I was just going through some old stuff and was reminded that in December it will be the 8th Anniversary of this REO, BPO, and Foreclosure forum!

The idea for the forum came from George Farkas who was the sole moderator for many years and singlehandedly kept it going long before most of you found this place.

George worked very hard posting many extremely informative posts about the ins and outs of the business - and then accidentally deleted all of them when cleaning out some spam and had to begin all over again! That is dedication for you!

Thanks George for without you this forum would not have helped so many Realtors over the years!

Yeah, this board is also more active than the Agents and Brokers board. Amazing.

Thanks George!

thanks george.....I have learned alot and pray i pass it along also

George, thank you for your hard work! I really appreciated a way to network, ask questions, and laugh a little in the process.
God Bless You.

thanks for the info.. even though some of this info is a double edge sword

Thank you very much Doug! I can't believe it has been 8 years. It is interesting at NRBA get together's to hear of the REO broker's that watch this site, AND the clients that lurk. I golfed with one of the owners of Clear Capital in Denver after NRBA and Virgil said he checks in periodically to see what the folks here say about CC and his competitors. Interesting, great people here and I suppose with the market the way it is, this is now a very timely topic.
Lots of people are trying to break into the REO racket, many of them don't realize the hard work that goes into managing an asset, the reports, paying bills and sometimes not getting re-imbursed promptly (I was up to $160,000 last spring with some of the bills SEVEN months old with my receivables), dealing with overworked staff at the banks, handling copper thefts and break ins with the police, getting your listings arbitrarily pulled after 120 days. Accounting departments that have cutting invoices down to a science ($4000 for me year to date)
There are 3 REO guys here in the Twin Cities carrying over 200 listings now and I don't know how the heck they do it. My little staff of 3 struggle to manage 30-55 properties in a timely manner.
From the sound of things this REO boom is going to go through 2009. I am taking the opportunity to upgrade clients and let some of the 'problem children' go to the newbies. I flat out turned away a finder for the company that starts with an 'A' last month, they expect us to use contractors to prepare bids on properties they have absolutely no intention of performing work on.
It is interesting watching the shake out currently underway in the industry. I have bookmarked http://www.implodemortgage.com and check in perodically to see who is in trouble. The list of failed lenders is now up to 155 as of this evening.
Thanks again for the atta boy!

Just want to send you a TOTAL and ABSOLUTE thank you for this board.

I owe you a HUGE thank you as well. I had been performing BPOs when I found this site, but the information that I got here was invaluable. I also want to thank some of the "old timers" that were posting here when I found this forum (or soon thereafter). Being able to ask questions about others experiences with different companies has helped my business as well. Gary, Ben, amplet, super realtor, ky realtor, Gig em, Angie, KT and others have been a great resource. Thanks to all of you.

This forum is truly a treasure! The people are here are wonderful and I have learned so much (and hopefully have given back) from this forum. I spent hours upon hours reading posts learning about REO and BPO's. I appreciate everyone on here and all the info you all over the years have provided for all of us to see and use. I would be lost without the forum, I can always count on finding what I need on here and for that, Thank You!!

Angie

thank you George! you have helped so many by developing this site! it is truely a great resource for this business!

Here is a bonus for those of you trying to get on with Wells Fargo. Go to https://portal.pasreo.com/Home/tabid/73/Default.aspx

Select DEFAULT SCHOOL ENROLLMENT on the left side of the screen about 1/3 of the way down. Then access the drop down menu for your state (right side of the screen), select, then click on Wells Fargo training. Depending on where you live cost will be $299-399. Complete the training modules and in a month to 6 weeks you should start getting work. YOU HAVE to pay attention to deadlines with them or the work will dry up. I have had 19 REO's sent since July when I finished about 18 drive by BPO's and 2 interior 2nd opinions.

This site has helped me immensely. Thank you for starting it and thank all of you members who have shared all of the information good and bad!

This site was and is really a great idea. It has become a brain dump and a funny place to have exchanges. Thanks for the hard work, it's a treasure.

Doug, thanks for letting us know everything George did and is continuing to do. When I found Agents Online and the BPO forum, believe me, I jumped on here and set up camp. It was a lifesaver for me. Angie summed it up--we would be lost without it.

George, you showed great vision in starting this forum. You put the wheels in motion for me and so many others to find the help we needed to make a living in this segment of real estate. I don't know how you made the time, but I am grateful you did. Many, many thanks from all of us. God Bless You.

Darlene Bitner