New Western Acquisitions (Reviews)

[John W.]

When inquiring about a property on craigslist, I spoke with someone from New Western Acquisitions. He wants to meet tomorrow..........Can anyone give me your thoughts if you have experience with them? what do they do? honest ect? do they want money? i have been to their website and know they have some presence here on bigger pockets, but I am looking for comments from 1st hand experience. Thanks for your help.

[Jason Stackhouse]

Hello fellow investors and questioners of NWA...I too have my own situation or conflict with NWA here in the Philadelphia market.

I recently met with their office manager, rep in their offices, signed their disclosure document and went through their deal structures just so I could be added to their list and see what they have.  I was told they get between 10-20 properties per month under contract so I was intrigued.  Well, to be honest with you, leading up to our latest issue, I only received about 2 deals in the past 3-4 weeks from them.

Okay, so the issue stemmed from one of the deals I did receive via email in which after starting my due diligence even before going to see the property, I noticed it was already listed on the MLS at a price even lower than what NWA was offering it to me for. (And all you investors out there, I'm sure will agree, that we would very rarely pay more for a deal at a higher price than what it is listed for on MLS, unless it truly is a great deal).

So all I did was sent an email back to my rep at the Philly office (Jon Voss), and asked him if he knew that the property was listed on MLS at a lower price than what he offered it out to me at. His response is as follows: (copied and pasted from my email) "I told you we purchase our properties from all different avenues. This relationship is not profitable for either one of us. I think it's best we just go separate ways."

And since then, which was Aug 27, 2014, I have been removed from his buyer's list and have not received any further contact from them.  So you tell me what that means or says about them as a company and how they conduct business.  It looks like they are preying on and making their business on newer investors who don't know better and are willing to pay higher prices for deals. 

Any thoughts or comments, feel free to contact me directly at following:

Jason Stackhouse
Stack Investments, LLC
484-467-6288 (cell)
[email protected]