Anyone ever heard of Realnet USA?

[realestateesq.]

They are in Orlando, Tampa, Jacksonville, West Palm beach as well as Atlanta, Cincy, Houston, and now Charlotte.

They do the "birddogging" and are quite good at it.  They are a real estate brokerage technically but their schtick is buying houses welll-below value and selling to rehab investors.

Just curious if any of you all have run into them and what your experience(s) have been.  They happen to be one of my biggest clients.  I know them well.  We do many investor closings at my office for RealNet locallly, and I am involved with them with other legal matters throughout the country.

To my knowledge, they are the best at finding the good deals; you just have to do your due diligence and see if their deal works for you.  They also provide financing through a related company as well as other services.

Anyone heard of them?  Just curious?

[drkmnfla]

I saw some ads they had in the local paper here in florida looking for new associates.. anyone have an idea as to how they pay the people that work there.. or are you better of trying to just start out on your own

[pj]

From what i have seen is that they are buying cheap and taking most of the profits for themselves and selling their propertys to other less experianced investors with not much room for the new investor to make a profit after fixing up, carrying costs, etc. I have also heard ,but don,t know this for sure is that they want you to buy using their mortgage company. This you need to investigate. I looked at one and and the number were not in the new investors best interests. NOT enough profit for the amount of risk.To much work and not enough reward.

[drkmnfla]

my impression is that they are going after the long term "hold" investor ..not the guy that is looking to buy fix and sell..

[dalee525]

Yes.. We did business with the office in Houston. The realtor we used lied and held important information from us that caused us to lose a substantial amount of money. I will never use nor refer this company to anyone.

[cincyinvestor]

Sounds like to me Dale that you didn't do your own due dilligence on the project.

I've done several deals in the past with the guys in Cincinnati and have never once been anything but pleased.  Everything they tell me is true, if it's not the best deal for me my rep wont force it upon me, and I have become very profitable thanks to all of their work.  Most of my deals have been successful resales as well, so the earlier post that says they aim for the long-term landlord type investor isn't true in all cases either.  Just my .02 worth.  

[crischico]

In dealing with them .. or anyone else for that matter... confirm and verify all information .. and make sure that you do your own due diligence!!!!

Otherwise you could end up losing $$$

They wholesale properties... if you sell to them make sure that you have air tight contract with deposit..to make sure they dont walk.

[DeeinAustin]

One of my investors out of Houston finds properties and sells through them. He seemed pleased.

[Mhardeo]

I work for the Houston office so I can say we generally perfer buy-fix-hold investors because Houston is so much of a buyer's market.  There are many homes on the market and tons of new construction, so yes I will always make my investor aware of the market.  Now, I can only make them aware -- I always tell my investors to market their properties both ways because you never want to pigeon whole yourself in one corner.  If you can find a solid tenant and cash flow, then why not??  Do a refi cashout and move on to the next deal -- make sense?  

No matter what business you're in -- if you're doing a high volume of business and especially dealing with "investment" real estate, -- not everyone will always be happy.  There are too many factors to take into consideration.  You buy as-is where is -- that is ALWAYS known up front.  We do not claim to know every single thing about every property -- I don't know that it's possible, but we'll do our absolute best to let you know everything we know of.  

We are afterall a business and have been doing this for around 13 years now and rapidly expanding.  We are not here to do bad business -- if anyone has a problem we'll be happy to help you out any way we can.  

Happy Investing!

[crischico]

do you guys do business in san antonio also?

[Mhardeo]

Not yet, but we should have one setup there within the next 2 years.

[5jimbo5]

i ahve bought a home in Cincinnati thru these guys and was more than pleased with the results. expecially since i was out of town.

the numbers i was given were very accurate and the house appraised exactly the amount they thought it would.

there was plenty of room for me to make a profit, so i don't care what they made. i don't need the whole pie. it's always best when it is  win/win for both parties.

probably the best part was the help after the sale. i was not forgotten.

i have met , or talked with other Realnet offices, and they all seem very professional, though profit margins are different in different cities.

i highly reccommend them. plus they will sell for no fee after rehab.

jim

[moonstruckprincessa]

A few bad apples will spoil the bunch. If they really are good, they will toss their bad employees and curtail the bad business practices.

[5jimbo5]

i forgot to give the name of the individual i used. his name is Nick Ayers, and he is one of the most honest and sincere individuals i've come across in my 20+ years in real estate.

jim

[wake33]

Anyone have experience with Real Net USA in Charlotte?