Investor · Wilmington, NC · Member since 2013 · 276 posts · 169 votes
9y
Funny you mention that. I just got a call from them the other day. Sounds like at best a ripoff, at worst a scam. I was a good sport about it at first, then confused, then irritated. First he didn't seem to know even the basics of real estate terminology when pressed for more information which wasn't terribly assuring. Then when I asked about the properties, he said I needed to put down earnest money before even being told an address, a city, a state, etc. He didn't even have the financial figures for a house. It was just "we get houses all the time and you should give us money so you can be first in line to look at them when they come up." And since they gave you the same deal Marcus, I think all of us would be first in line!? More like we'd both be ripped off. I laughed at the guy and then suggested he lose my number.
Lender · Fort Pierce, FL · Member since 2009 · 825 posts · 486 votes
9y
Sounds questionable. If these properties were that good of a bargain, why can't you find them yourself (or any other investor). You could call the local banks directly and ask for their REO department. It is possible that this wholesaler does such a large volume that the bank gives a discount .... but I doubt it.
Save your money and look elsewhere. Save your frustration too.
Flipper/Rehabber · Tampa, FL · Member since 2016 · 25 posts · 7 votes
9y
I just got a call from this company today. The lady I spoke with had a British accent and stated they are located in downtown Clearwater. She did the best that she could to get my personal information and try to schedule an appointment. I kept plugging her with questions ...all she said was that her company buys properties from the bank severely under market value and would love to tell me more in person. "The owner is a rich man from Argentina" ...Sounds like a setup to me. I'm just pissed that I gave her my first and last name.