All Forum Posts by: Hanna J.

@Chris M.

Good points! I do agree that anything that's beyond the control of the agents or lenders can happen, of course. And it's sweet of you to watch out for your clients and obviously having contingencies is important. 

I am not trying to convince anyone and I certainly do not try to convince my clients to do anything. But I believe it's still my job to explain to my buyer clients about the market and what's really happening in real life. If a buyer really wants to buy a certain property, sometimes there's just no other option but to remove all contingencies unless they want to throw another 20k-30k into the purchase price to stand out. And on the flip side, I see a non-contingent offer with lesser price win over higher yet contingent offer. It is uncomfortable but it is what it is, and  I am just sharing what I see and experience in the market, but certainly not trying to convince anyone to do anything. Hope it's clear;)

This is a very interesting discussion for me as a Realtor and an investor^^

As a Realtor in the city of SF, yes arguably the "craziest" market in the US at the moment, I have to admit that having a proven lender in your team and reducing-if not removing- contingencies are the the most important things I need to work on when working with buyers. I know it's not in buyer's immediate interest if we have to make a non-contingent offer, but it's for their ultimate best interest because otherwise buyers will never "win" a property which may become 15% more expensive in the next 12 months. And many times, buyers end up paying more if they have contingencies, to win against other cash or non-contingent offers, so I often wonder whether I am actually helping my clients by adding contingencies in this market...

I try to disclose as much as possible and explain why we need competent lenders and no contingencies, but I can see that many buyers esp first time buyer are skeptical until they lose a couple of properties they loved over non-contingent offers...

And there's no monetary compensation received from my lender whatsoever. The only reason I would refer my lender is because I trust him that he will do a good job and actually close the deal!

On the other hand, as an investor, I do sometimes question the things my agent or lender say when purchasing a property for myself, so I understand it's only natural to be cautious as a buyer^^

Good luck!

I was looking for a roofer and will contact both of them now! Thanks a lot for creating this post^^

I honestly have a mixed feeling about RWN.  I do support and appreciate their role as a mniddle men to introduce many different markets to investors like me who would not have known about them if it were not RWN. And I have no problem paying for their services and education. On the other hand, I personally had to go through so much trouble with local teams esp regarding the property management,  I am honestly still hesitant to purchase more properties from them. It's good to have an "expert" who takes care of properties for you, but this plan only works when you're dealing with a true "EXPERT."

Chicago(bought in 2012) - Very Satisfied

I am pretty satisfied with the return on my Chicaco property which almost never has any maintenance issues. I have to say they indeed do the full rehab and are a good property manager. I honestly don't care if it's a C neighborhood as long as my PMs do a good job of sending me solid checks every month which has been the case for the past 3 years.

Dallas(Bought in 2011) -Not Satisfied

I really can't say many good things about the Dallas vendor that RWN worked with at the time. As Kathy already mentioned and now I know what happend to them, the team didn't perform very well and over-priced(even for a turn key provider) their properties in my opinion. They were not responsive and negligent, so I suffered a lot from vacancy on the property I purchased from them. They just couldn't find the right tenant for the property and some tenants literally flew by night and PMs didn't even notice until I called them to ask about the rent payment.  When I switched the property manager, I could finally find a stable tenant within a month and that tenant stayed over a year, no big issues. I realized that it was the property manager who indeed screw things over big time.

Memphis (Bought in 2010, 2011) -Not Satisfied 

I bought two properties from Memphis Cashflow introduced by RWN and I ended up selling one of them after a couple of year, since it was in a C neighborhood and I just couldn't handle the drama, constant maintenance and vacancy. I went back to Memphis Cashflow to take it back at the same price I paid for but they refused to do so, which really pissed me off. The original PM on that local team was also very bad so I had to switch the PM a couple of times which was a total pain. The agent with Memphis cashflow at the time though was a total nightmare, and I couldn't believe how rude and not responsive she was during the process of buying the property. I was new so I probably asked many stupid questions but still, it was a horrible experience for me to work with an agent like her so I really didn't want to deal with this particular vendor again.

The other A class property I bough from them though is performing well and I am satisfied with that property till today.

Overall, my experience with RWN itself was wonderful and Kathy was absolutely a fantastic person to work with. She indeed helped me communicate well with the local team when I had issues, but what I found out was that at the end of the day, it's your property afterall, so no matter what Kathy or her team does, it's still your responsibility to handle whatever issues that come with the property.  RWN probably is no longer working with the teams that I had troubles with, but there's always a chance that things get sour with any local teams which probably is just one of the risks of investing in general, I guess;)

Hope my experience can be helpful to new investors!

thank you Bao!

Hi Guys,

Do any of you know a good eviction services or attorney in DFW TX area? I have a couple of rentals I self-manage from SF CA, so I want to keep good contact info for the eviction just in case^^

Please share if you know anyone good! Thanks~