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Any one know about this new company? They are trying to get me to pay 400.00 to sign up with their company. They have a portal and have assigned 2 properties but the 400 is taken over the phone! This doesn't sound right but they are saying that they have properties. What do you all think?
I figured that out...... must have been a "senior" moment.
We do pay for REO Network and RESNET. more and more companies are requiring fees to be paid whenever you use the website.
So how long have you been paying a middleman?
Green River Capital (GRC) is one of the worst out there with this scam. Not only do the so called "asset managers" skim $2 off every BPO or Inspection order, but they link up with Realty Pilot for their software platform. Realty Pilot charges a monthly fee like RESNET, Equator (or whatever they are calling themselves this year) and some others out there. BPO companies charge their clients over $100 for each BPO order and they are paying you peanuts to do the work. And that's OK if you are doing 200 or 300 orders a month. Because that rounds up to a nice amount of chump change when you have nothing else going on. But anyway, what it comes down to is that these BPO companies should be paying the technology fees. Not you. But you see, these BPO companies got smart and are passing the buck on you and you are foolish enough to pay the technology fees that they should be actually paying.
Sit down and look at the numbers. Look at your monthly and annual income from BPOs and all your expenses it's costing you to do those BPOs. So unless you are turning 200 to 300 orders a month, you are making minimum wage or less. You are getting maybe $35 or $40 a BPO (BPO companies cut what they will pay for BPO orders because they know agents are hard up for work and are willing to work for less money). You are paying monthly technology fees to 3 to 5 companies. You have to have a car to drive to the properties. You have to put gas in that car. You have to pay car insurance. You have to have clothes. I like to wear professional but comfortable clothes when I got out to take my BPO pics. Just in case you come in contact with a homeowner or neighbor. There's paper, pencil, calculator and the list goes on. If you work out of a home office, then you have some utility costs you have to factor in. And the biggest expense is what do you value your time at.
Like I said, look at your income and expenses and determine if you would be better off with a minimum wage job. Stop paying all these companies who claim they have work for you or can get you work and all these middlemen (technology companies). Work directly with BPO companies who pay a fair price for their orders or move on. Better yet, get back to doing real estate and make some REAL money.
I did manage to get into realty pilot for free. Green River pays the fees. although they skim off the top. They do pay quickly every month like clockwork. that being said they are one of the worst companies to work for. Unfortunately more and more of them are charging fees to do work and many reo companies are charging a technology when you close a property. You can say not but the business is not out there as much. Also, I sell nearly 100 properties a year so I am not sure why you would insult me and imply that I am not doing real estate.
Is this REO Professional? I got a call today saying I was referred to them and that they had 2 properties in my town, gave me the addresses and quizzed my experience, said I had to do a BPO on their portal which resembled Res.Net, etc... in summary, it sounded legit on the surface, but, then, he said there was a one-time $400 technology fee involved and asked me if I was at a computer.... even though I was, quickly smelling a scam, I said I was driving and it would take me a couple of hours to be at my desk... he asked for me to call him back then.... and here I am, sharing it with you....
yes, pretty stupid, I do pay for sites like RESNET so I thought nothing of it, but this is a huge scam and I am considering filing a complaint with the local attorney general. I won't get my money back but this was a learning experience. The name sounded similar to this site so I thought it was more of a professional courtesy. I won't do that again. Normally I am a little sharper, but this threw me for a loop. Also, the man on the phone became pretty strange when I told him that I already belonged to his network and then hung up on me.
This happened to us too just couple of months ago, and after we did the drive by and called the AM, he was in a meeting. we left numerous messages, but no response. He was always in a meeting.
I think the local attorney general should be notified or at least try to find out who the lien holders are on the properties so they can be notified of this company's tactics.