Does anyone have any experience working directly with a property management company after they foreclosure on there units after getting tired on waiting for the banks to do it? All these properties are underwater(BIG TIME) and my friend, the president, asked me to take over the whole process from negotating with banks to settle debt to eviction of occupiants to listing and reselling them at market value. I have experience with short sales & REO's but this seems a bit much.
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If you think it is a waste of time, you are missing the boat. Turn around the HOA, be at the meetings, and tell them what they are doing is lowering the value of all there units. Solving their problems and you can quite simply add value to the project the homeowners and put them on the right track. If done right you will be viewed as the go to agent for that project. HOA's are collective ownership. Many simply can not do it on their own.
Did you know what you were doing the first day you got your real estate license?
Did you know how to do a BPO or an REO when you first started working them?
I think NO. You will learn! Why? Because you are a professional and you will find out what it takes to get the job done.
In todays market, you take every opportunity you can to make money.
I say you embrace this chance! Once you figure it out, there are tons of property management companies you can go to.
You will become the ONLY one that knows what to do. It will be a niche only you know.
Good luck to you, what ever your decision is!!!