Where is the REO & PP work going? - REO Property Preservation Forum
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post #1 of 3 (permalink) Old 12-23-2013, 11:20 AM Thread Starter
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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.
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post #2 of 3 (permalink) Old 12-24-2013, 08:59 AM
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as long as you are willing to work for peanuts that is what you will keep getting.
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post #3 of 3 (permalink) Old 01-14-2014, 06:55 AM
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Too many people in this industry will work for peanuts thinking it will get better,and fall for the bs of companies wanting you to cover 10 counties or a 60 mile radius when they know pay does'nt cover expenses,people need to say no no no we wont go or pricing will keep dropping.it amazes me the price drops ive seen just in last 3 years and each one gets a little more ridiculous ive seen wints go from 150 to 100,90 then 75 now seeing 55 45 just plain crazy,trust me time you figure insurance time employees gas taxes you are not making money at all,yet people keep doing it.times are tough and finding a job is harder and these companies thrive off it knowing a lot are desperate and fall for anything.
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