First Work Order from Phone Conversation Today - REO Property Preservation Forum
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post #1 of 14 (permalink) Old 08-29-2012, 04:53 PM
We Fix Houses
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First Work Order from Phone Conversation Today

Greetings to all in the PP forum.

Got a call today from a PP co. they need someone in my area. The house is about 10 mi away. I'm familiar with the reports and photos needed. I do a lot of specs and photos for my regular customers. I'm overly professional. I've been in business a good while. I'm licensed and insured and know how deep paperwork can get as well as charge backs. I've made money / lost money along the way.

After the initial call, I said I'd take a look at what they had, email / paperwork wise and then go from there. They're requesting an assessment of the property and 150 - 200 photos, etc. I read the sticky's here.

I asked them how they compensate a person like me for this assessment ? They said it would be in the email, its not. No schedule of charges / payments for services. I figured they have one...unfortunately...?

What do these folks pay ? I see it taking about 7 hrs, maybe 5 hrs later on. I may have heard them say after my inquiry, "you have to tell us" how much ??

My question is how to respond to find out if its worth my time....?

Biz is slow. Its something to consider.
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post #2 of 14 (permalink) Old 08-29-2012, 05:17 PM
wmhlc
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What company was it? Most of them don't pay a nickel for bids some pay 30 to 100 bucks for property condition reports. I'm guessing its a bid so they don't pay for them, some will pay for a licensed structual report but it not much less than 250
post #3 of 14 (permalink) Old 08-29-2012, 05:22 PM
We Fix Houses
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Its not a bid for repair work but an assessment of the property, pics, what needs to be repaired, etc.

Its http://eastcoastpropertyservices.us/...servation.html
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post #4 of 14 (permalink) Old 08-29-2012, 05:25 PM
wmhlc
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Sounds like a pcr I bet the pay is less than 50
post #5 of 14 (permalink) Old 08-29-2012, 06:04 PM
PropPresPro
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Quote:
Originally Posted by wmhlc
Sounds like a pcr I bet the pay is less than 50
Probably WAY less than $50.
PCR's (Property Condition Reports) are one of the evils of this industry. They are packed full of liability! If you miss something that pops up at a later date, or another contractor finds & reports after you, you are 100% liable & will be required to RTP to repair at your own expense.
Normally I will decline a PCR unless that particular company is sending me massive amounts of OTHER work as well, and I have a good working knowledge of that company.
post #6 of 14 (permalink) Old 08-29-2012, 09:46 PM
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Quote:
Originally Posted by PropPresPro
Probably WAY less than $50.
PCR's (Property Condition Reports) are one of the evils of this industry. They are packed full of liability! If you miss something that pops up at a later date, or another contractor finds & reports after you, you are 100% liable & will be required to RTP to repair at your own expense.
Normally I will decline a PCR unless that particular company is sending me massive amounts of OTHER work as well, and I have a good working knowledge of that company.
A big Amen to that!
post #7 of 14 (permalink) Old 08-29-2012, 11:04 PM
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IF/WHEN you do a PCR make sure to take A TON of photos and clearly mention that these are the conditions you saw at the property on xx/xx/***x date!!!!!!!!!!!!!!!!!!!!!!!

This will CYA in a small way.
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post #8 of 14 (permalink) Old 08-30-2012, 01:09 AM
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Thanks for the replies.

I'll speak with them in the morning ?

Next question....why would I want to do one (at that rate) ?
post #9 of 14 (permalink) Old 08-30-2012, 02:15 AM
foothillsco
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I think what your talking about and what your client is talking about are two different things.

To me, the client wants a quick assessment of the property. Photos of debris, broken or damaged things. This should take you about 20 minutes. Your pricing is ballpark for estimates. For example, the roof is damaged, you guess-mate it's 20 sqs and mentally figure that's 13k.

Your doing this because you want the estimate to get approved.
post #10 of 14 (permalink) Old 08-30-2012, 09:03 AM
FremontREO
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To me there is never a "quick" assessment of a property. 1 hr minimum at property completing an inspection and figure the 15 min drive to and 15 min drive back then figure a minimum of 20 min uploading pics/invoice. 2 hr total @ $50/hr labor totals $100 gross.

Then figure your business overhead and profit and your risk tolerance &your good to go.
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