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Updated almost 6 years ago,

User Stats

8
Posts
19
Votes
Jeannie G
  • Boulder, CO
19
Votes |
8
Posts

Bad experience with Norada - any other recommendations?

Jeannie G
  • Boulder, CO
Posted

Hello, I purchased a property in Kansas City through Norada last year. They are nothing more than a middle man that earns commission by connecting you with flippers in local real estate markets. I did not have a good experience. The property I ended up buying was a townhome and two months after purchase I received a letter from the HOA lawyer stating that there are not allowed to be any rental properties in this complex! No one caught this, Norada did nothing except to say that they had never had this happen before. They have not helped me at all to try and fix this, although they earned commission as the selling agent. I am still trying to work through this mess, and my best option at this point is just to sell the property and lose money. I would never work with them again. They do not stand by their investments. This may have been just a fluke, and I may have been unlucky, but I am warning everyone I know not to do business with them. They have not helped at all or followed up with me.

So, the question is, does anyone know of any other turnkey companies in these markets: Indianapolis, Memphis (besides M.I.P.) or Cleveland that they have first hand experience with? If so, please post a recommendation. Thank you! Looking to invest in one or two properties this year. 

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