Has anyone here purchased property through Alive Investments in Baltimore? If so, what has your experience been like?
I have not had an experience with Alive. However I can tell you that Baltimore is a town of neighborhoods, and each neighborhood is unique in terms of real estate values (prices can even vary greatly block-by-block within a neighborhood). Before you make any out of town investments I strongly suggest you engage a trusted partner who knows the area and knows it well. I'd be glad to look over anything for you if you'd like a second set of (local) eyes on it.
I have never heard of them. I am skeptical of 30% returns, on top of them making money. Have the people owned these properties long enough to see their true returns after turnovers and repairs? I am also always skeptical when there is never someone's name on a website. The testimonials mention "Shaun" Shaun who?
I'd be interested in this as well, for those familiar with Alive Investments or the Baltimore, MD area.
If you buy stuff in very dangerous areas, where you'll never make any appreciation via a tax lien or auction, there is a chance to make 30% gross returns, you'll net after taxes, repairs, insurance, vacancy, maybe 14-15%. I know both Joe and Ned who already commented and trust me, there is no making net 30% returns on a regular basis in Baltimore.
Sean is an incredible investor and has created huge returns for several investors! I have refereed several people his way because he is amazing at what he does. Hope this helps!
I invested with Alive Investments with the intent of receiving a cash flowing property after the 2 month rehab period. They have strung me along for the past 6 months, making multiple excuses as to why my investment property is not complete. I am angry, disappointed, but most of all embarrassed I entered into a partnership with these guys. To any potential investor reading this, steer clear and investment your money elsewhere. They continue to hold my money and property hostage, and have crossed the line into fraud with what they portray on the phone and on the internet. Buyer beware.
In November of 2015, I retained Alive Property Management for four rental properties. Alive Properties falsely represented that three of the properties would be rehabbed within thirty days of close. This is not case. One property took 120 days, another took about 150 days and one is still in rehab delayed for over thirteen months. Not only did Alive Property Management not meet the deadline, but the combined cost of the acquisition and rehab did not yield the promised 30% after repair value. Moreover the estimated rental income from the finished properties did not match the actual rental income. Lastly, it has come to light that no lead paint inspections were arranged for any of the properties. I have since changed property management companies from Alive Property Management to Blue Star Realty. Blue Star is now dealing with the aftermath and fallout from unfulfilled promises to tenants, missing lead certificates, lack of signed lease agreements, and reconciling and correcting violations with the Baltimore Department of Housing.
All told the combined neglect, misrepresentation, fraud and breach of contract breaches all fiduciary duty, and borders on criminal offense.
For the immediate term, I am attempting to be made whole for the expenses incurred that include, but is not limited to the opportunity cost of lost rent, the cost of extended homeowners insurance for vacant property, the cost of all the remodeling and repairs ordered to be completed by the Baltimore Department of Housing. Next, I will be seeking damages for the beach of contract for the terms of the rehab contracts.
it sounds like this is happening in the bad areas of Baltimore. If the only tenants that would live there are section 8 and even the higher quality section 8 is apprehensive you should vuy somewhere else. Baltimore certainly has its rough areas. I used yo live there and left after hearing gun fire too much. There are certainly some nice areas. Everything near the under armour masterbplan will probably be fine.
I recommend the county. Less taxes. Still good returns but not 30%. There are plenty of blue collar c neighborhoods that will cash flow just fine. There is the same in the city but be even more careful.
Its a shame these people target others. There are trustworthy people out there. Maybe go turn key first then after someone has gained your trust let them partner on a rehab.
@Erick Garske - Wow. If you really intend to sue, you should probably remove this thread and talk to an attorney instead. You won't benefit in showing your hand on a public forum. I hope you get it sorted out. Sounds like these guys need to be stopped.