NETWORTH Realty Tampa- Worth it or not?

[Krishnan T.]

We had a great meeting with a real estate agent from Networth Realty. They seem to provide a service that would be very useful to a first time investor, like ourselves. On top of selling us a wholesale deal, they provide access to a short term hard money lender (212 Loans) with rates as high as 13%, they also have connections with vetted contractors. They provide comps, projections, rehab estimates, and rental estimates. 

Any advice on the following questions:

• Has anyone done any deals with them in the Tampa Market?
• Any suggestions on Hard Money Lenders in the Tampa area that are reputable? 
• Is a wholesaler worth utilizing for our first deal? Our market is starting to bubble, and we are having an issue finding listed properties through our traditional agent. 

Thank you for your help in advanced! :-)

[Account Closed]

@Krishnan T. 

I have meet with them also and even though I did not end up buying from them yet .. I will tell you this .. 

The properties I looked at and the figures they gave were pretty accurate compared to most wholesalers I have delt with ..close enough really with their rehab numbers that I could do my calculations off those numbers and Im pretty sure I would feel pretty comfortable about making a offer if a property come up that i am interested in .. 

Of course, I would include a Due Dil period in that offer ... 

One thing i didnt do and might still is ask to speak with a few investors that have purchaed a property from them .. say.. a yr ago or so .. that way , You can ask the. How the whole deal ended up .. was it good . Would they purchase from them again .. kind of like your doing here .. 

Their margins are not the highest but with the market being as tight as it is .. if their numbers are even within 5-10% of were they end up .. then there should still be a profit and money to be  counted when the dust clears .. especially seeing how they help sell the property also for .. correct me if im wrong .. 1% listing /selling fees .. 

Ya, .. I hope to defiantly do some volume deals with them in the future .. Im trying to grear my flipping business towards more volume with leasser Roi's ..but,  in the end I hope to make more Roi in the whole .. if you look at it for the year and not per deal .. 

Volume without sacrificing quality ..  

I wish you the very best and hope you will keep us all informed of how things go .. 

God Speed, 

Michael Short