Real Estate Investor · Medford, OK · Member since 2008 · 5 posts · 0 votes
[b]Hello group my name is Trevi S. Edwards and i started a property preservation and management business after bird dogging for a few investors for a while and i need all the best info on REO properties and Foreclosures, so thats why i have chose to be a member here, i need all the tips i can get :cool:
Contractor · Jefferson City, MO · Member since 2010 · 30 posts · 8 votes
16y
Hows that property preservation and management business working out for you?
We have done a few trash-out/board-ups/repairs for REO Realtors but the money that HUD was paying did not make it worth our while.
Real Estate Investor · Medford, OK · Member since 2008 · 5 posts · 0 votes
16y
Not bad.Keeps me busy and i do alot of other field services for realtors, gotta stay solvent in this day and time. We do it all, i really use my p&p to keep me active within the industry,my real $$ comes from grass cuts and sort of helping with paperwork. .doesn't hurt as much, because i set up my mom and aunt to run my Va branch. .I just never give up..apologize for the typing, Im on my phone.
Contractor · Jefferson City, MO · Member since 2010 · 30 posts · 8 votes
16y
Here is a link you may find useful if you don't already have it http://www.hud.gov/offices/hsg/sfh/reo/pandpsched/
By the way I have a buddy on Remodel Crazy Forum and Contractor Talk Forum from Wichita Kansas. His name is Brock Patterson and owns Blue Ribbon Construction. I am pretty sure he doesn't fool with Property Preservation but he is from your area none the less.
Property Manager · 950 Peninsula Corporate Cir 1013 Boca Raton, FL 33487 United States · Member since 2021 · 3 posts · 0 votes
4y
Catching a problem and fixing it when it's small can save you money (and headaches) down the road. As a homeowner or property manager, inspect your units regularly for these issues and deal with them before they become a huge expense.
1. Check for leaks
Detecting and fixing a water leak early means preventing the possibility of mold growth or wall and ceiling damage. Check for leaks in windows, doors, sinks, showers, toilets, and water heaters in your units. Look for pockets of water on the walls and ceiling, especially after rainstorms or when the snow begins to melt.
2. Undo showers and seal cracks in tile grout
Regular use of bathroom and kitchen surfaces causes cracks and loosening of tiles. Resealing these areas around the tub, sink, and tiles will prevent water from getting in and damaging walls and floors.
3. Update the wiring
Keep your building's electrical system secure and up-to-date to prevent short circuits, blackouts or electrical fires. Hire a contractor or maintenance person to help you routinely inspect your system.
4. Repaint your property
Don't expect the exterior of your building to peel off or the interior walls to be damaged and filthy. A fresh coat of paint can help extend the life of your building and increase the marketability of your unit. A freshly painted home can also be a renovation incentive and a tax-deductible expense.
5. Change the air filters
Neglecting your air ducts until they are clogged and then hiring a professional to clean them is costly and can leave your tenants unheated or cooled while you wait for service. This can be avoided by replacing the filter in your central air or heating system every two years.
6. Test smoke and carbon monoxide detectors
Set a time with your tenants to make sure these devices are working properly and not past their expiration date. A smoke or carbon monoxide detector that doesn't explode in an emergency can not only cause serious damage or injury, but also put you in court. Replace batteries, check cables or buy a new device if necessary.
7. Check for pests
Dealing with a major pest problem can be costly. Tenants may need to move out temporarily and you risk losing them and facing an extended vacancy. Inspect your property regularly for signs of creature intrusion and deal with the problem before it turns into an infestation.