Join Date: Dec 2013
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Where is the REO & PP work going?
Hello everyone, I just was curious to see if someone out there is aware of where all the work is going. We have been in the Real Estate and Preservation field for the last 7 years and have had ups and downs. It appears that the downs are becoming more consistent. I see the larger preservation companies are out everyday with plenty of work, but the smaller mom and pop shops are the ones struggling. The one company out there, (the giant) and you should know who that is without me telling you. (buying BOA preservation.) They feel it is easy to replace hard working vendors with new people all the time. They have a line of eager new vendors waiting for a chance to prove themselves. They use your goodness until you can't do it anymore and then they cut your income constantly whether it is capping of water, gas lines they say needed to be bid 1st, or CYDs of debris that work is done and billed but they can't justify the amounts from photos. Very tired of all the bull! Fannie Mae needs a new approach to these mega giants, because money is there to be made but by the time it gets to us it is peanuts. Plenty of Vendors out there that are committed to doing the job right, but are not given the chance. I wonder how many kickbacks are being given to those assigning the the orders, how many indecent proposals are being done. Be aware of who you work for and make sure that you are getting paid the right way for your services. Best of luck to all the hard working preservation folks out there much respect goes out to you.