Hi Codi, feel free to contact my partner who has gone through Real Wealth Network to buy property before. I'll PM you her info.
Just for anyone else reading this, we're currently having challenges with an affiliate of Real Wealth Network on property purchased through them. Firstly property management issues, poor tenant screening, a very costly eviction within the first few months of ownership, extensive property damage and extremely expensive quotes from the very people who sold the property to us for repairing the damage done by the evicted tenant whom they placed. Oh, and now no one is responding. Been promised a call back for over a week now, simply avoiding our communication.
Originally we were told they had in-house crews for maintenance and repairs and now they are saying they have to outsource everything to crazy expensive contractors. I live in San Diego. In expensive California, I can do a good amount of cosmetic repairs on a decent sized house for $7,000. We're being quoted over $7,000 to repair damage done to a tiny house in Michigan by the very first tenant that was put there by the same people.
We've just recently reached out to Real Wealth Network for assistance and have yet to hear back.
@Jed Bratt , did you ever hear from RWN? How is your situation turning out?
I've purchased one SFR in Detroit suburb and about to close 2 in Birmingham. Numbers are good and so far so good. Looking to buy more from their affiliates.
@Marlina Eckel The property management company eventually got back to us and they seem to be offering to split some of the fees to help right the situation. Much more optimistic than we were when originally posted, although some apprehensive until the situation is cleared up.
Thanks for replying. I hope all goes well and your situation is resolved to your satisfaction. What market are you invested in?
I have issues as well. PM please.
There is another thread on this topic that you should check out. Just search Strategy Property (or Properties) and you should find it.
I like RWN. I've invested in a couple of syndications, bought a house from their Cleveland affiliate (loved them) and used their Detroit affiliate for a property rehab (disaster) as well as management of another property (fine). Overall I strongly believe in what RWN is doing, but as an investor you just need to do your due diligence on the affiliate for whatever particular market(s) your interested in.
@Jed Bratt I’m also leaning toward rwn to buy a turnkey property, can you share what we should watch out for. Did you buy house in C class neighborhood?
@Elizabeth Goff and anybody else who has invested in RWN syndications I would love to hear how they went. I was thinking about throwing a few bucks into the Carson City project. Would love to hear positive and negative experiences the RWN syndications more so than their affiliates that you can buy single family homes through. TIA.
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