Southeastern Asset Services - REO Property Preservation Forum

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 47 (permalink) Old 11-17-2011, 10:19 AM
derrickp
Guest
 
Posts: n/a
Southeastern Asset Services

has any one heard of these guys? they are based out of florida. they give you a price sheet with prices for all there different contracts. most of the prices are per bid but they make you sign a 50/50 revenue sharing agreement.
Sponsored Links
Advertisement
 
post #2 of 47 (permalink) Old 11-17-2011, 10:45 AM
Property Preservation
 
Join Date: Apr 2012
Posts: 883
Thanks: 34
Thanked 28 Times in 16 Posts
Revenue sharing? Never heard of that one. So that means, they'll split their profits with you? Interesting. Where do you suppose those profits come from?:whistling

Linda
APlusPPGroup is offline  
post #3 of 47 (permalink) Old 11-17-2011, 11:08 AM
72opp
Guest
 
Posts: n/a
Good Morning,

There is a company based out of Hedrum, MN (Schnabel) who take 50% of profits but reimburse contractors 50% of costs. I cannot put my finger on it, but I do not like that setup. But they are a regional that cover parts of ND, SD, and MN (parts not all) and they can hold a grudge.

I started out being a sub-sub-contractor for Schnabel. I thought I was making good money ($1000.00 a week at first) but then the "good ole boy" network started up and another contractor with a personal relationship to Schnabel took over 95% of work orders. That's when I started contracting with other nationals. Schnabel found out about it and dropped me without paying about $2000.00 in unpaid invoices. Since then I keep hearing things through the grapevine that Schnabel and their sub-contractor have been pooh poohing my reputation and quality of work.
Sponsored Links
Advertisement
 
post #4 of 47 (permalink) Old 11-17-2011, 11:13 AM
derrickp
Guest
 
Posts: n/a
Quote:
Originally Posted by a1propertyclean
Revenue sharing? Never heard of that one. So that means, they'll split their profits with you? Interesting. Where do you suppose those profits come from?:whistling

Linda
they charge 40 for a lock change. the lock cost me 5. they get 20 i get 15 with out any reimbustment. i have cut my ties with them. i didnt think the revenue sharing was part of the PP business.
post #5 of 47 (permalink) Old 11-17-2011, 11:16 AM
Property Preservation
 
Join Date: Apr 2012
Posts: 883
Thanks: 34
Thanked 28 Times in 16 Posts
Quote:
Originally Posted by derrickp
they charge 40 for a lock change. the lock cost me 5. they get 20 i get 15 with out any reimbustment. i have cut my ties with them. i didnt think the revenue sharing was part of the PP business.
So, basically, they take 50% off the gross invoice and no reimbursements. I suppose their argument would be that they have as much in expenses on their end as you do on your end?

I would never go for that arrangement. To me, it's just .

Linda
APlusPPGroup is offline  
The Following User Says Thank You to APlusPPGroup For This Useful Post:
Racerx (01-09-2013)
post #6 of 47 (permalink) Old 11-17-2011, 04:34 PM
Super Moderator
 
BPWY's Avatar
 
Join Date: Apr 2012
Location: MT
Posts: 4,096
Thanks: 1,470
Thanked 772 Times in 468 Posts
Quote:
Originally Posted by a1propertyclean
I suppose their argument would be that they have as much in expenses on their end as you do on your end?

I would never go for that arrangement. To me, it's just .

Linda




Suuuuuuuuure they do.


And no I wouldn't go along with that either.
BPWY is offline  
post #7 of 47 (permalink) Old 11-17-2011, 09:56 PM
metropaintingco
Guest
 
Posts: n/a
We had one of these offers as well, I disposed it in the trash. This is interesting, we invest money, equipment, labor and sharing 50%. That means that if HUD pays 50.00per QY we get 25.00 and we pay to the crews and to dispose it.... So, we work for free.........
post #8 of 47 (permalink) Old 11-18-2011, 12:16 AM
FremontREO
Guest
 
Posts: n/a
Quote:
Originally Posted by 72opp
Good Morning,

There is a company based out of Hedrum, MN (Schnabel) who take 50% of profits but reimburse contractors 50% of costs. I cannot put my finger on it, but I do not like that setup. But they are a regional that cover parts of ND, SD, and MN (parts not all) and they can hold a grudge.

I started out being a sub-sub-contractor for Schnabel. I thought I was making good money ($1000.00 a week at first) but then the "good ole boy" network started up and another contractor with a personal relationship to Schnabel took over 95% of work orders. That's when I started contracting with other nationals. Schnabel found out about it and dropped me without paying about $2000.00 in unpaid invoices. Since then I keep hearing things through the grapevine that Schnabel and their sub-contractor have been pooh poohing my reputation and quality of work.
OK I don't think you are looking at this correctly

This Schnabel is paying 50% of the expense:
1) charge for fuel to and from jobsite
2) charge for fuel to and from landfill
3) charge for the landfill bill
4) charge for 3 men for 8 hour day at $42.00/hour
5) charge for cost of the daily insurance rate for GL, WC, Auto ins etc
6) charge for the photography time with uploading
7) charge for the clerical time at $28.00/hour for invoicing
8) charge for the utility bill for electrical usage for lights and computer usage
9) charge for vehicle and equipment depreciation

Heck the way I see it the labor will eat up 150% of the total cost of the job and they are paying 50% of these costs and then 50% of the leftover (profit)......HMMM sounds like you could come out like a bandit...just got to know how to work the system
post #9 of 47 (permalink) Old 11-18-2011, 07:34 AM
DreamWeaver
Guest
 
Posts: n/a
Quote:
Originally Posted by FremontREO
OK I don't think you are looking at this correctly

This Schnabel is paying 50% of the expense:
1) charge for fuel to and from jobsite
2) charge for fuel to and from landfill
3) charge for the landfill bill
4) charge for 3 men for 8 hour day at $42.00/hour
5) charge for cost of the daily insurance rate for GL, WC, Auto ins etc
6) charge for the photography time with uploading
7) charge for the clerical time at $28.00/hour for invoicing
8) charge for the utility bill for electrical usage for lights and computer usage
9) charge for vehicle and equipment depreciation

Heck the way I see it the labor will eat up 150% of the total cost of the job and they are paying 50% of these costs and then 50% of the leftover (profit)......HMMM sounds like you could come out like a bandit...just got to know how to work the system
That would never happen Remember, these outfits think that if you charge $35 for a grass cut, that you made $35 profit. All those miscellaneous things you referred to above shouldn't be factored for when running a P&P biz......
post #10 of 47 (permalink) Old 11-18-2011, 09:14 AM
FremontREO
Guest
 
Posts: n/a
Quote:
Originally Posted by DreamWeaver
That would never happen Remember, these outfits think that if you charge $35 for a grass cut, that you made $35 profit. All those miscellaneous things you referred to above shouldn't be factored for when running a P&P biz......
Isn't that the truth! COB is a voodoo term to these people
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the REO Property Preservation Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome