All Forum Posts by: Harish V.

Avoid Grocapitus and financial attunement. They are just sales people for other firms that do actual work.  You will not see your money back.

Guess no one has positive experience. It’s rather new company so unlikely to have successful exits. I have experience with financial attunement, the firm where Neil Bawa of Grocapitus was before. I did not have good experience. Posting this response to help and warn wandering souls. 

Interesting: 

Morris Invest: How to Get Started Investing with $30,000 - YouTube

I have invested with financial attunement (Neil Bawa was a partner at the time), emails still include him. Like most other places, the projections were rosy, everything seemed to be going fine in terms of work. However the deal is running several years behind schedule. Lenders cannot be found. For 1 year nothing is happening. No  return has come out. I am skeptical. Just want to put it out there. 

You should not read any reviews given to you by solicitor/advertiser. You need to talk to people directly and find full cycle experience from start to exit for syndications. It may seem syndications do not earn till they exit. However once money is given, no one knows what is going on. Syndication may spend your money then loose interest as an example and move on to next deal.

Also, if they tell you, we are full but one spot is available, beware you are being played.

Good luck to anyone who invests with SDIRA Wealth a.k.a. Growth equity group friends of Morris Invest. Read the forums. If you did not do independent appraisal and inspection, you experience what 170+ investors experienced. Its matter of time.

Some links in this other thread.

Turnkey Company via SDIRA Wealth (biggerpockets.com)

Good luck to anyone who invests with SDIRA Wealth a.k.a. Growth equity group. Read the forums. If you did not do independent appraisal and inspection, you experience what 170+ investors experienced. Its matter of time.

Turnkey Company via SDIRA Wealth (biggerpockets.com)

Avoid SDIRA Wealth and Growth Equity group like a plague.  Search up Growth equity group here.

Turnkey rental has potential to make a lot of money for those selling to you and managing property for you. If you must do it, follow strict code.  From my experience you want to do the following

1. Get independent inspection - do not accept the words of selling party, no matter how reliable. You need to get independent inspection. Also get independent appraisal done.

2. Double check rent, insurance, property tax and  maintenance assumptions - Model vacancy of 15 days per year. Model cost of renting + management. You should model to have new tenant every year. If that is not the case some years that will be your upside.

3. Some sellers may only tell you seasonal high rents and build model based on that. When season is gone, rents may be lot different. So build model based on average rents.

4. Never refinance through hard money lender. FHA or bank if they will finance it, I feel more comfortable. If you end up with hard money lender that's fine, but a bank should be willing to lend that will ensure loan to value and other performance metrics are good.

Good luck

I was told by some agents that unpermitted kitchen can result in insurance not covering damages. You may want to check that.

One can do it but, its easier if you have apartments, you know what's going on with your other units in same community and then you can handicap units based on size, location etc knowing historic data. Single family homes is much different. If next house gets a renter with aggressive dog (e.g.), your rent does down.

AtomData is surely too pricy for me.