Msi cost estimator policy - REO Property Preservation Forum
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post #1 of 29 (permalink) Old 07-18-2016, 03:13 PM Thread Starter
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Msi cost estimator policy

so anyone submitting their bids on PRESERVATION for every single work order on mSI on Cost Estimator?

We believe as long as you have all measurements and details on their BID SECTION everything should be ok. We are getting rejections like crazy about not creating our bids on a CE. It cost money to do this they are not paying for it, anyone with this issue.?

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post #2 of 29 (permalink) Old 07-18-2016, 04:54 PM
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It's not a requirement for my client, but I do it anyway. It does cost money, but I find it pays for its self.

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post #3 of 29 (permalink) Old 07-18-2016, 09:29 PM
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I smell kickbacks to MSI from cost estimator companies..................
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post #4 of 29 (permalink) Old 07-19-2016, 07:51 PM
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I don't understand how this would pay for itself. If you manage lets say 100 properties that needs bid and it cost $10 ea estimate you are spending $1000 of your own money for them to tell you how much it is ok to charge. I believe that I set my own prices and if you don't like them, then find someone else to do the work. In the P&P game maybe 10% of those bids get approved, so your getting 10 bid approvals on 100 properties... That sounds like crappy odds to me.
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post #5 of 29 (permalink) Old 07-19-2016, 08:00 PM
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Originally Posted by madxtreme01 View Post
I don't understand how this would pay for itself. If you manage lets say 100 properties that needs bid and it cost $10 ea estimate you are spending $1000 of your own money for them to tell you how much it is ok to charge. I believe that I set my own prices and if you don't like them, then find someone else to do the work. In the P&P game maybe 10% of those bids get approved, so your getting 10 bid approvals on 100 properties... That sounds like crappy odds to me.
To each his own. It more than pays for it self for me.

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post #6 of 29 (permalink) Old 07-20-2016, 01:23 PM
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It's not a requirement for my client, but I do it anyway. It does cost money, but I find it pays for its self.

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How so? Estimator doesn't allow for your values.
This is a free market
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post #7 of 29 (permalink) Old 07-20-2016, 04:29 PM
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How so? Estimator doesn't allow for your values.
This is a free market
This is an argument I read a lot on this forum.
You are correct it is a free market, but free market works both ways. I am free to accept the numbers that the estimator gives.

That being said, the only issue I have with the estimator is on low end bids. I.e 6lf of soffit or fascia etc. In this case I use the minimum charge option.

I think the bigger argument is that as preservation contractors we've gotten away from our normal scope of work.

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post #8 of 29 (permalink) Old 07-20-2016, 07:41 PM
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Originally Posted by oteroproperties View Post
This is an argument I read a lot on this forum.
You are correct it is a free market, but free market works both ways. I am free to accept the numbers that the estimator gives.

That being said, the only issue I have with the estimator is on low end bids. I.e 6lf of soffit or fascia etc. In this case I use the minimum charge option.

I think the bigger argument is that as preservation contractors we've gotten away from our normal scope of work.

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what do you mean by getting away from our normal scope of work? Was there ever really a normal scope? I thought it was do anything they throw at us and see what sticks.
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post #9 of 29 (permalink) Old 07-20-2016, 08:12 PM
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what do you mean by getting away from our normal scope of work? Was there ever really a normal scope? I thought it was do anything they throw at us and see what sticks.
That depends on how long you've been doing preservation. When I started it was general securing, grass cuts, interior exterior infestation and hazard removal, damage reporting with EYEBALL estimates. We patched roofs but temporary patches. I.e. rolled roof and tar over leaking area or roof tarps. Now we are soffit guys, roof guys, windows guys, plumbers, electricians, mold remediation, deck dock and stair builders, tree guys, exterminators, painters, pressure washers, pool guys, demo guys, cleaners etc.....and that's just the things I can think of. All for at best case 20% less than market rate.

We are not general contractors we are preservation contractors. We "preserve" assets it was never supposed to be our job to improve them. Sure, there are some general / building contractors doing this work, but I've always found that odd. I'm sure in some states it's a requirement so I can't speak to what should be done there, but for me, if I was a general or building contractor I wouldn't touch preservation. Wouldn't seem necessary.

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post #10 of 29 (permalink) Old 07-20-2016, 10:35 PM
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That depends on how long you've been doing preservation. When I started it was general securing, grass cuts, interior exterior infestation and hazard removal, damage reporting with EYEBALL estimates. We patched roofs but temporary patches. I.e. rolled roof and tar over leaking area or roof tarps. Now we are soffit guys, roof guys, windows guys, plumbers, electricians, mold remediation, deck dock and stair builders, tree guys, exterminators, painters, pressure washers, pool guys, demo guys, cleaners etc.....and that's just the things I can think of. All for at best case 20% less than market rate.

We are not general contractors we are preservation contractors. We "preserve" assets it was never supposed to be our job to improve them. Sure, there are some general / building contractors doing this work, but I've always found that odd. I'm sure in some states it's a requirement so I can't speak to what should be done there, but for me, if I was a general or building contractor I wouldn't touch preservation. Wouldn't seem necessary.

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Yea I guess your right, I've been doing this since 2010 and it seems like they have been approving more and more work for less and less money. Bid approvals used to be for either roofs, mold, or exterior work. That was really it. Now they want us to be capable of doing anything and everything. I am a licensed general contractor, but that's because I'm required to be to work on these houses. I don't want to deal with people and home renovations, not my thing.
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