Hi Everyone.I am new to this site and the REO business. 2009 was/is a good year but I need to expand my business into more categories. I've done some research and read several posts on REO Pro and found some useful information; however, I'd like to know if anyone can share some information on how I can jump start in this business. I've done several REO transactions (buyer side) but I want to start doing BPO's and get REO listings. Any comments and opinions will be highly appreciated. Thanks!
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The big banks send you a list asking you how many REO listings you have listed last 12 months(min 40), how big your staff is, and what your long range business plans are etc... Unless you are in an area with no realtors chances that the tycoons have been working with the banks since the late 1980s.... If you want some experience with valuation you need to sign up with A- Z companies, That will take awhile to hear from them. Most are third party or second opinion meaning your name is on the report. There are also sites wanting your money promise you they will position you or advertise for you. There are also companies expect you to complete your task in hours and taking 6 months or never get paid. You also need check with your broker(assuming you are under someone) if he is splitting with you due to E&O insurance. For BPO after splitting with the broker there is just enough dough for the gas assuming they pay you.
Jonathan Chi > Sam ShuehNovember 30, 2009 at 8:14pm
There is a list to sign up for REO's and BPO's on this site. Simply go to each company and register! :-( You will have to get a password management system going (I use Roboforms) to remember all the passwords.
Good luck and stay on top of the curve!
Jonathan Chi > Johnny HuangNovember 30, 2009 at 8:14pm
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Good luck and stay on top of the curve!