So, what WAS I thinking when I had a call last week from my managing broker, asking if I had any interest in taking on some REO listings? "Sure, no problem."

I'm starting my 3rd year in real estate, have had two succesful years so far and thought this challenge might be interesting. Uh huh.

Here is the situation: an asset manager from a mortgage bank contacted my broker, said he had just been given an additional state (Virginia) and asked if he wanted REO listings for northern Virginia, where we are located. That's how I ended up in the picture, courtesy of my managing broker.

So before I know it, I have 10 REO listings; 5 are occupied, so they've gone to the eviction attorney to handle and I have 5 vacant properties to get ready to list. I am trying not to panic, because that's not really my nature, BUT I am used to being on top of things and this experience is sort of rocking my world at the moment, so I hope I can find some help here and be able to return to sleeping at night. ;-)

I have managed to get them rekeyed and get them winterized. What I think I need, after reading through posts on here, is a property preservation company that can offer "one stop shopping" in terms of rekeying, trash outs, winterization, repairs, painting, etc. (Do I sound as if I have a clue as to what I am doing? Gee, I hope so!)

Am I on the right track? Is the way to go? Is there anyone out there who can recommend any companies who can do trash outs, repairs, etc?

Thanks, guys, in advance for any help. I am going to need it!

Go to REO network there should be a list of co.s on there that do everything from re-keying to trash outs. Or look on the internet, that is where I found a co. I needed one for an area that no other co. would go and I found them right online.

Angie

Thank you so much! There is just so much to learn. I found one company that services the area - Cyprexx. Anyone know anything about them?

They are used by a lot of banks for REO preservation. I think they sub out work to local contractors in the area.

Yes, from what I know they are good. I have seen alot of their signs in my area from their work. Yes, there is alot to learn but just relax and ask your questions...when I got my first one...I felt overwhelmed. My broker does not do any REO's and I am the only one in the office that does so I had to either learn on my own or ask here. You'll do fine,

Angie

Cyprexx will only do the work if the bank contacts them directly (at least in my area).

Here's a tip if you're stuck finding a trash out company - look in the phone book under "hauling". A lot of the good property preservation companies in my area are listed there.

Auburn, thanks - that explains a lot. This is the 2nd company I've tried to contact, only to be met with total confusion. Daggone! I was hoping there was a "one stop shop" out there to do it all rather than coordinate every piece of it. And that's what I am stuck on - trash out! Thanks!!!

Susan-
We are also in Northern Virginia- The only property preservation team we know comes from Maryland. They are so overloaded it has gotten ridiculous. Wish I could refer you to someone, but they just aren't out there. Part of the reason for that is that up until the end of the summer last year Virginia was ranked 48th in the country for number of foreclosures. There was not a great need for these companies until recently. Many agents have used companies like " Got Junk" for trashouts in our area. We do not, but it has been done.

Cyprexx will not talk to us as agents here in Northern Virginia.

Thanks, A&M...I have spent a couple of very frustrating days trying to figure this out and am very glad to at least have you confirm that it isn't ME! LOL I was beginning to wonder if I was just totally off-base.

Sounds as if there is a business opportunity in northern Virginia!!!

Safeguard is another property preservation company serving the DC Metro Area. I've never used them but saw one of the stickers when I recently did an interior BPO of an REO.

http://www.safeguardproperties.com/

Has anyone here ventured into providing Property Preservation Services?...this seems like it could be a nice little niche market in high demand....it would be so easy to do..... rekey, trash-out, winterize, cleanup, lawn maintenance, etc... have you seen the prices some of these companies mentioned charge? These are not cheap services! I've been strongly considering approaching this angle within the REO/BPO business. I've been doing BPO's for about 2.5 years and have been handling REO listings for approximately 6 months now....I am looking to diversify myself a little and was searching for some opinions/experiences from the MOB!!

A lot of the Preseration companies want you to be a lisenced contractor with 2 years experience as well as general liability, workers comp and e&o insurance. Plus references for other you work for before they send you even 1 order.

Plus - mitch - its not easy money. There are alot of cost involved especially the dumping fees on a clean out, supplies, locks and hired help.

I would be alittle careful saying...it would be so easy...I live in a semi rural area and detrashing a junk yard is not EASY

Trashouts are difficult in many instances. Old computers, batteries, tires, appliances, chemicals, paint, animal carcasses, blood, used syringes, medicines, dog, animal, and human dung, dirty bandages, etc. all present their own set of problems. Dumnping fees for some of tghe items above are tremendously high.

Most of the trashout people I know earn all they get and then some.

I've seen their work first hand and I use a good reliable company. Some of the stuff they have to do I wouldn't do for a million dollars. My last listing, "the dog" I refered to in another topic, had 2 toilets overflowing with poo that they had to remove. I don't know how they do it.

Plus this home hasn't had electric turned on yet and is boarded. So the home is completely dark and cold like an ice box (it snowed yesterday and its between 5-15 degrees out). Working in freezing tempratures, dirty conditions and then when its all said and done your paying a ton to the land fill to dump it. Some lenders require reciepts that you legally dumped, so I've see them pay a good portion of their money out to the landfill and I've got copies of their reciepts. Not something I ever want to do.

We very seriously considered starting a property preservation company, and in the end, it wouldn't be lucrative enough for us. If we were able to do the work ourselves, it might be possible, but I'm no handywoman and as handy as Matt is, he won't deal with fecal matter of any kind... so we would be contracting the work out, cutting profit by huge amounts.

A note on Safeguard here in Northern Virginia- they have called US asking who we use because they lost their big servicer here. Fact is, if you do not already have a good working relationship with one of these companies, you will not be a priority to them, and it will hurt your repeat REO business with companies here. They want homes rekeyed, winterized, secured, and in some cases fully trashed out within 48 hours. Build those relationships now, you will need them. Our foreclosure market has been dead for many many years. The rebirth has only begun!

If you are signed up and/or listed on websites like REONetwork and others, many times these types of vendors will contact YOU looking for business! That is how we have found many of our vendors. They either mail or email their information out to REO agents. You can also ask other REO agents who they use. Most agents won't mind telling you who they use...the only ones who might are the "Uber" agents who sell 100+ a year, and they may be using their vendors full-time already. But the smaller agents usually only use their vendors sporadically so they shouldn't care.

Plus, each agent has at least 3 vendors they use, if not more. All banks want at least 2 quotes for jobs....and if the cost is high, they will require 3 quotes. So you need to find a couple in order to do this anyway.

Dave-
Good point about having multiple companies. We are getting anywhere from 1 to 4 properties a week, and our property preservation guys are maxed out and working 14-18 hour days. We do not share their info, because we can't afford to. I promise no one calls us offering their services. No one wants to do these preservation jobs for what companies are willing to pay. There was not a fighting need for these companies until the last 6 months, and nobody is stepping up to meet the need. I can't say I blame them. Plumbers here get paid close to $400 for a winterization. Property preservatuon companies do it for $95. Not much incentive to do it, so people don't.

I wish property preservation companies WOULD call us.. would make life easier!

Can anyone provide a property preservation contact for the Houston area. I have called many places and left messages, no one has called back except one person who was eager to get there to give me an estimate, now all of a sudden, he wont do the job. He wont tell me why either. I have not seen the entire interior of the house, only what I can see from the windows. Its partially boarded up. This is my first REO listing and I dont want to screw it up. I got a quote from Cyprexx which there price doubled my allowable costs. I have until Monday to get it done and I am not having any luck.

Try Maxim Enterprises...if you type Maxim Property Preservation, they should come up.

Angie

I know it says they only do a few states but the last time I talked to them, they said they have started doing all states.

Angie

Ill do the work if your in TEXAS! (toots my own horn) Ha ha!

We are a Property Preservation company based in North Central Florida. We cover the North half of Florida. If you need any services please contact us. We will be glad to try to help out all realtors or brokers. Thank you!


Suncoast Property Services
suncoastpropertyservices@cox.net
352-427-2701

Susan,

Call a few local REO agents. They should give you some contacts. If anyone called me and asked who I use I'd tell them. I have a "one call contractor" that does it all from lock changes to yard starts and quick cleans.

You need at least one reliable source that handles it all. My guy is draining a pool for me right now. Gotta love it.

Welcome to being slammed with REO's. I am in the same boat and trying to get my head up above water.

Vee Star Building and Remodeling
443-375-8617
Servicing Maryland, Pennsylvania, Virginia, West Virginia, DC, and Delaware. If this helps

Anybody in East Tennessee?

We are a Property Preservation company in East Central Florida. If you are in need of any services please contact us and we will handle your issues.

Thank you
All Premium Services llc
info@allpremiumservices.com
www.allpremiumservices.com

We have started a property preservation company in Central Florida and can meet your needs here!
Also, if you looking to start property preservation business for yourself in your area, you can get info at www.propertypreservationbusiness.com

John
www.reohomemaintenance.com

Thanks for the property preservation info:)


If anyone needs property clean out (hauling and cleaning,lawn maint, touch up-paint,virtually whatever it takes to get the property on the market) in the S.F. Bay Area Tri-Valley, Tri-City, Eastbay, Contra Costa. We are lic realtors that started a clean out business for Reo Agents we know exactly what you need to prep the property ready to go on the market.
www.reoresourceteam.com

ReoResourceTeam ~ aren't you afraid of a conflict of interest by being a licensed agent AND a property preservation vendor? I've always been told this is a no-no.

Or is it okay as long as you don't subcontract work on your own listings? Just curious.

Linda

Hi SusanScuba,

We are a property preservation company in Virginia. We do pretty much everything needed to get a property ready to list. What area of Virginia are you needing to be covered?

I can't imagine a situation where property preservation duties and the agency duties of an agent create a conflict if they are performed on different properties. Also, if the seller oks the listing agent doing the preservation work (in writing or email notes), it should not present a problem.

I currently have a licensed and insured rubbish removal and clean-out business in Northern New Jersey.
Our services include: Window boarding, all types of debris removal, Lawn Cutting and carpet removal.
Rich Bozzone
Bozzone Property Maintenance, LLC
http://bozzonepropertymaint.com

This forum is not to be used as an advertising service!

Well the OP was asking for a company to service properties in No.VA.

Nick

Nicholas Andraka
REO Services
serving Maryland since 1993
HTTP://reoservicesofmaryland.com

Nick ~

I'd be careful defending someone who was told not to advertise. It appears you're attempting to do the same, just in a slightly different manner. I also wouldn't be putting down other PP vendors because they have a question, as you did in another post. It appears you were just trying to make yourself look better.

BTW ~ I think you'd better go take a look at your website. It's all screwed up and there are a few misspelled words.

Linda

Linda

Linda

Why did you attack Nickolas? You attached him personally and I think you were wrong, wrong, wrong. Reading prior posts it appears that you are doing exactly what you have accused him of. I notice you are sure to post all your contact information, web sites etc. Nearly every post you make it is all about how great you are and how good of a job you do. And what is up with your avatar? What are you trying to say there? My wife walked in while I was on the site and seen it and I had to prove that this was a Real Estate Forum and not something else.

I notice that when someone has a low number of posts they get jumped on FAST. This is a great forum and everyone was a Newbie at one time.

4real ~

That was not an attack on Nicklaus. I didn't want to see him end up getting himself in trouble and he was heading in that direction with 2 out of 3 of his posts yesterday.

His very first post was a derrogatory comment to another preservation startup that was an attempt to put him down when he asked about costs. If you look at the post, you'll understand.

The poor guy didn't ask about doing the work, he asked about costs. He was told by Nicklaus that "Personally, either you you know how to do the work or you don't. Safeguard is not going to "teach" you how to perform the work."

His website IS a mess. If you go take a look at it, you'll see that his company name is overlapping his phone number. He has one page so he has to make the best use of it. Typos don't help either. My comment was NOT an attempt to put him down.

If you knew how many times I've sent a PM to a new member to offer startup information they're requesting that I can't post publicly in the forum, you'd understand why I put it in my response. Do you know how long it takes most of them to even realize they HAVE a message? His site could have gone like that for 2 weeks and no one would have been able to call him. When they put their e-mail address in their profiles, I contact them directly.

And what's wrong with a photo of me working? All the photos that have been taken of me are either from the side or the back. This one is of me sweeping. The last one was of me cleaning a pool. Same thing, shorts & tank top and almost from the same angle. That's how I work when the weather's good, same with my crew. It was time for the holiday photo to come down and I just picked one that was handy. I don't sit in the front of the camera for glam shots.

Regarding my contact info, it's all in my signature line at my profile and shows up every time I post. So I'm not sure what your comment regarding my info is all about.

4real, do I know you? You made reference to my new website in another thread and I'm curious because very few people know what I'm doing. But if you know anything about me, then you know I'm not here to flame. I'm here to help other vendors who have legitimate questions. And you probably know that it upsets me when I see someone get picked on, especially in a new member's first post.

Perhaps you were responding to the negativity in the forum lately. There's been a few instances of it. This is not one of them.

Linda

Linda,
Lets be honest, Anyone posting here is either:
Trying to figure out how to get into this business, or
create exposure by posting.(advertising)

As far as what I told the person asking about safeguard, maybe it was harsh, but it was spot on true, either you know what you are doing, or you don't. I will tone it down in the future :)

As far as the web site, I'll have to check agian, but I do not see any over lapping ?
PM me,
thanks, Nick

Nicholas Andraka
REO Services
serving Maryland since 1993
HTTP://reoservicesofmaryland.com

Nick ~ I already PM'd you. Maybe you haven't seen it yet. Look for the flashing envelope at "My Stuff".

You're absolutely right on the first two counts but there are other reasons why people post.

Those who don't have experience but are motivated enough will read everything they can find to help them get going. I learn something new here every day. I'm not new but still reading everything I can get my hands on.

Those with experience will usually contribute to the forum. There are those who advertise shamelessly, which is against the rules. But 90% of the members here will offer information because they're genuinely interested in helping others.

Another reason people post here is for the interaction with others in the same or related fields. It's a social network, too, and I have no doubt that many alliances & good contacts have been made here.

I'm sorry if my post sounded harsh. Perhaps I should have taken more time writing it. But, yes, your website does have a problem. I looked at http://reoservicesofmaryland.com and the company name hides your phone number.

Linda

Nick ~

I got your PM and sent another one back. I printed your website to a PDF so you could see what I'm talking about.

I don't see where I can upload it here so send me your e-mail address and I'll send it to you directly.

Linda

I have good luck using companies that say "services" in the title. A local landscaper has now branched out to property preservation since there are opportunities for $$$. He'll do anything that doesn't require a license in our area.

It may be a matter of just calling around to different places with an inquiry, an entreprenuer will run with the possibilities.

Need to check with your state,
Most of the states require a Lic to work on a residential property, lawn care may be an exception.
But in MD - lockchanging, boarding, plumbing (winterizing) all require a MHIC lic.
BTW - in MD they prosecute the customer and the hack.
Nick
http/::reoservicesofmaryland.com

Hi I just wanted to say I find this site verry informative,this is myfirst posting .DUMPING my company is small just 3 -2 man crews doing preservation in Riverside & surrounding counties,I have gone to using a Lg.roll off dumpster right on my property,when its full they change it out.The savings are great as compared to fuel & labor costs,plus I dont hassle with guessing at daily petty cash for two of the crews. My customers accept copys of monthly land fill bills. WE NEED TO STOP UNLAWFULL DUMPING its hurting our industry

Susan,

My advise from a preservation point of view and a REO agents husband is to try to find a local vendor you will get much better services from them than you will from a National Company. I would call other local REO agents and ask who they are using, most of them should be helpful. My wife gets so frustrated when some of the National Companies have done the initials on her properties because of there poor work and lack of cleaning properly.

Hello, I just signed up today and noticed your problem. Tell me what area specifically you need service in and what services you need right now and I will try to find some help for you. I own a preservation company that services the Southeast, specializing in Tennessee and Georgia but I have met alot of contacts. You can email me direct if you like. sherry@nhirealestate.com

Susan,

There does seem to be a real shortage of people providing reliable service in this area. Enough to convince us to get serious about creating a group to specifically address these needs for DC, MD, VA, and WV. I would be intrested in your thoughts on what your needs are. If you could magically whip up a "One stop shop" what would it look like.

Absolute Property Preservation, We service Tennessee & Georgia.

Visit our website for contact info: http://absolutepropertypreservationtennessee.com/home

Pass us on when you get a call for our area's.

Thank You.

Did Scuba ever find a company? It does seem like expanding an established preservation company would be a good idea.

hello everyone, I am trying to start a new company here in North Alabama. we are going to be the "one stop shop" sort of company, so if anyone needs anything give me a call (256) 558-6991

I've just joined this forum and am excited to here there is work out there. I am in NJ looking to expand. We do trashouts and maintenance. You can find us on the web at www.ajstrashoutandmaintenance.com

973-519-7718

Reiterating what Mr. Foreclosure has stated for the benefit of new PP members.

Responding to discussion posts with your advertising is NOT allowed. If you feel compelled to contact to the original poster with your services, you can PM them. Otherwise, just put your info in your signature line once you're allowed to and everyone will automatically have it when you post.

Welcome to the forum.

Linda

We have Preservation crews in Virgina if you need help.

Thanks!

We are in Virginia and very experienced with trash outs, cleaning, maintenance, etc. Although we are in the Hampton Roads area, we've done work in Richmond, Woodbridge, Fredericksburg, Ashland, etc. Need help here or there..let me know. Great rates, great service!

Thanks,
Rick Weiler
757 589 0130
rickw9356@mac.com

Does anybody read the forum rules before they post anymore? Come on Rick, you're not supposed to advertise here. Did you read any of the other posts on this thread? Plus, she posted this back in February. Do you really think she's still reading this? I don't know if I'd ever hire a company that's reduced its marketing to trolling forums.

I am experienced in the home inspection area .. I have done vacant and occupied home pictures , lawn maintance,winterizations,lock changes, roof repairs and much more. i have my own vehicle and camera also a computer with printer and fax available. i can submit work promtly to you in a timely manner through email or fax if needed. i am located in Akron ,Ohio and can travel within the ohio areas of Youngstown .Mansfield.Canton, Akron, Cleveland and beyond. i would be interested in joining the team



please if any one could point me in the right direction on geting started in this feild i would be greatfull. i was doing this for my brother inlaw for over 5 years. now that is will not pay no more i have to try and do this on my own so any info will help and be appreciated thank you

Somebody PLEEEEEEEEEEEEEZ close this topic.

JSWish04 ~ are you going to copy & paste this every 15 minutes? You've got 4 posts and they're all identical.

By the time you get the opportunity to post freely, you may be banned if you continue to post the same thing over and over.

Linda

sorry i did not see that i did that i am new to this so sorry for all the post

lolz

This is a great post for anyone interested in Property Preservation.

Chris S.
Orlando, Fl
www.WeCleanUpForeclosures.com

Hi Susan,

We could help, we are located in Maryland.

www.absolutepropertysolutionsllc.com

240-472-9618