[Guest]

Does anyone know anything about reo foreclosure work? Did a little framing and sheetrock today pretty crappy work but its money. Just a little worried about payment I am doing hourly but really do not know about the business.

 

[Guest]

Reo ?

Hey there.
I do REO,Property Preservation work for a living now.Im a long time contractor.If your doing work by the hour,you should get paid quickly.But banks dont pay until 30-60-90 days most times.Depends on if you have a middle man or not.hope that helps.

 

[rselectric1]

We have a very busy section for property preservation here at CT. From the main forum menu, it it listed under specialty trades.

Here's a link
http://www.contractortalk.com/f118/

I'm going to move this thread to that section for better exposure.

 

[Guest]

What is this REO work that you speak of????????

 

[Guest]

D Jones,
Give me a pm and we will be happy to get you drywall work We do all of Dakota, Hennepin, Ramsey, Anoka, Chisago and Wright Counties. We don't pay hourly though. You tell us the price of the job and that is what you get paid. 33/33/34 schedule. We are certified in mold, fire and water and can use some rebuild crews if interested.
OH yeah we do that REO work too....LOL

 

[Guest]

Dreamweaver you are kidding right?

 

[Guest]

Dreamweaver you are kidding right?

I guess that didn't come across with the inflection needed for people to know I was being facetious.

 

[APlusPPGroup]

lol. I knew you were being facetious. Newbies might not, tho, and might try to answer your question.:laughing:

Linda

 

[Guest]

lol. I knew you were being facetious. Newbies might not, tho, and might try to answer your question.:laughing:

Linda

And I would love to hear their answers.....arty:

Maybe that Fremont guy knows a little bit about that biz:blink:

Ya think?

 

[Guest]

Hey there.
I do REO,Property Preservation work for a living now.Im a long time contractor.If your doing work by the hour,you should get paid quickly.But banks dont pay until 30-60-90 days most times.Depends on if you have a middle man or not.hope that helps.

Sorry, I'm a newbie can you explain what and how REO work is.
thanks

 

[Guest]

Real Estate owned.
Bank owned homes are homes that generally will go on the market for sale to the public. Different fee schedules but generally on our end we negotiate our own fees vs a property going to HUD than the HUD fee schedule is used and very little (if any) negotiations will happen.
Plenty of fine reading on the internet about the differences and the risk/reward of doing. As any foreclosure work the risk generally outweighs the reward now.