Jay Walsh is CEO of both Home Cash Direct and Home Cash Management. Jay Walsh is also the President of the Philadelphia Real Estate Investors Association (REIA). I met Jay Walsh in October of 2009. I wanted to get into real estate investment in Philadelphia and was enticed by Jay Walsh and Home Cash Direct and their many promises of investing in no money down real estate transactions. I thought it was too good to be true … and it was.
I plan on posting the details of my experience with Jay Walsh, Home Cash Direct and Home Cash Management, but for those who don’t have the time to read through it all here’s a quick summary. I own two investment properties in Philadelphia that I bought from Jay Walsh and Home Cash Direct which were managed by Home Cash Management. As of today I have not received security deposits or full rent from either property, but more importantly I have yet to receive full payment from a $23,200 check that bounced from Jay Walsh. After doing some research I’m finding out that the reason the check bounced is because Home Cash Direct is on the brink of bankruptcy. Oh and not to mention the fact that I also found out that Home Cash Management isn't even a licensed property management company. The bottom line is I’m a very unhappy customer who owns two investment properties that have zero cashflow.
By the way, I’m not the only real estate investor that’s getting screwed by Jay Walsh and Home Cash Direct. There are plenty of others. Here’s just one story of another unhappy Home Cash Direct customer. http://www.ripoffreport.com/property-management/home-cash-direct-and/home-cash-direct-and-home-cash-48559.htm
Thanks Jay Walsh, Home Cash Direct and Home Cash Management. Keep living it up on everyone else's dime.
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