Posts Tagged ‘REO videos’
A Quick Fix for Drywall Discoloration in REO Properties for Sale
It is quite common to find discoloration caused by water intrusion in abandoned foreclosure listings. Depending on the price and condition of the property, your client may choose to repair and replace or simply find a more cost-effective solution for getting the home free of potential safety hazards and ready for market. In this video, I'll show you how we creatively handled the situation in a property that had some discoloration in the basement. I should mention that I hear myself using the word "mold" in this video. I am incorrectly saying using this term. The drywall had discoloration and I am NOT a mold expert and could not identify it as discoloration of the drywall. Furthermore, you'll notice that I mention that it is less than 100 contiguous feet, which is the standard by which many companies determine whether or not full "remediation" is necessary. In this case, it was not. Take a look at the end result of our "fix". Also be sure to notice that I check to see if the source of the problem is fixed as well. In this case it was not and I had to report it to my REO Asset Manager and my contractor had to return and get it corrected. "Band Aids" don't work. Double check every time! Hey, a repair like this on a bank owned property isn't always a pretty process but it gets the job done safely and properly!
Performing an REO Eviction
Performing and eviction on one of your REO properties may seem like a daunting task but it's really quite easy. As the broker, your role is primarily to coordinate the arrival of a crew of guys to assist in carrying the furniture and any other belongings to the curb and to assure that things such as the re-key and securing of the property take place. Once the crew is finished with their job, you simply photograph the property, install the sign and lockbox and you're on your way. Watch this video to see how simple the process really is.
SPEAK UP to Your AMs when You are Right!
Something REALLY cool happened with one of my clients this week that I thought I'd quickly share with you. Frankly, it started out as a serious "problem". I have sold REOs for this firm for just about a year now and it's always been, well let's just say, "difficult". I don't mean that it's been hard to sell their properties, but rather, it's been very hard to get "in sync" with this client's expectations. It always seemed that each AM had entirely different "rules" and "procedures" for handling properties than the next AM did-even properties from the SAME SUB-CLIENT.
The REO Life! Got a Drink in My Hand Got My Toes in the Sand...
Once you've assembled the right team you will reap the rewards of having true leverage. I'll let the video speak for itself!
A "SMOKIN'" Reason to Inspect Your REO Properties Regularly
I have never been a fan of people who teach "shortcuts". You know, some people like to paint the "dream" of getting rich in real estate by making things sound effortless and too good to be true. Well, I'm telling you first hand that it's the HARD WORK and attentiveness that you put into your REO business that will quickly propel you into the upper spectrum of income earners in the business. I know so many people who think it's "o.k" to periodically skip inspections on their vacant properties once they have determined that no one is living in the home and there's no personal property remaining. They think that it's not going to matter whether vandalism is reported 7 days after it's discovered or 14 or even 30 days later. I mean, "no one is going to know the difference right?" WRONG! You should always, 1000% of the time, visit your properties as directed by your client. Watch this video and think about what would have happened if I waited for the smoke to clear before reporting this? You think my client might have thought I wasn't on top of my homes if I didn't report THIS for a month? You judge...
