Has anybody worked with the company property source reality? I found a property they have listed that I have a very strong interest in but I am having a hard time figuring out if they are a legit operation. Basically the lady told me the are the point of contact for the asset management company that run a wholesale operation. the building I am looking at is needs some work but they are trying to sell the building without doing showings. If they cannot sell the building using just the general marketing images and NOT allowing showings then they will open all the doors and allow people to walk through. At this point they will take offers in a bid format.
What do you guys think? Legit or not?
Thank you all!
I looked them up on line and they say they specialize in Detroit. IMO it's a little fishy..nice looking website but they don't even have a 1-800 number and no physical address. I'd say do more research and be cautious.
BTW - nice to see another Vermonter on the site!
I would say walk away.
I wouldn't buy a used car without seeing it, or having someone on my team see it, never mind a property.
@Tom S. I finally hounded the lady enough and she gave me the code to the lock box on the building. The code ended up being correct! Makes me feel a little better. I had a purchase and sale agreement emailed to me and basically the way it would work, if i follow through, is I sign the P&S and have 48 hours to provide the funds. Once I do, everything is set and I get the deed in 7-10 business days.
It sounds more legit now, but I still am hesitant because I do not have enough time to have an inspection and environmental test done.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing