So, picture this: I got sucked into a real estate nightmare with Section 8 Boss, run by Kevin Pak and Kevin Kunze. They hyped up a property in Jackson, MS, making it sound like a goldmine – rent-ready, cash-flowing, and turnkey. But let me tell you, it was far from it. I shelled out a whopping $7,500 just to get connected with their guy, Jimmy Benincaso, who sold me on this property that supposedly would rent for around $1,550 a month. Excited by the potential, I quickly snapped it up for $90K, piled over $30K into closing costs and fees, and another $5K into repairs. But boy, was I in for a rude awakening.
The property sat empty for six months, and when a pal finally checked it out, it was a total dump inside and out. The rental market they promised was a ghost town, nothing like what they pitched. I turned to Kevin Pak for help, hoping for some sort of solution, but he basically washed his hands off it and suggested I wait for a wholesaler to bail me out. Can you believe that? Feeling trapped, I eventually got an offer from a wholesaler for a measly $40K, when these guys initially sold it to me for $90K. When I asked for backup, they shrugged off any responsibility, leaving me in a lurch.
To add insult to injury, the house got ransacked, appliances nicked, and the HVAC system stripped, costing me another $5K. Fast forward a year: I had poured in around $125K, with the best offer barely touching $40K. And guess what? The property was still sitting empty, a constant drain on my wallet. When I tried to get Jimmy and the Kevins to chip in for the loss, they flat out refused, saying it was all on me. Talk about a punch to the gut.
Sure, Kevin Kunze made a feeble attempt to help, but even he admitted it was a lemon of a deal. But at the end of the day, none of them, not Jimmy, not Kevin Pak or Kunze, stepped up to the plate. What was supposed to be a hassle-free investment turned into a year-long nightmare, leaving me stressed out and drowning in six-figure losses. And the cherry on top? These guys are out there peddling the same snake oil.