Question Details

Tony and Hol…, Real Estate Pro in Orlando, FL

Has any realtor out there been emailed by a representative from Capital Homes, LLC asking you to help them purchase land up to $1.5m?

Asked by Tony and Holly Galarza, Orlando, FL Fri Oct 18, 2013

Here is the email I keep getting: My name is Dale Rombach and I am the purchasing coordinator for a development group called Capital Homes, LLC. We are now looking for buildable lots in the greater Orlando area that we can spec build new construction and resell quickly.
Our target price range for selling the homes is $400,000 to $1,500,000 sale price. We pay all-cash for lots and can close in 30 days and we’re looking for an agent who can identify buildable lots and make offers for us.

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Answers

20
This company is a complete scam. Hours upon hours of research for "comps" and unrealistic values for land and lots. I feel horrible for the "managers" and "purchasing coordinators" that do this scheme.
1 vote Thank Flag Link Thu Feb 6, 2014
Yes I have had 2 deals in Chicago fall through and this last one doesn't look any better . if you want to learn something about the market in other areas try it but do not expect anything out of it I've been trying for the last 8 month with no success
0 votes Thank Flag Link Tue Jan 27, 2015
I haven't heard of anyone actually closing a deal with them. They seem to contact a large amount of agents though.
0 votes Thank Flag Link Thu Oct 2, 2014
I got the same scam! Lost a day researching information, making videos and they just kept asking to endlessly do more research. They used the exact same format of email. Never again! Thank you for this blog - it reaffirmed my concerns.
0 votes Thank Flag Link Thu Oct 2, 2014
Yes, me too, i just deleted them because it was definitely not legit
0 votes Thank Flag Link Fri Jul 11, 2014
I just got the same email.
0 votes Thank Flag Link Fri Jul 11, 2014
Buying a vacant lot is an important and complex decision, just like any real estate purchase. For starters, there are plenty of reasons to buy a parcel of land. If you buy a house, it's probably so you can live in it; but with land, you could choose to build your own house, use the property as a long-term investment or even to start up a business. Property also introduces a host of issues you don't normally face when buying a house. There are all sorts of restrictions that could apply to a vacant lot -- you might not be able to build a house on it at all.

I'm new at this and those people whose deals haven't made it to closing, they should use it as a learning experience and do a better job next time you submit a deal to Capital Homes.
Whatever your intentions, there's plenty to know before investing in property. Give them a break. They're only doing their due diligence as any sharp investor would.
0 votes Thank Flag Link Thu Jun 26, 2014
i did a great job all 3 times did what was asked of me ,all the research ,,cmas ,followed all the link instructions,found well and septic info for them ,builders names ect .What more could you possibly do to make it happen.
Flag Wed Jan 28, 2015
I've been receiving calls from this Keren Lee, she doesn't even know what the heck she's talking about, she found this property a piece of land on zillow for sale by owner she said we'll pay you to represent us, We are investor with the same numbers she's gave other people on here. I called the for sale by owner got him all excited about them wanting to purchase his land. After I negotiated the price and sent her comp as she asked she called and said No I'm sorry the investor feel its not profitable. Please keep looking. I am so glad I ran into this blog only two days later and numerous calls from her. I just sent her a email and I told her to take her SCAM elsewhere. I'm not hungry for the business and I'll report her if she keep calling me... She stopped calling. :) BEWARE NEXT AGENT
0 votes Thank Flag Link Fri Jun 13, 2014
Don't waste your time. I was contacted by a rep of Capital Homes LLC. Spent months identifying lots which met their criteria. Wrote an offer and after 3 weeks they came back indicating that the lot was worth half the price they had offered, which was not at all true. Deal fell apart. I know of two other agents in our market who had similar experiences.
0 votes Thank Flag Link Wed May 7, 2014
I have been working with a manager for weeks. He was unprepared, and in the end, the deal fell apart because of the company's unrealistic square foot build amount. Don't know of any houses in Florida that are currently being built, or being sold at $1.75 per square foot!
0 votes Thank Flag Link Mon Apr 28, 2014
That is $175 a sqft not $1.75. example: (2300 sqft X $175 a sqft = $402,500) for a low end $400K new house to a high end new house of $1.5 million, example: (5000sq ft X $300 a sqft = $1,500,000 new home) or $1.5 million for the high end new home. contact me if you have or find something like this. thanks
Flag Mon Apr 28, 2014
I was contacted by a Gary Feldman who says he is a purchasing coordinator as well for Capital Homes, LLC. Is this worth my time to look for lots for him? He sent me a copy of the Proof of Funds but I'm still unsure about it. Before I start wasting time I would like to know others experience with them.
0 votes Thank Flag Link Thu Apr 10, 2014
That is $175 a sqft not $1.75. example: (2300 sqft X $175 a sqft = $402,500) for a low end $400K new house to a high end new house of $1.5 million, example: (5000sq ft X $300 a sqft = $1,500,000 new home) or $1.5 million for the high end new home. contact me if you have or find something like this. thanks
Flag Mon Apr 28, 2014
That is $175 a sqft not $1.75. example: (2300 sqft X $175 a sqft = $402,500) for a low end $400K new house to a high end new house of $1.5 million, example: (5000sq ft X $300 a sqft = $1,500,000 new home) or $1.5 million for the high end new home. contact me if you have or find something like this. thanks
Flag Mon Apr 28, 2014
Lets say if I had the money & was going to buy lots, empty buildabal lots from $60K to $225K then put a house on them & sell them from $400K to $1.5 million I would want all the info Capital Homes LLC asks.
Flag Mon Apr 28, 2014
Don't bother
Flag Mon Apr 28, 2014
Don't bother.
Flag Thu Apr 10, 2014
Has anyone close and received their finder's fee???
0 votes Thank Flag Link Wed Mar 19, 2014
After many hours spent for research and writing low ball offers, I finally did get 3 ratified contracts for representative of Capital Homes, LLC. All three had to be voided using study period. Make long story short, the company will reject ratified offers without good reason. Upon further investigation, it seems Capital Homes LLC and Jerry Norton have lots of negative blogs on the net. To answer the question, no, I have not made any money, just spent many hours.
0 votes Thank Flag Link Tue Mar 11, 2014
Lets say if I had the money & was going to buy lots, empty buildabal lots from $60K to $225K then put a house on them & sell them from $400K to $1.5 million I would want all the info Capital Homes LLC asks.
Flag Mon Apr 28, 2014
yes, you can join yourself and get the 10k finder fee
0 votes Thank Flag Link Thu Feb 6, 2014
so you actually got a finders fee from them???
Flag Sat Jun 14, 2014
I received a call from an alleged representative of this company. I asked if I would be working as a Buyer's Agent to help in the acquisition of this land, and he said that I would be sent a form and ONLY if they were interested would they contact me. I explained that investing time in researching this land would not be a productive use of my time if I were not paid, and this individual began to argue with me about the subject.
If this is the way this company does business, and with a representative that recites poorly from an obvious script, I would be very surprised if ultimately my time were adequately compensated for this activity.
0 votes Thank Flag Link Fri Jan 31, 2014
has anyone closed a deal with them?
0 votes Thank Flag Link Mon Dec 16, 2013
YES! I was contacted and looked them up immediately with the BBB and also ran a search through Google. They seemed legit, but I was too suspicious to contact them back.

Carol Claudon
CENTURY 21 Top Sales
Seminole, FL
0 votes Thank Flag Link Mon Nov 25, 2013
Did anyone close a deal with them?
0 votes Thank Flag Link Mon Nov 25, 2013
I have put together several offers for fixer uppers for Capital Homes LLC, but with a different contact. The only problem is that they underestimate the current value of properties.
0 votes Thank Flag Link Fri Oct 18, 2013
Did any of those offers close?
Flag Mon Nov 25, 2013
Tony,
I have not, but, you really should give them a call.
This could be a important part of your 10 year plan.
Isn't this exactly what you would expect as the market balances, an increase in new build activity?
Find out if they are looking for 'community' sizes or SFH builds. Then plow the tax data base.

Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
0 votes Thank Flag Link Fri Oct 18, 2013
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