JWB Real Estate Capital

[Brandon Shindler]

Curious if anyone has any experience with this turn key investment company? Thank you!

[Robert L.]

I can share my first-hand experience. They have a very large organization and manages hundreds of properties. I went ahead and took a chance on having them rent one of my properties and all I can say is to be very careful about having them manage your properties because they will have no qualms hiring service people for everything and, as the owner, you will get charged top dollar for everything. For example, if the lawn is mowed, the price was double the normal amount that I've had the lawn mowed in the history of the property. While it is vacant, they have regular cleaning done every 2 weeks whether you need it or not. I had only one showing and was charged every two weeks, of course. I visited the property and it was spotless...yet I got charged for cleaning on a vacant property that same week. With hundreds of properties in the management, it is a large customer service type of setup so you never talk to the property manager, but rather a client representative only. They do have friendly customer service reps, however.

Also, be aware that the property manager will never actually visit the property to check on it. They told me that this isn't to their best interest and found that it didn't really make a difference so they don't check on property (ever) except maybe a drive-by. Therefore, any calls they get from tenant just goes to a vendor who charges whatever they feel like--pretty easy managing...just answer the phone then farm out the work and charge the owner.  They are too big to pay your property much attention or try to save you money so everything is just hired out to vendors who charge top dollar.

So just be careful that your costs are totally out of your control. Also, as an owner, you are not allowed to do anything to help save yourself money...you cannot hire anyone cheaper or do anything yourself. I've never been charged so much money ever by a property management company.

One good thing is that they were able to find a tenant who signed a lease for 3 years, so we'll see how that goes.