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Discussion Starter #1
I assume REO means real estate owned, so a real estate company is paying for all the work on a foreclosure they own, but isn't pp/property preservation where HUD(the gov) or fannie mae (paid by countrie's taxes and represents bank of america and other banks) pays for the work done on these houses?
Some of the gross prices before it gets subbed out are rediculously high, like $100 to mow a tiny lawn then mow it again two weeks later to take just an inch off it, or 1/4 the price of a new pool just to tarp it up, $400 for a winterization, etc. $1K to remove a small tree that takes only an hour. Stories of changing four $3.0 doorknobs for $200, etc
I wouldn't have the nerve to ask a regular homeowner to pay me anywhere near what some pp jobs pay. I assumed before I read fannie mae is all tax money and 'bought' the foreclosures from the bank, that the money was coming from the bank, and I didn't give a hoot for them if they paid me $500 in 2 easy hours because they're the bank and they invest everyone's money and have billions of profit for doing nothing much more than making money make money by taking everyone's money and investing it the right way. i'm not an investment banker or anything, so fogive me if this is all totally off.
 
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Wow I'd like to get paid some of your numbers. Like lock change. Let's see here you need to get into the house, that means picking the lock or drilling it out. Lets say it's got a dead bolt and a knob set. Now your drilling out 2 locks just to get in. Your getting your locks for $3 each. WOW your buying in bulk then, and sitting on inventory.

Yeh that little yard is worth $100 cause it's 3' tall and hasn't been mowed in a year. You've got to weed wack it then cut it. Oh let's not forget about disposal of the grass. Or you've got one big AZZ compost bin.

These houses a owned by banks and morgage companies and are assets. They don't always think of them that way. These national companies are a tight as Ebenezer Scrooge. They want to pay nothing for wanting everything.

Ask anyone working for FAS (Field Asset Services) their getting royaly screwed right by FAS's new pricing plan. This business is not for the faint of heart.
 
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I think this person googled the hud and fannie max pay out.I would love to get that kind of money but we don't.The jobs we do get good money we have to wait from anywheres from 30 to 90 days to receive payment.

Then there is the beloved take 200 pictures and hold onto them and spend hours and hours up loading them.The one hour drive for 25 dollars and waiting for the police for a vandalism report which ends up being a 4 hour affair for once again the 25 dollars.

There are jobs that yes I will admit I make great money but it is not roses all the time.

if its too good to be true,then it is proally not true
 
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Discussion Starter #4
I know nationals are getting the gross cost and taking an ebinizer schrooge % when they find someone to do the work or sub it out a second time, but was wondering if the $ came from taxes.
The lock stories I said I heard. Still, drilling out two 2" holes into metal takes like 2 minutes. The $100 grass cut is a re-cut/bi-monthly gross price it says on the HUD cost schedule website. The HUD costs have nothing to do with anything over the allowable/usually a foot+ of grass. Anything over that, you bid for more.
 
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Discussion Starter #6
stevenbbx said:
I know nationals are getting the gross cost and taking an ebinizer schrooge % when they find someone to do the work or sub it out a second time, but was wondering if the $ came from taxes.
The lock stories I said I heard. Still, drilling out two 2" holes into metal takes like 2 minutes. The $100 grass cut is a re-cut/bi-monthly gross price it says on the HUD cost schedule website. The HUD costs have nothing to do with anything over the allowable/usually a foot+ of grass. Anything over that, you bid for more.
It's nothing like you think. For a $100 cut its an acre or more that's 3' tall. Actually drilling out a lock takes longer than 2min. That bud pricing you see on the website was undercut drastically for the national to get the contract. This business is an illusion.
 
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Discussion Starter #7
stevenbbx said:
I'm just wondering where the $ comes from.
It comes from the government, thank goodness. Nobody has to pay for it.
 
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Discussion Starter #10
1) The cost of the p&p work is added onto the backside of the loan. I've heard numbers that say that only 3% of the cost of the property upkeep is ever paid by the "ex" homeowner--usually when the property is redemned.

2) Bank pays the cost of the upkeep to the service company who then trickles out payment to the contractor doing the work

3) Bank gets reimbursed through HUD/FHA/FannieMae or monies from the bailouts

4) Insurance reimburses for some costs...ie damage repairs etc

5) TAXPAYERS (you and me)
 
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Discussion Starter #11
Money come from Obummers stimulus package. Tax money.
 
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Discussion Starter #12
So by proxy does this mean the P&P guys are "entitled" welfare recipients? lol
 

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RandyB1986 said:
So by proxy does this mean the P&P guys are "entitled" welfare recipients? lol
Hmmmmmm, perhaps we are. Except we actually work and front the cost of doing the job before being reimbursed. Perhaps we are just ****ing idiots instead!
 
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Discussion Starter #15
XLARGEX said:
I know where getting them for close to 3 ;)
Do you have a website or a contact for 3 a lock?Do share please
 
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Discussion Starter #17
a1propertyclean said:
http://www.ushardwaresupply.com/contact.aspx has been a good supplier for us. Locks are not at $3 but, for anyone in or around Vegas, NV, or in or around North Canton, OH, you can place an order and pick them up, saving the shipping fees.

Linda
I will actually be in vegas Dec16 for a weekend getaway,maybe I can grab a cab while i am trying to sober up and get me some close to 3 locks.
 

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MKM Landscaping said:
I will actually be in vegas Dec16 for a weekend getaway,maybe I can grab a cab while i am trying to sober up and get me some close to 3 locks.
Well, they're not $3. I think they're $5. But even $3 locks will end up being $5 with shipping so it could work out well for you.

Linda
 
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Discussion Starter #20
MKM Landscaping said:
Do you have a website or a contact for 3 a lock?Do share please
But were also buying 40k a month in supplies i think
 
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