America's Largest Social Network for Default Real Estate Professionals
I just received a listing from BAM. Are you working with them? Can you share a bit of your experience with them?
I am from the Illinois area. Do you know there website? I like to try to sign up. Thanks
When I came on with BAMREO there were some very recent changes on the rehab reimbursements. It is now true that over $500.00 they reimburse direct, DOUBLE CHECK everything do not take my word for it. That was a change last fall 2010.
My sales went OK. So far this is not my favorite REO client. There **were ** some very nice people over there, Brittney and Rachel (last names ommited for obvious reasons!) for example were very helpful for example I recall we talked a bit the first week of Oct 2010 when Res.net was crashing BIG TIME.
It was a little frustrating because at first I felt like the client BAM did not believe me that Res.net was crashing like crazy, one day ALL OF MY TASKS vanished yikes.......
The policies were quite lengthy and not in one place but sent over multiple emails; and different emails seemed to contradict things said previously and also the tasks sometimes contradicted the emails. So here is my advice, read everything extra careful on this one. Ask questions when needed of course. When I asked a few simple questions I was frustrated by big time lack of response from the AM's on my listings. Also, the team structure was quite large there always seemed to be different people handling the files and I could not tell if was moving through the team flow or if I had a totally different AM at one point.
Over all we closed and sold these assets well, quickly and in good percentage of my BPO pricing. I got very little feedback from BAMREO if they were happy with my work, typical : )
My experience with the reimbursements is that they we slower than 60 days, maybe over 90 days. That was very stressful. The conflicting instructions were also arround the reimbursements policies and I paid out over 15k in first few days on two very samll properties with very small commissions.
Check the commision struction, I think it comes out to like 1.75 % or gulp less maybe .. after all the refferals etc and tech fees blah blah blah, the assets I sold for them were like 75 and 95 k.........
Thank you so much for your reply. I appreciate your feed back.