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11-04-2009, 04:28 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
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Originally Posted by mikejr
I've been licensed for 17 years and have been in REO for 11. Have owned my own brokerage for 10 years now. It's a niche I fell into and have exploited it. If you are going to make it in REO its all about volume. I average 300+ REO's a year....with a career sales of over 3500 properties.
BPO work if good to hone your skills.
The biggest issue most agents have with REO work is the reimbursment process. Fronting money for trash outs etc can get daunting and at times we have $100K out in reimbursements. If you can get a "system" in place for handling the properties and meeting the timelines, you can do well. Many of our clients arent looking for new agents so its difficult to break into the REO gig. Asset managers dont want to be training an agent, they want an agent that will produce.
What i like about REO work is.....the average person will buy a house once every 12 years....so you always must be looking for new business. With REO work, you establish a relationship and then they feed you the work on a recurring basis.
But its not for everyone. Getting fleas, chased by dogs, walking through human feces and god know what....well isnt for the faint of heart thats for sure.
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WOW... that's a lot of props a year! Sounds like my story to date (minus the volume!!) as I am a first year brokerage owner and second year REO prop. lister and this is the end of my sixth year.
I might be the next you!!!!!  LOL... I come from a blue collar factory job, and am barely into my thirties so I don't really have the need/desire to make 300+ homes worth of money every year. I'm so happy to just be blessed with the opportunity to be in such a cool profession......
Every market is different also... the cheapest REO prop. I sold was for 109k I believe... most are at least 175k and I just closed one for just over 700k.
I've moved away from all but a couple BPO mills. I still do them when I have down time for the exact reason you mention above.
I have a lot of friends/acquaintances I use for my work and a lot of them will bill me 30 days out. That helps if you're broke like I was last year.
I hear that a lot.. the cash flow issue.
Man, we found some male sex toys in one of the most recent homes we trashed out laying amongst moldy food and the worst stench I've smelled to date.
I figure if it's for me I'll stick with the leftovers or companies that the vets don't want to work with and learn and build from there.
I just find the entire process very interesting. The worst part is kicking the old occupants out of their old homes... that sucks for me but it is what it is. 90% of mine have been hispanic... have you noticed that trend in your large volume??
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11-04-2009, 04:50 AM
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Hummer Authority
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Join Date: May 2006
Location: South Western PA
Posts: 1,433
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Re: Good Price?? 2006 H2 Lux. Pack
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Originally Posted by pdxrealtor
WOW... that's a lot of props a year! Sounds like my story to date (minus the volume!!) as I am a first year brokerage owner and second year REO prop. lister and this is the end of my sixth year.
I might be the next you!!!!! LOL... I come from a blue collar factory job, and am barely into my thirties so I don't really have the need/desire to make 300+ homes worth of money every year. I'm so happy to just be blessed with the opportunity to be in such a cool profession......
Every market is different also... the cheapest REO prop. I sold was for 109k I believe... most are at least 175k and I just closed one for just over 700k.
I've moved away from all but a couple BPO mills. I still do them when I have down time for the exact reason you mention above.
I have a lot of friends/acquaintances I use for my work and a lot of them will bill me 30 days out. That helps if you're broke like I was last year.
I hear that a lot.. the cash flow issue.
Man, we found some male sex toys in one of the most recent homes we trashed out laying amongst moldy food and the worst stench I've smelled to date.
I figure if it's for me I'll stick with the leftovers or companies that the vets don't want to work with and learn and build from there.
I just find the entire process very interesting. The worst part is kicking the old occupants out of their old homes... that sucks for me but it is what it is. 90% of mine have been hispanic... have you noticed that trend in your large volume?? |
Our average sale price has hovered around $60K since I started doing REO work. We've sold $1K properties up to $900K. Its sort of comical, but I dont do any sales work trying to find new business. It finds us based upon our reputation for quality work.
Evictions are tough situations for everyone involved. We dont have a large hispanic population here in Western PA.
Like my father always says....make it while you can...it might not be there tomorrow. Being a brokerage owner, you have to make sure you have a cushion for the bad times. How many agents do you have? We've got 15 which is just right for the level of stress that I am wanting to deal with at this point in my life. I am 44.
Just make sure if you are using friends as your vendors that they have insurance and provide you with certificates of insurance. If they arent insured and something goes wrong you are left holding the bag. Also, if you dont get insurance certs from them, then you can end up paying insurance on the money you pay out to them for w/c insurance.
It is a cool profession for sure. The sky is the limit and it all depends on what your goals and aspirations are. The business can consume you if you allow it to. I work pretty much 7 days a week and with the blackberry am always "on call" so to speak. Work hard and work smart and the rewards are there for the taking.
You are young so start building up that retirement now and you can retire early if you choose. I sound like father time here dont I???....
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
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11-04-2009, 05:03 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
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Originally Posted by mikejr
Our average sale price has hovered around $60K since I started doing REO work. We've sold $1K properties up to $900K. Its sort of comical, but I dont do any sales work trying to find new business. It finds us based upon our reputation for quality work.
Evictions are tough situations for everyone involved. We dont have a large hispanic population here in Western PA.
Like my father always says....make it while you can...it might not be there tomorrow. Being a brokerage owner, you have to make sure you have a cushion for the bad times. How many agents do you have? We've got 15 which is just right for the level of stress that I am wanting to deal with at this point in my life. I am 44.
Just make sure if you are using friends as your vendors that they have insurance and provide you with certificates of insurance. If they arent insured and something goes wrong you are left holding the bag. Also, if you dont get insurance certs from them, then you can end up paying insurance on the money you pay out to them for w/c insurance.
It is a cool profession for sure. The sky is the limit and it all depends on what your goals and aspirations are. The business can consume you if you allow it to. I work pretty much 7 days a week and with the blackberry am always "on call" so to speak. Work hard and work smart and the rewards are there for the taking.
You are young so start building up that retirement now and you can retire early if you choose. I sound like father time here dont I???....
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I have one agent... ME! The only agents I will bring on are the ones to support me should the time come I get that busy. Learning how to delegate tasks will be a job in itself.. as with any job... you train someone to do what you need and just when your done training they're gone.... I've always said stay small keep it all.... sounds like you're not too far away.
Thanks for the tip on the insurance bit. Some are, some are not. Guess if things really pick up I will have to change course on this. Thanks again for that.
I need fatherly advice sometimes!
My success has been based on quality of work whether it has been conventional re-sale or REO (hard to really tell for sure about REO as I'm so new, but I don't think I'd be being contacted again and again by new and old a like if the work was bad).
I am 32... I have made the decision no more credit for me... save to buy or don't buy at all. Buying the new Hummer in cash and then it's saving for apartment style condos that are popping up dirt cheap at the auctions.
What I like about the condos is they're cheap, monthly rent will be great retirement money and I won't have to worry about losing 40% of my retirement because Wall St. is in a down cycle...
Sounds like you've got a great thing going.... sounds like you've, and are, working hard and have earned it.
Gosh... 300 a year! WOW... I'm at 16 for this year... LOL... best year was 28! I'm only 272 away!! LOL LOL...
Alright... back to entering invoices..... 
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11-04-2009, 08:52 AM
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Hummer Professional
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Join Date: Aug 2008
Location: Pensacola FL / Sulzbach-Rosenberg, Germany
Posts: 490
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Re: Good Price?? 2006 H2 Lux. Pack
wow can I have a cup tea and some cake for this post. is this a Hummer post or how i made my millions selling house.  Deal or no Deal
__________________
2006 H2 Slate Blue LUX with more chorme, K&N 77 Series Intake, Pirelli Scorpion ATR LT325/55R22, 22in polished chrome rims, Kenwood DNX-7200 w/ Garmin Navi, DVD, Bluetooth, IPOD,Rockford Fosegate Punch 10in P-1 Subs, Rockford Fosegate Punch P-300 amp,7" headrest monitors, Carbon Fiber Dash kit, 17 Flip down Monitor, Borla exhaust.
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11-04-2009, 06:02 PM
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Hummer Professional
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Join Date: Dec 2004
Location: 2 clicks north of Houston
Posts: 412
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Re: Good Price?? 2006 H2 Lux. Pack
Licensed since '95. Flip 5-12 homes a year. Writing the book, starting speaking engagements in '10. Hate ROEs. No money, too much paperwork. Prefer to work with investors, rehabbing and marketing. Sent back my Mortgage License. Good riddance. Love what I do more than ever. H-town referrals, I love em. Send me your contact info for referrals into your area.
__________________
Had-94,96,98,99 Cobra Stang,99 Navigator,03 Expy, 05 H2
Have-08 Titan C/C,06 GCSRT-425FTLB & AWD, other junk..
Want-08 Viper, 06 M5 
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11-05-2009, 12:43 AM
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Hummer Authority
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Join Date: May 2006
Location: South Western PA
Posts: 1,433
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Re: Good Price?? 2006 H2 Lux. Pack
Quote:
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Originally Posted by Fastest H-Town Realtor
Licensed since '95. Flip 5-12 homes a year. Writing the book, starting speaking engagements in '10. Hate ROEs. No money, too much paperwork. Prefer to work with investors, rehabbing and marketing. Sent back my Mortgage License. Good riddance. Love what I do more than ever. H-town referrals, I love em. Send me your contact info for referrals into your area.
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PM sent
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
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11-05-2009, 12:48 AM
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Hummer Authority
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Join Date: May 2006
Location: South Western PA
Posts: 1,433
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Re: Good Price?? 2006 H2 Lux. Pack
Quote:
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Originally Posted by pdxrealtor
I have one agent... ME! The only agents I will bring on are the ones to support me should the time come I get that busy. Learning how to delegate tasks will be a job in itself.. as with any job... you train someone to do what you need and just when your done training they're gone.... I've always said stay small keep it all.... sounds like you're not too far away.
Thanks for the tip on the insurance bit. Some are, some are not. Guess if things really pick up I will have to change course on this. Thanks again for that.
I need fatherly advice sometimes!
My success has been based on quality of work whether it has been conventional re-sale or REO (hard to really tell for sure about REO as I'm so new, but I don't think I'd be being contacted again and again by new and old a like if the work was bad).
I am 32... I have made the decision no more credit for me... save to buy or don't buy at all. Buying the new Hummer in cash and then it's saving for apartment style condos that are popping up dirt cheap at the auctions.
What I like about the condos is they're cheap, monthly rent will be great retirement money and I won't have to worry about losing 40% of my retirement because Wall St. is in a down cycle...
Sounds like you've got a great thing going.... sounds like you've, and are, working hard and have earned it.
Gosh... 300 a year! WOW... I'm at 16 for this year... LOL... best year was 28! I'm only 272 away!! LOL LOL...
Alright... back to entering invoices..... |
The secret is how to keep the agents. I give away 99% of the leads to my agents for private listings and buyer lead unless I know the person. My theory is if I keep my agents happy and they are making money, they will stay. I havent lost an agent in 10 years to a competitor.
What area are you from?
Paying cash is fine to a point...just remember to use other peoples money. I never pay cash for vehicles. I always finance them. My thoughts are to keep the cash reserves since its hard to build those reserves up. Once you get the hummer, make sure your CPA knows about the "over 6000 pound" write off.
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
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11-07-2009, 12:05 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Well...the dealer screwed me... and after some research i'm not the first and won't be the last.
They are known for super low internet prices and then when you show up.... just like that the car is gone. Oh well... got one for a bit cheaper and more options, although this one is coming from FL. 3k miles away.
Here's a link to the pictures.... Anyone want any chrome??? I'm putting all black accessories on it.
http://www.auctionadmin.com/ImgViewe...D=443602&pic=1
The back bumper appears to be fading a bit.... that's the worst thing about it. Still for 29,900 @ 25k miles I'll deal with it. One year of factory warranty left as well....
Last edited by pdxrealtor : 11-07-2009 at 12:11 AM.
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11-07-2009, 12:07 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Quote:
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Originally Posted by mikejr
The secret is how to keep the agents. I give away 99% of the leads to my agents for private listings and buyer lead unless I know the person. My theory is if I keep my agents happy and they are making money, they will stay. I havent lost an agent in 10 years to a competitor.
What area are you from?
Paying cash is fine to a point...just remember to use other peoples money. I never pay cash for vehicles. I always finance them. My thoughts are to keep the cash reserves since its hard to build those reserves up. Once you get the hummer, make sure your CPA knows about the "over 6000 pound" write off.
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Portland OR.
I get in trouble using other people's money... I do best using my own. My motto has always been stay small keep it all!
Because the truck is not brand new it doesn't qualify for the credit... |
11-07-2009, 03:44 AM
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Hummer Veteran
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Join Date: Jan 2009
Location: Houston
Posts: 233
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Bumper faded solution-GRIOTS...it works great!
here's the link...
it literally makes the bumper brand new looking...and it doesn't fade.
http://www.elcovaforums.com/forums/s...ghlight=griots
congrats on the new truck!
__________________
Don
2008 H2
Billy Boat Exhaust
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11-07-2009, 04:01 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Bumper faded solution-GRIOTS...it works great!
Quote:
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Originally Posted by dvl57
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Thanks x2! Gonna buy some right now...
Anything like this for the wonderful GM leather?? |
11-07-2009, 04:35 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
I read a post the other day about a rear back up cam that interfaces with the OEM NAV... and now I can't find it...
The guy had the lens installed at the top center in place of one of the parking lights.... he had it all wired up to factory nav screen and had it working so he could see it while driving..
Anyone know where the heck I can find this thread...
***Edit***
Found it... on the the "other" forum....
Last edited by pdxrealtor : 11-07-2009 at 06:29 AM.
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11-07-2009, 06:06 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Alright... the post on the "other forum" does not include any make information. Just shows that the cam is installed above rear hatch in the middle parking light location.
Also shows that the video is enabled on the OEM nav screen, also enabled while the car is in drive and you are driving......last is the cam works with the rear head rest dvd screens... and better yet the rear dvd screens are working on the front nav screen...
Any suggestions??? Looking to buy ASAP! 
Just bought the iPhone/Viper remote start system... back up cam is all I will need now.
Last edited by pdxrealtor : 11-07-2009 at 06:08 AM.
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11-07-2009, 04:01 PM
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Hummer Expert
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Join Date: Jul 2009
Location: ontario
Posts: 780
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Re: Good Price?? 2006 H2 Lux. Pack
hi i think this is the link http://www.coastaletech.com/gmlockpick4.htm for your 2006 rear camera and dvd suff. Hope this helps.
__________________
Thanks Tracy
2008 H2 SUV
Starr Hid projector headlights
Hid lights in the DRL bumper holes
Custom Alum. light bar, 2 Rigid Industries 10 inch Leds
MC2 Roof Light Bar
24 inch Starr 770 Hammer Rims
Gen 6 Lockpick
Gm bluetooth
Front + Rear Camera's
73 Duster 588 ci. B1 injected akly with NOS
Supercharged 2002 Harley, E Glide Classic
2005 Screamin Eagle, E Glide
http://twrbaggersplus.com/
Last edited by twr : 11-07-2009 at 04:06 PM.
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11-07-2009, 05:55 PM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Thanks... got a link for a rear spare tire delete kit??
I read tons of posts but didn't find anything solid except the do it yourself and that was on the SUTs.
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11-07-2009, 11:48 PM
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Hummer Expert
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Join Date: Jul 2009
Location: ontario
Posts: 780
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Re: Good Price?? 2006 H2 Lux. Pack
hi this is the link i sent its for a lockpick to unlock the dvd player and you can install a rear camera that will show on the nav screen thanks Tracy
UNLOCK VIDEO FOR YOUR PRE-2007 GM RADIO SCREENS!!
COASTAL ELECTRONIC TECHNOLOGIES HAS A LOCKPICK SOLUTION FOR YOUR 2004-2006 NON-TOUCH SCREEN AND TOUCH SCREEN GM RADIOS.
SIMPLE RIBBON CABLE REPLACEMENT AND A NEXT GENERATION VIDEO INTERFACE CAN GIVE YOU FULL COLOR VIDEO ON YOUR DISPLAY RADIO.
THESE UNITS ARE NEWLY UPDATED AND INCLUDE TWO VIDEO INPUTS WITH FULL TOUCH PAD CONTROL OF PICTURE SOURCE, COLOR, BRIGHTNESS, CONTRAST AND TINT FOR A SUPERB PICTURE!!
AUTOMATIC REVERSE CAMERA OPERATION IS INCLUDED TO ALLOW SIMPLE CAMERA INSTALLATIONS. YOUR RADIO CAN AUTOMATICALLY SWITCH TO THE VIEW FROM A REAR VIEW CAMERA WHEN THE CAR IS PLACED IN REVERSE - AND - YOU CAN CONNECT THE VIDEO FROM YOUR DVD OR VIDEO IPOD PLAYER AND SELECT IT WITH THE INCLUDED TOUCH PAD FOR VIEWING ON YOUR FRONT SCREEN!!
FACTORY DIRECT PRICING!!
$189.00
__________________
Thanks Tracy
2008 H2 SUV
Starr Hid projector headlights
Hid lights in the DRL bumper holes
Custom Alum. light bar, 2 Rigid Industries 10 inch Leds
MC2 Roof Light Bar
24 inch Starr 770 Hammer Rims
Gen 6 Lockpick
Gm bluetooth
Front + Rear Camera's
73 Duster 588 ci. B1 injected akly with NOS
Supercharged 2002 Harley, E Glide Classic
2005 Screamin Eagle, E Glide
http://twrbaggersplus.com/
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11-08-2009, 01:42 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Quote:
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Originally Posted by twr
hi this is the link i sent its for a lockpick to unlock the dvd player and you can install a rear camera that will show on the nav screen thanks Tracy
UNLOCK VIDEO FOR YOUR PRE-2007 GM RADIO SCREENS!!
COASTAL ELECTRONIC TECHNOLOGIES HAS A LOCKPICK SOLUTION FOR YOUR 2004-2006 NON-TOUCH SCREEN AND TOUCH SCREEN GM RADIOS.
SIMPLE RIBBON CABLE REPLACEMENT AND A NEXT GENERATION VIDEO INTERFACE CAN GIVE YOU FULL COLOR VIDEO ON YOUR DISPLAY RADIO.
THESE UNITS ARE NEWLY UPDATED AND INCLUDE TWO VIDEO INPUTS WITH FULL TOUCH PAD CONTROL OF PICTURE SOURCE, COLOR, BRIGHTNESS, CONTRAST AND TINT FOR A SUPERB PICTURE!!
AUTOMATIC REVERSE CAMERA OPERATION IS INCLUDED TO ALLOW SIMPLE CAMERA INSTALLATIONS. YOUR RADIO CAN AUTOMATICALLY SWITCH TO THE VIEW FROM A REAR VIEW CAMERA WHEN THE CAR IS PLACED IN REVERSE - AND - YOU CAN CONNECT THE VIDEO FROM YOUR DVD OR VIDEO IPOD PLAYER AND SELECT IT WITH THE INCLUDED TOUCH PAD FOR VIEWING ON YOUR FRONT SCREEN!!
FACTORY DIRECT PRICING!!
$189.00
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Thanks... I need to know if this will unlock the NAV to work while driving... and if they're iPod interface will work on the 06 Nav head units....
They're open M-F 10-7 EST.. so I'm hoping I can talk with someone.
They're back up cams look nice... I'm going to get the night vision one and have the stereo shop integrate it in where the lic. plate goes. I'm getting rid of the spare tire 1 st thing....
Keep ya'll posted and thanks again for the links....
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11-08-2009, 02:25 AM
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Hummer Expert
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Join Date: Jul 2009
Location: ontario
Posts: 780
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Re: Good Price?? 2006 H2 Lux. Pack
hi mine is a different model gmx322 and it unlocks the nav. So you can input addresses when driving and turn the rear camera on anytime. Its goes on automatic when shifted in rev. and can watch a dvd while driving but i don't use it, i don't watch dvd's in my truck at all.
__________________
Thanks Tracy
2008 H2 SUV
Starr Hid projector headlights
Hid lights in the DRL bumper holes
Custom Alum. light bar, 2 Rigid Industries 10 inch Leds
MC2 Roof Light Bar
24 inch Starr 770 Hammer Rims
Gen 6 Lockpick
Gm bluetooth
Front + Rear Camera's
73 Duster 588 ci. B1 injected akly with NOS
Supercharged 2002 Harley, E Glide Classic
2005 Screamin Eagle, E Glide
http://twrbaggersplus.com/
Last edited by twr : 11-08-2009 at 02:33 AM.
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11-08-2009, 02:28 AM
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Hummer Expert
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Join Date: Feb 2008
Location: Portland, OR
Posts: 948
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Re: Good Price?? 2006 H2 Lux. Pack
Quote:
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Originally Posted by twr
hi my is a different model gmx322 and it unlocks the nav. So you can input addresses when driving and turn the rear camera on anytime. Its goes on automatic when shifted in rev. and can
watch a dvd while driving but i don't use it, i don't watch dvd's in my truck at all.
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yes.. I see yours is a 2008.... Their is a diff. between the 06 and 08... That is what I need to clarify wight them. |
11-08-2009, 02:35 AM
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Hummer Expert
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Join Date: Jul 2009
Location: ontario
Posts: 780
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Re: Good Price?? 2006 H2 Lux. Pack
hi call them and they can clarify, mine does work well so far. I have only had it about 5 months.
__________________
Thanks Tracy
2008 H2 SUV
Starr Hid projector headlights
Hid lights in the DRL bumper holes
Custom Alum. light bar, 2 Rigid Industries 10 inch Leds
MC2 Roof Light Bar
24 inch Starr 770 Hammer Rims
Gen 6 Lockpick
Gm bluetooth
Front + Rear Camera's
73 Duster 588 ci. B1 injected akly with NOS
Supercharged 2002 Harley, E Glide Classic
2005 Screamin Eagle, E Glide
http://twrbaggersplus.com/
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