REO Pro - Real Estate Default Professionals

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According to a recent article in Managing REO-

With the passage of the Protecting Tenant at Foreclosure Act, the expansion-minded TenantAccess is increasing its capacity to service all of the United States.
The company, a subsidiary of FirstService Corp., recently hired 348 property managers to be in charge of maintaining buildings, paying bills, collecting rents and communicating with tenants. As a vendor to property owners, including government agencies, TA’s forte is rehabilitating, leasing and managing homes.
“We originally started with 5,000 potential managers and have selected 7% from this group,” said Paul Hayman, president of Austin, Texas-based firm.
“Although we have selected the bulk of our property managers, we anticipate a continuous process of selection as we meet the expanding needs of our clients to provide rental and property management services throughout the U.S.”

Just completed second assignment from them, and have been told they just secured a new client, and will hit the ground running in January. Still not sure of all the in's & out's. So far tenants have been Section 8 subsidized.
Assignment #1, meet with the tenant and she tells me "Oh by the way I was already offered $3500 to move, and I'll be out by January 10th" She also wanted to know if she could get more. First of all her portion of the rent is $135/month, secondly the other unit is still occupied by the previous owner. I'm thinking $3500 CFK's??? It's a bonanza for someone paying $135. I would've offered $900. Sec 8 would've relocated her & paid expenses anyway.

Anyone else receiving assignments yet?

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Comment by Johnny Huang on December 29, 2009 at 3:16pm
2 thumbs up on payment!
Comment by Billie Dalessio on December 29, 2009 at 3:09pm
website is I don't know if there is anywhere to sign up, but if not go to contact us tab & send an email.They want agents that have REO and property management experience. As a side note they have already paid initial inspection fees, in less than 3 weeks- so they are quick.
Comment by Gina on December 28, 2009 at 6:03pm
What is their website?
Comment by Ryan Whitney, RDCPro, CDPE, SFR on December 19, 2009 at 11:08am
I have been approved but have not received an assignment yet. I did get a call this week asking if I could give them a name of an agent for an area that was outside my coverage area. I gave them the referral and they said the will send assignments my way once they started to receive them. The rep also informed me that they just had 2 large clients sign on and he said they should have a ton of assignments in 2010.
Comment by Jonathan on December 18, 2009 at 10:47pm

I've got one assigment so far and we are looking foward to more. I would love to talk to you about my experience. I belive this is going to be a really awsome program once the kinks are worked out, and it will indeed be pan out. Your on the ground floor of something Great!!!
Comment by Billie Dalessio on December 18, 2009 at 7:01pm
Johnny-good point, checked that out earlier.
MeLisa- in the RFP they asked how much you wanted to get paid, and I think it does vary according to where you're located. I know Fannie pays more per unit.
Comment by MeLisa Minter on December 18, 2009 at 3:14pm
How much are they paying for their assignments or does it vary?
Comment by Johnny Huang on December 18, 2009 at 11:33am
To add...check your insurance policy to cover property management duties, just in case stuff happens.
Comment by Susan Cook, RDCPro, CDPE, SFR on December 18, 2009 at 10:15am
My team and another one just sent our final application for our brokerage. I believe that if you are doing bpo's, short sales and hopefully REO in this market, you should apply to this company. In doing bpo's and Titanium assignments in our region I have realized this is a HUGE problem. It could lead to listings or not but it will certainly be another stream of income for my team.
Comment by Billie Dalessio on December 18, 2009 at 8:07am
Dorit- both assignments in past 10 days, so I don't know how quickly they will pay. Must say, so far they are easy to work for, however a nice improvement would be a portal to download docs & photos to.

Johnny- Think they're starting in the East and working West. You'll probably hear something in January.

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