REO Property Preservation Forum banner

1 - 13 of 13 Posts
R

·
Guest
Joined
·
0 Posts
Discussion Starter #1
I just recently fell into property preservation. I am a contractor so needless to say I have been burnt before. I am almost 30 days out from the first work order they gave me and supposedly I will be getting my first check Friday. Is this typical? I see a good money making opportunity but don't know about the company.
 

·
Premium Member
Joined
·
3,186 Posts
Richiebro73 said:
I just recently fell into property preservation. I am a contractor so needless to say I have been burnt before. I am almost 30 days out from the first work order they gave me and supposedly I will be getting my first check Friday. Is this typical? I see a good money making opportunity but don't know about the company.
No, 30 days isn't typical. 45-60 days is the average and sometime 90 or more. I have seen contractors sucked into Preservation but I've never seen one fall in, lol. Be prepared to carry a lot of capital to finance your client and their work orders.
 
R

·
Guest
Joined
·
0 Posts
Discussion Starter #4
AffordablePS said:
How is there Pricing Matrix compared to others?
Seems about fair, I haven't seen any pricing from other companies so I'm not sure. It just something that can generate a cash-flow right along with what I already do.
 
R

·
Guest
Joined
·
0 Posts
Discussion Starter #5
GTX63 said:
No, 30 days isn't typical. 45-60 days is the average and sometime 90 or more. I have seen contractors sucked into Preservation but I've never seen one fall in, lol. Be prepared to carry a lot of capital to finance your client and their work orders.
In one month I have put out @$300 in labor. ( now gas is a different story lol) and about $200 in overhead. They are into me for considerably more. The profit margin is there! As long as I maintain my current line of work I should be fine.
 
D

·
Guest
Joined
·
0 Posts
Discussion Starter #7
Richiebro73 said:
In one month I have put out @$300 in labor. ( now gas is a different story lol) and about $200 in overhead. They are into me for considerably more. The profit margin is there! As long as I maintain my current line of work I should be fine.
Do just that (maintaining your current line of work), because the property preservation industry has ruined a many of good people. Can money be made? Well that depends on alot of things that are beyond the contractors control. Can money be lost? By the bucket loads....

Net 30 is considered good in this industry.

Net NEVER happens quite often though.

Always remember, the less you put in your pocket, the more they do.

Good luck and research every company that you think of doing business with.
 

·
Registered
Joined
·
1 Posts
how did this work for you

I just recently fell into property preservation. I am a contractor so needless to say I have been burnt before. I am almost 30 days out from the first work order they gave me and supposedly I will be getting my first check Friday. Is this typical? I see a good money making opportunity but don't know about the company.
hello, you posted this a while back about birdsey property from GA. they are now in our state wondering how they are to work with?
did they pay like they said in 30 days? their contracts are a bit strange.
please let me know your experience with them
 

·
Registered
Joined
·
8 Posts
Birdsey

These clowns took over the Wells Fargo and other contracts in my area a year ago or so and it was problems from the start. I know this is going to be a huge surprise but they are now unable to pay their vendors. Anyone considering signing up with Birdsey should move on, anyone still completing their work should stop and get ready to file liens.
 

·
Registered
Joined
·
2 Posts
These clowns took over the Wells Fargo and other contracts in my area a year ago or so and it was problems from the start. I know this is going to be a huge surprise but they are now unable to pay their vendors. Anyone considering signing up with Birdsey should move on, anyone still completing their work should stop and get ready to file liens.

They owe me over 20,000 and still dont get a call back. I stopped working because no one will answer the calls. They blame it on other but I think the owner is just pocketing money.
 

·
Business Consultant
Joined
·
1,388 Posts
20k???
Have you filed any liens? Attempted any form of collection procedures?
 

·
Registered
Joined
·
2 Posts
Haven't filed any yet, may need some guidance on how to do so. But this was my final week and I am feed up about it. I didn't have all me eggs in one basket but I am pretty pissed about how they don't contact you but are still sending out orders.
 

·
Business Consultant
Joined
·
1,388 Posts
Always welcome to contact me...are you familiar with lien laws in your jurisdiction or cillectiin procedures??
 
1 - 13 of 13 Posts
Top