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Discussion Starter · #1 ·
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.
 
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Discussion Starter · #2 ·
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.
 
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Discussion Starter · #5 ·
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
 

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

Linda
 
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Discussion Starter · #9 ·
a1propertyclean said:
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.....:party:

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

Ya think?
 
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Discussion Starter · #10 ·
willthegypsy said:
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
 
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Discussion Starter · #11 ·
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.
 
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