HomeUnionReviews of homeunion.com

Solid platform to build wealth through the accumulation of real estate. The busy executive would appreciate the advantages of the friction being taken out or avoided in their day to day lives. You invest and let them do the rest and jump on the "one throat to choke" model to build some wealth to enjoy a better quality of life.

My real estate experience started when I purchased a condo in Hoboken, New Jersey, in the early 2000s. I lived there for a while, and then converted it into a rental. Over the years, I was able to weather both the financial crisis and Hurricane Sandy while keeping my rental and generating monthly cash flow. Now that the local housing market is up in Hoboken, I made the decision that it was time to exit the market, as it’s been extremely unfriendly with rent control laws and taxes. Not to mention, tying up half a million in 1 tiny box is a significant chunk of my net worth. The Next Steps Once I decided that I would sell my condo, I had to consider multiple factors: Where to invest? I considered a few local New York/New Jersey spots to invest in, but they were too expensive and came with high taxes and home prices. How do I invest passively? After self-managing for years and dealing with 2AM phone calls, terrible contractors and the rest of it, I wanted to make enough free cash flow to hire a property manager. This way I could truly be an investor, not a landlord. This was so important to me that I even strongly considered REITs as an alternative! What is the most advantageous way for me purchase real estate? When I started to calculate the tax bill, I realized that a 1031 exchange was my best option. 1031 Exchange A 1031 exchange was the best option for me as I had been depreciating the place as a rental for the past few years, which provided a lovely tax shield. The challenge was that if I sell the property, I would have to pay income tax recapture on top of the capital gains tax - OUCH! How HomeUnion Helped Luis from HomeUnion reached out to me around this time, and he informed me that HomeUnion could meet the fairly short timelines required to complete a 1031 exchange transaction. Even better, HomeUnion could help me split proceeds into multiple cash flow-positive homes and secure GSE mortgages to boot. To be honest, it sounded too good to be true. How do I know these are legit? Do I really want to buy homes I've never seen? I ended up visiting two locations, Chicago and Tampa, to meet HomeUnion’s local region managers and check out a few properties, which included the ones I was bidding on. Both local region managers struck me as knowledgeable, experienced and skilled at what they do. These meetings got me comfortable with HomeUnion as a company and as a partner. Fast forward a few weeks, and we've just completed the 1031 exchange transaction! I was able to split my Hoboken condo into 6 single-family houses (technically 5 as we added additional funds to purchase the last home) in 5 states using a 1031 exchange. By diversifying into multiple markets, I feel much safer for the following reasons: I'm not as worried about a big storm wiping me out, as I now have additional cash flow-generating properties. This means I'm well covered, even if I have an issue with one of them. I don't need to stress about keeping the places 100% occupied, as the cash flow is sufficient to allow for some vacancy. Best of all, the cash flow is expected to be enough to cover HomeUnion’s management fees, which reduces my hassle, and I can truly invest passively. HomeUnion’s Pricing Some may view their pricing as a premium product - I would agree it is not the cheapest route. I've always been a ‘do-it-yourself’ kind of person like many TrustPilot members, but after my experience, I would say HomeUnion delivered a lot of value and has been worth every penny spent. I believe they provided me with a service that went above what I could have handled alone (unless I quit my day job which I enjoy and wish to keep). I feel that I am in a much stronger position, and have advanced my real estate portfolio multiple years ahead by making this move. Current Status Three properties are now in rehab with HomeUnion, where they are handling the whole process of repairs/maintenance and working with contractors. I will keep you posted as they progress, but so far they are on track to exceed expectations. The other three properties have been tenanted and the early outset for HomeUnion’s management team looks good. _________________ Disclosure: I volunteered to write this because I saw some good posts here, but nothing on this specific topic and not many detailed accounts of HomeUnion from the community. When I mentioned this to HomeUnion, they offered me a free month of asset management as a thank you, but this has not affected my post and I've tried to be as unbiased as is humanly possible. In addition, we are at a stage where we have just completed the transaction: 3 properties are tenanted and 3 need some minor rehab and need to be filled. The early outset for management and rehabbing looks good but I can't vouch for that yet. I will create an update in a few months with my findings.

Excellent service. First class company. Highly organized, diligent and responsive.

I bought my first property with Home Union recently. It took a couple of months but they were very good about keeping me informed on the process. I found them very responsive whenever I emailed asking for status updates. Kelliey was really good about answering questions.

The staff are wonderful and very responsive to queries.

It has been a great experience, they walked me through the entire process and are always available to explain things when I don't understand. I also have many of their cellphone numbers and they encourage calling or texting them.

HU is an innovator in the single family real estate space. This is driven by their outstanding leadership team who possess the right attributes - integrity, openness, customer focus, commitment to excellence, focus on continuous improvement, and inspiring their managers and staff to foster these key attributes. The ability to treat real estate similar to acquiring other asset classes has helpsd me to diversify my investment portfolio and IRA. Cash flows are steady and predictable. HU is very conservative in estimating returns and had consistently met or exceeded my expectations. The few concerns and issues that have arisen were dealt with professionally - as a relatively new company HU is eager to grow from experiences and takes full accountability for any less than desirable experiences (these things happen and HUs track record with me is strong

This is our first time investing in rental real estate. Gary Nguyen was very helpful in answering all of our questions, no matter how small. He really listened to what we wanted and customized our wishlist accordingly. But the best part was that when we found a property that we thought would be a good investment, he actually said "no, don't buy this" after the inspection report was completed. He then led us to another property and jumped on it so we wouldn't lose it - we are very pleased with our recent purchase and look forward to our first rental check and our next purchase.