Has anyone worked with RWA (http://rwaproperties.com)? I flew out there and drove around with them and they seem to be totally solid. Just want to get a second opinion before I get a turnkey from them.
I am not familiar with the company specifically but I would just say that out-of-state investors (particularly from California) who are looking at turn key properties are often enticed by the "pro-forma" cash flow projections & sometimes do not put enough focus on the sales comparables (i.e. what is the 'true market value' of the property at Day 1 & how does that relate to how much I paid). The often quoted first rule of real estate investment is "make money when you buy" - make sure you do that. It is tricky in Indianapolis because, as many people say, it can really be street-by-street, so a supposed "comp" 4 blocks away may not, in fact, be a "comp".
P.S.: Burbank airport is great! You land, and you are in & out of the airport in 10 minutes. Can't beat it.
I've worked with them. DM me or call me for my input,
I'll 2nd what Matthew said. Please look at the sold comps closely....with clients I've worked with from out of state, many of the turnkey offerings they have shown me have been towards the very high end of area comps.
That leaves you requiring that everything go perfect with your management company, or you could quickly find yourself way underwater in a difficult neighborhood.
Tread carefully and do a lot of DD.
I just closed my first turnkey property with them two weeks ago. They are great to work with! I live in Indy so I was able to see firsthand the rehab work and it was all fantastic! The place was rented the day after closing to solid tenants. Although it's my first experience with RWA, I plan on working much more with them! They are responsive, professionals who who have made me feel like a big time investor!
I could not find any investment properties for sale on their website so unless you can provide some general details on price and location it would be hard to comment on their offering.
@Chris Cerny When you acquired properties through RWA, did you experience delays in getting the home ready from the original committed date? Have you worked with Josh Wetzel, Jamie Richardson? Did the property appraise to the sale price of the home? If not, did RWA knock the price down to the appraised value of the home?
I would greatly appreciate your feedback.
@Karthigan Srinivasan did you ever purchase a property from RWA, and if so how was your experience. I am considering purchasing a property from them. Thanks!
Join the Largest Real Estate Investing Community
Basic membership is free, forever.