Does anyone actually contract out with First Preston or AMS? - REO Property Preservation Forum
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post #1 of 31 (permalink) Old 02-08-2012, 09:35 PM
72opp
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Does anyone actually contract out with First Preston or AMS?

Because according to HUD, those two companies got MN, WI, SD, ND, WI, IA, NE, and MT.

If memory serves, AMS doesn't have a good rep on this board and I think I remember FP having a less than stellar rep as well.
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post #2 of 31 (permalink) Old 02-08-2012, 11:11 PM
FremontREO
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You won't like them. I have been told there is a wild mountain man that does ok with ams though..
post #3 of 31 (permalink) Old 02-09-2012, 03:43 AM
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Originally Posted by FremontREO
You won't like them. I have been told there is a wild mountain man that does ok with ams though..
He's not crazy. He's just misunderstood.
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post #4 of 31 (permalink) Old 02-09-2012, 09:46 AM
72opp
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Well, I am not happy with pretty much any national but I am finding it difficult to get in with Wells Fargo as they keep telling me that they are required to send work to nationals...
post #5 of 31 (permalink) Old 02-09-2012, 09:50 AM
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Quote:
Originally Posted by 72opp
Well, I am not happy with pretty much any national but I am finding it difficult to get in with Wells Fargo as they keep telling me that they are required to send work to nationals...
I think it depends on the area.
post #6 of 31 (permalink) Old 02-09-2012, 11:38 AM
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AMS is a joke. We had about 300 properties with them. They went into a few pulled the appliances out and found dirt and debris so they cut us down to 100, saying we couldn't handle what we had. First of all, on a flat rate lawn cut that requires all cleaning, maintenance and repairs for $35 a visit, who on earth is going to pull these thing out and clean under them? I think the local AMS manager just wanted to get a friend into the biz but we ended up getting all the properties back about 6 months later and boy were they a mess. Our last check ($7,500) took tons of calling and emails to get. We finally got it 5 months late!
post #7 of 31 (permalink) Old 02-09-2012, 11:52 AM
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Depends entirely on the area. I have done 6 figures with AMS for 2 years straight and they don't give me much flack. I work VERY close with all the brokers and that really helps. You have to watch your audit closely or they will stick you. Our flat rate is one of the highest in the system and it was negotiated directly with one of the big cheeses that came out here in the beginning. I do cover near 10,000 sq miles for them with about 60% of the properties rural. Most guys in this business don't have the equipment i have and cannot stay profitable here. You just can't clean a 600' driveway with a snow blower or shovel. You need REAL equipment. They have TRIED to adjust my rate a few times but when i threaten to shut them off they back off as they don't want the headache of finding someone else.
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post #8 of 31 (permalink) Old 02-09-2012, 11:58 AM
SWOH REO
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They cut out invoice $12,000 one time. They said they were no longer paying for the services after a year and a half of doing so. We quit at that point but the big guy (at the time, not sure who is now) came out to our office, promised to get us paid and wanted us back. Well in the end we never did get paid. I know they have shut down a lot of offices recently but I cut off all ties with them years ago.
post #9 of 31 (permalink) Old 02-09-2012, 12:11 PM
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Just can't find a way to make money with them(ams). No experience with 1st Preston , but heard they used to be good.
post #10 of 31 (permalink) Old 02-09-2012, 12:55 PM
barefootlc
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Worked with AMS some last year....finally dropped them.
Pay was ridiculous and constantly getting sent out to properties to pick up water bottle out of yard for 20.00......yes, really got that work order.
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