All Forum Posts by: Nathan Cron

@Juan Michael Thank you Juan.  Noted.  I'll continue to make sure we work with our agents on higher education and customer service.  

@Michael Evans Hi Mike my name is Nathan I'm a Director for New Western and based in Southern California.  Like Zach, I am also available to talk and address any concerns or questions you may have.  My information is readily available or you can private message me on this platform.  We operate one of the biggest investor marketplace platforms in the nation servicing over 100,000 investors nationwide.  We operate with 50 different teams across 20 states and take pride in the services that we provide investors and the opportunity to revitalize communities nationwide.  The organization consists of over 700 agents with relationship building being the bedrock of our company.  I understand that threads like this are a byproduct of being very active in the market and welcome any feedback that can make our company better.  We're listening.  

@Renee Harris sorry for rushing you to make decisions.  We do move at a fast pace and understand that not every investor can match that.  In regards to your second comment, we cater to a very large database of investors that have multiple exit strategies.  Flippers, private individuals who want to be a landlord, funds who aggregate homes, people that buy because the house is located in their subdivision, etc.  We are able to distribute properties and convert them at higher levels than you may be able to.  That does not make us a bad company or even "overbid" as you suggest.  We will certainly get things wrong sometimes, like every real estate investor I know, but have a very high conversion rate.  You say your not "mad" at us but using strong language like "preying" on new investors is inaccurate.  If you don't like our product, don't buy from us. 

@Will Barnard I have a lot to say but want to keep this respectful. Please call me if you want to talk more. However, I need to address some of your comments. As a business owner, and competing in the same space, you may view this as an opportunity to drag a competitor through the mud. Number one, we do hire "rookies", vets, and agents in between. Don't forget that you were a rookie one time and your Brokerage EXP certainly hires the same caliber of person we do. New Western has onboarding protocols, training programs, New Western University, and several other tools that you and I can discuss offline to provide a general knowledge base to all agents. Two, we don't advertise ARV numbers or Rehab numbers on our marketing material. This is intentional. We want the investor to conduct their own analysis and determine if the opportunity fits in their portfolio. An individual with your experience is better off digging up your own deals like you suggest and spending your own marketing dollars. We are simply just a resource. Third and most important, Disclosure. I'd like to compare our disclosure protocol to what you have in place and see fit. Perhaps you are not aware of the measures we take to be transparent. EVERY time we purchase a property(MLS or direct with seller) we present and get signed a Notice to Seller that spells out exactly the nature of the transaction. I'd like to compare this to yours. EVERY time an investor becomes part of our database, they can not enter without having signed our very specific disclosure that outlines the criteria of the transaction and what to expect(I don't see you in our database so your not familiar with this and should not be receiving our opportunities). EVERY transaction we pass any and all knowledge about the property that we know and all disclosures from the seller that are obtained. Please let me know how you handle disclosure differently so I can improve the business.

@Matthew Crivelli I see your a lender. I want to be clear that we will NEVER share details from the prior transaction with you or any lender. It's inappropriate, the seller would not appreciate it and provides no value to you as a lender. The title/escrow company can verify the owner, if we have the right sell and any other information that a lender needs to fund. We are a for-profit private business that does not need to disclose our profits to anyone. You'll be happy to know that we have lost on deals as well just like every real estate investor I know. We work VERY well with lenders nationwide and do not dictate who the investor uses. As stated above, we don't share ARV or rehab numbers with you. Do your own due diligence on the deal.

Sorry for the rant.  I'm ready to talk to anyone that wants to have a discussion.  It makes our business stronger when we listen and adjust to what the audience is telling us.  Our agents and team are strong.  Our 4.9 Glassdoor rating out of 629 reviews can verify that.  We have been tagged as a Best Place to Work by many outlets including Glassdoor.  We just made the INC 5000 list for fastest-growing mid-size companies.  We care about our reputation and the service that we provide to the investment community.  

I have an unprecedented opportunity in our Los Angeles and Orange County offices for Disposition Agents to manage a large clientele of real estate investors.  If you have at least one year of real estate experience with a California License you may qualify for our Acquisition Agent position. This would consist of tackling off market leads and searching MLS using proven techniques for additional properties for our investor network.

I'd like an opportunity to explain why this is such a unique and great time to join our team.  Go to www.NewWestern.com/careers/ to apply or message me directly at [email protected] for more details.

Sorry we're not adding any value to you @Lawrence Rutkowski.  I'm happy to sit down with you and hear you out how we can become a better business.  I've addressed many wrong accusations on this thread with no prevail.  Let me know if you want to sit face to face. You can send me a private message.

Investment Info:

Single-family residence buy & hold investment in Round Rock.

Purchase price: $137,000
Cash invested: $35,000

Buy, Fix & Hold in Round Rock Texas.

What made you interested in investing in this type of deal?

Affordable area that can cash flow.

How did you find this deal and how did you negotiate it?

Industry Professionals

How did you finance this deal?

Cash

How did you add value to the deal?

35K in renovations

What was the outcome?

Currently holding as a rental property.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. One of my industry contacts located the deal for me. Worked with contractors to get it rehabbed. Property Management for the leasing side.

@Arissa Pedroza New Western does NOT require a specific lender.  We never have.  We partner with all lenders that can get the deal done with the exception of a couple companies that have not performed for our investors.  You are referring to one of our competitors in the market. Currently this month we have 12 different lenders we are working with out of San Antonio.

@Avtandil G.  I appreciate you doing your homework.  Wiring to the title company is fine but a release of earnest money is signed at that time.  Once you commit to a property your money is nonrefundable per the terms of the contract.

@Danny Webber  Wow thanks for the support Danny.  You will not use us yet we've been sponsoring your "guru" event for years.  Not to mention you've brought us property to sell for you.  And you know we don't determine the lender used.  We use almost all the vendors at your meetup.  I remember when you were sitting in our conference room telling us about how we can do business together.  

@Linda Weygant Im the broker of the New Western office in San Antonio and very involved in our Austin market.  I've now seen your post on BP several times on how we are a "pain in your butt".  I spoke with the Denver general manager yesterday on how to become a better asset to the investment community in Denver.  Please know that all offices are independently managed and have various levels of expertise running the shops.  Full disclosure, I am not very tuned in to our Colorado market but I have now seen your post again directly related to San Antonio.  For the past 8 years we have been working diligently providing value to the San Antonio investment community.  Check out our Google Reviews, Yelp page, Facebook reviews or come to the office and look at the 100+ testimonials all over the walls from satisfied clients.  Year to date our inventory in San Antonio has been 76% off market and 82% in Austin.  We are surfacing deals for the investment community that are very hard to come by and delivering them to our network of vetted investors.  We have initial in office meetings with ALL investors that want to become part of our network.  We explain nuances about our transaction and understand what the clients strategies and goals are.  The office does not consist of "a million jokers" rather 14ish licensed agents with extensive 60 day initial training period.  Our agents certainly are aggressive and taught various techniques to locate real estate investors.  Im sorry that you keep surfacing on our list.  I will make sure the Denver office has you blacklisted to reduce/eliminate the calls that you may receive.  Agents are simply being resourceful, as we know to be the best, we have to do things that other agents are not willing to do.  Like make cold calls and knock on doors. I'm open to any advice you have may have on how we can improve our business.  I never knock the community for pushing the envelope and stepping outside the box.  Based on your post, you have issues with us going to meetups, cold calling investors, having branded polos and having branded business cards.   Perhaps you can educate me on the techniques that you utilized to create such a successful business.  You state that "we want you on our buyers list" but in reality, we only want people that value us on our buyers list.  We're simply just another resource for investors.  Sorry that we do not mesh with what your goals are.  We'll make a conscious effort to stay out of your way.

If you'd like to discuss this matter in more detail you can call me or "swing a dead cat".  

@Avtandil G.  Thanks for researching us.

@Tom Cooper Thanks for calling me out on that Tom. I'm the general manager and broker for our Austin and San Antonio offices. You won't see an ARV on any of our marketing packets. Hope you see something you like soon.

@Steven Mitchell We don't disclose ARV information on any marketing material and haven't for the past 2 years. You have to directly ask the associate for their opinion if your interested in what we think. This is in an effort to have all investors come up with their own values and analyze the deal effectively. You say "our" foundation bid was 10K off but please understand we rely on industry professionals just like you should. What did your bid come back at? Im willing to bet you didn't get one. The bottom line is that you left out major steps that needed to be conducted to determine if the investment was wise. It appears you have a track record for this.

No foundation bid, no ARV, no due diligence, lenders laugh at you = Dont buy!

Yes,  Realtors are salepeople.

Smart ARV? You are advertising the ARV $4900 less than we anticipated

Understand that the information you put on the MLS listing exposes you and the listing agent to extreme liability. You're standing by numbers that are subjective. Those are your opinion. You say that you want the new owner to know what they are getting but the Sellers Disclosure is filled out terribly. On section 4 of the Sellers Disclosure you have N/A and never once mention foundation issues. Thats a disservice on your end and a direct violation. I see at least 3 errors in the SD that goes against your above comment and can land you and the listing agent in hot water.

I know I cant turn you into a believer Steven and thats fine.  I'm going to stand up for the business every opportunity I get.  We are good people, doing good business.  Happy Investing!

@Steven Mitchell  Sorry for your experience with New Western Steven.  I'm the Broker and opened up that office 6 years ago.  We take pride in the value we add to the investment community and contribute our success to the long term relationships we've established.  We certainly aren't the fly by night company.  We're here to stay and a major contributor to the investment community.  

Just to clear up some policy issues with you Steven, 95% of our properties are sold to local investors with boots on the ground.  We want our investors to make educated decisions to the extent that we make you sign disclosures prior to being part of our network highlighting key points about investing like performing your own due diligence, title, as is, etc.  My understanding is that your project manager walked the property and gave you the green light.  After determining the foundation was more than anticipated, you fire sold the property(not smart to put your opinion of value and rehab cost on the mls listing).  After losing money on 7 properties its important to take ownership and accountability.  There's another kink in your system.  New Western is not your problem.

We try to take every precaution as a company to safe guard investors against this exactly.  We have an initial consultation to understand goals and strategy, have mandatory disclosures recapping important points, do not allow "sight unseen" purchases (unless uber qualified, verified by Broker), verify private lenders prior to accepting a contract, and several other measures that we've learned by listening to our clients throughout the years.  

We have a lot of happy, successful, repeat clients that we enjoy doing business with.  We provided 280 investment opportunities last year to local investors of which 54% were off market.  Sorry you couldn't see the value in us Steven.  I want to personally extend the olive branch to anyone in the community that is skeptical about our services.  We are simply another avenue for you to locate distressed real estate.  That's it!  I'm open to a phone conversation or a sit down meeting to discuss your investing needs.