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Discussion Starter #1
A week or so ago i posted an add i found on CL from a company that claimed they got a huge contract. Fast Forward to this AM. Got a call from a Canton MI #. The lady said she just landed a big contract and had a couple dozen properties they needed REO services on in my county ASAP. Hmm, What a coincidence! Thats about the same # of homes that local agents i know have been assigned to in the last month. I asked if it was for FAS, She said yes. Told her to give me the lowdown.............

Up to 40 Cu Yds debris
Janitorial
Mow 1/2 acre
Winterize

Price you ask??????? $400!!!! :laughing::laughing: Not my company i tell her. :no: Rate needs to at least double!! She says she'll keep trying.


A bit later i meet up with a fellow contractor and guess who he is on the phone with? She is on speaker so i here it all. Tells him 30 Cu Yds and all the other services, then a bit later she says 35 Cu Yds. WTF??? When questioned about the lockchange, This woman says the broker is responsible. The directive the brokers all got is that FAS is responsible! Even checked with a few of my brokers today and none of them have been informed they are allowed to rekey. Meanwhile, these properties sit with frozen pipes, water damage, food in fridges rotting, trash all over Ect. WTF was BAC thinking????? If FAS could not service them 2 years ago and lost the gig, why did BAC go back to them??

FWIW, everything up here was being taken care of in a very timely matter when the agents where running the show. Many of these properties that are just sitting could have been under contract already if it wasn't for this fiasco!!!!!
 
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And dont forget. . .
within hours of this call, I get another recruiting email directly from FAS

What a mess they've created
 

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thanohano44 said:
Fellas,
If we don't get work done as agreed, we lose our work. Same goes for FAS. Do sorry to hear.




I'm over here crying a river.............

Not me, I got no use for FAS after my experiences in 09.
 

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Discussion Starter #6
Doberman Prop said:
$400.00 might be a lot of money to some people.

I guess it might be ok if your uninsured, using a push mower and snow shovel, Bycycle pump to blow out your water lines and dumping your trash in a dark alley somewhere. When your a professional company with insurance, dump trailers, professional lawn equipment, professional plowing equipment and people who take pride in their work $400 doesn't even open the doors for business every day!!
 

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mtmtnman said:
I guess it might be ok if your uninsured, using a push mower and snow shovel, Bycycle pump to blow out your water lines and dumping your trash in a dark alley somewhere. When your a professional company with insurance, dump trailers, professional lawn equipment, professional plowing equipment and people who take pride in their work $400 doesn't even open the doors for business every day!!
I agree with you 100%. My competition are not processional companies they are folks about to be on the street themselves scrambling for every penny they can get. In most cases they are hired by people in an office somewhere that have convinced the national that they are a big company covering the whole USA!

Not to get on a rant here but it burns me a little!
 

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$400 initial service orders breeds flydumping to save on fees & one man crews that can't properly complete the entire order as it should be done. Now that unemployment is so bad, guys with no previous REO experience are getting into the game. So when these emails come into us demanding we carry their own high end E & O so they can file on us at will, I say to myself, "Really?"
 

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I have guys that worked for us 4 or 5 years ago that call about this time of year when their unions are laying off looking for some work. When they hear me tell them what prices are now compared to when they did trashouts before, it's a "Thanks but no thanks" type of conversation.
 

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GTX63 said:
I have guys that worked for us 4 or 5 years ago that call about this time of year when their unions are laying off looking for some work. When they hear me tell them what prices are now compared to when they did trashouts before, it's a "Thanks but no thanks" type of conversation.
That happens in every industry. I started selling windows for $1500.00 a hole in the late 90's you can buy them all day long for $185.00.

The industry changes every industry does. We can make alot more money on mold and other things than guys could 10 years ago. We just have to find different ways to make money. It's still there we just have to find it.
 
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Around and around they go,, banks go to the nationals, till they see that they can not deliver as promessed,, takes 6 months to a year.

But after many cycles of getting cut off at the knees, I no longer have any loyalty to "those" clients.
 
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re

GTX63 said:
$400 initial service orders breeds flydumping to save on fees & one man crews that can't properly complete the entire order as it should be done. Now that unemployment is so bad, guys with no previous REO experience are getting into the game. So when these emails come into us demanding we carry their own high end E & O so they can file on us at will, I say to myself, "Really?"
An order like this would be no trouble for a 1 man crew depending on what the debris is (I got one guy that will fill a 15 yd trailer before he breaks for breakfast) but around here you would spend more then $400 just at the dump for 40cy.

When you say "flydumping" do you actually mean people just dumping crap somewhere. I didn't realize this actually happened I would think they would put you in jail for that.
 

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Yes, I mean hacks piling the debris out of the photos and leaving it onsite. I mean hauling the debris from one trashout to another property and dumping it there, and leaving it or billing to remove it again. I mean taking a trailer load of raw garbage and pulling off the road after dark and pushing it into the ditch.
 
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GTX63 said:
Yes, I mean hacks piling the debris out of the photos and leaving it onsite. I mean hauling the debris from one trashout to another property and dumping it there, and leaving it or billing to remove it again. I mean taking a trailer load of raw garbage and pulling off the road after dark and pushing it into the ditch.

Seems like that wouldn't be worth the risk, I would imagine that the fine if they catch you dumping 15cy of debris on the side of the road would be north of 4 figures. Seems hardly worth it to save $200 in dump fees. Now piling debris outside of photos I could understand. We had a guy that used to do that. He loved to hide stuff in rafters or stick extra random crap in the basement and pretend like the bank would want us to leave all the empty paint cans "so the new owners can match the color". He didn't last long because I don't think he realized that I like to follow up on all of our properties to make sure everything is done.
 

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WTF was BAC thinking????? If FAS could not service them 2 years ago and lost the gig, why did BAC go back to them??

I've noticed a large increase in bids and subequent work from them... although their not the sharpest tacks on the board... their cash is green.
 

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CHECK your receivables FAS CONTRACTORS talked with accounting last week and asked where a check was that had been issued 7 days ago. They have been cut but we are not authorized to release them yet. WTF !!!! THEY ARE SINKING I have been getting bid requests and denying them because of their NON PAYMENT or being in violation of their own contract which ststes 45 day payout.
 
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splinterpicker said:
CHECK your receivables FAS CONTRACTORS talked with accounting last week and asked where a check was that had been issued 7 days ago. They have been cut but we are not authorized to release them yet. WTF !!!! THEY ARE SINKING I have been getting bid requests and denying them because of their NON PAYMENT or being in violation of their own contract which ststes 45 day payout.
I have been backing away them since they started there rip oof fate rate program started. Glad I did! Been getting alot of work from them but turning it down.
 
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STARBABY said:
I have been backing away them since they started there rip oof fate rate program started. Glad I did! Been getting alot of work from them but turning it down.
Can't say we have had nay problem with their payments. AMS can take 75 days plus. I think FAS is the lesser of several evils when we talk nationals. But que...sera...sera.
 

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Discussion Starter #20
warranpiece said:
Can't say we have had nay problem with their payments. AMS can take 75 days plus. I think FAS is the lesser of several evils when we talk nationals. But que...sera...sera.
Four two and a half years I was never past 20 days after the end of the month that work was completed in for AMS. I believe I only missed the preferred vendor bonus 1 time n 2 and 1 half years . I never paid the early pay percentage as I always qualified for free early pay. This was accomplished by keeping in touch with the brokers and explaining the process to them in the beginning so they have an understanding of what was being done. It was all so accomplished by taking the broker side if they were right. Many times I fought AMS for the brokers. I still got plenty of work until safeguard took over.
 
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