I am trying to make my first purchase and investigating several options to achieve that goal. I trust the information shared by the BP community so I decided to ask about this company.
I have been receiving offers from Mike Cherwenka's company Goldmine Properties which offers wholesale properties at 65% LTV. Would like to know if anyone here in BP has experience working with this company or the owner.
Google his name...that should tell you everything you need to know. He's "well known" in Atlanta real estate... :-)
@Pyrrha Rivers I would highly suggest you do your own due diligence on any wholesale deals presented by these folks. The two or three properties I've analyzed from them presented inflated ARVs and repair estimates that were about 1/2 to 1/3 what the actual rehab costs would be for the subject property.
@J Scott Thanks for the suggestion. Have done some Googling but wanted the BP perspective as well as I find this site to be such a valuable resource due to the generous giving that is typical from experienced people in this community.
@David Begley Thank you for responding. I felt their numbers were not realistic. I don't have rehabbed properties experience yet but I do have some knowledge of the area and their ARV seemed high. Without actual experience I was not sure. Thanks for the assurance.
Do you know that anyone can go on that Rip-Off report and post anything about anyone without proof and anonymously. When you call to offer proof that this did not occur, that's when they hit you with you have to pay to erase this off their site. The Rip-Off report is a scam/ extortion site because it charges small business owners 15K to clear their name. They don't ask for any proof of the accusation. Considering that Mike has flipped more than 2200 homes and he has a couple people posting negative things, that's not that bad. People should meet a person and make a determination for themselves. The evil trolls should not be able to ruin hard working people with false defamatory information.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.