Flipper/Rehabber · St Petersburg FL · Member since 2025 · 23 posts · 4 votes
1y
I worked there for years. The NDA is the least of your worries. The deals are bad but on top of that they double close and make you pay their front side closing costs. They also have hidden fees they put in the front side closing costs. Bad company bad people at the top. Don't worry about the NDA, but don't buy from them. Also all of the deals are from other wholesalers or MLS. Get on investorlift or facebook groups and you'll see all their deals before the send them out
Flipper/Rehabber · St Petersburg FL · Member since 2025 · 23 posts · 4 votes
1y
I worked there for years. The NDA is the least of your worries. The deals are bad but on top of that they double close and make you pay their front side closing costs. They also have hidden fees they put in the front side closing costs. Bad company bad people at the top. Don't worry about the NDA, but don't buy from them. Also all of the deals are from other wholesalers or MLS. Get on investorlift or facebook groups and you'll see all their deals before the send them out
I wondered about that myself, I've seen at least 3 listings from other wholesalers that suddenly showed up with New Western at 20k-30k higher. I've looked at a few they've listed but the numbers never seemed to work, at least for me.
One this year, asking 115 and described as needing 'cosmetics' with ARV 150 - when I looked at, I came up with minimum 25k to make rent-ready, with recent sales on the block between 90k-120k. Maybe the numbers would work for someone else, but my rental standards are a little higher (eg. for me, drop ceilings are alright in a finished basement, not an upstairs bathroom or kitchen.) Plus many townships require grounded outlets in bedrooms, I'll install a GFI in a pinch but better long-term to just run a couple new outlets. If I couldn't see possibly living in it, I'm not going to try to get someone else to. So for me, the numbers simply never worked at the prices they were asking.
I wondered about that myself, I've seen at least 3 listings from other wholesalers that suddenly showed up with New Western at 20k-30k higher. I've looked at a few they've listed but the numbers never seemed to work, at least for me.
One this year, asking 115 and described as needing 'cosmetics' with ARV 150 - when I looked at, I came up with minimum 25k to make rent-ready, with recent sales on the block between 90k-120k. Maybe the numbers would work for someone else, but my rental standards are a little higher (eg. for me, drop ceilings are alright in a finished basement, not an upstairs bathroom or kitchen.) Plus many townships require grounded outlets in bedrooms, I'll install a GFI in a pinch but better long-term to just run a couple new outlets. If I couldn't see possibly living in it, I'm not going to try to get someone else to. So for me, the numbers simply never worked at the prices they were asking.
Yes you can see my reply earlier, I worked there for years. They are not wholesalers, they are a dispo company. They just sell other wholesalers deals. They do not get direct to seller deals. If you just get on Investorlift and Facebook groups, you'll see all their deals a week before they send them out, and for much less.
Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
10mo
We have bought from them several times over the years, but as they have grown, their deals have made less sense. I agree with some of what Jake said. They are purely a dispo company. Their main focus is to build the largest buyer list they can, and then try to sell smaller wholesalers' deals or pocket listings from realtors. Some of what they contract still has some profit to make, but they tend to milk all of the equity by stepping in as a middleman.
It's like any company that brings you an off-market deal. Perform your own diligence, and then if it still makes sense, give it a go. But do not use their comps and do not use their suggested rehab number. And like any large company, some of the staff is solid and understand the relationship business, and some of the staff is like dealing with a used-car salesperson at a shady car dealership.
At the end of the day, there are better options out there.