I purchased multiple houses from Phillip Carter and Texas Cash Cow. On the surface, these appear to be the deals of a lifetime. After over 3 years dealing with Texas Cash Cow and CCMG, most of the tenants they placed did not even make it to the end of the lease. Make ready cost, re rent fees and lost rents have caused me to loose many thousands of dollars. Phillip Carters business model is to by nice houses in sub par neighborhoods and sell them as gems to unsuspecting out of state (and country) investors. Phillips portrays himself as a very honest, friendly guy. Don't buy it. What he doesn't tell you is he is selling you a property way over market value, occupied by a shady tenant, managed by the incompetent staff at CCMG. They get over market rents by dropping tenant qualification standards. Bad tenants paying over market rent does not equal good things for the owner of the home. Do not buy anything from this company. Do your due diligence. Ask for referrals. Tell him you want to talk to investors that bought from him more than a year ago, more than 2 years and more than 3. He will not be able to give you any names,. This is because a happy, long term investor with this company does not exist. Tell Phillip Carter you want to have an independent appraisal done on a property before you go into contract. See what he says. If you really do think his properties are such a great deal, and you truly believe everything he tells you, spend the money and have an independent appraisal done. It will be the only wise money you spend in the process. Do your own research about realistic rents on these properties. Call other Dallas Property managers and ask what market rents are on these properties. After 3 very frustrating years, I finally moved my properties from the management at CCMG. It has cost me more than $15,000 in the last 3 months just repairing damages done by CCMG placed tenants. . I bought 5 properties from this group, and to date have lost almost $50,000 on this so called ""great investment"" BE WARNED. Do your research. (CCMG has an F rating at the BBB) Why is that? Phillip Carter claims his vacancy rate is extremely low. Take a look at CCMGrentals web site. Why are there over 50 properties for rent on their site if their vacancy rate is so low? If you want to overpay for sub par property and want to subsidize this investment for a very long period of time, this is the opportunity for you. Don't buy the cash flow and rate of return numbers he promises. The only one that will make any money on this investment is Phillip Carter. Trust me on that one. You have been warned. Do not do business with Phillip Carter, Texas Cash Cow Investments, or CCMG.
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