Western Wealth Capital: What do you know about them?

[Josh Cochran]

They have a new offering as of 2/27/2019

What do you know about them?

Have you invested with them in the past?   What was your experience?

Thanks in advance.

[Ben Leybovich]

Janet is a well-known operator in Phoenix and parts of TX. As @Sam Grooms mentioned, we've competed (unsuccessfully) against them in the highest and best.

Everyone has their "tricks of the trade". WWC likes to create several levels of value add in a community, with various levels of interior improvements. Perhaps one level is just to clean up the unit and install new appliances. The next level up might be to reface the cabinets. Another level might be to add tile backsplash and stainless. They also like W/D install.

In general, I am not aware of anything bad. They seem disciplined, and like Sam said good underwriters. I don't particularly love the methodology for this cycle, which is reflected in Sam and I are doing things very differently, but this is a matter of opinion. There's enough for everyone.

As to the fees, we can argue either way. However, these fees tell me that Janet wants to get paid, and while some of the fees may be on the high side I see nothing wrong with it in general. What we do is hard work and a lot of responsibility. And, ultimately, she is raising the money, which means that enough people trust the prospects of her performance.

You simply have to decide where you stand and play or pass.