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Received an REO Listing. Has anyone had any experience with them? Payments? Response time?

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looks like they are attached to Grubb Ellis commercial company.  Have you been contacted them to list properties if so would you like to share some information privately.  

I was contacted thru RESNET.

I was told from RCS customer support to contact them they are handling all Residential Credit Solutions property now.

How has the asset been going for you Robert?

I ran into an unusual situation. I got a notice from them telling me I would be handling the asset thru SingleSource. OK. That means I have to pay a referral fee. No problem. House is a piece of %&#$*! and is still occupied. So, I have to do the eviction. No problem. So, I have to do a BPO. No Problem, except the property is only worth $30k TOPS. That means Minimum Commission of $1000./$1000. Since I don't practice Dual Agency I get $1000. Oh, did I mention a referral fee to SS. Yeah, $250. So, I am looking at $750. Now, I figure to Meet the Marshall (minimum 6 months from now), put this guys stuff in storage ($3-4,000 Moving & Storage costs), deal with the towns building inspector (house needs everything and is 1 step away from a condemnation), and prepare to sell it, (90-120 days on market), etc, etc, etc. I estimated 12 months dealing with this property, MMR's, BPO's, travel time, overhead and expenses for a property that happens to be 10 miles from my office all for $750...............I asked them to re-assign the listing because it was "just outside of my market area". I can make more money doing BPO's in a weeks time. I wonder just where this business is going???

Sounds like they (Single Source) created another company (e.g., American Destiny) for referral purposes.  See http://pittsburgh.citysearch.com/profile/735138060/canonsburg_pa/ca...

The street address for Catalyst is the same as Single Source.

Your right:0) I love Single Source, but they have been major changes.

 

 

Hey:

I'm running into same issue. I received this asset from Single Source a year ago, at the same time Single Source lost 500 assets to Nationstar. This was the only one remaining with them.

Way over priced, and the asset manager seems to not know what's going on. But Catalyst Asset Management is listed. And well, I'm losing sleep.

There is a phone number for them, do you recommend I call? It's been listed 50 days, and I'm not given any tasks.

Can't get Single Source asset manger to speak to me, but something strange is going on.

"A Friend in Need, Is a Friend indeed" :0)

Bettie

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