I figured it might be good to get a list going of companies to get work (AND AVOID) from and what everyone thinks of them.
This would be a good reference for everyone in the future when they are looking for a general opinion on someone, or a list of companies if say they wanted to draw more work from someone new.
List as many or few as you please.
I figure some good thing to touch on might be pay (rate and frequency), work flow (steady, too much, too little etc) how easy they are to deal with and what ever else you think is important.
Even if you don't want to give specifics, perhaps ideas on how to flush more work from brokers, etc.
AMS - Have had problems getting paid. Normal pay period is 30 day cycles. Seems to be no shortage of work, but rates are low and they will deny alot of reasonable or even under bid items. Everything is always a rush has to be done in 2 days, but the reps will change the due dates if you just ask. You have to be sure that you carefully look over the invoice every month to make sure everything is in there, and that they haven't changed any prices via audits.
Usually the best companies aren't looking for new contractors. You need to to decide what fits your business. Some guys make a killing with "clean outs", other repair work and then grass cuts. You have to figure what price points that can work for your company to make a profit.
Then you can decide to do p & p, reo, repair, grass only. Then you have option of nationals( many require full state coverage or several counties) and specific insurance requirements regionals less pay usually only liability insurance and more paperwork and guidelines.
Also you'll get mixed opinions because after all that work volume depends on the area your in and how much competition.
if I give you the answer to this question will it even matter or will you just be one of the guys posting a so and so ripped me off thread in 3 months?
No. I just want to heard good and bad. I've been ripped off, and I've made out well. I think just about everyone else in this business has to some degree or another.
Really I'm looking for who may be good to look into, who may be better to be careful about or avoid all together.
Also doesn't hurt to know what you guy look for when looking into a new company and the like.
For us they are basically hedge funds. So it's not exactly the same as Mondo Man but it is damn close! It's not working out and we are trying company number 3.
We had good luck with one for the past 2 years but this year they received a huge cash infusion and bought more properties then cut their prices. I think our average order with them is about $50.00. I won't even go to one of their properties because they are a total waste of time. They keep my guys busy and the work is easy to submit so we haven't pulled the plug yet.
A general rule on flips is you make all your money at the time you close on the purchase. It is going to sell for X so everything you put into it after that comes from your bottom line. Investors can be some real bean counters.
I got to tell one yesterday that basement wall is caving in and they have structural damage. It will need piers and raised back up. then all the concrete and walls will have to be repaired.
The guy got so pissed off I hung up on him.
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