New Western Acquisitions
Anyone heard of an investment real estate company called New Western Acquisitions? I don't think it is exactly a CRE company but they specialize in finding properties for investors to flip, etc. I am interested in the Investment Real Estate Position but I think it is a lot if not 100% commission. The company has great reviews on glassdoor regarding training and office culture. Does anyone have any tips or info on this?
[{"id": "fgo812h", "text": "A couple of red flags:\n\n1) I interviewed with them before the holidays. They claimed they were \u201cwell known\u201d in the area but none of my contacts in the mortgage/residential real estate really knew a thing about them. \n\n2) a majority of the people working for them are people in their early twenties. That struck me as odd. There wasn\u2019t anyone above the age of 25 in the office (except for their office manager).\n\n3) I snooped around online and found that they don\u2019t exactly have the best reputation. They treat their employees really well but their business model doesn\u2019t exactly favor the consumer. From what I remember an investor needs to place a 3,000 dollar deposit down (I think that\u2019s the term) before they can move forward with a property.\n\nIn addition their metrics are usually off by significant margins (according to what I\u2019ve read).\n\n\nI would recommend seeking employment elsewhere. But I\u2019m no expert. If you get in there and manage to make some sales you could make a lot of money. \n\nBest of luck.", "replies": [{"id": "fgo9067", "text": "Gotcha makes sense. I actually just checked LinkedIn to see who worked there and a mutual friend of mine has been working there for 6 months so I\u2019ll contact him and see what\u2019s up. \n\nThanks for the info.", "replies": [{"id": "iuyhkh4", "text": "Hey, I'm taking a look at this myself. What did you turn up?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fgoajlf", "text": "Their website FAQ makes it look like they are wholesalers, which in residential side are the \"we buy houses\" guys.   \n\nWork is probably calling small landlords, old ladies, people with code violations, etc and bothering them to sell. I get about 5 or 6 calls like this a day right now and am about to throw someone through a window.", "replies": [{"id": "ig2w5m6", "text": "That's the acquisitions side, not the dispositions (sales) side", "replies": [], "depth": 2}], "depth": 1}, {"id": "fgoct0r", "text": "They are wholesalers, so they don\u2019t get mortgages, they use private equity. \n\nIn Atlanta they do a huge volume of business, i\u2019ve bought a flip from them.   \n\nGreat place to learn the business, I\u2019m sure their employees are in demand and learn a lot about real estate investing.", "replies": [{"id": "fgod6g7", "text": "Do you think starting out in an investment real estate agent position right out of college would be rough?", "replies": [{"id": "fgojktg", "text": "Dude if you want to get anywhere in the real estate business in cre I would not recommend. You will not gain any applicable skills. Go to ULI meetings and talk to people if you really want to learn about the industry. This will be a waste of time for you. No one working in cre recognizes new western so working their would do nothing.", "replies": [], "depth": 3}, {"id": "fgp4e17", "text": "Subscribe to r/RealEstateInvesting\n\nAsk them about New Western\n\nThey might do commercial, but I only see them flipping residential houses.  \n\nGetting a RE agent license would be very smart, its a short 80 hour intensive course that covers a lot of material.   Being successful takes a while to build up a network of people, which might be difficult for a college kid (easy for a tennis/soccer mom that knows everybody for miles).  CRE might be easier tbh.", "replies": [{"id": "fgpaalx", "text": "Yes I\u2019m thinking about taking a pre brokerage class that starts in March. The path I would like to take is to find an entry level analyst job at a big CRE company like JLL or CBRE and get some industry experience for a couple years and make a salary then maybe move to brokerage. I\u2019m trying to network into the industry as applying online just gets washed away. I got connected with the Managing Director of JLL in my city this week and she wants to meet for 30 mins. I hope this is my golden ticket right here.", "replies": [{"id": "fgpgaue", "text": "Good plan...   learn some tax too", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fgoe899", "text": "They've tried to sell me properties.   The employee retention seems very poor... Many different reps.   They make you go to a meeting in their office and go through a big program to get added to their list.", "replies": [{"id": "itbm7g8", "text": "No they dont lol", "replies": [], "depth": 2}], "depth": 1}, {"id": "fgp2b8y", "text": "Avoid. They mislead on most deals and hope a new investor falls for it. Not the best people to learn from.", "replies": [], "depth": 1}, {"id": "fgqhb90", "text": "Don\u2019t waste your time! Every tome these guys reached out to me I had such bad vibes and didn\u2019t trust a word they said. They are house flippers who use agents to flip the contracts for them. If you want to be a sales agent go work for a real firm where you can actually prospect for listings and not buyers. Also you can sell buildings instead of small houses. Commissions must be a joke there. Don\u2019t do it!", "replies": [], "depth": 1}]