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2 monthsago we sent our offices credentials to about 90 BPO'S AND REO'S ,we got the list from REO' RENEGADES (email me i will send link) within a week after filling out the applications we started to get emailed Passwords and user names from about 12 different companies,out of the 12 we got orders right off the bat from two, some of my observations are:
1...when a order comes in they emal you what they want,,,example street sign,street sceen,adress on home ,front frontsidex2, 3 comps with pictures,3 reo's comps, need 48 hours $50:00
thats a typical BPO order you say to your self if i get 3 or 4 a day thats $200 per day ,well the realty is most bpo's companies wont list with you they are already set up with a agent who handles the listing!!!
our first BPO we got two from the same companie, one was 22 miles away and the other was 43 miles away i filled the car with 4 agents to show whats up with these and how to do...
we reset the oddmotner on the car and set off to get it done ,went to the first town home was a wreck , the unit next door was abanaded street scean was low level low rent area we wrote our visual observations down ( best thing we did also the mantra "NO SUCH THING AS TOO MANY PICTURES" was to put in words what we see ..example every drive way old deep oil stains,see a home for rent take pictures and call how much rent $600 the area is very shabby ,,,,i always take a peek inside and give an account of what i see food and cockaroches running all over walls, need painting ,some punch holes in walls,etc
we did both homes and went back to office:
96 miles round trip at $4.04/ gallon ,car does 15 miles to gallon =6 gallons =$24.00 gas
time on the road start to finish............................2,5 hours at $20/hour===$40.00
going through the emailled paper work about 3 pages per BPO and putting in your info ,pulling comps off the mls on one monitor about 2 hours per BPO.......................$20.00x2x4=$80.00
(we have learned since that BPO,s must be done on 2 linked monitors ,,,,go to Circuit City get monitor Grafix card $35.00-75.00 this will alow you to open your mls on one screen ,,and BPO on other now you copy and paste cuts the time to about 40 mins per BPO)
now on the above 2 BPO we was learning but it cost about $144.00 then i found out we would get paid up to 90 days out !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
3 days later we got a email one of the comps had to be replaced and as there was no pictures we had to take new ones more cost !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
now with some 15 under my belt and a gopher picture taker it takes about 40 minutes to put all info in computer ,and gas time etc........is it worth it ? you make up your own mind !
this reminds me of a famous freddy flintstone cartoon where fred has a brain wave making pies which he sells for a dollar and it cost him $1:25 EACH HOW TO GO OUT OF BUSINESS QUICK
eMAIL ME I WILL SEND LINK TO reo renagates WHERE MANY MANY TIPS AND WAYS TO MANAGE REO'S AND BPO'S
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.