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#268013 - 01/07/09 01:17 PM Leads
MoREO Services Offline
Member

Registered: 01/07/09
Posts: 15
Loc: Saint Louis Missouri
Who are the prospects? As a small PP company who should I be calling to get more business.

I have read most of the threads here but am still confused who the potential prospects are.

I have heard
1. Banks, local and national
2. National M&M's
3. Investors(Rental unit cleaning after move out)
4. Real Estate Agents

From what I understand the national M&M's are kinda hard to work with. The national banks seem hard to work with and there must be lots of competition for their biz which means less margins. We dont want to get into a price war and would rather work with small groups so the nationals might be out.

Then we have local banks....Are local banks going to have enough properties to be worth selling to? Who in the local banks should we be speaking to?

Next is Investors....how do I find them? How do they work?

Last but not least is Real Estate agents. How does this work? Do the banks give them a budget to fix the property or are they paying out of there pockets? How can I find the realtors who might need my services?

What about other resource for finding potential clients like the auctions, flyers at "Bank Owned" home, CraigsList etc.

Any help would be great

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#268014 - 01/07/09 01:39 PM Re: Leads [Re: MoREO Services]
4Real Offline
Member

Registered: 01/07/09
Posts: 36
Loc: USA
Get Ready to get bashed MoREO Services. I am new to the forum but already know from reading some replies that asking for client contact is a "NO NO".

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#268016 - 01/07/09 02:01 PM Re: Leads [Re: 4Real]
allREOpreserv Offline
Veteran Member

Registered: 09/08/07
Posts: 704
Loc: Nationwide
MoREO:

4Real is right. No one is going to give you anything. You'll have to do the research just like the rest of us. A lot of the answers are already here at the forum. They're just not going to spell it out for you.

It takes awhile to establish your presence in the industry. If you haven't done property preservation before, call a local PP company and see if they'll train or mentor you.

Links to the guidelines and cost allowances are already in other threads. Get them, read them, and understand how to operate within them.

Then find the information regarding the types of insurances you need and start applying to the asset management companies. They're excellent for cutting your teeth on and getting your feet wet. While you're working for them, look around and see where else your services fit in.

If you hear a term that is unfamiliar to you, search the internet until you are satisfied you understand it. When you find what you're looking for, you'll notice there will be other things to look up. Continue doing that until you're satisfied you've got the gist of it. Then go for it.

How you find people to work for is up to you. I've done a tremendous amount of research and anyone else who's still operating has done the same thing.

Good luck in your new venture.

Linda
_________________________
Linda Hall, Owner
All REO Preservation Services
A+ Property Preservation Group [Nationwide]
allreo.mailbox@gmail.com

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