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post #1 of 4 (permalink) Old 04-01-2015, 01:59 AM Thread Starter
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Question?

Ok so im trying to wrap my head around the whole Seas thing, so bare with me here.

Question? So Altisource subs work direct to Seas and seas subs it out to contractors. Now Ive must say up front that Ive been offered Altisource work direct and Ive seen their numbers. With that said i know i can make those number work but Ive got my hand full and don't want or need anymore.

So Seas i know doesn't pay as well as i do to the BOTG, and they are taking a much larger cut than what would have and with that volume how in the hell do you fail so miserably. Those guys must be down right stupid.

Now i know Altisourse does audits before they bring on a company, they wanted to see my numbers as part of the qualifying process, which i don't have a problem with. But how did Seas hide the fact they didn't have the reserves on hand to pay out to the BOTG.

Now i know for sure through some close friends that works for Altisourse that they do pay and pay on time.

So in closing i just don't get it, Altisourse drops the ball by hiring Seas, and Seas is just to damn stupid to take a account like that run with it.. as in straight to the bank.

If i wasn't so bogged down with work i would have taken that account a ran with it. Seriously this just doesn't make a lick of sense to me.

But then again nothing in this business does anymore. Between HSBC, OWCEN and Altisourse they have a 3.2 billion market cap.. Crazy? is it not.

IDK maybe it just growing pains for Altisourse..



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post #2 of 4 (permalink) Old 04-01-2015, 03:41 PM
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Originally Posted by Zuse View Post
Ok so im trying to wrap my head around the whole Seas thing, so bare with me here.

Question? So Altisource subs work direct to Seas and seas subs it out to contractors. Now Ive must say up front that Ive been offered Altisource work direct and Ive seen their numbers. With that said i know i can make those number work but Ive got my hand full and don't want or need anymore.

So Seas i know doesn't pay as well as i do to the BOTG, and they are taking a much larger cut than what would have and with that volume how in the hell do you fail so miserably. Those guys must be down right stupid.

Now i know Altisourse does audits before they bring on a company, they wanted to see my numbers as part of the qualifying process, which i don't have a problem with. But how did Seas hide the fact they didn't have the reserves on hand to pay out to the BOTG.

Now i know for sure through some close friends that works for Altisourse that they do pay and pay on time.

So in closing i just don't get it, Altisourse drops the ball by hiring Seas, and Seas is just to damn stupid to take a account like that run with it.. as in straight to the bank.

If i wasn't so bogged down with work i would have taken that account a ran with it. Seriously this just doesn't make a lick of sense to me.

But then again nothing in this business does anymore. Between HSBC, OWCEN and Altisourse they have a 3.2 billion market cap.. Crazy? is it not.

IDK maybe it just growing pains for Altisourse..




I think greed as alot to do with them going under. I like money as much as the next person, but I won't screw a sub out of money owed if the job was done right and got paid for it. I still have morels. I would love to know how many vacations, cars, or even houses were bought with money that was paid for work completed right and never paid to the subs.

But we see that even screwing subs out of money on jobs done correctly will get you. Down a rabbit home with no back door. Karma is a wonderful thing. And it has worked its magic on Seas, because they are now closing their doors. Its sad how some people let the money change their frame of mind and also not living within your means.

My grandfather ran a business for 40 yrs and something he told me when I first started. Buy low, sell high, and try to keep your overhead low. Never let the money change you and always take time off for yourself when needed. And most importantly be honest to others and yourself.
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post #3 of 4 (permalink) Old 04-01-2015, 09:36 PM
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They burned me out of around $700. If I hadn't started working with another great company that's keeping me busy I'd be running the rabbit of filing liens but I'd rather be out making money than chasing that down right now. What I don't get is I was hounding them about payment one day, that afternoon get an email that ownership changed hands, then it shuts down the next week.
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post #4 of 4 (permalink) Old 04-01-2015, 09:55 PM
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They burned me out of around $700. If I hadn't started working with another great company that's keeping me busy I'd be running the rabbit of filing liens but I'd rather be out making money than chasing that down right now. What I don't get is I was hounding them about payment one day, that afternoon get an email that ownership changed hands, then it shuts down the next week.
You are smarter than most. Looking backward keeps you from going forward. Ever ride a horse? Turn his head and you turn the horse. If you look backward you aren't going forward.

Move on and kill it with the next company.
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