Not bidding - REO Property Preservation Forum
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post #1 of 63 (permalink) Old 03-28-2019, 05:33 PM Thread Starter
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Not bidding

Is it mandatory to bid on every issue u see in a home??
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post #2 of 63 (permalink) Old 03-28-2019, 08:32 PM
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If you want to maximize your profits absolutely
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post #3 of 63 (permalink) Old 03-29-2019, 08:05 AM Thread Starter
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Ok thanks. My follow up to that would be say for example a house needs a roof repaired, a new sump pump, cleanout, yard service, lock change etc.. but I don’t do roofs. Would it be economical to bid on the roof as well and sub it out to ensure I get the bid?? Or would the price that they want to pay for the roof be far less than what a roofer would normally charge?
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post #4 of 63 (permalink) Old 03-29-2019, 08:52 PM
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Ok thanks. My follow up to that would be say for example a house needs a roof repaired, a new sump pump, cleanout, yard service, lock change etc.. but I don’t do roofs. Would it be economical to bid on the roof as well and sub it out to ensure I get the bid?? Or would the price that they want to pay for the roof be far less than what a roofer would normally charge?

Let's back the truck up a little bit here....

NOTHING is mandatory. Everything you do in this biz is a choice. That said....

If you don't bid a roof in bad shape, and you don't report it in any way, you could be on the hook for that new roof at your cost...or a sump, or mold, or whatever is in need of repair. Many companies however, have built into there upload program that if a damage is reported, it won't let you close the work order without a bid.

I also am not too fond of roofing. I have on several occasions put several thousand in my pocket by overseeing a 3rd party roofer. Bid whatever makes YOU happy to get the job done. Yes, many times your bid will be too high...but then other times they just might go for it for whatever unexplained reason. I once bid $3,000 to drive 3 hours one way to tarp a roof. I was really busy and didn't feel like doing it...yeah, it got approved and some other stuff got put off for the easy money. I was REALLY happy.

Again, bid all for whatever makes YOU happy.

Oh, and when they tell you your bid doesn't match their cost estimator, politely tell them to go ahead and get a second opinion and that you are not offended by that.
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post #5 of 63 (permalink) Old 03-30-2019, 06:21 AM
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I bid things I dont want to do extremely high I mean stupid high and I'll be honest I've had a few approved and we got them done because if it's a 2500$ job in all actuality bid it 6000$ if its approved you will find a way to get it done if not you really didn't want it anyway so no hard feelings correct?
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post #6 of 63 (permalink) Old 03-30-2019, 06:26 AM
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But by no means ever leave a property without addressing these issues because more now than ever there putting alot of these 3rd party charge backs on us if we fail to address an issue they have the ability to keep your $ whenever they want to keep that in mind if you want your $ and they want to be jerks they can force your hand if you get yourself into a situation for them to do so bottom line dont give them a reason
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post #7 of 63 (permalink) Old 03-30-2019, 10:56 AM Thread Starter
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So take it or leave it pretty much. I like that. Thanks for the clarification safegaurd dropout and mountaineer.. I’m still in the intitial research phase of this whole thing and have so many questions. I do a lot of research but nothing beats talking to the people actually doing it.
post #8 of 63 (permalink) Old 03-30-2019, 08:54 PM Thread Starter
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As far as starting up..Any recommendations on insurance companies?? Can I go monthly or do you have to pay a year up front?
post #9 of 63 (permalink) Old 03-30-2019, 10:56 PM Thread Starter
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Also when they talk about using a cost estimator for certain things.. any suggestions on which to use and where to find it??
post #10 of 63 (permalink) Old 03-31-2019, 09:42 PM
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5-600$ for 6 months of general liability 1 million $ policy not to bad
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