Speaking of NUTZ - REO Property Preservation Forum
 
LinkBack Thread Tools Display Modes
post #1 of 9 (permalink) Old 05-04-2013, 07:34 PM Thread Starter
Super Moderator
 
BPWY's Avatar
 
Join Date: Apr 2012
Location: MT
Posts: 4,096
Thanks: 1,470
Thanked 774 Times in 468 Posts
Speaking of NUTZ

I was told today that a large reason why the nationals and regionals are demanding the vast number of photos they are is that they sell the photos and condition reports to investors so they can make a more informed decision at the court house steps when buying properties sight unseen.

I heard they are getting the handsome sum of $1.25 per photo and pay the contractors.................. NOTHING.



I heard some other things too that may be part of a legal case, I'm not divulging that.


But seriously.................... what else are these super greedy clowns doing to cheat the contractors out of money?????
Think about it. They sure have.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
BPWY is offline  
Sponsored Links
Advertisement
 
post #2 of 9 (permalink) Old 05-04-2013, 08:02 PM
Senior Member
 
Join Date: Oct 2012
Posts: 203
Thanks: 10
Thanked 75 Times in 46 Posts
who is your source on that info? I find that hard to believe, hud requires photos and I don't see a national maybe a regional selling photos. That's would be a huge slap on the face by HUD if somebody was caught doing that.
wmhlc is offline  
The Following User Says Thank You to wmhlc For This Useful Post:
Zoly2 (05-04-2013)
post #3 of 9 (permalink) Old 05-04-2013, 08:23 PM Thread Starter
Super Moderator
 
BPWY's Avatar
 
Join Date: Apr 2012
Location: MT
Posts: 4,096
Thanks: 1,470
Thanked 774 Times in 468 Posts
At this point I'm not able to say who, but I believe the industry is going to blow wide open by years end.

I'm told the practice has been going on for an extended time.

I also believe from things I hear that the level corruption in this industry is far far beyond most folks, if not all, imagination.
The HuffPo articles are going to be bring some interesting things to light as they continue to come out.
I believe they've released 2 out of a series of 6.

I've heard a lot of things over the last few years from industry insiders or those that have left various nationals or regionals, but now the pace seems to be stepping up and may lead to investigations by the IRS, DOJ, HUD etc.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
BPWY is offline  
Sponsored Links
Advertisement
 
post #4 of 9 (permalink) Old 05-04-2013, 08:47 PM
Senior Member
 
Join Date: Apr 2012
Posts: 2,403
Thanks: 1,518
Thanked 533 Times in 287 Posts
Quote:
Originally Posted by wmhlc View Post
who is your source on that info? I find that hard to believe, hud requires photos and I don't see a national maybe a regional selling photos. That's would be a huge slap on the face by HUD if somebody was caught doing that.
From what I'm told, HUD and the banks RARELY look at the photos and yes, many times investors do get photos from the Nationals. The levels of income for the Nationals in this business are mind blowing.......
mtmtnman is offline  
post #5 of 9 (permalink) Old 05-04-2013, 09:00 PM Thread Starter
Super Moderator
 
BPWY's Avatar
 
Join Date: Apr 2012
Location: MT
Posts: 4,096
Thanks: 1,470
Thanked 774 Times in 468 Posts
I've said for years that IF they were inspecting the pics a lot of the insanity would NOT be taking place.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
BPWY is offline  
post #6 of 9 (permalink) Old 05-04-2013, 09:07 PM
P3+
Motivator
 
P3+'s Avatar
 
Join Date: Aug 2012
Posts: 267
Thanks: 41
Thanked 166 Times in 79 Posts
Doesn't surprise me a bit. When you have holding firms selling off blocks of 1,500 homes to investors at a tim. There is bound to be somebody willing to walk the shaded line in an effort to gain the upper hand.
Unfortunately, even if exposed little will change. It's racketeering at it's finest, but easily skirted in a court of law with so many damn loopholes to squeak through. Much like Wall Street, the "haves" will still find a way to bilk the system.
P3+ is offline  
The Following User Says Thank You to P3+ For This Useful Post:
mtmtnman (05-04-2013)
post #7 of 9 (permalink) Old 05-04-2013, 11:39 PM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,215
Thanks: 423
Thanked 930 Times in 466 Posts
Quote:
Originally Posted by BPWY View Post
? . .I also believe from things I hear that the level corruption in this industry is far far beyond most folks, if not all, imagination. . .
I have personally witnessed a level of fraud and corruption from one greedy regional company in the last 2 weeks that I haven't seen since I started in this industry.

Remember the saying, "when a small man casts a big shadow, the sun's about to set"? Well folks, it's evening time!

More info is coming in the near future. . .

Iíve already told you more than I know.
PropPresPro is offline  
The Following 5 Users Say Thank You to PropPresPro For This Useful Post:
BPWY (05-05-2013), BRADSConst (05-04-2013), Cleanupman (05-06-2013), mtmtnman (05-05-2013), Weisspropmaintenance (05-05-2013)
post #8 of 9 (permalink) Old 05-06-2013, 08:59 PM
Business Consultant
 
Cleanupman's Avatar
 
Join Date: Nov 2012
Location: Silver Springs, Nevada
Posts: 1,380
Thanks: 322
Thanked 564 Times in 339 Posts
The Huff. Post article was just the tip of the iceberg...

Aladay LLC
Property Preservation
New Business Consultant
Custom Glass&Wood
Cleanupman is offline  
post #9 of 9 (permalink) Old 07-13-2013, 12:30 AM
Super Moderator
 
PropPresPro's Avatar
 
Join Date: Apr 2012
Location: Big Sky Country
Posts: 1,215
Thanks: 423
Thanked 930 Times in 466 Posts
Quote:
Originally Posted by PropPresPro View Post
I have personally witnessed a level of fraud and corruption from one greedy regional company in the last 2 weeks that I haven't seen since I started in this industry.

Remember the saying, "when a small man casts a big shadow, the sun's about to set"? Well folks, it's evening time!

More info is coming in the near future. . .

QUICK UPDATE:

The fact that a major national company has recently lost one of its major clients in multiple states is directly related to the actions of the above mentioned "greedy regional company".

Amazing how it took a small group of honest P&P contractors to compile and step forward to bring all this fraud to light to get the ball rolling. Something that the big nationals QC department either refused or just plain failed to do.

It brings a smile to my face every time I think about it.

Iíve already told you more than I know.
PropPresPro is offline  
The Following 3 Users Say Thank You to PropPresPro For This Useful Post:
BPWY (07-13-2013), mtmtnman (07-13-2013), Valley (07-13-2013)
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