BPO's and REO's are the top sellers for investors
all around the world, the market value of homes on the market have dropped allowing for getting properties for 30 to 40 percent of current market value.
In this case a $400,000 dollar home will sell for less than $200,000 giving higher assets to brokers who need to help the banks unload these distressed asset investments.
Many of the main reasons that listing agents provide broker price opinions is to get bank owned property listings. The worth of the property as-is can be low causing a realtor to not earn much of a commission if anything at all.
The more people involved in listing the REO and the actual final sale leaves you breaking even to cover your time, expenses and marketing efforts.
Neighborhoods that need field service representatives
Some areas are up an coming, new businesses being developed and old houses being refurbished. There are various types of motivated sellers, out of towners, probate real estate, rental property owners, those needing to relocate, divorce, retirement, downsizing any number of reasons for an unlisted property to go unnoticed.
Asset Management/BPO/REO Bank List
Will Failed Banks provide more contracts for Cleaning Companies?
Here are some tips to get started as a Home Inspection Photographer with Photo Inspections
- Locate properties for sale takes time and effort, knowing what types of houses are a good investment is what makes for a good property locator.
- It may take driving around your local neighborhoods in order to find unlisted properties that look distressed and neglected.
- One good sign is when you find a house in a nice neighborhood that has overgrown grass, burned out patches of weeds as well as trash and debris.
- Sometimes it is noticeable that the house is vacant because the windows have been boarded up.
- By driving around your neighborhood you start to get familiar with certain homes and which ones have been left unattended.
- Sometimes a big yellow auction sign will be in the window. This tells you that this is a foreclosure, bank owned property or tax lien sale property.
Subvending is going to be the result of the many failed banks in 2010, many foreclosure cleanup businesses will want to hire field service reps for REO properties,
If you have a real estate service business you can provide yard maintenance, winterization, boarding and more. To get more work you will want to contact the asset managers of FDIC institutions.
Photo Inspections needed for Home Inspector photography is a process of locating abandoned, boarded up, distressed properties and homes for sale or bank owned properties, take photos of the house and write down the surrounding area.
- Keep track of which street the house is located on and any near
by cross streets. Write down any land marks (eg. shopping center, school
or park) near by.
- Start a notebook and keep track of all the houses you find, believe me it is easy to locate 20 houses in one day and so detailed record keeping is essential.
- Another tool is to build a buyers list, make a list of those
ads in the paper that says " We Inspect Houses" and keep a list of real
estate investment groups in your area.
- This way once you find the homes you will have a list of who to contact that will be able to give you a finders fee, referral fee or commission once they purchase the property.
Drive by inspections of distressed properties for banks
There are many types of property inspections. It is important to note that these inspections help mortgage companies, lenders, insurance companies make decisions on their properties with the information received from an inspection.
Home Inspectors needed for distressed Property, make money on distressed and foreclosure abandoned homes in your area. Field Service Inspectors find homes that are in pre-foreclosure of abandoned or banked owned properties.
How to get started as a field service inspector
First place to look is online, classifieds and local services in your area. Here is a site that has years of experience in the field of property inspection and can get you started:
Society of Field Inspectors (SOFI) is a networking organization for both inspectors and property preservation specialists and there you can get a copy of the National Field Service Directory.
Doing a search on google will give you more businesses and companies who specialize in property preservation services, make a list and contact each one by email. It takes due dilligence and an unstoppable quality to keep yourself informed, knowledgeable and prepared to take on all the duties.
Get free list of companies hiring field inspectors see below for Field Service Reps are needed in Property Preservation home inspection Services.
How to Profit with Distressed and Foreclosure Properties as a Field Service Inspector
- Some of the best properties to find is one where the owners live out of state and they are unable to keep up the property. Some times offering to become the property manager for them and keep the landscape up and clean and paint the house so it will be presentable for resale.
- Some out of state owners would like to sale the property but due to the neglect they are not sure anyone would actually want to buy it. Now that you found the property you can offer to give it some curb appeal and negotiate a selling price.
- Next find an investor who wants to purchase the property at a discount. Rehabbers and Flippers like to take ugly houses that are found in nice neighborhoods and resale them for a profit.
The most hottest in demand work at home based business right now is for field service representative inspection, this doesn't seem to be slowing down anytime soon.
The Complete Book of Home Inspection discusses how to know if it is a nice neighborhood by first looking to see if there is any schools around the area.
Also look at the other houses are they well maintained? Does the area have shopping centers and parks nearby. Has a new freeway been built? Are vacant land lots near by being built up?
REO Preservation Services Jobs
AppleOne is recruiting for a property preservation specialist which pays up to $50,000 for positions that include unit managers, vendor management, unit supervisors, assistant REO project managers and data processors. Must have previous experience in REO, Property Preservation or Construction. Apply at: AppleOne.com/CareerSearch
Lender Processing Services - Westminster, CO is hiring Property Preservation Technician must have Fiserv knowledge FHA/GSE mortgage servicing experience, understanding of violations and code enforcement policy, REO, Real Estate, Inspections knowledge. Job requires updating billing, reviewing bids and work orders for contractors.
Everbank - Jacksonville, Fla. is hiring High Risk Property Preservation Coordinator to monitor risk reports, and contracts for investors, vendors and management. Review loss claim reports, bad address, property condition and data related to damaged properties. Prepare written notifications, ensuring registration and payment on vacant properties notifying foreclosure, bankruptcy, claims and REO departments.
Ideal candidates will have prior experience with MSP servicing platforms as well as a strong mortgage banking default servicing knowledge with the property preservation guidelines for insurers and investors along with hazard claims experience.
Debra Giles on September 01, 2011:
I ahve been doing field inspections in Shelby and Jefferson county al., but need more business. Do any of you know of any companies needing help in alabama
Tomika on August 25, 2011:
I'm looking for a job in real estate photography. If interested, please contact me at email@example.com or 816-835-0292. I live in the Greater Kansas City Area, but I am willing to travel. Thanks
Penny on June 11, 2011:
My husband and I have been doing field inspections for eight years. We are looking to expand. We have several people lined up to work if we can get it. We work all the St. Louis, Mo. counties and the surrounding counties also. We work Il. counties near the St. Louis area all the way to Nashville Il. Contact me at firstname.lastname@example.org or 314-604-4296. Thank you.
Ajeesh on November 11, 2010:
Need any data entry service for field inspection. we provide impeccable quality service in back-end process. contact me at "email@example.com"
bn4994 on March 19, 2010:
FYI--when you are asking about work, make sure you provide some type of contact information and your location. Otherwise companies that are reading the boards can't contact you.
DanR on March 08, 2010:
Many of these firms are just contractors looking for the lowest $ shmuck to do the work... I can't get in my car for $25 much less go somewhere I might be in peril AND write a report!
Ronald Morton on December 03, 2009:
I currently work as a property inspector and am looking for a new company to subcontract with. I am in Ashland, VA and can cover a large area in Virginia
April on October 26, 2009:
Home inspections are relatively easy to do. The pay varies depending on the company you work for. When doing inspections you can drive ALOT of miles!
barry on July 18, 2009:
IS there software out there to help a business keep track of inspections we have been assigned? I heard "vendor 360" but haven't seemed to be able to locate it for download...
Research Analyst (author) on July 15, 2009:
field service reps will be in demand for the next few years, which is a nice extra income.
propertyauction from UK on July 08, 2009:
Good info you got here. With layoffs still hurting many, an alternate or second job as a field service rep, as you mentioned, can be a good way to earn. Also, as noted, the info they bring back actually help mortgage companies and insurance companies. I'm into property auctions myself.
John M on April 27, 2009:
I am a home inspector how can I do some of these inspections?
frankie b. on March 09, 2009:
A re there any of these services available in the so-cal/long beach area?
Research Analyst (author) on March 09, 2009:
There is a list, try a search in google for real estate photography jobs, I saw a listing on myspace jobs.
Hope that helps.
laringo from From Berkeley, California. on March 09, 2009:
Good information RA, Inspectors I believe can make $300 to $400 per house. Training and knowlegde about home buliding is required. Do you know how to secure a job for Ral Estate Photographer.
Research Analyst (author) on March 09, 2009:
Contact companies who are already doing this type of property preservation work and when you get to their websites send them an email letting them know you are interested.
T Barnes on February 19, 2009:
I'm in NC how do I get started firstname.lastname@example.org
Research Analyst (author) on January 09, 2009:
Field service rep home inspectors are needed now, no experience is needed to get started.
amy nicoll on November 03, 2008:
how do i sign up to get started? the only thing is i do not money to invest
Research Analyst (author) on August 04, 2008:
Getting started in a unknown field, help investors find vacant homes and take photos of houses preforeclosure for mortgage companies.