Lehigh Acres - Renttoretirement (RTR) projections were a scam

[Vasudha Chaudhary]

I bought  a new construction with the Renttoretirement (RTR) platform in Nov-Dec'23 and regretting it big time! The numbers forecasted by them come nowhere close to reality. I took out a mortgage at ~7% and now simply burning cash. I have a property manager in place (one recommended by RTR) and he suggests (i) new build supply is way higher than demand (ii) realistically (if at all we find a tenant) we should target a rent of $2100 vs $2500 projected by RTR. For context, my mortgage alone is ~$2k/month. I feel duped and stuck. Anyone else with similar experience? Thanks 

[Jay Hinrichs]

I highly doubt they were a scam. One has to remember that rent rates nationwide have softened.

And its very common these days if your putting minimum down which it sounds like you did to have negative cash flow the first few years..

Also it is up to you as the investor to research where your buying . Lehigh acres has a LOOONG history of ups and downs and just a basic google earth search will show you there are 200k platted lots so Lehigh acres historically goes in cycles of over building then contrition etc. I first went there in the mid 80s and i was buying foreclosures there in 2009. when the last building boom was going in 2004 to 2007 until the big crash.

So for now you have a few choices sell and get what you can. Or rent it at TODAYS market rate not what it was 18 months ago and then raise rents as things tighten back up.

All these companies can do is present a product and give the financials at that time.. Its up to you to Verify them and to research where your buying and the history of the area . Along with supply demand which is an integral component of real estate investing ..

U cant just blame others if you never did your home work.