All Forum Posts by: Michael Valerio

Disclosure- I am a Broker at NWA...

@Jay Hinrichs What part of Oregon did you fund the properties for your partners that were purchased through NWA?

Thanks @J Scott for clarifying.  

That's exactly what I assumed from earlier @J Scott when I mentioned this was probably mistaken for another company.  Soo, I'm sorry you had to be bashed by someone who mistook you for someone else.  Probably good for an apology...

Disclosure- I am a broker with NWA 

@Jay Hinrichs one avenue that nearly all investors use to purchase property is through the MLS. If an option or inspection is negotiated on our client's behalf, then utilizing it for potential exit strategies (i.e. reselling to another investor) is pretty commonplace for anyone in the marketplace (with the exception of typical consumer homebuyers). The MLS i simply one of many avenues used to find distressed inventory. Rehab estimates are nothing more than opinions... typically based on the exit strategy that is deemed most profitable by the comps used to derive the value of the subject property. While one opinion on a property might be to put custom cabinets and 3 inch thick granite in the kitchen, the comps in the area may have formica and standard builder's grade cabinets. Also, prices can vary greatly depending on the contractor's "management fee" and cost of materials from where they are bought.

While a deal or two might not have been for some, I can attest that there are 50 satisfied investors we work with standing next to every 1 investor that has an opposing point of view. We wouldn't be in business and we wouldn't be exponentially growing year in and year out if we were a company to "run from."  It just gets a bit tiring hearing this from the same few people over and over Jay. It wouldn't make for a lasting career.  In fact, I don't think we could be more up front with our customers than we are.  It is precisely why we require a face to face meeting with our so called "newbie investors."  We make it clear that investing in real estate is difficult and if not done correctly you WILL LOSE MONEY. It's literally stated that bluntly on our disclosure.   I wouldn't represent myself with an organization that cared more for the bottom line than it's investors.   Again, please reach out to me so I can address your issue and make sure it doesn't happen moving forward.  

Disclosure- I am a broker at NWA.  @Jay Hinrichs,  I'm sorry to hear of the "first hand experience" you had that didn't go so well.  I'd love to hear more about your concerns and issues you dealt with.  Please message me and let me know who you dealt with and what the problem was.  I can't speak for all offices, but I know from the offices I've managed and the core principles that are instilled to all offices, that profit is generated from a set price, down.  There is a limit on the value to price and profit is to be generated below that threshold. Meaning, if the GM only allows a deal to be sold at $50k (for example), then the acquisitions associate needs to buy it below that... And trust me, there are plenty of times where New Western makes less than 3% of the equity left on the table for the investor who purchases a house from NWA.  

Jay, I couldn't seem to find you in our database, by the way... I'm curious as to how you were able to come across our deals or learn of our process without signing a disclosure to gain access to our inventory.... Are you sure you're talking about the right company? 

disclosure ^ I work at New Western

New Western Acquisitions is looking for an Investment Sales Associate to join our fast growing and innovative team. New Western Acquisitions has become one of the largest real estate companies in the nation. Sales Associates play a crucial role in our success as they are constantly meeting with investors and building fast relationships while consistently closing deals.

This might be a good job for you if:

✶ You enjoy building long lasting relationships

✶ You love taking on difficult challenges and finding creative solutions

✶ You are cool under pressure. You don’t get flustered easily

✶ You communicate clearly. You can explain just about anything to anyone

✶ You think on your feet. You like learning new things, and you can learn quickly. When things change, you’re quick to adapt.

✶ You are motivated and driven. You’re going to take ownership of the time you spend with us and truly make a difference

✶You enjoy being your own boss

✶ You like unlimited income potential (all uncapped commissions)

As a Sales Associate, a typical day might include the following:

✶ Making outbound calls to potential investors and setting in-office meetings to better understand their long term investment goals

✶ Meeting with contractors to gain a better understanding of the construction background to enhance their knowledge on single family rehabs

✶ Presenting and selling company acquired properties by establishing contact and developing relationships with prospects recommending solutions for their investment strategies

✶ Attending team meetings and sharing best practices with colleagues

New Western video: https://youtu.be/FAxuPwDj_Os

👍🏼

Hi there Chris,

Congrats on your first step toward investing in real estate!  Pinellas County is arguably the best area in The Greater Tampa Bay area to be investing.  BP has plenty of resources to guide and direct in your endeavors.  I'm in the St. Pete area.  If you ever want to chat, feel free to hit me up!

Hi there Bigger Pockets people!

I am wondering if there are any local banks in the Tampa Bay area that provide some type of blanket lending, LOC, or any product for financing on smaller purchase price rentals. In Texas, there are tons of local banks that provide a multitude of products for this type of rental strategy. Anyhow, if anyone is aware of a lender in town that will offer long term financing for $25k-$35k purchase price for Section 8 rentals that go for $800-$1100 a month, I'd love to chat with them.

Thanks!