Networth Realty and 212 Loans

[Salvatore Tardio]

My son and I are in Arizona and we are considering signing up with Networth Reality to possibly do our first deal. Networth seems really convenient by having the property and financing put together and ready to go but a little caution light goes off in my head when things look easy.   Nothing's for free so I'm wondering if the attraction of having homes handed to us without effort isn't paid for by an inflated property price and a higher cost of financing?   We all know that It's expensive and discouraging to learn the hard way so I'd really appreciate anyone's input concerning the properties offered by Networth and their 212 financing, which you are required to use.  I am not implying that anything is wrong with Networth and I'm not criticizing them for wanting to make as much profit as possible, as do I.  Business should be a win/win situation, I just want to know the good and bad experiences of others so we can be reasonably sure before we make any commitment.  In addition f anyone can share any wholesalers or hard money lenders we would really appreciate it.

[Michael Ehmann]

I've gotten on the list for New Western in my area (similar business model to NetWorth). As a new investor, I've found the experience to be positive overall.

For new investors, it can be a great way to see some deals, learn more about your market, and get some new perspectives.

In general, I'd advise to trust but verify. Do your own analysis on the deals - don't just blindly trust the ARVs and rehab estimates (if you're looking at their rehabs). In my experience, some have been good and accurate, and others have been more questionable (again totally my personal opinion - the deals I've found questionable may work for some people).