Posted by Ed Garcia on December 02, 2001 at 13:08:25:
Jennifer,
I’ve heard of this group or either a group similar. The reason I believe it’s the same group is because I remember the main individual was named Sandy. They were doing deals in Missouri.
Jennifer, The pit fall in this deal is, in using your example, taking investors from California to lets say Kansas City Missouri, where is actually where I heard of them. The buyers, who are accustomed to California values or numbers, thank that they died and went to heaven when they see Missouri prices. As a result, they pay close to market, thinking that they will be experiencing appreciation, which they enjoyed in California. It never happens.
I, as an out of state investor, do my due diligence and investigate the area that I invest in from more than one source. I recommend any investor who invests out of state do the same. You need to know the turf you invest in. I have had management companies handle my properties out of state and can assure you, that no one will have your best interest at hand as you do and management companies are no exception.
Posted by Jennifer on December 02, 2001 at 11:08:30:
Has any one heard of Real Source? They are promoting a market timing concept and suggest moving your investments from one geographic area to another to take advantage of changing market conditions in various areas. The concept makes sense, but can they make it work in the real world?
They make money by selling their clients economic data on the suggested market cities and then participating in brokerage commissions and management fees when the client buys and sells property.
They are targeting income property owners in high priced/no cash flow areas-like California. They recommend refiing or selling with a 1031 exchange and moving the investment to a lower priced area that has current cash flow and that Real Source believes will experience significant short term( one to three years) appreciation.
I would appreciate any and all comments
Please post or email me if you have ANY information about Real Source or have an INFORMED opinion about their program.
Their website is www.realsource.net.
Thanks to all for any info.
Jennifer,
Have you followed up on RealSource? I have just recently heard their sales pitch and am impressed by the company. But I am trying to do my due diligence.