All Forum Posts by: Zach Zimmer

Wow... This is crazy and upsetting to hear. Being in Northeast Ohio I have known OF Matt for at least 8 years. We spoke early on in our REI journey's and then connected back about 6-8 months ago. I have gotten more into lending and so after a few unanswered emails (should have been a bigger flag than it was...) I grabbed some time in his calendar link. We had a really good chat about where each other's businesses had gone and I told him I was interested in one of his notes and to get the docs drawn up. However.. I did also indicate I wanted a PG from him. He said that was fine but that he didn't usually provide those. THANK GOD he never came through with and docs and didn't return another email or two as time progressed. About a month later he emailed asking if we could have a call to review the local community banks I have used in cashing out packages of homes. I said call me anytime and asked again about doing the note to which I have never heard back.

This is just very upsetting because he seemed to be a smart grounded guy and certainly tenured in REI. If I was wrong on him it makes me wonder about all the other loans and deals I have going on out there based on my belief in a person and a piece of paper. I thought I saw that he bought a second gym right in prime downtown Cleveland as a result of the prior operator squeezed in covid pandemic. Maybe he needed cash so robbed Peter to pay Paul planning a quick refi out and all would be well but then found out banks not too excited to lend to gyms in a pandemic...

Whatever it was, falling on your sword and communicating regularly with your investors might keep your reputation salvageable if you just made some mistakes.... but based on some of these comments it looks more like blatant fraud and he done... 

Best of luck to everyone trying to get there funds back.  This has certainly been a warning shot wake up call for me.  Maybe I'll just stick to bigger names like Cardone and Morris Invest lol....

I Can't recall how the communication was but I didn't have any title issues down the road when I cashed out of the properties and title work was completed again.

How about they fix the failing water/sewer system to reduce tenants water bills by $100+ per month.  That might help the root cause of tenants not being able to pay rent?

Thanks for the update.  I have eagerly wanted to get into this space..
I had a few calls with Sunrise that had some pretty poor answers / or lack of to my questions so was leaning toward Four Peaks since those conversations went better.  However based on these experiences still seem too risky versus just going after some of the options with RealCrowd that seem attractive and proven.

Good luck Jeremy!

I believe you'll have good success in Akron.  We definitely can use more dependable handymen / contractors!

Please hit me up once you get established..  I always have projects waiting due to limited capacity.

I guess you would say self-manage.

Cozy makes it so easy to collect and then I have a full time GC who directs subs around to flips, new acquisitions, and then repairs / turns.

Green/Uniontown is a great area. (Why I live here!).

Central to the highway, top schools, middle to upper class in most neighborhoods (still a usual amount of apartments and duplexes for a nice suburb).

Perfect location for me as I own properties across Akron and Canton.

Hi Lance.  Send me the details and I'll take a look as well.

Akron sewer is a failing system and 60+% of your bill is EPA assessments which I've never gotten a clear answer whether that is building up a fund to replace or is just fines..

You may have a small leak, running toilet etc...  A good dozen or so of my properties regularlt have $200 bills.

I keep saying one day these folks will wake up and realize they can go live in a nicer area outside of Akron sewer (Cuy Falls, Springfield, Tallmadge, Coventry, Plain....) and while there rent will be more it will be offset by saving $100/month on this bill...  However that hasn't happened yet and Akron is still strong.

Have you tried Angies List or Thumbtack?

I have had decent success through there in finding guys to bring on either full time or as regular "go-to's".

Most recently I have been getting leads from realtors I work with.

It's a constant challenge as I always have more houses in queue than available guys to rehab...