REO Property Preservation Forum banner

1 - 20 of 43 Posts
P

·
Guest
Joined
·
0 Posts
Discussion Starter #1
At the beginning of the summer I started a landscaping company as a way to make money during the summer. Through effective advertising and word of mouth the business took off and generated a very steady/healthy cash flow. I'm currently in my second year of college and know that I want to enter the real estate investing field upon graduation. An opportunity arose from landscaping that allowed me to perform a few trash-outs on Fannie Mae & Freddie Mac properties. Everything went great: exceeded company's expectations, received payment on time, and was able to learn an incredible amount in a short period of time. Unfortunately, the company that I performed them for does not operate in my particular area, which leads to the purpose of the thread...

I would like to expand into the PP field in my area. Several opportunities have arisen that would allow me to handle a steady amount of work orders in a 50 mile radius (Anderson, Greenville, Pendleton, and several other counties in the South Carolina area. Who would be the best companies to contact for my particular area? I recently applied for a DUNS number in order to complete my vendor application for the HUD in my area.



I don't know the most effective way to market myself in this area. I also do not know WHO I should be marketing myself to. I am not desperate for money or business. I have enjoyed working and operating my own small business this summer and have enjoyed the benefits, mainly extra money and flexibility, that it provides.




Thank you in advance for your help. Feel free to ask me any questions. From what I've seen there are some very nice, knowledgeable, and intelligent people on this forum which leads me to want to get to know many of you along with what you know! :)
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #2
I'd also like to add that I would be interesting in doing cuts on REO's. If someone could direct me to the best companies in my area I would be incredibly thankful!
 
F

·
Guest
Joined
·
0 Posts
Discussion Starter #3
You want advise?

quit college and make your fortune. Jmo

Sorry but you need to read more forum threads.
 

·
Registered
Joined
·
2,016 Posts
FremontREO said:
You want advise?

quit college and make your fortune. Jmo

Sorry but you need to read more forum threads.
Or stay in college and find a great paying job. Run your business on the side trying to meet your clients stringent time frames as well as your college deadlines is good training for real life. I'm grateful for the stressful situations I had to manage while in college. Classes, football, my concrete and landscaping business and doing underwriting. Left me no time to f--k around(but made time to do so) But some of the best years and lessons in life I learned in college. People I've networked with etc.

Best of luck to you!
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #5
FremontREO said:
You want advise?

quit college and make your fortune. Jmo

Sorry but you need to read more forum threads.
Sorry, but I found your advice* to be more like a troll. Out of boredom I will respond to your underwhelming troll.


First point - Yes, I do want advice*. Obviously I am not going to be the most skilled and knowledgeable PP service provider after several trashouts. You don't know me and I don't know you, but your post that mixes a little sarcasm and a little irony doesn't leave me thinking you're the person to come to for advice.

Second point - That would be an extremely idiotic move to make. I know you were making a stab at irony, but still. A good friend of mine's father was in the REO business and had giant contracts in the entire states of GA/CA that made him mega-millions. The real estate bubble popped and he got out. From what I've seen he's one of the few people that made it rich off of some aspect of REO properties. If you had had the success he has achieved you would not be on a forum board wasting your time making inconsequential posts. Yeah, I think I might have made this personal.

Third point - I actually am reading more forum threads, but your great advice* does not deserve the credit. I want to learn. I realize reading forum posts is not going to get me near the amount of knowledge and expertise that I desire, but it's a start. I also had a crazy idea that creating a thread specific to my topic of research at the moment might help me get answers from helpful people. So far that has failed, much like your advice*.



I don't thank you for your worthless advice*, but I do thank you for the couple of minutes of entertainment that I have enjoyed from this response post.
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #6
thanohano44 said:
Or stay in college and find a great paying job. Run your business on the side trying to meet your clients stringent time frames as well as your college deadlines is good training for real life. I'm grateful for the stressful situations I had to manage while in college. Classes, football, my concrete and landscaping business and doing underwriting. Left me no time to f--k around(but made time to do so) But some of the best years and lessons in life I learned in college. People I've networked with etc.

Best of luck to you!
Thank you! I was starting to lose hope in this forum.

Managing a 4.0 and business on the side doesn't leave me as much time for Xbox as some of my friends :p I enjoy the work that I do. The money is just an externality of the knowledge and contacts that I gain. I honestly would never want to do something like PP as a career/main source of income. The money isn't that great if you're older and trying to support a family and there are plenty of headaches caused by the unprofessional and (possibly) uneducated businesses and vendors in the field.


I just wanted some advice and all I got was a smart-aleck troll.
 

·
Registered
Joined
·
2,016 Posts
Paradox said:
Thank you! I was starting to lose hope in this forum.

Managing a 4.0 and business on the side doesn't leave me as much time for Xbox as some of my friends :p I enjoy the work that I do. The money is just an externality of the knowledge and contacts that I gain. I honestly would never want to do something like PP as a career/main source of income. The money isn't that great if you're older and trying to support a family and there are plenty of headaches caused by the unprofessional and (possibly) uneducated businesses and vendors in the field.

I just wanted some advice and all I got was a smart-aleck troll.
Fremont gives some of the best advice. I really think he was being brutally honest with you. He knows this business very well. You determine what it is that you're going to do or don't do.

You seem to know what direction you want to head in. Go for it. Your perception is your reality. What works for me, may not work for you in SC and vice versa. I worked for Citigroup for 10 years and would go to FT Mill SC a lot. Beautiful place!!

The best way that I have found to be successful in this business is by networking, researching, and learning on the fly. Common sense goes out the window in this field. You will have to over think things and do like the Rastafarians and Overstand instead of understand. You always have to think and plan in what if scenarios.

My advice is to work directly with real estate brokers. Try safeguard, field assets, 5 brothers to start. Be sure to read your work orders carefully. Ask questions.
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #8
thanohano44 said:
Fremont gives some of the best advice. I really think he was being brutally honest with you. He knows this business very well. You determine what it is that you're going to do or don't do.

You seem to know what direction you want to head in. Go for it. Your perception is your reality. What works for me, may not work for you in SC and vice versa. I worked for Citigroup for 10 years and would go to FT Mill SC a lot. Beautiful place!!

The best way that I have found to be successful in this business is by networking, researching, and learning on the fly. Common sense goes out the window in this field. You will have to over think things and do like the Rastafarians and Overstand instead of understand. You always have to think and plan in what if scenarios.

My advice is to work directly with real estate brokers. Try safeguard, field assets, 5 brothers to start. Be sure to read your work orders carefully. Ask questions.
I know Fremont probably meant right by his post but I believe he went about it in an unprofessional way. I can see how he might see me as an eager college kid wanting to make some easy money, but that is not the case with me. Nobody enjoys being labeled. Ever gotten the hint that someone thought you were a crappy businessman or dishonest person just because you are a contractor?

Thank you for the advice and I wish you the best!
 
F

·
Guest
Joined
·
0 Posts
Discussion Starter #9
Paradox,

Sorry you just failed the test.

I admire your grit but not your tact.

I have hired and trained many many young men/women in this business (in your backyard nonetheless) that have matured and was/is very successful in this career.

I will tell you that I had a apprenticeship program that I ran through Clemson and through USC (thats U of S Carolina for you Californians :) ) in the late 90's and through 2004 and met many ambitious young men/women and you will need to learn to have a "backbone" since this business is not for the timid or persons that are quick to pi** off since you will be like "meat to the lions".

This business is quickly transitioning to "only the big boy's" surviving. The small fry are being sued or chargedback out of existence.

Are you prepared to be sued or get a $100k chargeback for something you may not have done? Its reality and it is happening. Most of the college aged crews would not risk "losing it all" for a contracting field that offers so little reward anymore.

If you like living on the edge than welcome to the world of P&P!

oh yeah....maybe I am only a troll! :) I have a pointed hat too! :laughing:
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #10
FremontREO said:
Paradox,

Sorry you just failed the test.

I admire your grit but not your tact.

I have hired and trained many many young men/women in this business (in your backyard nonetheless) that have matured and was/is very successful in this career.

I will tell you that I had a apprenticeship program that I ran through Clemson and through USC (thats U of S Carolina for you Californians :) ) in the late 90's and through 2004 and met many ambitious young men/women and you will need to learn to have a "backbone" since this business is not for the timid or persons that are quick to pi** off since you will be like "meat to the lions".

This business is quickly transitioning to "only the big boy's" surviving. The small fry are being sued or chargedback out of existence.

Are you prepared to be sued or get a $100k chargeback for something you may not have done? Its reality and it is happening. Most of the college aged crews would not risk "losing it all" for a contracting field that offers so little reward anymore.

If you like living on the edge than welcome to the world of P&P!

oh yeah....maybe I am only a troll! :) I have a pointed hat too! :laughing:
I see your point but do not agree with your argument. This is a forum board with many anonymous users/posting. I do not owe it to an anonymous user to display "tact" when their post obviously lacked it. I could have bit the bullet and responded professionally, but again, this is just a forum. I know I could potentially network on this forum but that is honestly not my reason for posting at this time.

I understand that this business is cutthroat, but let's not pretend like this business is in the same category as a daycare or doctor's office. This is a business funded by institutions who are more worried about their bottom line than the quality of work provided. I expect people to try to screw me faster than any prostitute ever could. I'm ready for chargebacks. But I digress further...




Thank you for allowing me to unknowingly take this "test" of yours. I'm not used to failing tests so I appreciate the learning experience. I find it interesting that you ran an "apprenticeship program" through Clemson, seeing as they primarily focus on their engineering program and placing engineers in internship programs. Clemson doesn't exactly have a stellar business school and I've never heard of any "apprenticeship" program originating from there. I'm not accusing you of lying, but I'd appreciate it if you could link me to an article or piece of information that goes into greater detail about this program.



And let me reiterate the point that you do not know me, so making assumptions about a person's qualities and abilities through the analyzing of a measly few paragraphs shows a lack of intelligence. If you did know me, you might find me to be a quite pleasant, or dare I say timid, person. You don't know me, you don't need to know me, and you don't want to know me; therefore I will not waste my time defending myself. Again, I thank you for the entertainment on a slow Sunday night.
 
V

·
Guest
Joined
·
0 Posts
Discussion Starter #11
So you are timid in person and an a$$ online? You will do great, as most work in your field of choice is done online where you don't have to talk to people. :rolleyes:

If you can't take that small bit of sarcasm, you will be done before you start. He is making a living and a career of it, not making extra money. It might be smart to back up a bit, read some as he suggested and learn. Then come back and ask about specific questions.

Also, you might not know this yet, being new in your career, but it is very hard to work when you have a huge chip on your shoulder and a stick up your... On the other hand, I am sure you are used to it by now.
 

·
Premium Member
Joined
·
3,186 Posts
Ouch. :no: Think this thread is rough, browse over to the roofing or plumbing or electrical forums. Contractors just don't suffer thin skinned newbies.
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #13
VinylHanger said:
So you are timid in person and an a$$ online? You will do great, as most work in your field of choice is done online where you don't have to talk to people. :rolleyes:

If you can't take that small bit of sarcasm, you will be done before you start. He is making a living and a career of it, not making extra money. It might be smart to back up a bit, read some as he suggested and learn. Then come back and ask about specific questions.

Also, you might not know this yet, being new in your career, but it is very hard to work when you have a huge chip on your shoulder and a stick up your... On the other hand, I am sure you are used to it by now.
I'm a timid person in general. I was looking for a legitimate answer to my question. I could have just disregarded his post but boredom and a newfound state of annoyance compelled me to respond. When I'm dealing with people "online" for business, school, etc. I definitely conduct myself professionally no matter the situation or what's been said. Maybe too much anonymity corrupts :whistling
 

·
Premium Member
Joined
·
4,096 Posts
Paradox said:
I see your point but do not agree with your argument. This is a forum board with many anonymous users/posting. I do not owe it to an anonymous user to display "tact" when their post obviously lacked it. I could have bit the bullet and responded professionally, but again, this is just a forum. I know I could potentially network on this forum but that is honestly not my reason for posting at this time.
Paradox said:
I'm a timid person in general. I was looking for a legitimate answer to my question. I could have just disregarded his post but boredom and a newfound state of annoyance compelled me to respond. When I'm dealing with people "online" for business, school, etc. I definitely conduct myself professionally no matter the situation or what's been said. Maybe too much anonymity corrupts :whistling



Fremont a troll?????????????? Hardly.
Hes probably the most experienced person we've got on the subject of P&P.




As for the other comments..... one day you'll learn that the better part of valor is to act a man even when you think your opponent doesn't.

You've clearly reduced yourself to at least the same level you think Fremont is.
Like has already been said. Thin skinned and a chip on the shoulder is not going to get you very far.

Good luck in P&P. You are gonna need it.
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #15
BPWY said:
Fremont a troll?????????????? Hardly.
Hes probably the most experienced person we've got on the subject of P&P.




As for the other comments..... one day you'll learn that the better part of valor is to act a man even when you think your opponent doesn't.

You've clearly reduced yourself to at least the same level you think Fremont is.
Like has already been said. Thin skinned and a chip on the shoulder is not going to get you very far.

Good luck in P&P. You are gonna need it.
I think several on here skipped over the Logic elective courses in college. Oh well.

Thank you for the little bit of motivation. I'm about to head out to my newest trashout.. Looks like the company may be expanding into this area. Good luck to you too :)
 
M

·
Guest
Joined
·
0 Posts
Discussion Starter #16
Good stuff

I asked for some advice and help last friday and all i received was crap.Maybe you guys do have all the great advice and wisdom but have a awful tact in displaying it.Maybe this is a dying business but i have been doing it for 3 months grossed over about $20,000.00 and total costs where about $6500.00 I can live with that.

I know that every job you can't make money on but you just limit the ones you don't make money on.I would never tell anybody don't do it,its too much or whatever.

Treat people the way you want to be treated
 

·
Premium Member
Joined
·
4,096 Posts
MKM you didn't get crap.


You got brutal honest facts from those that have gone before.
Most of it a bitter walk.




The problem that plague most is that taking ONLY the jobs that make money and declining the ones that don't does not work out so well. When you sign on with most of the larger "reputable" companies they fully expect you to accept what they give you.
Decline that and they'll decline your work load. IE .... starve you/yours out.
Once again this is learned from bitter experiences.
 
T

·
Guest
Joined
·
0 Posts
Discussion Starter #18
Paradox said:
I think several on here skipped over the Logic elective courses in college.
Ask a question--don't accept the answers...

That truly is a paradox, good choice of screen name:thumbsup:
 
M

·
Guest
Joined
·
0 Posts
Discussion Starter #19
BPWY said:
MKM you didn't get crap.


You got brutal honest facts from those that have gone before.
Most of it a bitter walk.




The problem that plague most is that taking ONLY the jobs that make money and declining the ones that don't does not work out so well. When you sign on with most of the larger "reputable" companies they fully expect you to accept what they give you.
Decline that and they'll decline your work load. IE .... starve you/yours out.
Once again this is learned from bitter experiences.
There is no facts in business its all about the numbers,the way you sell and like always the customer is always right even when you know they are wrong.

Why do you guys stay in business if you just complain,go back to school.
 

·
Premium Member
Joined
·
4,096 Posts
I'm only doing maybe 2% P&P work.
I've moved on.



There is absolutely no way I'd start in the P&P business today knowing what I know about the industry today.
Its been driven to the bottom by greedy service companies taking any and all profit out of the work.


"there are no facts in business"

Thats hilarious.
 
1 - 20 of 43 Posts
Top