All Forum Posts by: Anthony Gonzales

Disclosure: I am the broker of New Western Philadelphia.

Hey Henry! We have had many successful investors whom are in the biggerpockets community and I'd be happy to answer any additional questions that you may have about doing business with us. We have 4.7 stars on Google and an A+ rating with the BBB. We've made so many great connections in the BiggerPockets community over the years and I hope its as fruitful for you as it has been for us. Some of the biggest BiggerPockets contributors are New Western Agents!

@Gregory H. I'd sum it up quite differently! I'm the broker of NWA in Philadelphia and I wouldn't say you needed to be a deep-pocketed investor or someone ready to go toe-to-toe. We're not a sophisticated group of evil profit seekers.. We're a brokerage of licensed agents skilled in finding great investment property for our clients. We're just a  free source of investment deals for buyers to choose from. We sell to not only some of the biggest investors in Philly but new investors as well. We're full service and will spend as much of our time/resources as needed to ensure our investors are successful. A majority of our deals sell to repeat investors and we price them at competitive prices which is why 90% of our deals sell within a few hours of coming available. I don't show we've ever done business but we'd love the opportunity. If you've already formed your opinion, that's okay too. We're not a fit for every investor and that's okay. We do have several profitable relationships with some of your fellow agents at KW-Center City!

@Account Closed 85-90 cents on the dollar?! Sounds like you're talking about deals in red-hot Richardson, TX. Out here in Philly we sell at 65-75 cents on the dollar, even in the hottest areas. When I was in the Texas market last in '09-'14 we were selling around the same percentage but I know the supply/demand has made it a LOT more competitive. If you're looking for deals with more meat on the bone, I suggest you check out the Philly market! We work with sever out of state investors. 

Just for reference- The W. Philly deal we put out this morning (already sold) was 98k Purchase, 75k Rehab and a $240k ARV. 72%.

@Douglas Berman Doug- I appreciate the feedback about your experience with New Western. I know you and Simon had looked at a few of our deals and ultimately couldn't find one that worked out for your numbers. Every investor has their own formula and I completely agree that you have to do your own due diligence to assess if it's a good investment for you. I wish we had gotten the opportunity to get a deal done. We're simply another resource for investors to have opportunities brought to their feet, for free.

A lot of our buyers love the spreads and properties provided, but we certainly aren't a fit for everyone. Some buyers like the full service of a buyers agent, and I can respect that.

Again, I appreciate you sharing your experience and wish you the best of luck in your investing future!

@Jamal Pitts Do you have a deal that you're worried about appraising? I'd be happy to give my opinion of value if you think it would help. I'm a licensed broker for many years and also work with Clay. We're skilled at complex values and have advanced insight in Real Estate finance. Happy to help-

Welcome to Philly @Anthony Lee ! There are quite a few investors from Philadelphia here. Philly is a hot market and there is plenty opportunity for Wholesaling and Flipping. Happy to help if you have any questions or need help!

Disclosure: I'm a licensed  RE broker for New Western - Philly.

Hey, Richard! Wholesalers are a great source to receive free property to evaluate. I would recommend when sitting with any wholesaler to ask these questions:

1.) What is your farm area and where can I expect to receive properties?

2.) What type of analysis do you provide with your opportunities?

3.) How are the transactions structured? 

4.) What feels are involved with the acquisition?

I think it's always best to set some expectations so the relationship is crystal clear. Best of luck to you!

I haven't heard of Maverick, but I am familiar with this business model. I've heard very positive reviews about Turn Key Philly and I've had a few conversations with Josh Wiedman (the principal). Knows his stuff. I'd check them out and maybe ask Josh if he's familiar with Maverick. 

I came from the San Antonio, TX market where Owner Finance is a very popular transaction. As opposed to or in addition to the course, I would find a real estate attorney well versed in the correct and legal way to conduct Owner Finance. Different states have deemed "rent-to-own" unlawful. There's a right and wrong way to do it and I've seen the state come down on a few abusers.

I did notice the website was very basic... first blog post was 12/1/15 so this may be new venture and it may be a 1 man show. They could very well be legit, but just a red flag for me.

@J Scott Perhaps you misunderstood. We would absolutely not keep the deposit. We would do whatever our client asks with the deposit, refund the full amount or transfer it to another deal of their choosing.

Sorry for the confusion. Ethics is our #1 priority and I'm happy to clarify!

Jason- 

Thank you for stressing some of your concerns on this thread. Non-refundable down payments is a common question we get and this is a great opportunity for us to address these concerns so everyone has a clear understanding of how we work!

We would never remove you or anyone from our list for offering feedback on our deals. We welcome your feedback! I believe the agent you were working with is no longer at this location.

1.) It is true, we do take non-refundable deposits on our deals. It's untrue that we accept multiple deposits on the same deal. The only instance that we'd accept another down payment on a deal that has been sold, is if an investor was adamant about placing a back-up contract. This does happen from time to time (because they're highly desirable deals) and a fully executed contract detailing deposit terms goes into play. It sounds like that may be what you're referring to. 

2.) It is true that we do have a closing cost reimbursement when investors purchase from us and it's partly why we price our deals so aggressively.  It isn't true however, that we don't fully explain this. Before we show any houses to anyone, we sit down and go through every aspect of our transaction and make sure that the investor is educated on how we operate and has all their questions answered. Much like you did, Jason when you came and sat down with us. You signed a disclosure statement that went over in length how we operate. Perhaps you forgot the initial meeting as it was some time ago.

3.) I know you haven't been receiving our deals for quite sometime so you may not know the amount of off-market gems we make available to our investors. Your figure is inaccurate as to the percentage of off-market opportunities and it's partly why so many investors LOVE working with us. It's also why our deals sell so quickly. I would say the last 90 days was around 40% off market. We would never claim that our deals are ALL off-market. 

4.) I encourage everyone to do their own due diligence on us, just like they would a property. Our website and even BP threads have great feedback from investors (that we've actually done business with) which is why we're able to provide 15-20 opportunities per month (in Philly alone) to them and why most come back to buy again! We probably did over 200 deals nationwide, last month and we're able to maintain this momentum from doing good business and making customer service our #1 priority. 

I've shared all of this on the phone with you directly and prior to this post, but I do appreciate the opportunity to clarify some common concerns in the investor community! 

I'd be happy to discuss any future concerns (in any market). Please feel free to contact me!