AMS Cash For Keys - REO Property Preservation Forum
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post #1 of 15 (permalink) Old 05-13-2013, 04:27 PM Thread Starter
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AMS Cash For Keys

At ams last flat rate I found it difficult to turn a profit but now it has become impossible.

They have a new flat rate price under the guise of cash for keys which drops the former trash out price of $440 down to $175.

So if you are assigned a condo with no landscaping the most you can expect to get paid is $300 ($175 plus $125 cleaning) and if you get less than a perfect score you will only gross $240 after they take the 20%.

I was told that the cash for keys orders should have less than 8 cyds. So what this means to me is no more easy jobs. The broker will probably report how much debris there is and regardless of if it was a real cash for keys or not they will knock the price down on every order they can
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post #2 of 15 (permalink) Old 05-13-2013, 08:09 PM
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With AMS on a CFK order are you not meeting the Realtor and former occupant for a CFK exchange? At which point you inspect the property and it either passes or fails? Every CFK contract I've seen states the property has to be free of debris AND fully cleaned in order to receive their check.
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post #3 of 15 (permalink) Old 05-13-2013, 08:48 PM
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Originally Posted by ontimepres View Post
With AMS on a CFK order are you not meeting the Realtor and former occupant for a CFK exchange? At which point you inspect the property and it either passes or fails? Every CFK contract I've seen states the property has to be free of debris AND fully cleaned in order to receive their check.
Same here! If they are reducing there flat fee too low it is time to say no! I stopped working for FAS when they went to there flat rate! It`s simply if there`s not a profit don`t do it!
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post #4 of 15 (permalink) Old 05-13-2013, 08:59 PM Thread Starter
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With AMS on a CFK order are you not meeting the Realtor and former occupant for a CFK exchange? At which point you inspect the property and it either passes or fails? Every CFK contract I've seen states the property has to be free of debris AND fully cleaned in order to receive their check.
That's how it was with b of a and everybody else. You don't need the broker or previous occupant. So on our end nothing has changed just a lower pay and work order title
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post #5 of 15 (permalink) Old 05-13-2013, 11:14 PM
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Here the Broker handles the CFK--- No Contractor Allowed. The Broker is told that they prior occupant can leave 5-10cyd of debris and the cleanup crew will remove it.

Last week we helped a prior occupant remove the last 10cyd on the top of their trailer and jammed into their Surburban so the cleanout crew didn't have to haul it off... We were changing the locks for the Realtor and the Realtor was trying to get the prior homeowner to get it ALL packed off.....

I feel sorry for the AMS crews!!!
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post #6 of 15 (permalink) Old 05-15-2013, 05:04 PM
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they sent me one of these, thank god i'm done doing preservation work. its starting to become a joke. AMS isn't all too bad with their flats (not good either) but i did about 60 initials and it usually balanced out, some had 20-30 yards but many of them had only 0-10. i think this is just a way you cut your check a little more. If your in an area where they don't have a lot of contractors just say you won't do them or you will do them for your initially agreed upon flat rate. Saying NO feels soo good
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post #7 of 15 (permalink) Old 05-15-2013, 06:10 PM
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we just did one with literally 10 cyds. They cancel the cfk and pay flat rate. The forst one we did was less than 1 cyd, so i was happy to not only be making $100 on a jani. It really is win/lose some. But just think back to how depressed you were going 60 miles to a janitorial with 1 cyd that paid $32. And spending 12 hours to clean it. I am not opposed to the flat fee at all. At least you know what your making for the day. And Im sure many will disagree, but I lost a lot of money with the individual cyd pricing and paying labor.
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post #8 of 15 (permalink) Old 05-17-2013, 12:05 AM
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I have had about 6-7 orders from them and none of them have been over 5 cyds. and the furthest one was 18 miles from my shop/office.
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post #9 of 15 (permalink) Old 05-17-2013, 06:13 PM
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we just did one with literally 10 cyds. They cancel the cfk and pay flat rate. The forst one we did was less than 1 cyd, so i was happy to not only be making $100 on a jani. It really is win/lose some. But just think back to how depressed you were going 60 miles to a janitorial with 1 cyd that paid $32. And spending 12 hours to clean it. I am not opposed to the flat fee at all. At least you know what your making for the day. And Im sure many will disagree, but I lost a lot of money with the individual cyd pricing and paying labor.
you don't know what your making everyday, you are going into these jobs blind, tearing down pools and counting it cyrds? cleaning a completely disgusting house for 2 days for $150 before discount? you know what you may be getting paid, but you don't know what you will be spending til you get there.
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post #10 of 15 (permalink) Old 05-18-2013, 07:17 PM
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you don't know what your making everyday, you are going into these jobs blind, tearing down pools and counting it cyrds? cleaning a completely disgusting house for 2 days for $150 before discount? you know what you may be getting paid, but you don't know what you will be spending til you get there.
True, but that is in all cases. There is no way of knowing what any job looks like, zillow is unreliable, the realtor calls a house full of personals "a pick up truck full". I just feel like its a starting point to know i have x amount to work with. instead of I just spent $50 in gas, $200 in labor, and $30 in supplies- sorry kids no dinner next month because all of our jobs were 2 cyds last month and we paid to our savings account to get them done. I start out every day owing 2 guys 4 hours of labor at the least because they showed up and thats the law, so I like not always eating the small jobs. Its just my opinion
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