Posts Tagged ‘Face’
Haha...I'm BACK!...and You Better "Listen Up"!
Hello again REO Rockstars! As many of you know, I have been a regular road warrior lately, going cross country for weeks at a time to get knee-deep in the trenches with the big shots of the REO world. Accept my apology for the delay in new posts, but trust me, you won't think I owe you anything-nada-when you soak in all of the knowledge that I've gained to share with all of you in the next few months. In case you haven't noticed, things are changing quite a bit in our industry. Banks are telling us of MONSTROUS foreclosure numbers that are looming like giant storm clouds ready to crash down on just about every major city in the country. While many people have been listening to the b.s. being spewed out by the media that "times are getting better", I'm here to tell you that we're merely in the eye of the foreclosure storm-and a TERRIFYING storm it's gonna be.....that is, except for us REO guys!
Who's Been Sleeping in MY REO? - Spooky!
No matter how "cute" a little house is or how "safe" a neighborhood may appear to be-NEVER assume that ANY REO is secure from vandals and squatters. Come with me as I walk you through one of my properties that we had recently secured and I'll show you how to spot the tell tale signs that someone has been coming and going......we'll start in the dark and dingy basement where NO REO agent wants to go! Funny story about dark basement: Recently a buddy of mine and fellow REO agent was taking pictures in a dark basement WITHOUT his flashlight. He was walking room to room and just snapping pics, relying on the flash to guide him along. Man did he get a surprise! After sticking his camera in a totally black room and snapping a quick shot, he looked at the preview screen and saw....a FACE! Haha! I don't think he's EVER moved so fast to get out of a house! Moral of the story: NEVER be too careful and ALWAYS bring your flashlight! He would have been at a HUGE disadvantage had that squatter decided to act violently.
The #1 Safety Tip to ALWAYS Use When Entering an REO
I am ALWAYS concerned about entering an REO property, even in nice neighborhoods. The fact is that so many foreclosures are popping up that squatters and lowlifes are figuring out how to capitalize on the vacant nature of REOs (one of MY properties was actually featured on the 5:00 news the other day. THIS vagrant LOSER had re-keyed the property and was renting it out to unsuspecting tenants who we had to throw out on the street (NOT a good situation). Would you feel better if you knew how to make a potentially dangerous squatter or disgruntled former owner or tenant leave the home before you entered or would you like to end up with an image of a scowling face looking back at you in your camera while you're down in the unlit basement?
CHEATING on Utilities..You LOSE!
OK so "floating" costs for REOs can be REALLY expensive, but it is a necessary evil and you need to be able to handle your responsibilities or you need to get out before you are FORCED out! I know far too many brokers who wait until contract time before they get their utilities up and running on their properties, rather than activating them at the time of listing, as most clients require.Sounds like a slick "cost avoidance" move that's healthy for your biz cash flow huh?...WRONG! Here's what happens:
