I was recently featured on MJS’s ThinkTank. Mahir asked me a straightforward question – “How do you handle your REO after FC (foreclosure)?” I gave him the not so straightforward answer. By the way, shameless plug to the interview here: https://www.firstratefieldservices.com/handle-reo-fc/
Investors tend to focus on two options when an asset turns into an REO; sell or rent. Both paths have their unique challenges to get the property market ready. However, both start with the same first step; gaining more intel on your asset. Through utilization of an FRFS inspection report, we get you the information you need to make an informed decision. Dated Zillow pictures may get you some insight on the condition of your asset, but with our analysis, you get quick, up-to-date information in an appealing format.
Any investment professional knows that with limited information before a large purchase there is a higher amount of risk. FRFS is here to minimize that risk.
Thinking about buying a new NPN or REO? Think FRFS first. Before you “pull the trigger,” FRFS can have a field rep out to the asset under purchase consideration and a report on your desk within 3-5 days detailing the condition of the home. Numerous “out-of-town” national investor clients have told us this service alone stopped them from buying an NPN or REO that was in way worse condition than initially thought. That is just one-way FRFS reduces your risk before you even buy the asset.
In the eternal words of the late Billy Mays “But wait! There’s more!”
Once the property is officially under your control as an REO, our special projects department headed by our full-time, in-house licensed contractor can help you determine what upgrades and repairs are needed, encouraged, or can wait. By leveraging FRFS expertise, investors feel confident when making decisions that involve getting their assets into tip-top shape for rental or sale. By sharing the same end goal (more $$$ for you!) our estimates and recommendations are seen through a cost conscious lens that intends to return more cash back into your pocket.
No job is too big or too small for FRFS. As your one source solution partner, we do it all. If you have ever dealt with a contractor, you know it is like “herding cats.” Now imagine doing that with multiple assets all over the country like an out of town investor. That’s more like “herding lions.” As your business scales, we want to become your trusted partner in preserving your asset. Instead of calling multiple people to inquire about the status of your asset, there is only FRFS. Grass cuts? Done. Snow removal? You got it. Having trouble contacting your occupant? On it. Rehab or repair? Covered. Securing your home? Completed faster than a speeding bullet. The list goes on. FRFS allows you to be virtually present at your asset without leaving your computer. See the up-to-date real-time condition of your asset from your FRFS Synergy Tech dashboard.
Unlike most of Billy Mays deals our services are not a “one day only – buy it now or lose it” proposition. Since 2009 FRFS has been in business and we are here to stay. Partner with a pro. Leave it to the experts at First Rate and see firsthand how we are ushering in a new generation of preservation.