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post #1 of 5 (permalink) Old 06-01-2016, 09:04 AM Thread Starter
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Question REO decline?

With the decline in the need for REO vendors, what have your businesses morphed into? Is anyone else having a decreased volume in work and what are you doing to compensate?

Since we have seen a major fall in the foreclosure rates around us and we are not full P&P, but also a GC who does repair and rehab we have geared toward more residential, some government contracts and appealing to national companies in a strictly repair and rehab basis.

I am just curious to see everyone else's plans or if anyone else is seeing the huge decrease in volume we have over the last several months...

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post #2 of 5 (permalink) Old 06-01-2016, 09:17 AM
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With the decline in the need for REO vendors, what have your businesses morphed into? Is anyone else having a decreased volume in work and what are you doing to compensate?

Since we have seen a major fall in the foreclosure rates around us and we are not full P&P, but also a GC who does repair and rehab we have geared toward more residential, some government contracts and appealing to national companies in a strictly repair and rehab basis.

I am just curious to see everyone else's plans or if anyone else is seeing the huge decrease in volume we have over the last several months...

I was hoping to move to Vegas and become a Gigaloo.....Sigh..... Sadly we have just been doing more private work.
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post #3 of 5 (permalink) Old 06-01-2016, 09:43 AM Thread Starter
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I was hoping to move to Vegas and become a Gigaloo.....Sigh..... Sadly we have just been doing more private work.
HAHA Yeah...I was thinking stripper LOL! I would make much more money with less work. haha

But yes, private work seems to be the way we are heading.

Nationals are getting really hard to work for. Yes, they have the volume, however they keep wanting us to cross over from repair/rehab to P&P, and we have been pretty solid on staying out of P&P. We use repairbase for our bids which most of our clients use as well and they are wanting 30-40% discounts which leaves no money to be made. It gets incredibly frustrating arguing prices non-stop. Granted, dealing with residential clients who want to sit and talk the entire time the crew is working is just as frustrating at least they are giving us the pricing we deserve without argument.
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post #4 of 5 (permalink) Old 06-01-2016, 10:16 AM
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HAHA Yeah...I was thinking stripper LOL! I would make much more money with less work. haha

But yes, private work seems to be the way we are heading.

Nationals are getting really hard to work for. Yes, they have the volume, however they keep wanting us to cross over from repair/rehab to P&P, and we have been pretty solid on staying out of P&P. We use repairbase for our bids which most of our clients use as well and they are wanting 30-40% discounts which leaves no money to be made. It gets incredibly frustrating arguing prices non-stop. Granted, dealing with residential clients who want to sit and talk the entire time the crew is working is just as frustrating at least they are giving us the pricing we deserve without argument.
Our area is different I guess. We have more difficulty getting a good price from our private clients than we do the nationals right now. Everything is cyclical so I am sure it's just a phase.
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post #5 of 5 (permalink) Old 06-01-2016, 12:14 PM Thread Starter
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Our area is different I guess. We have more difficulty getting a good price from our private clients than we do the nationals right now. Everything is cyclical so I am sure it's just a phase.
That is what I am hoping. We cover 90% of Florida (everything but the panhandle) and we do not utilize subs at all, it is all in house (except electric and plumbing). However, where our main office is located is in Central Florida, where there is hardly anything as far as foreclosures go. So I am hoping things pick up again.
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