

"They do not answer Emails and seem completely overwhelmed."

What else do you need to know?

Greg Brooks · Answer

Thanks for this wise advice, Kathy, and the quick reply.  I'll have to check-in on BP more often to see replies.  As it turns out, I decided to go ahead with purchase of the property anyway and save for the roof repair out of cashflow.  I like being able to predict repairs as much as possible and have preventative maintenance, and keep cash reserves for all contingencies that might arise. It's such a relief to have a reliable property manager since I live so far away, and to know if anything happens to that property manager that I will have someone find another good one.

Kathy Fettke · Answer

@Greg Brooks  If the roof is not needing to be replaced today, I wouldn't replace it. My guess is they've already  accounted for that in the price. You are getting a rental property for $100,000 - this is not a new home. A new home would cost closer to $200K. We have affiliates who offer new homes for people who don't want future repairs - but even a new home will have maintenance requirements in 10 years. That's why you need to always set aside maintenance reserves. You shouldn't buy the property if you don't feel good about it. That won't work out well for you or the affiliate - it's not a good way to start - especially when there's a wait list of people who would love to have this property and would see it as a great value. Since you live in Ohio, you might be better off finding your own $40,000 property and doing the rehab yourself?

Greg Brooks · Answer

I've been a member of RWN since last summer of 2017.  I hope this changes soon, but they routinely do not respond to simple emails and local agent in Ohio even sent me the wrong address in a property after offering it to me even after I corrected them once; finally, after documenting beyond question they relented and admitted fault.  Obviously, I didn't buy the property.  It was just too blatant an error to dismiss.  While they might offer great service once you've purchased, so I hear, I've been disappointed.

Jeff Chen · Answer

I just had same experience last two weeks with lack of email response from the company counselor.

Patrick B. · Answer

I don't how to go about and have them react properly by sending me the co-signed agreement or have them refund me. They have received the funds 15 days ago and when they answer emails, they just send one line saying they are checking or that my funds were not sent - which is not true. I sent them copy of my bank account. I do not know what is the best action to have them respect their fiduciary obligations.

Real Wealth Network - is Kathy Fettky reliable ?

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