My business partner and I being new investors to the real estate scene decided to work with the OHF team in finding a rehab project which they sourced out. We decided to put our trust in Mr. Douglas as he continually has these real estate investment seminars and continually claimed to have contacts and get good deals on construction materials etc. We assumed they would understand the concept of having a "budget" when doing a flip project. Which is so: A) you don't run out of money and B) so you make money upon the sale. We unfortunately agreed on the hourly "cost plus" contract which Mr. Douglas stated is the most "cost effective" contract. Our project was verbally quoted at $40,000. Early into the project things went skyrocketing over budget.invoices were coincidently not emailed out for two weeks and then came in with us owing them over $20,000 with numerous weeks of work left to do. When Mr. Douglas was asked how much work was remaining as things were over budget now, he stated he would get back to me and of course never did. We had them stop working and resumed the work ourselves. Not having money to cover the amount owing, Mr. Douglas put a lien on the property. Billing was another issue. One of the workers had called in sick... Upon carefully reviewing the invoice we noticed we were billed for that day he was not there. They did correct this issue, but it did raise concerns as to what other things we did not notice when they had four or five of there workers in and out of the house ever day for weeks. I do believe the house they found for us did have potential but we ended up not making a single penny upon the sale and actually lost $50,000 on it. It was a horrible experience as a first time investor. I do feel we were taken advantage of and scammed. For someone that has life size poster of himself in the front vestibule of his office and preaching about real estate investment, I was extremely disappointed and sickened with the outcome. They talk the talk but only look out for themselves! It was a very very expensive learning experience.
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