Letters from an REO vendor

I've been in the REO business for nine years now. Though my company is only three years young, the six years prior were spent working in the field for other companies, which taught me some valuable lessons, and 'street smarts' when it comes to working in this field. It's a demanding business. A business that often times demands things out of you that leave you saying to yourself on a weekly basis, "How in the heck did I do that in that amount of time?!?!?!?" One thing that I find newcomers to this industry telling me is, "I didn't know that it was this hard of work. I don't think i'll be able to move for at least a month after this." Though I warn them constantly, if you're not willing to risk life and limb sometimes, this business isn't for you. Sounds simple enough of a concept working as a property preservation vendor, doesn't it? I mean, what is there really? Cutting lawns, throwing junk out, boarding up windows, changing locks.... That's nothing, right? WRONG!!!! What most don't think about is how physically taxing some of these tasks are. The duties can take a major toll on your physical well being. Nobody ever takes into account how heavy some items are that need to be tossed. How tall and overgrown some of these lawns (I like to refer to them as the Congo in most cases) are.

These are just a handful of REO properties that I have come across. Most times, you see this in every home you get in to preserve. That's why this business is not your typical 9-5 desk job. It takes a lot of toughness, strength and perserverance to do this line of work. Is it worth it in the long run? Absolutely, but not just anyone can do it. Not everyone has the "fortitude" to withstand it.

This is the conclusion of lesson number one. Know what you're getting yourself into, before you you take on the task of this business. Get your ducks in a row. Try working in the field with other contractors like myself, before venturing into the business. You'll be a lot better off in the long run, and you will learn very fast whether or not it's something you can handle doing on a daily basis.

Until next time... Good luck to all, and I wish all of you success!!

Matt