Can Reunion make any recommendations for lenders to talk to?
Here are some local lenders who work in Wichita Falls and Burkburnett that are familiar with Reunion’s programs and needs.
Which title companies do you use?
CLR National Title and Appraisal
Questions About Reunion
What kinds of properties is Reunion Investments focused on?
How does Reunion find properties?
We work with local city governments who are looking to provide a means of gentrification and economic development in their respective cities are are willing to give us distressed properties that are in need.
We work MLS and Zillow leads
We have other sellers (wholesalers) we work with that give us access to more properties in the areas we're working on.
Once these properties are rehabbed they can be entered into our military rental program where they garner higher market rents than typical rentals in the same area.
What redundancy is built into your organization? As you expand, how do you plan to manage that growth -- that is, how can I know that my needs will continue to be met in a timely manner as your enterprise becomes increasingly complex?
Reunion has been busy expanding, sales, marketing, property management, events, education, and customer service to ensure we can scale the operation to support the demand.
Does Reunion have a referral program?
Yes, for any client referred and who closes on a property we pay $500 at closing to the referrer. If the referral closes on a Reunion wholesale subscription we pay $1000 when the subscription fee is paid.
Does your property care service offer an online portal where I can view a dashboard of properties and what is going on in each one?
We’re investigating which property care platform we’re going to use but some investors are already using their own tools like cozy.co to manage rentals. Reunion can use those existing tools where sharing credentials would be acceptable.
What makes Reunion a full-service Investment Company?
Investment Plan Implementation + Property Acquisition
Earnest Money/Holding Deposit
Turn on Utilities. Water/Electric
Rehab - Interior Updates, Exterior Updates, Garage, Conversions, 2nd Bathroom Additions
Rental - Property has renter identified for move-in prior to rehab completion
Survey / Appraisal /Inspections
Cash-out Refi or Sell to Other Investors
Full-Service Property Management
Questions About Rehabs
How do you dertermine your rehab budgets.
Initial rehab estimates are based on what we can physically see of the property before we actually purchase them. Reunion provides initial estimates that are considered “from the studs” meaning we anticipate a complete rehab on the property including HVAC, plumbing, roof, windows, interiors. After we can gain access to the property we can make a more accurate estimate of the rehab budget necessary. The goal is to provide a “worst-case” scenario so the investor can make an informed decision about the profitability of a particular property.
How long does a typical rehab take?
It depends on the project but a typical single-family rehab takes about 4-8 weeks to complete unless there are unforeseen problems or inspection hang-ups.
Would it be possible for me to see an anonymous sample estimate?
Yes, we can provide a sample estimate by request.
How do you determine ARV’s for a given area.
Comps normally come in lower than what we're targeting for ARV because these are areas where we're trying to lift the overall property values (economic development) A lot of the area got “stuck" in 2008 and values are depressed. Most investors we’re working with are buying for cash flow and the local banks are providing an "opinion of value" during refi so the investor can get the cash-out. They also recognize that increasing value increases the tax base.
Does Reunion provide any kind of warranty on the workmanship and materials for rehabbing a property?
A one year warranty can be purchased and added on to your rehab cost.