Curious About HUD? - REO Property Preservation Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 16 (permalink) Old 12-22-2012, 01:09 AM Thread Starter
Member
 
Blonde25's Avatar
 
Join Date: Dec 2012
Location: Menifee CA
Posts: 53
Thanks: 8
Thanked 19 Times in 11 Posts
Curious About HUD?

At the risk of being laughed at, What the heck is HUD? I have only ever done Fannie Mae and Bank of America work, so I have never had the opportunity to really research HUD. We did a HUD job for REO allegiance at one point and it was a ton of bidding and waiting etc. If anyone can enlighten me please Also, this Sentinel Company keeps sending me emails saying they are awarded HUD in several states, I attached it below if anyone knows about them also.

[email protected]
9:46 AM (12 hours ago)

to me
FOR IMMEDIATE RELEASE:

Sentinel Field Services, Inc. awarded multiple HUD Field Service Management Contracts

Clearfield, Utah December 21, 2012 The United Stated Department of Housing and Urban Development announced today that Sentinel Field Services, Inc. (SFS) was awarded additional contracts for Field Service Management throughout the United States.

HUD awarded Field Service Management contracts to SFS in the territories of 4D and 5S which include the states of California, Hawaii, Iowa, Nebraska, South Dakota and Wisconsin.

SFS, was already awarded operates Field Service Management Contracts in Alaska, Washington, Oregon, Montana, Wyoming, North Dakota and Minnesota, bringing SFSs total coverage to twenty-one different states.

As a result of the award of these four contracts, SFS is seeking qualified vendors with HUD experience in all of the states we will be servicing. SFS is particularly interest in acquiring new vendors in Iowa, Nebraska and North Dakota. More information can be found on the SFS website at http://www.sfsco.net.

SFS, based in Clearfield, Utah, is a full service property preservation, asset management, property maintenance, inspection and field services company specializing in REO, foreclosure, and loss mitigation within the real estate mortgage default industry.
Blonde25 is offline  
Sponsored Links
Advertisement
 
post #2 of 16 (permalink) Old 12-22-2012, 01:45 AM
Senior Member
 
Join Date: Apr 2012
Location: ohio
Posts: 568
Thanks: 137
Thanked 307 Times in 177 Posts
they have to do something they lost their SG account.
hammerhead is offline  
post #3 of 16 (permalink) Old 12-22-2012, 06:46 AM
Contractor
 
JFMURFY's Avatar
 
Join Date: Sep 2012
Location: CT
Posts: 486
Thanks: 81
Thanked 151 Times in 79 Posts
[QUOTE=Blonde25;40560][COLOR="Magenta"]At the risk of being laughed at, What the heck is HUD?

HUD- US Dept of Housing & Urban Development. HUD is generally considered Step 1 in the P&P food chain. They make policy, Mandate cost allowables for work. They also manage thousands of property's getting them ready for Sale.
The do put out government contracts to Area marketers and property managers.
Do research on the outfit that is contacting you before jumpin on-board with them.
Their bid etc is public information thru HUD.
JFMURFY is offline  
Sponsored Links
Advertisement
 
post #4 of 16 (permalink) Old 12-22-2012, 08:05 AM
Business Consultant
 
Cleanupman's Avatar
 
Join Date: Nov 2012
Location: Silver Springs, Nevada
Posts: 1,380
Thanks: 322
Thanked 564 Times in 339 Posts
They did get the 3.6 award for those states...
Tis is a first to my knowledge...in the past they have always been subbing. this is the first direct contract...again to my knowledge...

Courious as to the numbers they are offering

Aladay LLC
Property Preservation
New Business Consultant
Custom Glass&Wood
Cleanupman is offline  
post #5 of 16 (permalink) Old 12-22-2012, 09:03 AM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,211
Thanks: 423
Thanked 929 Times in 465 Posts
Quote:
Originally Posted by hammerhead View Post
they have to do something they lost their SG account.
Nobody loses a SG account. They throw it back at SG, laughing!
I know for a fact that is what Sentinel did!

Ive already told you more than I know.
PropPresPro is offline  
The Following User Says Thank You to PropPresPro For This Useful Post:
thanohano44 (12-23-2012)
post #6 of 16 (permalink) Old 12-22-2012, 09:07 AM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,211
Thanks: 423
Thanked 929 Times in 465 Posts
Quote:
Originally Posted by Cleanupman View Post
They did get the 3.6 award for those states...
Tis is a first to my knowledge...in the past they have always been subbing. this is the first direct contract...again to my knowledge...

Courious as to the numbers they are offering
Worse than the numbers they offered when they were "subbing".
Unless the house next door becomes a HUD REO, I will not be able to help them with their $660,000,000+ HUD contract!

Ive already told you more than I know.
PropPresPro is offline  
post #7 of 16 (permalink) Old 12-22-2012, 09:23 AM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,211
Thanks: 423
Thanked 929 Times in 465 Posts
Quote:
Originally Posted by Blonde25 View Post
At the risk of being laughed at, What the heck is HUD? I have only ever done Fannie Mae and Bank of America work, so I have never had the opportunity to really research HUD. We did a HUD job for REO allegiance at one point and it was a ton of bidding and waiting etc. If anyone can enlighten me please Also, this Sentinel Company keeps sending me emails saying they are awarded HUD in several states, I attached it below if anyone knows about them also.

I worked for Sentinel for the last couple of years with mostly good experiences.

When they landed the HUD FSM contract, they kicked all their other clients to the curb so they could concentrate on HUD. Since they have now priced themselves way under the going market rate for my area, I have no choice but to decline their latest offer.

I don't know what they are offering in your area for pricing but can only imagine that the vendor pool is larger in SD county than it is in NW Montana & Sentinel knows they'll catch themselves a sucker there if they fish long enough.

Ive already told you more than I know.
PropPresPro is offline  
The Following User Says Thank You to PropPresPro For This Useful Post:
mtmtnman (12-23-2012)
post #8 of 16 (permalink) Old 12-22-2012, 10:22 AM Thread Starter
Member
 
Blonde25's Avatar
 
Join Date: Dec 2012
Location: Menifee CA
Posts: 53
Thanks: 8
Thanked 19 Times in 11 Posts
Thanks everyone! I appreciate all of the responses, they never sent out pricing I only received a questionnaire type asking what I charge for individual services. I never sent it back because I personally like Fannie, doing all services at one time at the property, yet these people keep emailing me. Maybe they are getting desperate. One day these companies will realize they need contractors in order to complete the work
Blonde25 is offline  
post #9 of 16 (permalink) Old 12-22-2012, 05:51 PM
Senior Member
 
Join Date: Sep 2012
Location: Baxter MN
Posts: 172
Thanks: 119
Thanked 99 Times in 59 Posts
I too filled out only enough info on thier question sheet for them to understand that I'm qualified to do the work. I asked to see a price list before I spend any additional time on any additional hoop jumping.
I refuse to go backward any further in this industry.
garylaps is offline  
post #10 of 16 (permalink) Old 12-22-2012, 08:18 PM
Senior Member
 
Join Date: Apr 2012
Posts: 694
Thanks: 42
Thanked 129 Times in 74 Posts
They contacted us here in Iowa about doing work.
Locks - $25
Padlocks - $20
Board 48-96 UI - $30
CYD - $20
Auto removal - $40
Dehumidifier - $200
Wint - $60
Initial janitorial - $75
Monthly maid - $25
Grass - $50 initial, $25 recut

We declined, we get 125-200% of these prices with SG.
SwiftRes is offline  
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










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