As Long As The Check Cashes? - REO Property Preservation Forum
 
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post #1 of 4 (permalink) Old 09-15-2015, 07:21 AM Thread Starter
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As Long As The Check Cashes?

This happens, not a lot, but it happens enough.
We bid a jungle of a yard for a broker maybe a month ago.
A bid to remove debris, a bid to cut low hanging trees and overgrowth, a bid to complete an initial mow. All line items, separate bids.
We were contacted by an Ohio based national a week later to bid the same items at the same property. Declined.
Broker calls and asks if we bid again thru someone else. "Nope." "We said thanks but no thanks." He asks if he can refer me. "Sure."
I get a voice mail from an Indian sounding fellow ("My name is Faroog but you may call me Horace") late last week wanting to discuss our bid on the same property. I never returned the call.
Yesterday the same person emails me. Says he would like to use me on this
property but I need to go online, fill out the vendor application, submit a w9, insurance, licenses, etc. I look at his website for a few minutes and I declined.
He offered to start me under as a Vendor with a free one year subscription.
No, thanks.
I explained that while we do work in multiple states, we only work locally, thru a broker or lender or client we can contact personally. No discounts, no 60 day payouts, no memberships, etc.
He counters that his company is "global", covering Asia Pacific and Spain.
No again and ended the conversation. He followed up with an email that he would check and see if the client would still be willing to use our company for this and any future work.
A lot of contractors would see no problem with this scenario. Maybe there isn't one for them. 15 years with nationals taught me some valuable lessons.
If the broker for this property tells me to go ahead with the work, I'll get paid, but there are too many preservation companies from Florida to Istanbul that don't feel the need to print a check out or return a call.
A "global" designation, a website and the ability to broker work on a bank owner property do not automatically make one legit. Cold calls from firms like this give me the same feeling as answering a CL ad.
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post #2 of 4 (permalink) Old 09-15-2015, 10:36 AM
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Thanks for the insight !
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post #3 of 4 (permalink) Old 09-15-2015, 08:33 PM
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Quote:
Originally Posted by GTX63 View Post
This happens, not a lot, but it happens enough.
We bid a jungle of a yard for a broker maybe a month ago.
A bid to remove debris, a bid to cut low hanging trees and overgrowth, a bid to complete an initial mow. All line items, separate bids.
We were contacted by an Ohio based national a week later to bid the same items at the same property. Declined.
Broker calls and asks if we bid again thru someone else. "Nope." "We said thanks but no thanks." He asks if he can refer me. "Sure."
I get a voice mail from an Indian sounding fellow ("My name is Faroog but you may call me Horace") late last week wanting to discuss our bid on the same property. I never returned the call.
Yesterday the same person emails me. Says he would like to use me on this
property but I need to go online, fill out the vendor application, submit a w9, insurance, licenses, etc. I look at his website for a few minutes and I declined.
He offered to start me under as a Vendor with a free one year subscription.
No, thanks.
I explained that while we do work in multiple states, we only work locally, thru a broker or lender or client we can contact personally. No discounts, no 60 day payouts, no memberships, etc.
He counters that his company is "global", covering Asia Pacific and Spain.
No again and ended the conversation. He followed up with an email that he would check and see if the client would still be willing to use our company for this and any future work.
A lot of contractors would see no problem with this scenario. Maybe there isn't one for them. 15 years with nationals taught me some valuable lessons.
If the broker for this property tells me to go ahead with the work, I'll get paid, but there are too many preservation companies from Florida to Istanbul that don't feel the need to print a check out or return a call.
A "global" designation, a website and the ability to broker work on a bank owner property do not automatically make one legit. Cold calls from firms like this give me the same feeling as answering a CL ad.
I just feel bad for all the guys that bull**** worked on before you. I'd say you dodged a bullet, but it sounds like the bullet never came close. lol.
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post #4 of 4 (permalink) Old 09-15-2015, 11:52 PM Thread Starter
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I was out of town with a crew all day and stopped by an auction, so I'm just getting home. The lender themselves sent over the approval to get the work done late this morning.
I may or may not have dodged a bullet; I just know there was no need or benefit for another company to wedge their way into this deal and broker their cut. They add nothing to the equation. I'll send photos according to my guidelines in a zip file attached to an email with my invoice when we are done. Easy peesy.
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