Raul Novales

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Raul Novales posted a blog post

The next wave

I received an interesting call today from one of my lender contacts. The discussion covered when the next wave of REO properties would be really coming to market. I was informed that many of the banks holding REO's will need to change their…

Raul Novales replied to Brenda Sutherland's discussion Investors using Options as offers

"I list properties for Banks and this type of transaction is not allowed. The banks do not accept offers with and or assignee designations in the offer. This type of transaction may work where the seller is not a bank. It sounds like your buyer has…"

Raul Novales replied to Ascharaj (Sunny) Singh's discussion Anyone knows Carrington Mortgage?

"Unless you list a property directly from the bank you will always pay a referral fee to the asset management companies. Asset management companies get paid by those fees and the reason why these companies are so popular is because most banks do not…"

Raul Novales posted a blog post

What do you do after you get approved by an REO Comapny?

This is my first attemp at a blog so I hope this is usefull. I have been approved by a large Asset Management company and the same day my approval was emailed I received 2 BPO assignments. Lenders and Asset Management companies want and need…

Raul Novales left a comment for Maria Navarro

"Hi Maria,
I listed REO properties back in the 90's I just got back in the business and expect to start getting some listings in the next 30 to 60 days. Why do you ask?"

Raul Novales replied to Jonathan's discussion First Preston AM for BofA, Chase & Countywide

"Hello Jon,
I was at the FiveStar Conference and Fannie Mae has First Preston listed on their handout that was given at the meeting.

Fannie Mae has about 18 asset mangement companies on the handout. What area are you in. I am in Orange County…"

Raul Novales left a comment for Raul Novales

"The national vendors came in to vouge in the late 90s and they were bad then and are worse now. I see at least 20 to 25 homes on a weekly basis and most of the homes I see are in bad shape.
The problem with brokers hiring their own vendors is that…"

Raul Novales left a comment for Brad Arnold

"Hello Brad,
Thank you for the heads up. I noticed that most companies are going to national preservation companies and we do not choose who does the work. At the five star conference most lenders were saying that this was the goal. If I have…"

Raul Novales left a comment for Raul Novales

"Hello Stacie,
I am very new to this so I am not sure if your comment is directed at me. I do not know how to email you directly."

Raul Novales commented on Stacie Cunningham's blog post Looking to build a team

"I am interested in joining your REO team. I have tons of experience. I sold REO property from 1985 to 1999."

Raul Novales commented on Stacie Cunningham's blog post I am back from 5 star!!!

"Hello Stacie,
I am in North Orange County. I am a team player and would like to work with you on some of your REO properties. I am a Broker and sold REO properties in the80's and 90's. I have tons of experience. You may contact me and let me know…"

Raul Novales commented on Seb Frey's blog post Talk about stiff competition

"Everybody wants to list REO properties without realizing how much work is involved. I listed and sold REO's from 1985 to 1997 I averaged well over 200 properties under management at any one time. All of my properties were clean, well kept and…"

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Comments

Maria Navarro November 4, 2008 at 3:38pm

You mention you were a listing broker?
Raul Novales September 26, 2008 at 12:52pm

The national vendors came in to vouge in the late 90s and they were bad then and are worse now. I see at least 20 to 25 homes on a weekly basis and most of the homes I see are in bad shape.
The problem with brokers hiring their own vendors is that they have to pay for the work and wait to be reimbursed by the bank and most brokers don't want to carry 70k to100k in receivables for the banks that is why they went this route. I know from personal experience. I will keep you in mind if I get anything.
Brad Arnold September 25, 2008 at 1:10pm

I know that some banks are very dogmatic when it come to using their vendors, but a lot of brokers now are being as dogmatic back to the banks/AM's becasue there vendors do not put in the effort needed to do a complete job. In fact, we were hired by a broker...and completed it today in fact, to go back and re-clean 6 houses because the banks vendor did a horrible job. I know it is hard though for newer reo agents to make waves with banks or AM's, but it will become frustrating when you can not rely on the bank to hire good vendors...
Brad Arnold September 24, 2008 at 8:03pm

Hello Raul...I live in YL as well... I own a preservation company... How active are you with REO's? Please let me know if there is anything that I can do for you! (949) 302-1370 www.aviareo.com
Brad A.
Raul Novales September 24, 2008 at 12:49pm

Hello Stacie,
I am very new to this so I am not sure if your comment is directed at me. I do not know how to email you directly.
Stacie Cunningham September 24, 2008 at 12:44pm

I am currently switching my DBA and will be ready to hire again in a couple weeks. Could you email me direct?? I need help not only w/ REO's but BPO's as well.~Stac
Stacie Cunningham September 24, 2008 at 11:56am

Soooooo.....am I invited to your event?? Where you at 5 star?~Stac

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