Info on Nation-Wide Real Estate Discounters - Posted by Lawrence Tourangeau (Oh)
Posted by Lawrence Tourangeau (Oh) on July 07, 2001 at 24:08:05:
Don’t know if this helps but just today I received information from Nation-Wide Real Estate Discounters Corporation in the mail. I was going to pitch it but had a feeling I better hold on to it for some reason. Their brochure says that they are located in Fort Myers, Florida. No web-site address which always scares me for some reason.
To summarize their FAQs brochure, they say that they are ‘a nationally recognized company dedicated to showing people like you how to make big profits from locating distressed residential property.’ They claim to have been active in the acquisition, rehabilitation and liquidation of distressed properties since 1960.
You can make money by assigning your deal to one of their investors for 10% of the purchase price OR they will purchase the property for ‘all cash’, make the renovations and give you net 40% of the net profits OR you can use their funding sources and keep 100% of the profit for yourself.
Their training if you become an Associate includes a 250 page manual, consultants and their forms and contracts ‘very essential’ to your success. The brochure says that ‘You are never required to use any of your own money on an approved joint-venture or assignment of contract. This includes property acquisition and resale costs, renovation expenses, appraisal costs, legal fees, etc.’
Lastly, my favourite Q and A in its entirety:
Q. What does Nation-Wide expect from an Associate?
A. A COMMITMENT! Many people who respond to this opportunity tend to be more curious that serious, making it very difficult to determine the commitment level of those who express interest. Nation-Wide and your Advisory Team spend a great deal of time, effort, and financial resources educating you on acquisition strategies, techniques and procedures. Therefore, you must be willing to demonstrate a commitment to your future if you truly expect to become a financially distressed property locator.
James, I know this doesn’t give you any of the ‘oh you need to do this’ answers you’re looking for right now but I hope it helps in some manner to know about the company giving your buyer a difficult time. I don’t know if they do what they claim to or how great a company they are but I hope this info tidbit helped.
Best of luck.
Lawrence Tourangeau (Ohio)