New Western Wholesale company

5 Replies

Recently found a great place on line. When I called the “owner” I learned it was just sold that day... then I learned it was actually with a wholesaler named New Western. Then I called on another and same exact situation and company... and finally now just happened a third time

I did meet with one rep from this company and he was about 22 and showed up in his really nice Lexus. He had no info on the home at all and was asking $95k while Zillow still had it listed st $65k

I have searched on line and found nothing good about this company... has anyone dealt with them and have any feedback good or bad? I am trying to decide if I want to give them another shot or not

Disclosure: I am an agent with this company

Matt, Bias opinion here as I work with this company down in Austin, TX. We do move properties very quickly, typically within 24-48 hours. We are working with investors that are in positions to move forward quickly on investment decisions. The biggest thing I always recommend to people looking to do business with us is to ask about our repeat investors and see if you can get references. 37% of our Austin, TX sales in 2018 were to investors that have bought 3 or more properties. We have many investors that buy houses from us on a monthly bases and greatly benefit from our services. 

Just one man's opinion. References and success stories are key.

@Matt Lyons @Reid Sullivan  New Western is the big dog when it comes to wholesaling and moving properties. They get leads from a ton of sources and are never in shortage of properties. Because they have so many buyers in their network, their deals may not be as cheap as a "mom and pop" wholesaler that has a smaller buyer pool. With that said, I have lots of clients finding deals through New Western and turning a profit. As always, do your due diligence and offer what makes sense for you. 

@Matt Lyons

I have worked with the branches in DFW (there is like 5+ locations down here). I have purchased one property directly through them and know many other investors who have also purchased through them. They are wholesalers. They are selling a property which they don't know but have under contract. They make the spread between what they contact it for and what they are able to sell it to your for. That money goes towards the marketing budget that is required to maintain that flow of properties, overhead, and wages for the agents involved. I have never known any agent of theirs to lie or hide something about a property. I meet A LOT of investors.

Now I have heard the complaint frequently that their properties are marked up. It is really up to the investor to do their own due diligence and make sure they are getting a deal. The agents are sales people. They work for the seller. They don't represent the investor buying the property. Therefore they are going to attempt to sell you something. Be prepared for that. Don't rely only on what the agent tells you. Use a lender, outside broker, or your own tools to verify everything before ever signing a contract.

Just out of curiosity, what have you head about them in reviews? My guess is mostly about the prices being too high or not liking the bidding process when you are walking a property.

Best option if you don't like working with wholesalers, put serious money into marketing to find your own deals. Send out letters, knock on doors, and follow up with every lead you get. Otherwise know that you will be paying someone else to do that work for you.