Did you purchase a Wagner Nolasco turn key B2R Direct property?

Question

I would like help vetting B2R Direct. So far I like what I've heard on podcasts about these build-to-rent properties and would love to hear from anyone who has dealt with them and their FL properties.

Thank you

Martin Dal Farra · Answer

Hi Michelle,
Yes I purchased a property at Bennah Oaks too so happy to meet you and share our experiences. I travelled to the site on December...(I live in Buenos Aires, Argentina)... works were starting, pipes, trucks, machinery etc. The site is beautiful and resourceful ... I visited the surroundings by car with a friend... I believe they´ve chosen an excellent land for this project.
I also went to meet Wagner and his team personally at their Orlando office. Very good impression, we spoke for almost an hour. I´ll be travelling again in a couple of months.
I also visited homes from the developer in other markets (Sebring) and had a good impression too.
So far so good, we´ll keep in touch!
Regards
Martin

John M. · Answer

Wagner Nolasco does not appear to be professional.  He gives off sleazy used car salesman vibes when communicating with him and I worry about giving him any money only to never hear from him again.  Not someone I would recommend doing business with.

Naresh Vissa · Answer

I am helping investors who paid deposits with Wagner Nolasco / B2R Direct.

They will supposedly first pay you back your initial earnest money with interest within four weeks of signing their NEW RELEASE AGREEMENTS as a show of good faith if you get in touch with their attorney (send me a private message so I can send you instructions to get in contact with their attorney), and then the remaining outstanding deposit with interest within two months after that. I highly advise you to contact me immediately via private message to get the refund process started. It looks like they are sending out refund contracts kind of on a first-come, first-serve basis, with some levels of priority because there are so many investors in these deals, which is why I'm posting this to get moving on this ASAP given the number of investors who are jumping in for refunds.I do not recommend you stay in this deal because they will be raising prices. It's best to get your money back with interest. I do not recommend you spend a lot of money to get an attorney. We are not at the stage yet where you should spend tens of thousands of dollars on an attorney filing a lawsuit or requesting arbitration. I know many people have lawyered up, and they’ve gotten nothing of value back in return for their legal fees.

Please private message me, and I’ll forward instructions to get in touch with the attorney on the case who will process your cancellation and refund with interest. There is no cost to you to do this. Attorney fees are paid by the builder.

Carlos H DeOliveira · Answer

January 2024, and still as of now they haven't start construction and supposedly because it's a new year, all approved permits have to reapplied since they never started construction.

More delays...

Martin Higgins · Answer

I saw this, have you gotten any update on their production?

Martin Dal Farra · Answer

Thanks michelle, quite on the same page. Price increase may come so i´ll go over the numbers again if thats the case. Cash flow is the main goal!. Greetings.

Michelle C. · Answer

I am going to wait it out and hopefully it is completed by the end of this year. Not ideal having my down payment held for two years without any production but at this point I don’t want to back out.

Martin Dal Farra · Answer

Hi! As you might already know Bennah project is experiencing huge delays. Any comments on this? Closing date is undefined. Credit crunch is on the way and Im trying to figure out possible outcomes for this project. Would like to know your comments and share our plans moving forward. Greetings. Martin

Md Khan · Answer

Hi @Wendy Stclair Interested in learning if you got your Nathi Condo for your 1031 on time or not. Thanks.

Wendy Stclair · Answer

I have an update on my post above re Bennah Oaks and the Wagner Nolasco team. I am a 1031 investor and initially signed with them for Bennah Oaks to hopefully invest with my 1031. Standard construction issues caused their project to push out a few months and California real estate being as strong as it is, my house sold in a minute. So I was left with 2 investments and nothing for my 1031. Wagner called me as soon as he knew and we talked - he offered to let me out of my contracts, and offered also 2 alternative properties to me he had on the side I could get right now - no pressure either way.  I crunched all the numbers, he gave me time to decide.  In the end, I decided to keep them both (outside my 1031) and take one of the NATHI condos in Palm Bay coming available this July for my 1031.

I then visited last week both sites and his office in Orlando, meeting him and his team. The construction sites look very good. Okala is beautiful!  In their office in Orlando, the team was all very welcoming and happy to have me visit. They have a family-like comraderie.  Wagner had good rapport with all of them - he was very busy  but took time to sit with me for an hour, along with his team. They all appeared very genuine and committed to the success of their projects and the happiness of their clients. They will have for these new projects their own property management arm, an insurance option as well i'm told.

So bottom line is my experience with Wagner and his team has so far been stellar.

Did you purchase a Wagner Nolasco turn key B2R Direct property?

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