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Discussion Starter · #1 ·
I was told today that a large reason why the nationals and regionals are demanding the vast number of photos they are is that they sell the photos and condition reports to investors so they can make a more informed decision at the court house steps when buying properties sight unseen.

I heard they are getting the handsome sum of $1.25 per photo and pay the contractors.................. NOTHING.



I heard some other things too that may be part of a legal case, I'm not divulging that.


But seriously.................... what else are these super greedy clowns doing to cheat the contractors out of money?????
Think about it. They sure have.
 

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who is your source on that info? I find that hard to believe, hud requires photos and I don't see a national maybe a regional selling photos. That's would be a huge slap on the face by HUD if somebody was caught doing that.
 

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Discussion Starter · #3 ·
At this point I'm not able to say who, but I believe the industry is going to blow wide open by years end.

I'm told the practice has been going on for an extended time.

I also believe from things I hear that the level corruption in this industry is far far beyond most folks, if not all, imagination.
The HuffPo articles are going to be bring some interesting things to light as they continue to come out.
I believe they've released 2 out of a series of 6.

I've heard a lot of things over the last few years from industry insiders or those that have left various nationals or regionals, but now the pace seems to be stepping up and may lead to investigations by the IRS, DOJ, HUD etc.
 

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who is your source on that info? I find that hard to believe, hud requires photos and I don't see a national maybe a regional selling photos. That's would be a huge slap on the face by HUD if somebody was caught doing that.
From what I'm told, HUD and the banks RARELY look at the photos and yes, many times investors do get photos from the Nationals. The levels of income for the Nationals in this business are mind blowing.......
 

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Discussion Starter · #5 ·
I've said for years that IF they were inspecting the pics a lot of the insanity would NOT be taking place.
 

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Doesn't surprise me a bit. When you have holding firms selling off blocks of 1,500 homes to investors at a tim. There is bound to be somebody willing to walk the shaded line in an effort to gain the upper hand.
Unfortunately, even if exposed little will change. It's racketeering at it's finest, but easily skirted in a court of law with so many damn loopholes to squeak through. Much like Wall Street, the "haves" will still find a way to bilk the system.
 

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? . .I also believe from things I hear that the level corruption in this industry is far far beyond most folks, if not all, imagination. . .
I have personally witnessed a level of fraud and corruption from one greedy regional company in the last 2 weeks that I haven't seen since I started in this industry.

Remember the saying, "when a small man casts a big shadow, the sun's about to set"? Well folks, it's evening time!

More info is coming in the near future. . .
 

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I have personally witnessed a level of fraud and corruption from one greedy regional company in the last 2 weeks that I haven't seen since I started in this industry.

Remember the saying, "when a small man casts a big shadow, the sun's about to set"? Well folks, it's evening time!

More info is coming in the near future. . .

QUICK UPDATE:

The fact that a major national company has recently lost one of its major clients in multiple states is directly related to the actions of the above mentioned "greedy regional company".

Amazing how it took a small group of honest P&P contractors to compile and step forward to bring all this fraud to light to get the ball rolling. Something that the big nationals QC department either refused or just plain failed to do.

It brings a smile to my face every time I think about it.:D
 
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