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I'm really surprised no one is talking about the new rental program. Rumor has it that a sister company of FAS is buying 500 million dollars of the REO properties and FAS will be doing all of the maintenance and repairs.
 
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FAS has already tons of rental properties already great bid work
 

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I dont think they are doing these in the rural areas.
 
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This is a new program, I believe a government program. Instead of selling the foreclosures, in investors will buy them in bulk and rent them out, when they do sell them a portion of the sale goes back to the government. This is my understanding.
 
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Discussion Starter #6
Been doi.g this for a couple years. called lenders lease program.
 
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Gypsos said:
Can anyone provide some details on this? Pretend I have no clue what you are taliking about. :)
Gypsos,

For us it was not a good program to be involved in. We had to supply how much would we charge for trip calls during business hours and after business hours. Basically act as a landlord and kiss tenants feet at 2am when the toilet overflows.

I can tell you that we charged $189 after hour call fee PLUS cost of labor and materials AND the response was "ARE YOU KIDDING?" :laughing:

They wanted a $25 call fee for regular hours and $40 after hour call fee from 5pm till 8am and $20 per hour labor for ONLY 1 man. For all our private work we charge $189 emergency call fee for 5pm till 8am plus $54.00 per hour and a 2 man team. NO after hours calls to these properties with only 1 person period.

Also, ALL responses had to be responded to within 1 hour and you had to be onsite within 2 hours AND they call the tenant to see if you showed up within the 2 hours or they cut the invoice.

Our first and ONLY job was at 3:15 am for a backed up sink when the drunk puked in the sink and it wouldn't go down. We fought to get paid for our invoice and they cut it to $60 minus 20% discount for a grand total of $48.00. OUR gas cost us this much not counting the lost sleep :censored:

The other contractor who "took over our route" quit 2 days later when he got called out at 1am for the tenant who lost her keys and couldn't get in the unit. :no::laughing:

I'm sure you would get hired asap since nobody else will do it:thumbsup:
 
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FremontREO said:
Gypsos,

For us it was not a good program to be involved in. We had to supply how much would we charge for trip calls during business hours and after business hours. Basically act as a landlord and kiss tenants feet at 2am when the toilet overflows.

I can tell you that we charged $189 after hour call fee PLUS cost of labor and materials AND the response was "ARE YOU KIDDING?" :laughing:

They wanted a $25 call fee for regular hours and $40 after hour call fee from 5pm till 8am and $20 per hour labor for ONLY 1 man. For all our private work we charge $189 emergency call fee for 5pm till 8am plus $54.00 per hour and a 2 man team. NO after hours calls to these properties with only 1 person period.

Also, ALL responses had to be responded to within 1 hour and you had to be onsite within 2 hours AND they call the tenant to see if you showed up within the 2 hours or they cut the invoice.

Our first and ONLY job was at 3:15 am for a backed up sink when the drunk puked in the sink and it wouldn't go down. We fought to get paid for our invoice and they cut it to $60 minus 20% discount for a grand total of $48.00. OUR gas cost us this much not counting the lost sleep :censored:

The other contractor who "took over our route" quit 2 days later when he got called out at 1am for the tenant who lost her keys and couldn't get in the unit. :no::laughing:

I'm sure you would get hired asap since nobody else will do it:thumbsup:
Yikes!
 
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