My opinions:
- Try and get a decent amount of capital to avoid the "paid when we get paid" mentality. Example: US Best doesn't always pay the best prices, but always pay FAST. That's worth something to me, and I'm willing to accept slightly lower margins because of it.
- P&P model makes sense when you, or employees are going to do the work. Subbing it out scares the hell out of me. They didn't report that roof leak? YOU get charged back. REO, from my experience, if you do get any sort of chargeback they pale in comparison to P&P chargebacks.
- You will have contractors not like you, even if you do everything perfectly. If you get a non-preservation contractor, they are not used to the picture requirements, and will not understand why they can't get paid for not taking the right pictures. They will get pissed.
- Try and get a decent amount of capital to avoid the "paid when we get paid" mentality. Example: US Best doesn't always pay the best prices, but always pay FAST. That's worth something to me, and I'm willing to accept slightly lower margins because of it.
- P&P model makes sense when you, or employees are going to do the work. Subbing it out scares the hell out of me. They didn't report that roof leak? YOU get charged back. REO, from my experience, if you do get any sort of chargeback they pale in comparison to P&P chargebacks.
- You will have contractors not like you, even if you do everything perfectly. If you get a non-preservation contractor, they are not used to the picture requirements, and will not understand why they can't get paid for not taking the right pictures. They will get pissed.