Key Solutions, LLC

[vaproperty]

I made an investment with them and I would suggest that people avoid them.
They say that it is turnkey, and that they will take care of everything but when they couldn't resell the property they pointed me to a realtor and said "good luck".
Rehab work was shotty.

There is no easy dollar.

Be prepared to have to drive to the property weekly and check everything.  Insist on inspection before they put sheet rock up.
Look at the work as if you were going to own the property for a while, because you might!

Bonedbykey is absolutely right.  Expect to visit the property weekly.  I was supposed to receive weekly updates with pictures from Key Solutions as part of the contract.  I never received anything from them until the rehab was almost complete.

My rehab took 6 months longer than the 90 days in the contract.  Supposedly you would get reimbursed $100/day for every day past the 90 for the rehab, but they have included a little loophole in their contract that states gas, electric and water have to be available before the rehab starts.  Unfortunately, some work needs to be completed and inpections done before the meters can be placed.  Dealings with Key, their contractors and BGE is much like dealing in a third world country with all of the lies and finger pointing.  Needless to say, I received no reimbursement for the rehab delay...only receiving the threat that they could put a lien on the property and cause propblems selling.  And yes, they rehab was very shoddy!

I also just found out I received a fake roof cert from Key Solutions contractor, Steve Chenault of Discount Home Improvements.  I refused to release the escrowed funds until I had a roof cert.  The roof is now leaking and the contact on the cert does not exist or has skipped town.

I have also since found out I have no claim to the deed, and I am in the process of finally selling.  Key Solutions was selling and LLC which held the property.  Because of a clerical error, the LLC did not exist and apparently, the LLC was created two weeks after I had purchased it, causing a problem with the title company handling my closing.  

There is much more to this and many others are having the same problems I have already experienced.  I would never do business with anyone associated with Key Solutions, LLC ever again.  

Anyone wanting to know more or who has similar experiences, please feel free to contact me.

[wojo23323]

Thanks for the info. I receive about 2-3 e-mails per day from them.

[scottbloom]

I have not heard of him.

Look at the tax rolls and see if he or his company has sold any properties.

Scott Bloom
CEO

[xelkwonx]

They do everything in LLC's..they create a new LLC for each property they control and then sell the LLC itself instead of selling the property. The property is considered an asest of the LLC. So you may not find any info under Key Solutions, LLC.

[eaterb]

I would avoid an operation like this.  My business partner and I utilized a similar operation and had a heck of a time.  We purchased what we thought was a great investment property in early May.  As we were both new investors (partner is a real estate agent and I am a risk manager), we decided to purchase their contractor referral and rehab consulting program (over a grand).  We finally let the contractor go in August, as we kept hearing excuses and now we are finishing the work ourselves.  We just hired our last sub to finish some of the major items.  I believe this company marked up the purchase price of the property (which is fine, if everything else is above board) and then hit us again with the worthless referral program and rehab consulting.

We have found numerous additional problems (when they painted they did not cover the new windows or cabinets, we had to rip out the new ceiling and wall in the living room to fix a pipe that broke when the original contractor installed the toilet).  I thought I would have learned more from an organization that has completed over 350 flips.  We basically learned to hire the right contractor.  My suggestion would be to join a local investment club or other similar organization and find someone that can help you get started.  We are now more than $3,000 over our budget, so our flip will now be a hold...which is not a big deal, as the rent in the area is decent, but we did not want to hold onto the first one...single family home.