The $350 Initial - REO Property Preservation Forum
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post #1 of 24 (permalink) Old 02-06-2014, 11:19 AM Thread Starter
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The $350 Initial

Just curious if anyone on this forum is currently doing flat rate initials for regionals? I recently had an "offer to work" for a regional out of California. The two orders he had were approx 75-90 miles one way, required all initial services for $350 and then calling in for approval for a long list of items.
This was not a craiglister-they solicit thru local banks and brokers.
I know folks are concerned about getting bashed if they post about this topic but I would honestly like to hear from some people who are doing them and how do they make them work? Maybe I'm stuck in yesterday and can't handle the new math.
I'm not looking to debate anyone: I already declined the guy and he knows why. I would just like to hear some honest input from those who are/have a few of these under their belts. Tell me why you or your biz can put a little profit in the bank on these. The extras? Quick turnaround?
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post #2 of 24 (permalink) Old 02-06-2014, 12:16 PM
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350

I. Doing this right now...same price...
350...includes 20yds of debris...Janitorials....lawn cut which. Includes any bushes and trees on the perimeter touching the home
250...for condos...Janitorials and debris

I'm in west palm beach...these units are close to each other and I'm still having a tough time making money...

The problem is they beat you up over debris...and they have 3 different inspectors white glove the unit...and they make you return the unit for all kinds of BS

We did a condo....with about a bag of trash and Janitorials...cleaned in 2 hours...

Then we bid a condo...3rd floor full of furniture and trash...and it was filthy
I reported 38 yds....18 over the 20...they refused...said I had to take the good with the bad...they came back with a counter offer 370....so generous...

They do this all the time...so now I have gone out to work directly for realtors
It pays a lot better and a lot less stress
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post #3 of 24 (permalink) Old 02-06-2014, 12:34 PM Thread Starter
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Again, I'm not knocking, just asking.

Hypothetically-
20cyds @ say $32.50 is $650
Sales Clean is $125
Initial Yard $75
Looks like, with generic numbers you are at about $845 with no securing or winterization?

Expenses on a $350 job are-
with 20 cyds you will have to pay for the dump.
$65-$100
One helper $100
Materials-gloves, trash bags, fuel for mower, truck, etc-$35


I'm painting this with a broad brush so others can put a little color on this.
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post #4 of 24 (permalink) Old 02-06-2014, 01:30 PM
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Quote:
Originally Posted by GTX63 View Post
Again, I'm not knocking, just asking.

Hypothetically-
20cyds @ say $32.50 is $650
Sales Clean is $125
Initial Yard $75
Looks like, with generic numbers you are at about $845 with no securing or winterization?

Expenses on a $350 job are-
with 20 cyds you will have to pay for the dump.
$65-$100
One helper $100
Materials-gloves, trash bags, fuel for mower, truck, etc-$35


I'm painting this with a broad brush so others can put a little color on this.
We did a couple of $1,000.00 initials for VRM as a favor to a realtor I wanted to keep happy. Even on clean properties that sold fast we really didn't make any money.
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post #5 of 24 (permalink) Old 02-06-2014, 02:12 PM
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Right on

Those numbers are good....almost exactly what I deal with...

On my way to a job from realtor....500.00 to put trash on the curb and broom sweep the unit....
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post #6 of 24 (permalink) Old 02-06-2014, 06:57 PM
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Quote:
Originally Posted by GTX63 View Post
Just curious if anyone on this forum is currently doing flat rate initials for regionals? I recently had an "offer to work" for a regional out of California. The two orders he had were approx 75-90 miles one way, required all initial services for $350 and then calling in for approval for a long list of items.
This was not a craiglister-they solicit thru local banks and brokers.
I know folks are concerned about getting bashed if they post about this topic but I would honestly like to hear from some people who are doing them and how do they make them work? Maybe I'm stuck in yesterday and can't handle the new math.
I'm not looking to debate anyone: I already declined the guy and he knows why. I would just like to hear some honest input from those who are/have a few of these under their belts. Tell me why you or your biz can put a little profit in the bank on these. The extras? Quick turnaround?
I wouldn't do the house next door to me for those numbers let alone drive 75-90 miles. I don't care if there is 10 yds of debris you're 90 miles from your base and you have to find a dump or haul it all the way back not worth the hassle. Just my 2 cents worth.
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post #7 of 24 (permalink) Old 02-06-2014, 07:02 PM
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We won't do them. Even with no debris at all, the numbers suck. We try to stay away from anything with a sales clean. Even at initial pricing, the time it takes to complete correctly versus the pay is not profitable for us.
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post #8 of 24 (permalink) Old 02-06-2014, 07:47 PM
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Originally Posted by S&Kpropertyservices View Post
We won't do them. Even with no debris at all, the numbers suck. We try to stay away from anything with a sales clean. Even at initial pricing, the time it takes to complete correctly versus the pay is not profitable for us.
My thoughts exactly. We HATE sales cleans. We also don't care for REO work because of the low ball package BS.
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post #9 of 24 (permalink) Old 02-07-2014, 08:37 AM
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We cherry pick the work. We completed five of these flat rate jobs for $365 last week. The longest one took 5 hours the fastest was 2 hours. We pass on the ones with the max debris counts for the flat rate.
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post #10 of 24 (permalink) Old 02-07-2014, 09:28 AM Thread Starter
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But how do you know what you have until you get there?
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