Any idea where to get a training beside Mrs Murphy????

I was pleased with Margot's training. Was there a problem?

No problem at all but looking for something else beside her.

Has anyone given you any Commmercial BPO/BOVs. I used to do a few every now and then but mostly residential now. I'm not looking for company names, I was asking in general.

Used to get them periodically from the typical suspects, haven't seen one in 18 months. Kind of a bummer, they typically paid well over the residential rate.

Sometimes SMALL CAP mom and pop type commercial properties get lumped in on the residential side with low fees so you have to watch for that.

I focus on commercial pre-foreclosures and short sales as well as the OREO.

I have completed a few BOV's but my experience has been that per their lending requirements banks get full appraisals and environmental reports on their properties.

They do this for a decision on a short sale or selling of the note and also with their foreclosures.

So I haven't seen in mass commercial bpo's but I would like to do more of them.

Ive recently made a stronger transition to commercial bov's.... they took me about 6 plus hours at first. I would not recommend taking them on unless 1. you are in commercial real estate, 2. are willing to put in the time.

yea you could probably easily complete a 5 unit multi family, but once they start sending you bov's for more difficult properties you are going to either royally mess them up, or not be able to complete them.

I have done them on everything from mixed use office and retail buildings, industrial, blockbusters, wendy's, churches, etc.... Its not rocket science by any means, but unless you are willing to put in the time to research like crazy or if you know the market well (average cap rates, vacancy percentages, rents for the area, and general market knowledge etc) they wont be worth your time. Some companies have water downed commercial bpos...which are easier but wont pay more than 85 each....the higher paying companies expect you to know your commercial market inside and out...i wouldnt mess with it unless you are experienced enough. I consider my commercial experience average, and ive ran into qc issues that unless i had my experience i would have been screwed with. (and with my experience i still get them qc'd to where i have to redo them several times)

oh i almost forgot... residential mls wont cut it... you need commercial access and it isnt cheap.

I have found listings are easy and free to come by through many sources. Sales I will get thourgh tax records or by parcel purchase on loopnet. Of the 3 mls systems I belong to for residential, 2 have some limited but decent commercial data.

I contact my title company for sale comps. I just tell them to send me commercial comps for 123 main st, they send me the comps going back 24 months. It makes getting the comps so much easier and faster. Last week I got my sales comps in 30 minutes. Then I have to choose the best ones.

CREOBA and anything by Matthew Mandel

Thanks Avoid the F word.......... but ***********
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