I was looking at ads for foreclosed homes and received a call from a representative of New Western Acquistions. At first I thought it was a scam, but was invited to a legitimate office (not a sweat shop) to meet. I was given several properties to look at and the numbers all seemed great. They even have "realtors" that provide "comps." The one property that had already sold proved to be a great deal and actually sold for more than what they predicted. The key is that was one property, probably the only one in many months that did this. Not the norm. The house they sold us had great "comps" also, but the "comps" were skewed and inaccurate causing a tremendous loss on our part. Ben Cowling sends out e mails to clients with "opportunities." After this experience, it is very obvious that most, if not all of these, are skewed. They give you no option period and expect you to trust the "realtors" on staff. The realtors' licenses should be pulled and the doors shut on their offices. If anyone from New Western Acquisitions calls you, hang up!
They hire inexperienced people on the phones and skew numbers to make properties look like a great buy. They make money on the sale to you and their 20% plus loans with a loss leader rate of less than 8%. Then they make money on the back end pressuring you to use their realtor to sell.
You are better off finding your own properties. Don't believe anything they say, they are professional sales people.
They lie about the comps and are so smooth they have you believing you are getting an amazing deal, only to find yourself stuck with a property priced 30% over market value.
New Western Acquisitions Reviews
I was looking at ads for foreclosed homes and received a call from a representative of New Western Acquistions. At first I thought it was a scam, but was invited to a legitimate office (not a sweat shop) to meet. I was given several properties to look at and the numbers all seemed great. They even have "realtors" that provide "comps." The one property that had already sold proved to be a great deal and actually sold for more than what they predicted. The key is that was one property, probably the only one in many months that did this. Not the norm. The house they sold us had great "comps" also, but the "comps" were skewed and inaccurate causing a tremendous loss on our part. Ben Cowling sends out e mails to clients with "opportunities." After this experience, it is very obvious that most, if not all of these, are skewed. They give you no option period and expect you to trust the "realtors" on staff. The realtors' licenses should be pulled and the doors shut on their offices. If anyone from New Western Acquisitions calls you, hang up!
dishonest comps
they are trying to sell properties to inexperienced investors who are trying to make a quick buck, and skew the comps.
however, if yo know the market well and can do your own research, then you can find sometimes great deals
Overvalued Scammers
They hire inexperienced people on the phones and skew numbers to make properties look like a great buy. They make money on the sale to you and their 20% plus loans with a loss leader rate of less than 8%. Then they make money on the back end pressuring you to use their realtor to sell.
You are better off finding your own properties. Don't believe anything they say, they are professional sales people.
Complete Liars
They lie about the comps and are so smooth they have you believing you are getting an amazing deal, only to find yourself stuck with a property priced 30% over market value.