New Year New Goals or Same old Plan? - REO Property Preservation Forum
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post #1 of 6 (permalink) Old 12-29-2017, 09:09 AM Thread Starter
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New Year New Goals or Same old Plan?

I can tell by the number of threads on this site the industry has slowed. When things are hopping there is a new "anyone ever heard of XYZ Company" thread daily. Now we are only seeing 1 a month or so. Then you have the "I was burned by XYZ Company" threads and they have also slowed to a crawl.

Some quotes I always like to share with guys this time of year.

“The definition of insanity is doing the same thing over and over again, but expecting different results" - Albert Einstein

“Turtles Only Make Progress When They Stick Their Necks Out"- David Brock

Basically it's going to be a rough winter of writing work order numbers on the side of desiccant buckets in moldy basements if you plan to stick with the preservation business. It won't get much better come summer.

You have to try something different that fits with your skillset and resources. Meaning what you have to equipment, crews, and experience to perform.

This website like the industry has to evolve and I think this is an excellent time for discussion and feedback regarding what to do in 2018.
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post #2 of 6 (permalink) Old 12-30-2017, 05:35 PM
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Originally Posted by Craigslist Hack View Post
I can tell by the number of threads on this site the industry has slowed. When things are hopping there is a new "anyone ever heard of XYZ Company" thread daily. Now we are only seeing 1 a month or so. Then you have the "I was burned by XYZ Company" threads and they have also slowed to a crawl.

Some quotes I always like to share with guys this time of year.

“The definition of insanity is doing the same thing over and over again, but expecting different results" - Albert Einstein

“Turtles Only Make Progress When They Stick Their Necks Out"- David Brock

Basically it's going to be a rough winter of writing work order numbers on the side of desiccant buckets in moldy basements if you plan to stick with the preservation business. It won't get much better come summer.

You have to try something different that fits with your skillset and resources. Meaning what you have to equipment, crews, and experience to perform.

This website like the industry has to evolve and I think this is an excellent time for discussion and feedback regarding what to do in 2018.
Like several others, we as a company are going to concentrate a lot more on rehab work. We have a GC license and are skilled at most every aspect of home repair. About the only thing that we still sub out is most HVAC and tough roofs. Anything else we have covered.

People than fail to plan - plan to fail!!!
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post #3 of 6 (permalink) Old 02-06-2018, 08:00 AM Thread Starter
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What story does your pile of 1099's tell?
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post #4 of 6 (permalink) Old 02-09-2018, 01:08 AM
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Looks like 2018 will continue to prove what a waste of time working for nationals was, I thought we would be completely out of the preservation game by now, but we continue to get one or two trashout bids accepted per month and the associated repairs, misc work and maintenance that goes with them, total preservation $s are less but profit % is 4x higher than when we were trying to solve the volume makes up for poor pricing puzzle.

All the effort I put into growing the company is with construction and remodeling, but will continue to accept profitable preservation work as it comes
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post #5 of 6 (permalink) Old 02-12-2018, 11:58 PM
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Looks like 2018 will continue to prove what a waste of time working for nationals was, I thought we would be completely out of the preservation game by now, but we continue to get one or two trashout bids accepted per month and the associated repairs, misc work and maintenance that goes with them, total preservation $s are less but profit % is 4x higher than when we were trying to solve the volume makes up for poor pricing puzzle.

All the effort I put into growing the company is with construction and remodeling, but will continue to accept profitable preservation work as it comes
Right on! I'm doing the same, one or two work orders a week for NFR (about to dump them completely) and I've actually got a couple large regionals that have shown a willingness to pay me at their loss to get jobs done. Tarped a 10x10 roof and screw boarded 3 windows last week for $1100. In the meantime I'm taking classes for certifications for an entirely different career that has nothing to do with foreclosures. Can't wait to move on!
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post #6 of 6 (permalink) Old 02-13-2018, 08:05 AM Thread Starter
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Right on! I'm doing the same, one or two work orders a week for NFR (about to dump them completely) and I've actually got a couple large regionals that have shown a willingness to pay me at their loss to get jobs done. Tarped a 10x10 roof and screw boarded 3 windows last week for $1100. In the meantime I'm taking classes for certifications for an entirely different career that has nothing to do with foreclosures. Can't wait to move on!
That's awesome! Keep us posted on your next big thing!
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