Not even sure what a plebe us, but i magine it means I dont have hundredas of posts. Just because i dont spend 12 hours a day postong on this forum doesnt mean this guy deserves more respect tham me or anyone else.

I have given dozens of members of this forum contact info to AMs which has helped them generate business. In this post I was merely sharing what has been working for me.

Almost seems like some people on here would just rather everyone post how bad they are doing and if you dont you get attacked.

sorry... Friday night and too many beers...and too much work! but Ive been at this board for awhile and it was a year before I felt I could add my 2 cents worth! and whats that worth today? not a whole lot! LOL

I am also trying to understand what up with the current conditions...all I know for sure is Ive been doing these for several years and recently alot more fannie orders/interiors and several new companies that I signed up with moons ago are now calling me direct...Im thinking experience will get me thru this crisis! I think alot have missed the boat! ps...I asked my financial advisor to keep a ear out for any names that might sound interesting! Im not sure that will work but...Im glad I did my homework early!

Flash back in time. In the early 90s the same questions came up. What will become of me when the REO market drys up? Many of the new comers gave up and went back to retail RE. The stronger, for lack of a better word, expanded our territory, solidified our relationships with our clients and maintained our profitibility. My most serious competitors are the same now as they were 15+ years ago, and in the process we've also become friends. It was a smaller pie, but it was split up into fewer slices. It's really not much different than any other industry that's undergoing change or turmoil; You either adapt or drop by the wayside. I'm not entirely certain just what the face of REO will look like in 3-5 years. However, 5 years ago I never thought it would look like this? Actually 5 years ago anyone that could fog a mirror could get a mortgage, and anyone that could fog that same mirror could make a living selling real estate. Once again as the industry changes the culling process begins. Very posibly half this forum will adapt, and half will whine about the half that adapted.

JackREO - just wanted to make sure you saw that PM flashing at the top of the page?

As everyone seems to say; we need to adapt / grow our businesses / or move on.

I was thinking that with a little (or a lot) of thinking if we could see and understand the changes that are about to happen and anticipate them - we can position ourselves to make the most of them.

I don't know - maybe nothing will change at all - but I have a feeling that steps will be taken in the near future (1-2 yrs) that will shake up BPO work and most likely even the REO.

However with the REO - we may be asked to make adjustments to our services REO will still go through brokers.

The fly in that bowl of soup would be if banks were allowed to get into the real estate market like they have been trying to for years. At that point - I have no idea what the fate of REO would be.

"The fly in that bowl of soup would be if banks were allowed to get into the real estate market like they have been trying to for years. At that point - I have no idea what the fate of REO would be."

Nar would never let this happen.This has been one of there top priorities every year.

As far as the REO business.All I know is I have been in real estate a measly 5 years.When the market was hot you couldn't give away Reo's.Why would a buyer want a messed up house when a brand new one appreciated so fast? Most could refi out when they got in trouble anyways.I must of seen maybe 1 to 2 foreclosures a month back then.

In todays legal paper every month for my county I see 100 to 200 going to the steps with hundreds of reo's already on the mls.When you see a regular seller listing ther eproperty you think they are nuts to go up against what the banks are pricing them at to sell.

I believe there are still years of bad times ahead.There are to many unknown jumbo,option arm,and stated income loans floating around out there along with loosely underwritten commercial loans.

I still do reo's but also my commercial listings.I am 33 now and my goal is to retire at 40 from real estate in the conventional sense.I will still have my brokers liscense but will work full time on my investments and commercial developments.

That's what get's my blood pumping everyday is looking for new deals to come on the market or find an interesting piece of land by driving around.

super realtor - congratulations - you have a plan and you're working it, inspiring to us all.

There are always a certain amount of 'unintended' results when the Fed jumps in and attempts to fix things on the fly.

There will certainly be hurdles ahead for us as well as opportunities.

Listening to the news this morning I see the Fed intends to 'invest' in banks instead of 'just' buying up their troubled assets. Well that's good because then as tax payers we also receive a benefit if the banks turn around. It wasn't said at what point the Feds would then get out?

On the other-hand - situations like CW/CHL through BofA having closed their REO division off except through invitation - perhaps it would have better off to have the Feds buy the assets, from a completely selfish position, since FED monies would be/are involved, perhaps at some point they may have been required to offer the REO to a competitive market.

I see it many ways - and view this as the short term and immediate repercussions of what's at hand. Seeing 3 years and further out is going to require more insight then I currently have.

Of course we all will just deal with it when it comes - but just as you have a good solid plan - I feel that building a business that could possibly survive after I become less involved in it in the future will depend on how I plan and act now for what is ahead.

The ALT A paper tide is coming, it will be a brutal 3-4 years for borrowers of these exotic and toxic loans. If the Govt. steps in and purchased these loans back and do the Countrywide 3.5% fixed rate shuffle, it will still not help because the employment outlook is not good for the next 2-3 years and the reality is that borrowers of these loans will default even after the Countrywide shuffle of the 3.5% rate adjustment, yes it is that BAD.

I hate sound gloomy doomy, but it's simple economics, we are just now starting our deep recession in this country, and it won't get better anytime soon, deflation will be the main cause of possible world economic depression. I predict the DOW to go below 8000 by the Q1 of 2009.

As far as REO's and BPO's, I don't think we will have anything to worry about, if the Govt. buys back these bad loans, they will hire asset companies, asset companies hire us to do the BPO's and to list the REO's. Key is to find which asset companies will get the Govt. contracts if indeed the Govt. will buy back these bad loans.

If you don't want REO/BPO business then become an expert in the field and write your own manual in how to become a BPOster. Like the gal did

http://www.stepbystepbpo.com/?gclid=CJn7y973n5YCFQ8QagodLAcp6g

Not much of a prediction since it happened yesterday....

It has to close under 8000 is what I meant.

I wonder if she is a broker. Her checks are made out directly to her.

It states the check has been "altered" for security reasons. Maybe the amount was one of the alterations

She's not (easy to find these things out). Maybe someone else in Washington state can chime in on if it is legal for salespersons licensees to be paid directly...

Tons of experience too!

Next time i talk to S1 ill ask about this

License Information:
Name: HOWISON, KELLI B
License Type: Real Estate Salesperson
License Number: 88576
License Status: Active
First Issued Date: Jan 20 2006
License Issued: Aug 17 2007
Expiration Date: Sep 16 2009