All Forum Posts by: Brooks Conkle

We have a real estate brokerage and an arm our our business is performing valuations (BPOs) full time. We perform 20-25 BPO orders every week.

Here is my feedback in response to multiple posts I've read based on our experience:

1) If you only do a few BPOs per week then it's probably not worth the effort.
2) We are told whether to do an exterior or interior BPO - it's not by choice.
3) If an agent need the cash then I would advise them not to do BPOs unless they plan to get a lot of orders per week (we actually use a software that helps us pull comps and maximize our time).
4) Agents are Agents are Agents. People are People are People. Some are on their game, some are not. Someone mentioned REO agents not doing BPOs because they're closing transactions. Some are, yes. They are also performing BPOs for every property that they have in inventory for their Asset Manager
5) Although you can perform BPOs in order to build relationships with asset managers, we would never do so. Most of those BPOs come through some portal company, and there is never any guarantee of business.
6) The mainstream fashion of BPOs now are companies that are set up solely to take valuation orders from lenders. Those companies then shoot them out to agents in their network (us) and explain what type of report their client is requesting.
7) Values are subjective. Period.
8) Yes, a $300 appraisal will most likely get you a more accurate value than a $50 BPO valuation performed by us. But that's not what the lender requested. They requested an exterior drive by of the property and want comparable comps to compare it to.
9) Ha, that's all that I can remember to respond to from what I read.
Feel free to let me know if anyone has any more thoughts, as we are actively performing BPOs in lower Alabama as a sector of our business.

I've done plenty of Probate Marketing.
You can read about my deals - just go to my blog below and search for "probate."
Also happy to help you with further info if you need it.
Best of luck!

Yep, super popular here in Lower Alabama.
Unfortunately the wait time for the first check can be up to 90 days here --- depending on their workload, etc.
As long as you can float, you of course get paid retroactively from the date the tenant was approved and signed/dated the lease.
In Mobile, the only way to be paid is direct deposit - sweet!

How did most of you get your start in Section 8?
How did you first learn? Through friends? Online?
Are there any great resources out there?
If so, what are they?

Lots of opinions and ideas on Section 8 --- we do a lot of it in Mobile, AL --- it's actually seems to be the preferred investment method here.
How did most of you get your start in Section 8?
How did you first learn? Through friends? Online?
Are there any great resources out there?
If so, what are they?

Lots of opinions and ideas on Section 8 --- we do a lot of it in Mobile, AL --- it's actually the preferred method for most of my colleagues and clients.
How did most of you get your start in Section 8?
How did you first learn? Through friends? Online?
Are there any great resources out there?
If so, what are they?

Mentioned above, REITips is a great source for what you need - it's where I got my start a number of years ago.

Just keep reading forum posts and getting a grasp - then go out and take action!
I would highly recommend finding an investor doing this in your area and offer them a 50/50 partnership on your deals in exchange for assistance.

Also, I've got a wholesale contract on my site below you can sign up for - I should have a video link walking you through how to fill it out as well.

Good luck!

We use Ring Central Fax Service. Ring Central is great, as we use it for our company phone number as well. Probably same as the other guys.
I of course agree that nobody faxes today (at least not in the traditional sense). The "old school" folks just don't understand that when we fax them we're scanning/emailing and when they fax us it's coming to our email as well.
Good luck!

Good responses.
Our company does a quasi flat fee structure for a few investor clients (starting at $1,050)
While full service is sometimes needed, we bridge this with our product.
We rely mainly on the pricing and superior product to sell the house.
We do minor marketing campaigns and occasionally sell the home ourselves.
We typically visit the properties twice during the entire process.
I say all of the time that our job is to ensure a smooth transaction and sales process.
We spend approximately 10 hours per deal -- I would say we do a good job as we have done repeat business over and over with multiple clients.

But with that said, it's not the best option in every situation - as has been stated.

Hey guys,
Has anyone used this site, successfully or unsuccessfully?
I just started a real estate brokerage and am looking into how to syndicate my listings to multiple websites in the best fashion.
SellPoint costs money, but I remembered about a year or so ago signing up for a free acount (I think it's good for 2 years).
Any feedback on this?

Dan, good explanation for Michael.

Michael, I'm not sure whey they lashed on you up there. In your very first post, you never made any mention of having a problem with someone making money - they had their defensive guns drawn it seems.

It's cool that you've never done a deal in this fashion but are open to the concept -- you're the kind of investor that will be good to deal with and can do continuous business with a wholesaler and will understand their value in the marketplace.

Best of luck!