All Forum Posts by: Albert Wright

Fiduciary > salesman 

Flat fee < 5-11% commission

I strongly encourage NOT paying a RA or brokerage DST commission, which is why I used and recommend Sera Capital. They act as a fiduciary, and they charge a flat transaction fee regardless of investment amount.

It is my understanding that you can give Latchel a customized vendor list although my solution was to fire Great Jones (who outsourced maintenance to Latchel) and hire a local PM with real people and real local vendor relationships.

I am still waiting on Latchel to explain why they seem to be ok with a "Preferred Vendor" middleman (who pays to be assigned work by Latchel as an FYI) materially altering a subcontractor's invoice for repairs at one of my properties. 

The company who actually fixed the HVAC charged $268 but the "Preferred Vendor" middleman modified that invoice to include 6lbs of freon (not on the HVAC sub's invoice) and charged me $700.

Latchel probably works fine if you force them to only use your vetted contractors, but I have zero respect for Latchel's "Preferred Vendors".

On one of my homes, Latchel claimed to have called eight HVAC vendors between 8 & 10pm on a Saturday night. When those legitimate HVAC vendors didn't respond immediately or commit to resolving the undiagnosed issue within 48 hours, Latchel sent "LUGGHOME" (nothing comes up when Googling LUGGHOME btw).

I authorized UP TO $175 and requested a call from the contractor after the diagnosis. LUGGHOME sent an invoice for a "Minimum Service Charge $700" and never called. Whoever actually went to the house claimed to have found a short at the compressor and added 6lbs of freon.

Latchel is probably fine if they only triage to our previously vetted contractors, but if "LUGGHOME" is their version of a "preferred contractor", I am out.

Max, I was just billed for an HVAC repair that I had authorized for up to $175. When I received the invoice, I was surprised to be billed "Minimum Service Charge $700" by an unidentifiable entity not even Google could find called LUGGHOME. Who/what is LUGGHOME and why wasn't a local HVAC company sent?

Thanks for clarifying Mindy! I purchased my DST via https://seracapital.com/1031-e...

Carl assisted me as a fiduciary consultant instead of a DST salesperson hoping to earn 6-10% commission on (actually out of) my investment. Once we identified the appropriate DST, I paid Sera Capital the prearranged flat fee and they instructed the DST sponsor to add 100% of the sales load into my investment.

@Rick Kane Unfortunately, posting links and/or contact info is prohibited outside the "marketplace". 

However, my flat fee DST purchase was a smooth experience, I saved $$$$s, and I would be happy to share if you pm me.

I am in the process of closing a 1031 DST transaction with a "flat fee" broker. Instead of paying a percentage (load) of the total investment, they accept a reasonable fee for their services and credited the load back into my DST investment. I will be happy to share if anyone is interested.