All Forum Posts by: Jason Stackhouse

Vince,  I'm a local wholesaler and rehabber located in Chester County, PA and would be happy to help you out if necessary.  You have the basic formula correct above but it's a little more in depth than that.  Feel free to contact me any time to discuss further.

@Anthony Gonzales @J Scott Anthony you are full of #%^* by saying you guys 1) wouldn't take or ask for back-up offers and non-ref deposits on same deal because I was asked if I wanted to put in a back up offer on a deal (before I was removed from your list) and 2) that you would refund the deposit back if a deal closed and you had back up offers. 

Honestly, reading through this thread and speaking to many investors who have called me asking about your company, it's 100% evident you guys are complete wastes of time and I hope new investors will see these remarks before they even think of dealing with you guys. 

J Scott - don't believe for a second that Anthony and NWA would refund anyone's money voluntarily. 

@J Scott This is 100% true as they told me this directly and heard it from other investors as well who have put deposits in on deals where they had other buyers lined up.

BE AWARE WHEN DEALING WITH NEW WESTERN...I'm in the Philly market and have met with NWA about a year or so ago and was placed on their buyers list.  However, about a month later, when I questioned the #'s on a few of their deals, they got upset and in turn, removed me completely from their list. 

Now, if you are going to deal with them, which I wouldn't recommend, you should know about the following:

1) They do take multiple NON-REFUNDABLE deposits on the same deal and will tell you they will apply it on another deal - problem with that is who knows how long it will take to find another deal that you like but all the while, they have your $5,000

2) You should know that if you are buying a property from them, you will be paying all of their closing costs on the A-B transaction as well as all the closing costs on the B-C transaction.  You'll notice they don't fully explain this portion of the deal when going over the details with you.  Depending on the sale price, this could add another few thousand to your costs to purchase.

3) I'm sure you will notice but 80-90% of the deals they send are already listed on the MLS (which they told me none of their deals will be MLS properties when I met with them).

4) AGAIN, BE CAREFUL as I've spoken to numerous investors, mainly newcomers, who have had bad experiences with this company.

For NWA - if you'd like to contact me to discuss this and try to tell your side of the story, please feel free to do so.

Thank you,

Jason Stackhouse

Stack Investments, LLC

484-467-6288 (cell)

What does getting your RE license have to do with marketing?  It's really not complicated when marketing to find sellers - you can simply write a short letter stating you are interested in buying houses in certain areas and mail those to homeowners in your target area. You can also do this with postcards as well which are less expensive to send. 

So instead of overloading your head with all the info you can find, just get out there and start doing the things you know and have read. Go find a deal and you will learn what to do and what not to do. 

Jason Stackhouse

Stack Investments, LLC

What does getting your RE license have to do with marketing?  It's really not complicated when marketing to find sellers - you can simply write a short letter stating you are interested in buying houses in certain areas and mail those to homeowners in your target area. You can also do this with postcards as well which are less expensive to send. 

So instead of overloading your head with all the info you can find, just get out there and start doing the things you know and have read. Go find a deal and you will learn what to do and what not to do. 

Jason Stackhousr

Stack Investments, LLC

Michael,

Not sure if you are still interested in doing the 3,000 postcards but if you are, I'd love to talk with you.

Please call me at 484-467-6288

Thanks -

Jason Stackhouse, Stack Investments, LLC

I'm currently looking to purchase rental properties in the PA, NJ and DE areas that have seller finance options. If you, or someone you know, have anything that fits this criteria, please contact me directly at... Jason Stackhouse Stack Investments, LLC 484-467-6288 (cell) [email protected]

Hello fellow investors and questioners of NWA...I too have my own situation or conflict with NWA here in the Philadelphia market.

I recently met with their office manager, rep in their offices, signed their disclosure document and went through their deal structures just so I could be added to their list and see what they have.  I was told they get between 10-20 properties per month under contract so I was intrigued.  Well, to be honest with you, leading up to our latest issue, I only received about 2 deals in the past 3-4 weeks from them.

Okay, so the issue stemmed from one of the deals I did receive via email in which after starting my due diligence even before going to see the property, I noticed it was already listed on the MLS at a price even lower than what NWA was offering it to me for. (And all you investors out there, I'm sure will agree, that we would very rarely pay more for a deal at a higher price than what it is listed for on MLS, unless it truly is a great deal).

So all I did was sent an email back to my rep at the Philly office (Jon Voss), and asked him if he knew that the property was listed on MLS at a lower price than what he offered it out to me at. His response is as follows: (copied and pasted from my email) "I told you we purchase our properties from all different avenues. This relationship is not profitable for either one of us. I think it's best we just go separate ways."

And since then, which was Aug 27, 2014, I have been removed from his buyer's list and have not received any further contact from them.  So you tell me what that means or says about them as a company and how they conduct business.  It looks like they are preying on and making their business on newer investors who don't know better and are willing to pay higher prices for deals. 

Any thoughts or comments, feel free to contact me directly at following:

Jason Stackhouse
Stack Investments, LLC
484-467-6288 (cell)
[email protected]  

As a few guys have mentioned above, I would look into any ways to turn this into a 3-4 unit apartment which will increase your monthly income and capacility of actually renting it out. It could be difficult to find families looking for a 7-BR property to rent and if they are, they may not be able to pay what the rental 'should' be for that size property.

For example - not sure the market rents in your area but say you can get even $1,200-$1,400 per month on a 7-BR property. If you can turn it into a 4-unit quadplex somehow, you can get say $500-$600 for each unit which could mean between $2,000-$2,400 per month and double your rental income.

Another option could be to rent the property out per room to increase your profits.

Good luck!