REO Property Preservation Forum banner
1 - 8 of 8 Posts

·
Registered
Joined
·
5 Posts
Discussion Starter · #1 ·
Hey, News is that property values are going up, homes are being brought and rehabed. What does all of this mean for preservation people. Is there a way to make a living in this business anymore ? What what Ive seen in the last month no one really getting a lot of work. Anyone have insight on this mess? Cause I'd really like to make some sense of it all. Sure iam not the only one.
 

·
Registered
Joined
·
236 Posts
Hey, News is that property values are going up, homes are being brought and rehabed. What does all of this mean for preservation people. Is there a way to make a living in this business anymore ? What what Ive seen in the last month no one really getting a lot of work. Anyone have insight on this mess? Cause I'd really like to make some sense of it all. Sure iam not the only one.
Banks rehabs them and rent it out. Banks sold as bulk to investors - investor fix up and rent it out for couple of years until market turn around.
 

·
Premium Member
Joined
·
3,186 Posts
You are a hybrid contractor in a finite industry. There will be a point in the near future when it will no longer be feasible to make a steady living doing only P&P work. There won't be the volume but there will always be repos, however, the business is being changed by the Gov, the lenders, the Nationals. Point being, keep your day job.
 

·
Registered
Joined
·
616 Posts
You are a hybrid contractor in a finite industry. There will be a point in the near future when it will no longer be feasible to make a steady living doing only P&P work. There won't be the volume but there will always be repos, however, the business is being changed by the Gov, the lenders, the Nationals. Point being, keep your day job.
Add to teh mix the Deed in Leiu and hte banks renting back the propertry for 3 years ( avg) then at end og lease it gets sold when hte market is better. P&P was rumored to pick back up in 2015 . We are ina bubble locally that has not had a slowdown of new starts and i have to wonder if we are juyst insulated because of all the govt work or just behind teh time line. If it does hit here we are going to be hammered. I reflect back to 08 to 10 and man we were rolling. A couple more years like that and I'd be sitting beside Jimmie Buffet with a cheeseburger in paradise!
 

·
Registered
Joined
·
21 Posts
Add to teh mix the Deed in Leiu and hte banks renting back the propertry for 3 years ( avg) then at end og lease it gets sold when hte market is better. P&P was rumored to pick back up in 2015 . We are ina bubble locally that has not had a slowdown of new starts and i have to wonder if we are juyst insulated because of all the govt work or just behind teh time line. If it does hit here we are going to be hammered. I reflect back to 08 to 10 and man we were rolling. A couple more years like that and I'd be sitting beside Jimmie Buffet with a cheeseburger in paradise!
Just one more year like 08 please please please! Don't think it's gonna happen. Even if it does, there are too many people waiting to jump in on the wave and we'll be lucky to see a fraction of what we individually rec'd back then. Also, 1 crew could handle 2 - 3 initials in a day back in 07 - 08. With today's scope and requirements a crew can't get more than 1 in a day unless it's one of the newer easy homes of course but you can never bank on it. Going forward this will be a nice little side business I'm afraid but never again the machine it was. If you were fortunate enough to get in when it was good just be thankful for the good run you had and kick yourself twice if you didn't pay off your own home! Hopefully I'm totally wrong. Man I never hoped to be so wrong!
 

·
Premium Member
Joined
·
4,096 Posts
Hey, News is that property values are going up, homes are being brought and rehabed. What does all of this mean for preservation people. Is there a way to make a living in this business anymore ? What what Ive seen in the last month no one really getting a lot of work. Anyone have insight on this mess? Cause I'd really like to make some sense of it all. Sure iam not the only one.




Home values are going??
That would have to suggest that the economy is picking up.

And it sure is not. Sounds like hype to me.



While this article is completely on target it does have some ties to this subject.

http://theeconomiccollapseblog.com/...ves-that-things-are-getting-better-in-america

Scary times are right around the corner and this country is already in the corner.
 

·
Registered
Joined
·
751 Posts
Home values are going??
That would have to suggest that the economy is picking up.

And it sure is not. Sounds like hype to me.



While this article is completely on target it does have some ties to this subject.

http://theeconomiccollapseblog.com/...ves-that-things-are-getting-better-in-america

Scary times are right around the corner and this country is already in the corner.
I agree. I look around me and do not see any signs of improvement on the scale needed to to say the economy is picking up.

I still get plenty of work in my area and I routinely get calls from guys looking for a job.

I have seen a few bigger construction jobs, mostly it is the larger car dealers remodeling or building new facilites.

They are smart to get the work done now because the cost of labor is about 50% what it is when the economy is good.

What I do not see is new homes being built and there are still housing communities where the roads and underground were completed years ago for over 300 new homes and there is less than 40 homes in them.

Unemployement is still off the chain. Teenagers cannot get work at most of the fast food places because a 40 year old electrical engineer is working the job for minumum wage as his second or third job.

Nope, I still stand my my prediction of a year ago when I said if Obama got relected this would be a good business to be in for at least another 6 to 10 years. So far I have been right.

This time last year I had only 60 recuts and 40 maids each month. Now I have over 100 recuts and 60 maids each month and have picked up another realtor who wants me to do his work.
 

·
Premium Member
Joined
·
4,096 Posts
My sister lives in OH where the economy has been bad and the idiots there overwhelming voted for the previous disaster to continue being a disaster.

There is no work and no jobs.
 
1 - 8 of 8 Posts
Top