FIG - fourplex investment group

[Scott Morgan]

I'm new to the site and would love to hear some success stories with people who have invested with remax/fig in Utah or Texas. They are building new fourplex units and advertising compelling cap rates in their pro formas. Any info would be appreciated. 

[Steve Theobald]

This is a short yet balanced review of FIG.  

1.  My brother-in-law owns two FIG four-plexes and is very happy.  (He has them manage the units, but it is not required.)

2. Based on this, I felt comfortable doing a screen share with with an investor client and one of the agents on the FIG team. I was very impressed. My client is still on the fence and has not yet moved forward with a new-unit reservation--but he wants unrealistic 30% CCR returns (at least for Utah).

3.  Another one of my clients had done extensive review of the FIG opportunity several months ago, and walked away before I met him.  I asked him why, and he said after many days of review, he determined that after all the fees related to the new construction loan were factored in, the true return was less than the advertised pro-forma.  I didn't try to argue with him or further explore the validity of his claims.

Few people look at as many on-market investment properties each week in Utah as me, and so I feel very confident in saying that FIG's pro-forma returns look totally awesome for Utah's investment climate.  

As I understand it, the great CCR and IRR numbers can be achieved (in part) because FIG presells the units and can negotiate harder with builders who can be hired to build multiple buildings instead of just one.  This is the magic, and I think it is genius.