Thanks for your quick response. Have you been in the REO business for 5 1/2 years? Or Real Estate in general? I have been in this business for 10 years. I’ve brokered loans for about 3 years or so as well. I am kicking myself for not jumping on the REO bandwagon sooner. But, I am where I am supposed to be right now. I’ve been a Broker for 3 years. I have 5 agents under me. I started out of my home as well and still work 99.9% from my home. I have a virtual office in an Executive Suite. It is very cost effective. It gives me a mailing address, access to a beautiful conference room, and there is a receptionist there. I can meet clients in the lobby and it gives a very professional appearance. It’s been working great. I also have a pretty good phone system. Also, very cost effective, it has an 877 area code and all of my agents can have extentions that ring to their cell phones, it includes a fax and a lot of bell and whistles. I spend less than 150.00 per month for both. I was not ready for the big expense of a commercial space. I am glad I followed my instincts. This virtual office gives me the look of a large commercial space for a fraction of the cost.
If I can or should I say when I get this REO aspect off the ground, I could get my agents involved on a larger scale and possibly bring on more. I met a property preservation company on this forum which is great! We have a loan division in place; we can do FHA, etc. The competition is so great out here.
I would love to give you my personal email. firstname.lastname@example.org I would like to ask you some questions off-line when you have the time.
Hey, your mom has a great name! Tell her I said hello.
Peace and Blessings
I always read your comments on the bpo yahoo emails. They have always been helpful! Glad to see you over here as well. I finally landed a couple of REO listing and closed them. Now, I am waiting for more, hoping to get some insite from this forum. I think it's great that you work with your mom!
Hey Tamisha! Hope all is well in ILL.
Can you recommend a few REO Companies to get affiliated with and/or a few contacts? I feel more comfortable with the REO process (even though I still & prob will cont to have questions here & there) but would like to get more work (Don't We All) ;o)... I've got a lot of info from Citi but need a contact there to send my package to as well. Any help would be appreciated.
No problem....let me know if you have any other questions. Theses forums are great to be able to communicate with our collegues and help each other out without a competitive attitude. Just wonderful!!!
Thanks for info! I finally did talk to the tenant briefly over the phone... once she realized who I was & what I was doing... she stated she had an emergency & would call me back... I'm still waiting for that phone call. Anyway, I thought that I would have to do the eviction... HUGE relief that the AM does all that. THANKS AGAIN!
Hi Tamishia! I read that you get a lot of work from Ocwen & have a quick question for you. First of all I went from not having a single REO contact & no REO experience to just accepting my 2nd Ocwen REO!!! My question is how do you handle evicting a Tenant of an owner? The owner is nowhere to be found and the tenant won't respond to knocks on the door or correspondence... HELP???