Real Estate Foreclosures

Discussion in 'Lawn Mowing' started by Deputy, Mar 20, 2008.

  1. Deputy

    Deputy LawnSite Member
    Posts: 34

    Anyone talked to a real estate agent regarding foreclosure property? Talked to one today sounds pretty good, pay pretty good, anyone with any experience? Anything to look out for?
     
  2. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    You want to physically drive out there and take a look at it?

    Other than that just be aware that 60-90 days delay on the payment is normal and 120-180 is not unheard of, but most do pay.
    You might be able to get around this delay if you discuss the matter with them and listen to what they say, how it is, it might be different from one to the next I don't know.
     
  3. 4curbappeal

    4curbappeal LawnSite Senior Member
    Posts: 761

    I am a Real Estate agent as well as an LCO. I have close to 3K still outstanding from last year. Most of the banks/lenders that own your foreclosures are not going to be local. I thought it might be a way to make some good $, but not really! I will (hopefully)collect and let someone else try this year! Not my cup of tea!
     
  4. RickR1818

    RickR1818 LawnSite Senior Member
    Posts: 342

    4curbappeal, if you dont mind, could u PM who you have the problem with. I may be doing some REO's but want to make sure it isn't who you have dealt with.
     
  5. Deputy

    Deputy LawnSite Member
    Posts: 34

    4curbappeal, could I do the contract with the real estate agent, then it will be up to him to get his money from the bank. What banks are you dealing with that you are still waiting on money from, if you can tell me?
     
  6. RickR1818

    RickR1818 LawnSite Senior Member
    Posts: 342

    Just because you contract with the agent, if the bank does not pay him you won't get the money. you can take to small claims court but that does not do much either.
     
  7. flattoplawncare

    flattoplawncare LawnSite Senior Member
    Posts: 321

    LOL What a joke it is, sounds great but pays soooooo slow, it is already mowing season (almost) and i still have not been paid!! STAY AWAY!!!!
     
  8. RickR1818

    RickR1818 LawnSite Senior Member
    Posts: 342

    I am currently talking to a company that states that they pay weekly. I am skeptical about this but at least a week worth of work is easier to do for free than a month or two LOL.
     
  9. clmllc

    clmllc LawnSite Member
    Posts: 25

    The asset companies do pay slow. I contract with Crye-Leike here in Memphis and for the most part payment comes on net 15. But with that said i have waited 90 at the most. The money cant be beat. Go for it!!.
     
  10. ffemt1271

    ffemt1271 LawnSite Bronze Member
    Posts: 1,285

    if someone from field assets(they handle a lot of mortgage co's properties) contacts you HANG UP you dont want to deal with them.
    thier PAY SUCKS(they determine price too, you have to take before and after pics, to thier specs, if they dont like them they dont pay. do a search for field assets there was a discussion here last year about them
     

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