Hey veterans, what's the skinny? - REO Property Preservation Forum
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post #1 of 24 (permalink) Old 07-04-2012, 10:22 AM Thread Starter
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Hey veterans, what's the skinny?

I've been out of the preservation field for a few months now and have been greatly enjoying it.

I'm assuming that the chit must have really started to hit the fan lately? I've been cold called by 6 different nats within the last week asking for to come back on as a vendor. Not gonna happen, enjoying my freedom too much.
This leads me to believe a couple different things: 1. It must be contract shake up time (so the new awardee's are trying to "build up" their contractor reservoir "just in case"). 2. It's time to cleanse the inventory. 3. The 2nd wave of ARM's are hitting the market.


Here's to a prosperous year, and hope you are all keeping busy. Happy Independence Day!
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post #2 of 24 (permalink) Old 07-04-2012, 10:49 AM
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Pip,

I thought it was an Iowa thing since I've had abt the same # of calls this week.
post #3 of 24 (permalink) Old 07-04-2012, 12:09 PM
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Not just Iowa. Brokers we service are complaining that the nationals cannot get the trashouts or mowing done. The lenders are coming down on them to get properties listed and they still have garbage inside, trees on the roof, etc. The Nats don't have any contractors or they are sending ones they do have accross state lines. We are getting the emails and the calls as well. Thanks but no thanks.
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post #4 of 24 (permalink) Old 07-04-2012, 01:51 PM
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looks like all the money gets eatin up in ''administrative'' cost:whistling
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post #5 of 24 (permalink) Old 07-05-2012, 07:33 AM
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Quote:
Originally Posted by GTX63
Brokers we service are complaining that the nationals cannot get the trashouts or mowing done. The lenders are coming down on them to get properties listed and they still have garbage inside, trees on the roof, etc. The Nats don't have any contractors or they are sending ones they do have accross state lines.
Same thing here. I'm getting the calls and emails practically begging us to accept work from them.

I'm glad to see the lenders are finally taking notice that the work is not being completed properly, if at all. Maybe they'll get rid of the nationals and start going through brokers again....... or give the contracts to more reliable companies that actually pay their vendors.

If the vendors are happy, the work gets done. And, when the work gets done, the lenders are happy. And the wheels on the bus go round and round.......

It's about time for the cycle to begin again, right? It would really be nice to see this industry come back up to the standards they were even 5 years ago.

Safeguard, Cyprexx, AMS, AIM, MCS, FAS, etc. have become so greedy they are driving vendors away and it sounds like this practice of theirs is finally biting them in the ass.

Linda



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post #6 of 24 (permalink) Old 07-05-2012, 07:44 AM
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Quote:
Originally Posted by a1propertyclean
Same thing here. I'm getting the calls and emails practically begging us to accept work from them.

I'm glad to see the lenders are finally taking notice that the work is not being completed properly, if at all. Maybe they'll get rid of the nationals and start going through brokers again....... or give the contracts to more reliable companies that actually pay their vendors.

If the vendors are happy, the work gets done. And, when the work gets done, the lenders are happy. And the wheels on the bus go round and round.......

It's about time for the cycle to begin again, right? It would really be nice to see this industry come back up to the standards they were even 5 years ago.

Safeguard, Cyprexx, AMS, AIM, MCS, FAS, etc. have become so greedy they are driving vendors away and it sounds like this practice of theirs is finally biting them in the ass.

Linda
agree , myself I still work for some of these companies ,but I do pick and choose the work. Like on recut ,if I`m not going to make any money after paying everything why bother!


I`m so sick of this flat rate crap, a boat load of work for a very small fee. they all need to pay hud rates - 20% discount
post #7 of 24 (permalink) Old 07-05-2012, 07:48 AM
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I'm sorry to the newbs, but they are putting the knife to their own throat signing up with those jokers. For the cost of GL and a weekly add in the local papers, they could probably make as much money just hauling junk and cleaning out basements as they could paying for a background check, field service and E&O insurance, discounts and cut rates with the nationals, and then hoping their pics are good enough to get a check. A few years ago, sure. Not anymore.
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post #8 of 24 (permalink) Old 07-05-2012, 08:00 AM
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fng is one of the biggest problems, there getting into bussiness not nowing what there in for(not adding all costs)
post #9 of 24 (permalink) Old 07-06-2012, 04:03 AM
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I had MAAG contact me yesterday for grass cuts.


LOL, I am not signing their 20 page contract just for doing grass cuts.

While GLANCING at their contract and email I suddenly realized how simple my
business life has become with out bank work. I really do not think I want to go back to it!
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post #10 of 24 (permalink) Old 07-06-2012, 08:59 AM
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I just found out SG put a new contractor in my APR (area of primary responsibility). Apparently they sent him to a property and then a week later sent me to check on his work. If that property is any indication, he won't last. The entire kitchen was missing from the house. Not just the appliances, but the ENTIRE kitchen. He didn't list that as a damage on his update. tsk tsk tsk.
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