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#418834 - 01/22/13 03:59 PM Advise on getting out on our own
SC_REOgirl Offline
Junior Member

Registered: 01/22/13
Posts: 2
Loc: South Carolina
Hi everyone!

My husband and I have been working as a sub-contractor for REO & PP vendors for a little over a year now. We've handled properties from several of the large national companies as well as some smaller, more local ones. My husband has a very good working relationship with the area rep for one of the larger national companies that we service, as he is the 'area manager' for our main vendor. We have 3 crews working with us (my husband's crew, plus 2 others) and I handle all of the office stuff for the crews.

We've been thinking about trying to get going on our own and working directly for the companies ourselves, but don't know the best avenue or what steps to take to get there. We sort of stumbled into this line of work about a year ago when we replied to a CraigsList ad (risky, I know, but it's worked out so far!) and have been going strong since.

We make pretty good money now, but know that the vendor we work for is making a much larger cut. I also know that they're dealing with a lot of the headaches that come with being a vendor and carrying the larger insurances, etc. so I'm not sure if it's worth it to become a vendor or not.

Can anyone give me an idea of what steps we'd need to take to get started? Insurances/certifications/licenses required, how to go about contacting companies, etc.

Any information or insight you can give would be much appreciated!

Thanks!

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#418849 - 01/22/13 05:36 PM Re: Advise on getting out on our own [Re: SC_REOgirl]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
I'm not in that business; but doesn't your current Contract have some sort of covenant not to compete ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#418852 - 01/22/13 05:49 PM Re: Advise on getting out on our own [Re: SC_REOgirl]
SC_REOgirl Offline
Junior Member

Registered: 01/22/13
Posts: 2
Loc: South Carolina
No. The company we're working for was new when we started and did not include that clause in their contract at that time. They have since amended the contract for new sub-contractors, but it was not in ours when we started. We made sure because we were also working with another company at that time.

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