Feedback on company Offer Geek in Flint, Michigan?

BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Feedback on company Offer Geek in Flint, Michigan?

Sharma Parth
Member since 2024 · 45 posts · 10 votes

Hey guys - I came across this company - Offer Geek - https://ogeekholdings.com/ - where they are offering properties by also doing the entire renovation, placing a Section 8 tenant and also offering property management for you? 

Has anyone worked with them before? 

Is there any feedback on the Flint, Michigan market?

Is it better to go down this route vs looking at doing a BRRRR deal myself?

Please advise! 

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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y

@Sharma Parth City of Flint is losing population, so not a great place to invest:(

Detroit on the other hand, has been growing for the last 5-6 years and finally the US Census Bureau recognized that (please Google to verify!).

PM us if you want to discuss more about Detroit opportunities.

Logical Property Management4.9455 Reviews
WebsiteView Page
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  • Jeremy Fleming
    Investor · Member since 2024 · 52 posts · 47 votes
    2y

    I would be very leary. There are a lot of crooks in the real estate investment world. Some don't even mean to be crooks. Do your due diligence on the company, just like you were buying THEM!

    0Reply
  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 696 votes
    2y

    @Sharma Parth

    They are offering you a turnkey solution and charging you a fee for it. There are some great turnkey companies out there, but I prefer to hire a general contractor for the rehab and do things myself to make more money. 

    [email protected]
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  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    2y
    Quote from @Sharma Parth:

    Hey guys - I came across this company - Offer Geek - https://ogeekholdings.com/ - where they are offering properties by also doing the entire renovation, placing a Section 8 tenant and also offering property management for you? 

    Has anyone worked with them before? 

    Is there any feedback on the Flint, Michigan market?

    Is it better to go down this route vs looking at doing a BRRRR deal myself?

    Please advise! 



    Personally not a fan of out of state BRRRR.

    I think it's a recipe for disaster and having been in the game for 10+ years, I've seen the disaster first hand as I bought hundreds of deals from disgruntled out of state investors who thought they can do it themselves.

    My property management company has doubled in 12 months also due to out of state investors getting caught with a poor property manager when trying to do it themselves from afar so they come to us for help 🤷‍♂️

    I'm seeing many investors buying D class crap on the MLS for too much and that needs work.

    They end up being into the property for 30% more than they would be that if they just bought turnkey.

    A true turnkey provider will find the cheapest/best deals through a variety of acquisition methods, renovate well and sell for fair market value (And manage in-house).

    If things go South, they are solely to blame and the penny drops with them.

    But with DIY, who is to blame?

    The realtor?

    The contractor?

    The property manager?

    Nobody takes responsibility and the finger pointing starts.

    It becomes a mess.

    I'm bias as we offer turnkey so take what I say with a grain of salt.

    Much success
    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
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    1Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Sharma Parth City of Flint is losing population, so not a great place to invest:(

    Detroit on the other hand, has been growing for the last 5-6 years and finally the US Census Bureau recognized that (please Google to verify!).

    PM us if you want to discuss more about Detroit opportunities.

    Logical Property Management4.9455 Reviews
    WebsiteView Page
    2Reply
  • Sharma Parth
    OP
    Member since 2024 · 45 posts · 10 votes
    2y
    Quote from @Michael Smythe:

    @Sharma Parth City of Flint is losing population, so not a great place to invest:(

    Detroit on the other hand, has been growing for the last 5-6 years and finally the US Census Bureau recognized that (please Google to verify!).

    PM us if you want to discuss more about Detroit opportunities.

    Just sent you a note - please let me now about investment opportunities in the Detroit area
    0Reply
  • Sharma Parth
    OP
    Member since 2024 · 45 posts · 10 votes
    2y
    Quote from @Engelo Rumora:
    Quote from @Sharma Parth:

    Hey guys - I came across this company - Offer Geek - https://ogeekholdings.com/ - where they are offering properties by also doing the entire renovation, placing a Section 8 tenant and also offering property management for you? 

    Has anyone worked with them before? 

    Is there any feedback on the Flint, Michigan market?

    Is it better to go down this route vs looking at doing a BRRRR deal myself?

    Please advise! 

    Hi Engelo - I think there is some confusion. This company is doing it all for the customer. The customer only pays 1 price that includes the price for rehab and purchase. Isn't that worth a try? (i could potentially go to the bank and get DSCR or a standard 30 year mortgage on it and have a cash flowing rental for $100-$250 a month?) 

    Thoughts?


    Personally not a fan of out of state BRRRR.

    I think it's a recipe for disaster and having been in the game for 10+ years, I've seen the disaster first hand as I bought hundreds of deals from disgruntled out of state investors who thought they can do it themselves.

    My property management company has doubled in 12 months also due to out of state investors getting caught with a poor property manager when trying to do it themselves from afar so they come to us for help 🤷‍♂️

    I'm seeing many investors buying D class crap on the MLS for too much and that needs work.

    They end up being into the property for 30% more than they would be that if they just bought turnkey.

    A true turnkey provider will find the cheapest/best deals through a variety of acquisition methods, renovate well and sell for fair market value (And manage in-house).

    If things go South, they are solely to blame and the penny drops with them.

    But with DIY, who is to blame?

    The realtor?

    The contractor?

    The property manager?

    Nobody takes responsibility and the finger pointing starts.

    It becomes a mess.

    I'm bias as we offer turnkey so take what I say with a grain of salt.

    Much success

    0Reply
  • Bryson Lawrence
    Member since 2023 · 5 posts · 2 votes
    2y

    Hi Sharma, is there any update to this? Did you end up using this Offer Geek company?

    Thanks!

    0Reply
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