I started out doing just BPOs and then some companies give you listings after you perform a certain amount of BPOs. but they pay slightly less.
BPOs are easy man! I can typically knock one out in 30 minutes.
Be warned about some REO asset companies. They look at you as a walking "Visa" card and sometimes you have to fight to get your money back.
While I still do a few REO listings for the only companies I like to work for, I quit 5 of them, this is the year of short sales, at least in the Phoenix area.
I also make 7% on short sales while most REOs are 5%.
Good luck!
-Mark
Gabriel Perez > Mark Stafford CDPE CNE CSSNJanuary 13, 2010 at 5:43am
Mark what companies in your personal experience do I have to be carefu to don't work for ar make them pay on time?
Gabriel Perez > Mark Stafford CDPE CNE CSSNJanuary 11, 2010 at 1:10pm
Mark I am in Utah How can start doing BPO's in Utah I don't have a clue to whom knock doors, can you tell me how to start? I have a CRS, TCR, NAHREP and SFR certifications
Thanks.
Sam Shueh > Gabriel PerezJanuary 16, 2010 at 8:11pm
Utah, Salt City is the capital for valuation and REOs.... Just google them and apply as many as you can...
remember your door knocking skills? How about honing your skills to get your foot in the door?
There may be, but I'm not aware of it. You may get lucky and get handed a listing without doing a BPO. However, once you have the listing, guess what..........you will have to complete a BPO. BPOs & CMAs are part of the REO business.
I suggest you get acclimated with BPOs because they are one of the keys to pricing your listings correctly. If you don't master the BPO, your properties may sit on the market longer than 30 days meaning you'll have to do lots of MSRs (Monthly Status Reports).
You can limit the number of BPOs you perform by completing them for companies that only assign REOs. If you don't like BPOs, stay away from the BPO mills.
Replies
BPOs are easy man! I can typically knock one out in 30 minutes.
Be warned about some REO asset companies. They look at you as a walking "Visa" card and sometimes you have to fight to get your money back.
While I still do a few REO listings for the only companies I like to work for, I quit 5 of them, this is the year of short sales, at least in the Phoenix area.
I also make 7% on short sales while most REOs are 5%.
Good luck!
-Mark
Thanks.
remember your door knocking skills? How about honing your skills to get your foot in the door?
I suggest you get acclimated with BPOs because they are one of the keys to pricing your listings correctly. If you don't master the BPO, your properties may sit on the market longer than 30 days meaning you'll have to do lots of MSRs (Monthly Status Reports).
You can limit the number of BPOs you perform by completing them for companies that only assign REOs. If you don't like BPOs, stay away from the BPO mills.
-
1
-
2
-
3
of 3 Next