Any experience with New Western wholesalers in Colorado?

Question

New to investing in the area and have been seeing a lot of posts from these guys but not sure if they’re reputable or not

Caleb Brown · Answer

Be super careful with them. Do your own comps and due diligence(as any other deal).They produce a lot of deals but I rarely see any that make sense. As other wholesalers there is no inspection period and EMD is non refundable.

Jay Hinrichs · Answer

I personally do not care for their high pressure model. I have funded a few deals that came through them and my client did very poorly with them.

U can use them for a lead source but UBER caution on your Due diligence and I would not let them talk you into the upfront non refundable deposits.. your not getting it back :(

Account Closed · Answer

The model they are using here in central Texas is you get an email on Friday, the open house is the following Tuesday from 1 to 2 pm and you have to make your bid by 3pm that same day using their minimum bid. Most that I’ve looked at over the last couple of years you are just retail price after you factor in repairs. Not worth the risk.

Adam Bartomeo · Answer

I will not work with them in SWFL. I know several investors here locally that feel the same way. They hire very pushy people who don't know their ass from their elbow.

Becca F. · Answer

Wow not getting your EMD back... I was contacted by a New Western rep on BP about 2 years ago, not for Colorado but for Nashville properties. She didn't call herself a wholesaler but a disposition agent and said, "We're a different kind of real estate agent"...no thanks.

Matthew Crivelli · Answer

Read the contract carefully. Really, have an attorney read the contract and advise you before you sign. I've seen lots of NW contracts that include a 15k non refundable earnest money deposit. Also, check with your lender on how large of an assignment fee they are willing to pay and if they will require the A-B contract prior to closing. Lots of times, New Western does not want to let the lender look at the A-B because of how large the assignment fee is.

NW is not all bad, and every one of there offices is a little different. (They are nation wide) You just have to be careful, check and double check everything (the contract, comps, the amount of rehab needed etc.) before you give the earnest money.

Tanner Pile · Answer

@Lauren B Czirr

They will pressure you hard and the comps they show you you will need to check yourself since sometimes they are not the best or most accurate comps.

John Krauklis · Answer

I have bought a few properties with them. They were easy to work with and no surprises. They both worked out great! Message me if you have any other questions.

Any experience with New Western wholesalers in Colorado?

Any experience with New Western wholesalers in Colorado?

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