Safeguard taking over AMS work here..... - REO Property Preservation Forum
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post #1 of 42 (permalink) Old 07-29-2012, 09:15 PM Thread Starter
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Safeguard taking over AMS work here.....

Since the Hitler moderator banned me for 3 months over yonder for calling him out about enforcing NOT discussing pricing because it's an "UNWRITTEN" rule i cannot post in the AMS thread there. Here is my take on it. I CANNOT make any money with Safeguard on Fannie properties. Most of my properties are rural and 75% are cash for keys with NO DEBRIS.

#1. I pay out on average $150 for cleaning to my cleaning people and Safeguard pays 120 after discount. LOSS!!

#2. $64 Net for an acre up to 12"????? ROTFLMAO!! LOSS!!

#3. $144 Net for an acre up to 36"????? Friggen NUTS!!!!

#4 $28 Net for up to a 75' driveway up to 12" deep snow??? Doesn't pay to leave my driveway!

I much prefer a flat rate. At least i'm not going backwards! I would need 12 Cu Yds of debris MINIMUM in EVERY house with Safeguard to compare to the flat rate i had negotiated with AMS. Granted i was higher than what you guys in Michigan are being quoted but we are in a MUCH harder to cover state. There is also MUCH MORE COMPUTER TIME! Figure 30-45 minutes MINIMUM for every Safeguard initial upload and at least 10 minutes for a routine. AMS takes 5-10 minutes tops for an initial and less than 5 for a routine. Next the expense of E&O which AMS does not require, $3,0000 per year for me. Finally the zones are all screwed up. The Safeguard zone i am in is over 100 miles top to bottom and 80 miles across. I could potentially drive 100 miles round trip for 1 routine!! All around i don't know how anyone makes any money on Safeguard REO's............


If you Michigan guys are getting what i have heard:
$325 for 35cuyd or less
$95 for janitorial
$80 up to one acre cut. (BTW, if the grass is tall, AMS WILL negotiate)

You will need more than 9 cu yds in every home to be better with Safeguard.
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post #2 of 42 (permalink) Old 07-30-2012, 04:16 AM
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Wow for those prices I would go back to being a stay home dad.
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post #3 of 42 (permalink) Old 07-30-2012, 06:00 AM
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Safeguard is very proud of their prices.
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post #4 of 42 (permalink) Old 07-30-2012, 08:33 AM
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Quote:
Originally Posted by mtmtnman View Post
Since the Hitler moderator banned me for 3 months over yonder for calling him out about enforcing NOT discussing pricing because it's an "UNWRITTEN" rule i cannot post in the AMS thread there.
So they threw you in the hole huh? Cool Hand Luke. My money says you can down the 50 hard boiled eggs in an hour.
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post #5 of 42 (permalink) Old 07-30-2012, 10:28 PM
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I've done one or 10 Fannie's for SG.


12 yrds ONLY of debris, whats that???????????????????????


25 to 40 in every one is common. Make a few bux there, but then the initial clean is a killer.
Because none of the houses were even remotely live in condition.
I've had ones that after 16 man hrs of cleaning might have been clean enough for merry maids to come in and spend 2 or 3 days getting it move in clean.


Winter/spring of 2011 I had enough Fannie work from SG that it allowed me to cash money around $12,000 in lawn equipment.
Some new, some used.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
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post #6 of 42 (permalink) Old 07-31-2012, 02:14 AM
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On the REO side with SG it's about using the allowables. AMS said they have $100 to approve on the spot, everything else needs bid. SG typically has a lot of pre-approved items so you don't have to go back to the property a half dozen times.
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post #7 of 42 (permalink) Old 07-31-2012, 08:10 AM Thread Starter
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Quote:
Originally Posted by SwiftRes View Post
On the REO side with SG it's about using the allowables. AMS said they have $100 to approve on the spot, everything else needs bid. SG typically has a lot of pre-approved items so you don't have to go back to the property a half dozen times.

AMS has $500 in allowables. I would say 75-80% of the Fannie work i had was houses less than 10 years old in very good condition. Had 5 in July and only 1 had more than a bag of garbage. It had 5 cu. yds...............
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post #8 of 42 (permalink) Old 07-31-2012, 08:28 AM
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Hmm. They told me $100 total and then anything over that need bid. I almost never see low CYD houses. 20-40 is very common.
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post #9 of 42 (permalink) Old 07-31-2012, 11:05 PM Thread Starter
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Hmm. They told me $100 total and then anything over that need bid. I almost never see low CYD houses. 20-40 is very common.

Most here that are not cash for keys are conveyance condition when i get them.

On a side note, Safeguard is taking a 25% discount on REO so my grass pricing above is wrong. They also have have hired one contractor (AKA a regional) to cover all the grass re-cuts in one of the hardest to cover states in the country. The regional will then take another 20-25% leaving peanuts left. ($39- $42 for an acre???????????) QC is going to have a hayday with Safeguard and the brokers will not put up with it. Personally i give them less than 3 months to fall apart here. Hell is Sentinel is having a hard time getting people to cut 1/4 acre for $25 how in the hell is Safeguard going to get someone to cut an acre for $14 more???

Brokers also want to be kept in the loop and Safeguard is NOTORIOUS for doing there thing and not telling anyone. For example, All boilers here ARE NOT TO BE WINTERIZED per the brokers, Heat is to be left on. Nice blinds and curtain rods are to stay. Paint that is in good condition is to stay for touch ups if the home has recently been painted, Building materials are to be left if they match what is in the house IE: trim and ceramic tile. All of this makes repairs easier. I have had more than one nice house that took me 2-3 trips to Sherwin Williams to match paint because another contractor has tossed out leftover matching paint. FNMA has told the brokers they have the final say and i work VERY close with the brokers to get these homes sold.
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post #10 of 42 (permalink) Old 08-01-2012, 05:45 PM
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We do a decent volume with AMS and a few other nationals. These prices you guys are quoting are insane.

My worst paying client is paying $45.00 for a routine cut and $125.00 for initials. I think some people out there need to learn to say no.
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