Throwing in the towel - REO Property Preservation Forum
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post #1 of 17 (permalink) Old 03-05-2013, 12:07 PM Thread Starter
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Throwing in the towel

Well, the day has come, we have decided it is no longer profitable to be in this business. Safeguard has squeezed every little bit of juice out of us and with the current demands of bidding everything, everytime (sometimes 20K plus bids when we are there for a simple grass cut), a few hundred photos to sort through, more and more trip charge for jobs that are two hours away (one way), etc., there is just no more room to even pay the bills.

So yesterday we send all our clients (some of whom we have worked with for many, many years) our goodbye's. We regret to have to let go of our employees, they have been great and loyal. I am not the owner, but since I have been here from the beginning and thus intimately involved in the business I feel like I am losing my business, even though it is "just" my job. I am still going to follow this forum, I am curious how things will end up in the end. I wish you all good luck. The owner and I have new plans and I am sure we'll be ok.
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post #2 of 17 (permalink) Old 03-05-2013, 02:32 PM
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Well, the day has come, we have decided it is no longer profitable to be in this business. Safeguard has squeezed every little bit of juice out of us and with the current demands of bidding everything, everytime (sometimes 20K plus bids when we are there for a simple grass cut), a few hundred photos to sort through, more and more trip charge for jobs that are two hours away (one way), etc., there is just no more room to even pay the bills.

So yesterday we send all our clients (some of whom we have worked with for many, many years) our goodbye's. We regret to have to let go of our employees, they have been great and loyal. I am not the owner, but since I have been here from the beginning and thus intimately involved in the business I feel like I am losing my business, even though it is "just" my job. I am still going to follow this forum, I am curious how things will end up in the end. I wish you all good luck. The owner and I have new plans and I am sure we'll be ok.
Sorry to hear (read) your heart filled departure. I wish the best for you and your employees. It would be a nice jesture to have a departure BBQ for the employees. I have done this in the past and it eases the "pain" and is a write off for the owner so its a win win .
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post #3 of 17 (permalink) Old 03-05-2013, 02:58 PM
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Well, the day has come, we have decided it is no longer profitable to be in this business. Safeguard has squeezed every little bit of juice out of us and with the current demands of bidding everything, everytime (sometimes 20K plus bids when we are there for a simple grass cut), a few hundred photos to sort through, more and more trip charge for jobs that are two hours away (one way), etc., there is just no more room to even pay the bills.

So yesterday we send all our clients (some of whom we have worked with for many, many years) our goodbye's. We regret to have to let go of our employees, they have been great and loyal. I am not the owner, but since I have been here from the beginning and thus intimately involved in the business I feel like I am losing my business, even though it is "just" my job. I am still going to follow this forum, I am curious how things will end up in the end. I wish you all good luck. The owner and I have new plans and I am sure we'll be ok.
Godspeed
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post #4 of 17 (permalink) Old 03-05-2013, 03:00 PM
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hi

hope you the best i have gave up all but 1 account and it is just local,same reasons not enough pay too much running,had to file a loss for last year
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post #5 of 17 (permalink) Old 03-05-2013, 04:17 PM
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Originally Posted by PPCMgr View Post
Well, the day has come, we have decided it is no longer profitable to be in this business. Safeguard has squeezed every little bit of juice out of us and with the current demands of bidding everything, everytime (sometimes 20K plus bids when we are there for a simple grass cut), a few hundred photos to sort through, more and more trip charge for jobs that are two hours away (one way), etc., there is just no more room to even pay the bills.

So yesterday we send all our clients (some of whom we have worked with for many, many years) our goodbye's. We regret to have to let go of our employees, they have been great and loyal. I am not the owner, but since I have been here from the beginning and thus intimately involved in the business I feel like I am losing my business, even though it is "just" my job. I am still going to follow this forum, I am curious how things will end up in the end. I wish you all good luck. The owner and I have new plans and I am sure we'll be ok.

I'm sorry and sad to see one of the great pp have to closed it door because of all these nonsense...............Remember this “When one door closes, another bigger and more beautiful opens!"; and May the Force be with you

Professional REO Rentals Maintenance, Property Preservation Specialist, Notary Public, Home Inspector

If you looking for a dynamic, high caliber PPI firm contact us today!
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post #6 of 17 (permalink) Old 03-05-2013, 08:27 PM
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I have these thoughts EVERY day These companies are over the top. They don't pay you for the REAL work you do and never EVER appreciate your saving the property from thousands of dollars in damages but gladly pay you for the stupid $hit. There is something about doing a job that you KNOW isn't right and still have to submit a pic of a a dehumidifier plugged a wall socket that is dead and is noted so in the list of property questions....AND getting paid for it. OR how about the pic of the thermostate set at 55 when there are pics of all the damage to the boiler and bids to replace the entire system... dumb, stupid, outragest.
When this economy turns around NOONE, I mean NOONE will put up with this $hit.
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post #7 of 17 (permalink) Old 03-05-2013, 08:33 PM
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Quote:
Originally Posted by PPCMgr View Post
Well, the day has come, we have decided it is no longer profitable to be in this business. Safeguard has squeezed every little bit of juice out of us and with the current demands of bidding everything, everytime (sometimes 20K plus bids when we are there for a simple grass cut), a few hundred photos to sort through, more and more trip charge for jobs that are two hours away (one way), etc., there is just no more room to even pay the bills.

So yesterday we send all our clients (some of whom we have worked with for many, many years) our goodbye's. We regret to have to let go of our employees, they have been great and loyal. I am not the owner, but since I have been here from the beginning and thus intimately involved in the business I feel like I am losing my business, even though it is "just" my job. I am still going to follow this forum, I am curious how things will end up in the end. I wish you all good luck. The owner and I have new plans and I am sure we'll be ok.
Good luck to you...keep us posted...if you will....

Aladay LLC
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post #8 of 17 (permalink) Old 03-05-2013, 09:29 PM
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I wish you the best...
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post #9 of 17 (permalink) Old 03-05-2013, 10:05 PM
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I completley get it, to be honest we have'nt done any property preservation work in over a year, after our last big client(Altisource) did their RFP things went from 100 mph to almost 0 and we went back to our orgin which was a general contractor , I read the forum daily just to stay in touch with things in the industry and I'm deluged daily with low ball offers from all of the "Regionals" that have popped up lately (today included)and I just can't see doing the same things we used to do for less than half the money.

The funny thing is as I'm out on my daily business I drive past properties where the snow has'nt been done sometimes weeks after the last snowfall,or numerous city citations taped to the doors for various infractions,more than likely because the "winner" of the RFP can't find a legitimate contractor to service these properties at their bottom basement prices. ...end of rant
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post #10 of 17 (permalink) Old 03-05-2013, 10:52 PM
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Good luck!


It`s funny to look back ten yrs ago and compare it to today! Fuels more, insurance cost more, materials cost more, ect but pay has went down! I guess it`s all the new guys getting in and not having a clue as to what their costs are or better yet letting a national tell them what they are!
Had a regional (off Lamco network ,THAT`s another rant!) call me the other day asking me if I could help them out with a winterization! I asked where it was and told them my price for a Dry wint was $100! They told me they only paid $45 for Dry Wint. I said I wouldn`t even pull my truck out of the drive for that!!!!!!!!

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