Joann Cash Lifestyle Realtors, Inc Don't buy real estate from this person Internet

2nd of Jan, 2012 by User203594

I live in illinois. I have a relative in her area. This relatives son (my cousin) was claiming we could buy homes, rent them, and make $150 profit per month.
A local property manager, Mike Banes, used Joann often. Together they would find the homes, inspect them, Mike would rent them and mange them.
20 homes later it is a total mess. Joann was only concerned with getting a sale. Many homes she new the roofs leaked, the area was not strong, or multiple repairs were needed.
One house in particular in Rich Hill. We told Joann we needed a $20,000 home to buy asap so we could start making income. A week later she showed a house she listed in Rich Hill for $20,000. The photos were dent and we trusted her judgment since she was listing the house we ended up offering $16,000 and we bought it using home equity line. Mike supposedly saw it and said it was a solid home.
We called Metz Bank to get a loan and they did an appraisal. They stated they would give us $8,000 and the him was not worth $10,000.
We eventually visited the home. The back of the roof was caved in - not in the photos, the floor was spongy from termites. We called Joann to realist the house. She said that the house would be less since the market was bad. "We bought it a year ago in a bad market" I said. She NEVER called me again.
We ended up listing the home for $9000 and didn't get one offer. Mike's tenants stopped paying rent and we had to evict them costing us $725, with 8 months of lost rent.
My question is why, Joann? To get a commission on the sale and the listing? How much did you make for us to buy a $7500 house for $16000? A few hundred bucks? Why not just say, this house sucks I'll find you a nice house for $30,000 and not 2 houses for $15000?
How could she sleep at night. We were not local. I will admit I made a huge mistake trusting two local people that were vouched for. Little did I know they were working together and saw 2 suckers from Illinois.
Now I have 15 houses around town that almost all have termites, have leaking roofs, and are basically junk boxes.
There may be a rebuttal
But - I use the Rich Hill example because she cannot deny that was a total sh*t box when she listed it and purposely left out details of all of the repairs needed. It was are 15th house - how rude to take advantage of people that are not local.
She could have had clients for life, but took the quick few dollars and left us with a house that is now worth about $5000

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