New Western Aquisitions

[Josh Norell]

Has anyone had any experience with the wholesaler New Western Acquisitions in Colorado? I've read the other thread about peoples experience with them in other states, and it seems to be overwhelmingly negative. Over estimating ARV, underestimating rehab, etc. Just wondering if the Denver branch, and their Colorado deals are similar, or if people are seeing good margins on them?

I'm new to flipping/rehabbing, and I'm learning to estimate rehab, ARV, and all the costs that go into doing a flip. I realize you need to do your own due diligence, and not not trust a wholesalers numbers. Some of the deals that they put out seem to have some meat on the bone when I ran my numbers, but I'm speaking from inexperience. Hoping to hear other peoples experiences with NWA.

[Jeshua Patrick]

I just had a call with one of New Western's agents in the Charlotte, NC area. After discussing the types of deals I was looking for I asked her directly about the way they do business, namely that it was high pressure, that they make it difficult to do due diligence once under contract, etc. She admitted that all the things I had read were true but didn't see a problem with that. She stated point blank that their contract states that all due diligence must be done prior to going under contract, that once under contract all EMD money is non-refundable, and access will only be granted while under contract if the property is vacant. She also stated that most of their deals are going under contract in under an hour. Based on our conversation I took a hard pass and would not recommend them for newer investors like myself but I can't say that an experienced investor couldn't have a good experience with them if they are accustomed to buying sight unseen.