newbie here..taking the plunge :) - REO Property Preservation Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 33 (permalink) Old 02-10-2014, 03:27 AM Thread Starter
Member
 
Join Date: Feb 2014
Posts: 62
Thanks: 79
Thanked 20 Times in 9 Posts
newbie here..taking the plunge :)

Hi,
Here to learn and grow. Have been doing the property preservation for about 2 years under a friend's business. Unfortunately they have become flaky and so I decided to try and take matters into my own hands. I have been reading as much info as I can, and have noticed there is a lot of negativity. I am not pursuing this trade for a get rich scheme. Call us crazy but we actually enjoy this sort of work and feel you can make a decent' living from it. Will be looking to see if I can find a willing mentor..as I stated above we have been doing the labor-but not use to all the red tape and paper work and bids and such. Thanks ~Molly
Molly77 is offline  
The Following User Says Thank You to Molly77 For This Useful Post:
1234 (02-14-2014)
Sponsored Links
Advertisement
 
post #2 of 33 (permalink) Old 02-10-2014, 11:18 AM
Super Moderator
 
GTX63's Avatar
 
Join Date: Apr 2012
Location: Your House Soon...Soon
Posts: 3,186
Thanks: 676
Thanked 2,249 Times in 1,094 Posts
Welcome Molly.
Five years ago it wasn't uncommon for contractors to do a half million in revenue from multiple nationals. Even with chargebacks and unpaid invoices, a company could do very, very well. Each and every year since then, rates have declined as the big boys have scrutinized how to squeeze every last nickle out of the industry. Since they receive contracts based on their own bids, the money they get from banks, the gov, etc is pretty well fixed; however, what they pay out isn't. So in the end, it is a pretty simple formula. But in all honesty, it was only a matter of time before this all happened. The best path to staying profitable for the contractor is to cherry pick the preservation opportunities that benefit them the most, and do enough private work so that you can remain in control of your future.
GTX63 is offline  
The Following User Says Thank You to GTX63 For This Useful Post:
Molly77 (02-10-2014)
post #3 of 33 (permalink) Old 02-10-2014, 04:00 PM
Member
 
Join Date: Feb 2013
Posts: 40
Thanks: 10
Thanked 18 Times in 10 Posts
Hi Molly!

Nice to see another woman on the boards, there aren't many from what I've seen! We were in a similar situation about last year this time....my husband had been doing the work for another company for a couple of years when they decided to pull out of P&P completely and it left us scrambling to figure out what to do next.

Navigating the red tape and paperwork can be tricky business (that I'm still trying to figure out!) but i'd be glad to help you in any way that I can, though I'm far from an expert. The guys here make a lot of valid points and I've found it helpful to read what they say, though it often is very negative.

Bottom line is that you've got to go into this with your eyes wide open, prepared for the worst, and have a strong backbone. Don't be afraid to decline jobs you aren't comfortable with or aren't able to complete for a profit. Don't be afraid to stand up for yourself and your company when you have to (and you WILL have to at some point).

There is money still to be made if you can play the game, although I will say, like many others here, we are looking at diversifying our services to get more into the private side of things this year. I believe that the P&P business is going downhill and want to be prepared!

Good luck!
S&Kpropertyservices is offline  
The Following 3 Users Say Thank You to S&Kpropertyservices For This Useful Post:
GTX63 (02-10-2014), JFMURFY (02-19-2014), Molly77 (02-10-2014)
Sponsored Links
Advertisement
 
post #4 of 33 (permalink) Old 02-10-2014, 10:15 PM
Super Moderator
 
BPWY's Avatar
 
Join Date: Apr 2012
Location: MT
Posts: 4,096
Thanks: 1,470
Thanked 774 Times in 468 Posts
All I can say is good luck. You are going to need it.


If you disregarded the "negativity" as just a bunch of sour grapes and didn't pay attention to the message.......... you are really in for a severe rude awakening.

If you can make the bargain dungeon pricing work for you in 2014 I wish your company the best.

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.
BPWY is offline  
post #5 of 33 (permalink) Old 02-10-2014, 10:49 PM Thread Starter
Member
 
Join Date: Feb 2014
Posts: 62
Thanks: 79
Thanked 20 Times in 9 Posts
We have been doing the work for 2 years, believe me..I do understand the negativity. And I'm sure some of my post will sound negative as well, as there are many things I could complain about. A lot of the negative things are good to report as learning tools. Plus I'm sure it's nice to have a place to vent where people understand. There is good and bad in every business and every aspect of life. So it's just nice to hear the great things too.
Molly77 is offline  
post #6 of 33 (permalink) Old 02-13-2014, 01:26 PM
Junior Member
 
Join Date: Feb 2014
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
I just joined this site because I have been thinking about PP for a while. Been an owner of a couple rental properties and do just about all the maintenance/repairs. Since I already do this for myself, thinking this would be a natural extension and help focus. I have 46"zero turn, and assorted necessary lawn care equipment, a Kubota B7500 tractor with rear plow, york rake, 3 pt 60" mower, front end loader, chain saws, general construction tools. I know how to set up an LLP, but need advise on setting up this type of work. I would start this up solo, but have a tenant who is an excellent roofer and carpenter who would work for me as a sub. I can sell, and can negotiate contracts, and most of all work hard all day. I hate what I am doing right now and want more control over my finances. I am I crazy?
OzLand is offline  
post #7 of 33 (permalink) Old 02-13-2014, 01:38 PM
Super Moderator
 
GTX63's Avatar
 
Join Date: Apr 2012
Location: Your House Soon...Soon
Posts: 3,186
Thanks: 676
Thanked 2,249 Times in 1,094 Posts
Welcome Oz. Yes you are crazy. Enough that you could probably avoid prison for any felony based on your above comments.
GTX63 is offline  
post #8 of 33 (permalink) Old 02-13-2014, 05:56 PM
Junior Member
 
Join Date: Feb 2014
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
I saw a Craiglist posting in NJ forum - from United FS. I got a reply from a "Harry Westen" In CA. (I am located in NJ). Anyone know anything about them? they sent the attached link: http://unitedffs.com/vendor-application.html along with a price list. The file was too big to attach, so I listed it. Note there are 3 prices for each service : REO Pricing/Investor Pricing/REO Pricing for State of: NY)

Preservation Type
Securing
REO Pricing
Investor Pricing
REO Pricing for State of: NY
Digital Lock
$110 (Anaconda Lock)
$120 ( Anaconda Lock)
$110 (Anaconda Lock)
Lock Change
$40
$40
$45
Lockbox Installation
$24.50
$24.50
$30
Padlock
$15
$20
$30
Secure Swimming Pool
BID
BID
BID
Sliding Door Secure / Slider Lock
$10
$20
STANDARDPRICING
Boarding
BID
BID
BID
Debris Removal / Trash Out – Per Cubic Yard
$24.50
$30
$30
Automobile Removal
BID
BID
BID
Dry Winterization
$50
$60
$75
Radiant Winterization
$175
BID
$180
Steam Winterization
$85
BID
$105
Replacing Sump Pump
BID
BID
BID
Winterization Re-check
$10
$15
PREAPPROVED
Wet Winterization
$85
BID
$105
Initial Grass Cut –Under 15,000 Square Feet
Up to $63
Up to $80
Up to $80
Initial Grass Cut- 15,000 – 1 Acre
Up to $105
Up to $125
Up to $105
Initial Grass Cut - 1 Acre +
Up to $175
Up to $190
Up to $175
Re-Cut - Under 15,000 Square Feet
Up to $63
Up to $80
Up to $63
Re-Cut - 15,000 – 1 Acre
Up to $105
Up to $125
Up to $105
Re-Cut - 1 Acre +
Up to $175
Up to $190
Up to $175
Trim Shrubs
BID
BID
BID
Snow Removal
BID
BID
BID
Certified Construction Inspections
BID
BID
BID
Pricing varies depending on client and area. A 25% discount is required for all work orders accepted from United F.S.
1. PREAPPROVED: All the Pre-approved items does not require approval. The vendor has to ensure to get supporting pictures to claim payments on pre-approved items as well.
2. STANDARDPRICED: These are the items which the vendor can expect approval. The Vendors needs to create work item and await approval to proceed.
3. BID: The Vendor needs to provide an estimate for this work and await approval to proceed with the work.
OzLand is offline  
post #9 of 33 (permalink) Old 02-13-2014, 09:04 PM
Member
 
Join Date: Feb 2013
Posts: 40
Thanks: 10
Thanked 18 Times in 10 Posts
Pricing was actually looking pretty good until I got down to the 25% discount....
S&Kpropertyservices is offline  
post #10 of 33 (permalink) Old 02-14-2014, 06:32 PM
1234
 
Join Date: Dec 2012
Location: south carolina
Posts: 14
Thanks: 4
Thanked 0 Times in 0 Posts
hello molly you wont get any positive feedback here.i personally think there is plenty money in the business.there are naysayers here trying to block people out.if there was not any money in the business.way is anybody here.....LETS START A NEW BLOG
1234 is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the REO Property Preservation Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome