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  #11  
Old 11-08-2009, 03:40 PM
ccmark ccmark is offline
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Location: Plainfield, Illinois
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I have been doing a few this year and they have been great. I get paid like clock work 2 times per month. I am able to charge my normal amount. No complaints from me.
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  #12  
Old 11-08-2009, 05:52 PM
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Pietro Pietro is offline
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We will do them but must be paid in advance.
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  #13  
Old 11-08-2009, 07:53 PM
RDA RDA is offline
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Quote:
Originally Posted by topsites View Post
The reality is a Realtor comes in right around the same level as doctors and lawyers, these folks
have Master's degrees with a background in law and are usually nowhere NEAR the poverty level.
I had no idea that Realtors in your area were so well educated and wealthy, that sure isn't the case in my experience.

Regards,

Rich - knows plenty of Realtors, not one has a Masters degree and I don't think I would consider any of them wealthy although President Obama might....
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  #14  
Old 05-16-2011, 08:10 PM
envy envy is offline
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I am doing it now 4 days a week this is my first year in the biz I worked in landscaping for over 10 years. It is good I get paid but think that I am working to hard for what I am getting paid. The lawns are about $20 a peace if I was cutting for a res weekly with banks the houses are real bad and only getting 65 per house I think that I should be getting 100 per. Because it is just like doing a clean up and I charge hourly and 35 per hour
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  #15  
Old 05-16-2011, 09:30 PM
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Fresh_Cut Fresh_Cut is offline
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Location: Atlanta, GA
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Quote:
Originally Posted by Think Green View Post
Advanced,
As you are reading the other posts, it is clear that 50% of the LCO's either are making money on these Asset Recovery properties or they aren't. The majority of the responses are correct in payment procedures and amounts. The mowing is done according to the Assets Recovery Department's team through the bank's presidents.
Mowing on a two week basis is standard for our foreclosures. Other areas may be more specific upon the turfgrass type. It all depends on the area, as we have engaged to new properties that were not touched in 2-3 months. The Asset Recovery manager is supposed to visit these sites and access the work to be done. They don't have a clue to what it takes to maintain these properties just as a laper couldn't tell what needed to be done to a damaged roof. We would get these properties..........make the initial property inspection.......take photo's of the lawn........take photo's of the interiors of the homes..................make bids for cleaning and disposal of all contents. Once you see these sites and the bank has a trust relationship with you, then payment isn't a big issue. You have to know someone higher up on the financial corporate ladder.
On to the issue of working for the agent trying to sell the home.........! Well, most of them are struggling to sell the home in a tight market right now. All their efforts and some pocket money, not excluding the advertisements are coming out of their pockets. These salesman are wanting it done for cheap prices. Don't get me wrong as it is area specific and does not reflect all real estate markets. For the majority, sales are down......the lawns have to be kept up by code or HOA. When it comes to working with individual agents making out the checks, they will pay in advance for each month's work. The initial cleanup cost is payable in advance before any work is started. The banking institutions pay just the same way unless someone you know and TRUST is working higher up and payment is received in 30 days. It took about a month for our first payment to clear the Asset Department and then after that it was all good. I just say from deep experience, stay away from the real estate side of the maintenance unless you are well liked and respected. There are a few agents in my city whom still owe petty money for non-rendering of services provided. The homes are still sitting on the market and with no-sales. Agent's are flip flopping these houses in attempts to sell them quicker..................so you can't rely on whom has the home from contract to contract. Your money will float around and no one will assume responsiblity.
Watch your self and don't sell out short............if the agencies don't want to play by the prepayment rules, then don't undergo a stressfull situation to have something to do!!!
You say work is payable in advance? With what bank? or FSM company?

I don't doubt you, I'm just asking questions to get a better understanding.

From what I understand, national banks sub the duty of managing the bank-owned properties to Field Service Management companies. These FSM's get a cut, called a "discount", and have the work done by local or regional outfits/contractors.
I have a good buddy that's also an LCO and he's been doing this exclusively for about 4 years(he loathes dealing with residential customers). He hates the way they handle him. He was doing cleanouts, trashouts, inspections, HPIR(hud property inspection reports), initial grass cuts, and grass recuts.
He works with Safeguard Properties, and Snow Enterprises. He's since stopped doing the clean-outs and trash-outs, and focused on the inspections and grass cuts, but here lately, through networking with other contractors, he's realized that one of the companies has been BS'n him on what they pay him for inspections. He talks to another contractor doing the same kind of inspections for the same company and they are paying the other contractor more per inspection! SMH
My buddy always has a cash flow problem because of getting paid net 30 and having to basically finance the FSM's operations upfront, and gets next to nothing for grass cuts.

I want to get into cutting bank owned properties for the stability of it, but not at the cost of losing revenue or even having a small profit margin. I want to make money!

How do I get in with doing them directly for the banks? At what level should I be looking to make contacts?
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  #16  
Old 05-17-2011, 04:49 PM
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Fresh_Cut Fresh_Cut is offline
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Location: Atlanta, GA
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bump.......
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2004 NPR HD 16' box truck w/ 4' dovetail
2004 eXmark Turf Tracer 52"/20hp Kohler
2003 eXmark LaZer Z 52"/27hp Kohler
2003 eXmark Turf Tracer HP 36"/15hp Kaw
Stihl SG 20 Backpack sprayer
Stihl handhelds
Stihl HL-100
Stihl BR600 Magnums
Need a good Stihl chainsaw
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  #17  
Old 05-23-2011, 10:59 AM
envy envy is offline
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Join Date: Jan 2011
Location: S.C.S.
Posts: 3
i do first time cuts and weeding gutters but i get my work frome GTJ i live by detroit trere are big here
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  #18  
Old 05-23-2011, 04:44 PM
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vencops vencops is offline
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Join Date: Feb 2011
Location: NC
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Quote:
From what I understand, national banks sub the duty of managing the bank-owned properties to Field Service Management companies. These FSM's get a cut, called a "discount", and have the work done by local or regional outfits/contractors.
You need to find out which agents/brokers in your area are handling REO properties......and work for them, directly.

I don't deal with national chains. They're my competitors.
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  #19  
Old 05-29-2011, 07:15 PM
maserati58 maserati58 is offline
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Location: riverside, IL
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who are you contracted with
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  #20  
Old 05-29-2011, 08:17 PM
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vencops vencops is offline
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Join Date: Feb 2011
Location: NC
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I currently do work for one national and two local lending institutions. I didn't like the idea of waiting for an agent or broker to ask me to the dance. So, I put together my own "team"; picked the broker/agent I wanted to work with....and "I" took the package to the lender.

I don't sub out LCO work. I do it, myself. The numbers I see posted in these threads are laughable. I get "up to" $200 for an initial lawn maintenance. I get $60/wk/asset to maintain the lawns.

Your mileage may vary.
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