# HomeStar Property Solutions



## Gypsos

Used to be called Energy REO Solutions. Got the call and the app from them today. 

Anyone got any other info about them?


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## REO2Rentals

Gypsos said:


> Used to be called Energy REO Solutions. Got the call and the app from them today.
> 
> Anyone got any other info about them?


Did they attached price list with that?


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## Gypsos

REO2Rentals said:


> Did they attached price list with that?


No price list. Was told it is being reworked because they recently got some new contracts. 

The work mentioned was both VA and Freddie Mac. Anyone have any experience doing either of these?


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## BRADSConst

Gypsos said:


> No price list. Was told it is being reworked because they recently got some new contracts.
> 
> The work mentioned was both VA and Freddie Mac. Anyone have any experience doing either of these?


I do some VA REO work with MSI. I have only done FMAC rehabs, no P&P. If you have question, shoot me a PM.


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## Wannabe

Energy REO was a good company to us. Only did a few little rehabs but it was at our bid amounts. I really didn't think the mortgage companies would continue, for any long length of time, to rehab properties when they sell "as is" so fast.


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## Cleanupman

They sent a sample pricing...they said sample....at the bottome of the price schedule was this statement.
Failed QC $100 fine....
I inquired about this and this is what we received for them.....

I apologize for being absent - I have been buried in emails and have been in and out of the office over the past few weeks. 

As I told you before, the price list I gave you is not approved and was just meant to be given to you as a reference for task pricing. We may or may not implement a penalty program for late work orders - that has not been decided and I ensure you it would not be hidden to our contractors if it were. 


Our QC program is also being redeveloped and is in no stage to be shared with our vendors. Once we have the price list and QC guidelines approved, we will be more than happy to share it with you. Unfortunately, we cannot share client information - it will all be implemented into our guidelines. 


I understand if you are uncomfortable with this and would not like to work with us just yet. I can let you know in the future when we have approved QC guidelines and a price list for you. 

So you be the judge....I know they are having some growing pains as the name has changed but I would think that you have a QC program in place if a pricing schedule...sample or not...if there is a fine attached for a failed QC inspection....I will be doing a follow up phone call later today with them to see if things have progressed....


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## ontimepres

I've been told they pay by direct deposit something like 48 hours after the job is complete ... unheard of for this work!


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## Gypsos

ontimepres said:


> I've been told they pay by direct deposit something like 48 hours after the job is complete ... unheard of for this work!


 
I was told they discontinued that when I talked to them. He mentioned some sort of accelerated pay for a fee. 

I believe it was 2%, not sure about the percentage because all I heard was you have to pay to be paid and quit hearing it.


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## GTX63

Cleanupman said:


> They sent a sample pricing...they said sample....at the bottome of the price schedule was this statement.
> Failed QC $100 fine....


$100 fine. That is interesting. If that makes it into their final pricing I'd like to see how that plays out. A- $100 fine and the contractor has to return to the property to make corrections? B-$100 and the contractor does nothing, the money just goes back into their pocket and it remains in that condition until the next regional gets the contract. C-$100 fine and it is reassigned.


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## mtmtnman

All new regulations are safeguard, CoreLogic, MCS, and Freddie Mac all rolled into 1. You now have to write on a dry erase board the cubic yardage with photos, and take progressive load photos with measurements of your trailer in the photos. You're pre approved up to 30 cubic yards to remove at 25 dollars a cubic yard. Anything over 30 cubic yards you have to photograph with a white board, bag up and move to a garage or a basement and bid it. They do not pay for any bagging on moving debris. their initial REO service now pays 120 dollars for sales clean, change all locks and initial lawn cut. I think they also send E-Coupons for KY!!!!


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## STARBABY

mtmtnman said:


> All new regulations are safeguard, CoreLogic, MCS, and Freddie Mac all rolled into 1. You now have to write on a dry erase board the cubic yardage with photos, and take progressive load photos with measurements of your trailer in the photos. You're pre approved up to 30 cubic yards to remove at 25 dollars a cubic yard. Anything over 30 cubic yards you have to photograph with a white board, bag up and move to a garage or a basement and bid it. They do not pay for any bagging on moving debris. their initial REO service now pays 120 dollars for sales clean, change all locks and initial lawn cut. I think they also send E-Coupons for KY!!!!


 
Are freaking kidding me! more and more BS to deal with.


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## JFMURFY

mtmtnman said:


> All new regulations are safeguard, CoreLogic, MCS, and Freddie Mac all rolled into 1. You now have to write on a dry erase board the cubic yardage with photos, and take progressive load photos with measurements of your trailer in the photos. You're pre approved up to 30 cubic yards to remove at 25 dollars a cubic yard. Anything over 30 cubic yards you have to photograph with a white board, bag up and move to a garage or a basement and bid it. They do not pay for any bagging on moving debris. their initial REO service now pays 120 dollars for sales clean, change all locks and initial lawn cut. I think they also send E-Coupons for KY!!!!


Who really wants to get involed with **** like this Matt... not I that's fer sure...


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## mtmtnman

I don't I just laugh anymore.........................


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## tammys

*About home star property preservation*

Sorry all lol


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## GTX63




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## PropPresPro

GTX63 said:


>


 
LOL. . .
tammys, I think what GTX is saying is TURN THE CAPS LOCK OFF, its hurting his ears!


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## Cleanupman

I was told by someone yesterday that they are subbing work from VRM...to homestar...to Eastern Estates....

Just what I heard....Homestar has said that VRM is their client....


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## GG3

Cleanupman said:


> I was told by someone yesterday that they are subbing work from VRM...to homestar...to Eastern Estates....
> 
> Just what I heard....Homestar has said that VRM is their client....


I have been dabbling with these guys. Is what you heard that they are subbing for VRM reliable?


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## PropPresPro

GG3 said:


> I have been dabbling with these guys. Is what you heard that they are subbing for VRM reliable?


Yep. I've completed multiple VRM jobs through Homestar.


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## BRADSConst

PropPresPro said:


> Yep. I've completed multiple VRM jobs through Homestar.


Can you share any pricing, payment terms, p&P or rehab, etc? The person in the introduction thread is fishing for contractors directly for VRM. Any info would be greatly appreciated.


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## PropPresPro

BRADSConst said:


> Can you share any pricing, payment terms, p&P or rehab, etc? The person in the introduction thread is fishing for contractors directly for VRM. Any info would be greatly appreciated.


VRM contacted me directly a couple of months ago, after having completed 6 or so REO services orders through Homestar.

Homestar was very flexible on what they were willing to pay. I think we negotiated $55 maid services, $85 wints, $30 debris, all plus mileage. The only problem pricing I found was their initial janitorial. I refuse to do any initial janitorials for less than $200. Payment has never been an issue with them (I did rehabs for Energy REO before the VRM work).

All in all my experience with them has been good so far.


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## BRADSConst

PropPresPro said:


> VRM contacted me directly a couple of months ago, after having completed 6 or so REO services orders through Homestar.
> 
> Homestar was very flexible on what they were willing to pay. I think we negotiated $55 maid services, $85 wints, $30 debris, all plus mileage. The only problem pricing I found was their initial janitorial. I refuse to do any initial janitorials for less than $200. Payment has never been an issue with them (I did rehabs for Energy REO before the VRM work).
> 
> All in all my experience with them has been good so far.


Thanks PropPresPro :thumbsup:. I might give them a shot.


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## PPS

Ive done 70 units for them since October with no problems! All VRM!

VRM i understand is going local through the realtors, anyone else hear this?


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## Cleanupman

Yes that is how they are handling the VA contract they just got through the realtors...I know they are doing some sort of training in MD coming up soon...there is a lot of talk on the FB page about this....
I have also seen the pricing deal...I'm very leary of it as on the surface sounds real sweet...but you could get burried...you take the property for LIFE...of the property and do all maintenance, de-wints-re-wints....Don't know how to attach a document or I would post it for everyone to see....
I have it in PDF format????
so I'll do it this way.........................................$1,000.00 per property...cradle to grave

Property Preservation
Overview of Services Required
Securing or maintaining Real Estate Owned “REO” homes for the owner. The owner may be a bank, 
a real estate company, or a government lending agency who hires a preservation company to clean, 
secure and maintain foreclosed properties.
Initial Services
Completed within 7 calendar days of assignment
Facilitation of field eviction and moving services
Initial Inspection
Property Condition Report (PCR) inspection with systems checks
Visual lead based paint (LBP) inspections on pre-1978 houses
Winterization, including posting signs/stickers
Additional Services
Completed until the asset is sold or otherwise disposed
Subsequent de-winterization for inspection and re-winterization after inspection.
Eliminate health and safety hazards within twenty-four (24) hours of discovery
Install handrails
Secure swimming pools, spas, water features per local code
Securing windows and boarding and/or re-glazing windows when necessary
Boarding and/or re-glazing windows when necessary
Interior and exterior debris removal up to forty (40) cubic yards
Removal of one vehicle
Graffiti abatement
Smoke detectors and all detection devices required by law
Pest control (not to include termite or wood destroying organism treatment)
Ready to show
Initial lawn service up to 15,000 sq. ft. and shrub trimming and grounds maintenance
Prevention of further moisture damage
Sump pumps and pump outs
Roof repairs (patching and tarping only)
Cover electrical service panel and outlet covers
Recurring Services
Completed until the asset is sold or otherwise disposed
Routine monthly inspections
Re-inspections, habitability inspections, repair inspections, as needed
Recurring janitorial maid refresh
Securing and boarding as a result of vandalism
Biweekly lawn cut up to 15,000 square feet
Snow/ice removal in compliance with local laws
Salting for ice storms
Repairs as needed based on the results of routine inspections


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## Gypsos

I have spoken at length with them and initially refused the work based on my experiences in my area with debris and filth amounts on initials and how long my properties typically take to sell. 

However, I have been told that the list is not necessarily all inclusive for the $1,000. There are exceptions. 

So I am waiting on a detailed list and explanation of exactly what are, and what are not, potential exceptions that can be bid/billed for beyond the $1,000. 

Once I have that I will weigh the risks and decide.


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## BRADSConst

Gypsos said:


> I have spoken at length with them and initially refused the work based on my experiences in my area with debris and filth amounts on initials and how long my properties typically take to sell.
> 
> However, I have been told that the list is not necessarily all inclusive for the $1,000. There are exceptions.
> 
> So I am waiting on a detailed list and explanation of exactly what are, and what are not, potential exceptions that can be bid/billed for beyond the $1,000.
> 
> Once I have that I will weigh the risks and decide.


Keep us posted on what you find out. :thumbsup:


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## SwiftRes

Cleanupman said:


> Yes that is how they are handling the VA contract they just got through the realtors...I know they are doing some sort of training in MD coming up soon...there is a lot of talk on the FB page about this....
> I have also seen the pricing deal...I'm very leary of it as on the surface sounds real sweet...but you could get burried...you take the property for LIFE...of the property and do all maintenance, de-wints-re-wints....Don't know how to attach a document or I would post it for everyone to see....
> I have it in PDF format????
> so I'll do it this way.........................................$1,000.00 per property...cradle to grave
> 
> Property Preservation
> Overview of Services Required
> Securing or maintaining Real Estate Owned “REO” homes for the owner. The owner may be a bank,
> a real estate company, or a government lending agency who hires a preservation company to clean,
> secure and maintain foreclosed properties.
> Initial Services
> Completed within 7 calendar days of assignment
> Facilitation of field eviction and moving services
> Initial Inspection
> Property Condition Report (PCR) inspection with systems checks
> Visual lead based paint (LBP) inspections on pre-1978 houses
> Winterization, including posting signs/stickers
> Additional Services
> Completed until the asset is sold or otherwise disposed
> Subsequent de-winterization for inspection and re-winterization after inspection.
> Eliminate health and safety hazards within twenty-four (24) hours of discovery
> Install handrails
> Secure swimming pools, spas, water features per local code
> Securing windows and boarding and/or re-glazing windows when necessary
> Boarding and/or re-glazing windows when necessary
> Interior and exterior debris removal up to forty (40) cubic yards
> Removal of one vehicle
> Graffiti abatement
> Smoke detectors and all detection devices required by law
> Pest control (not to include termite or wood destroying organism treatment)
> Ready to show
> Initial lawn service up to 15,000 sq. ft. and shrub trimming and grounds maintenance
> Prevention of further moisture damage
> Sump pumps and pump outs
> Roof repairs (patching and tarping only)
> Cover electrical service panel and outlet covers
> Recurring Services
> Completed until the asset is sold or otherwise disposed
> Routine monthly inspections
> Re-inspections, habitability inspections, repair inspections, as needed
> Recurring janitorial maid refresh
> Securing and boarding as a result of vandalism
> Biweekly lawn cut up to 15,000 square feet
> Snow/ice removal in compliance with local laws
> Salting for ice storms
> Repairs as needed based on the results of routine inspections


Unless I'm missing something this does not seem at all like a good deal. How would this be any different than some other nationals offering a ~$600 flat fee but paying for maids, boardings, lawns, etc? In the end it'd probably be the same, if not worse because of the recurring services.


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## GTX63

There should be some test dummies that will take this on soon and report. We too have been apporached with these lifetime deals. Think about some of the recent dumps you have been inside and how long they have been sitting.....


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## BPWY

I'm not sure I'd be interested in that "deal" for even $2000.


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## GTX63

It may not be clear to some folks here when companies like Cyprexx or Safeguard are awarded a contract, how it is portioned and when they get their money vs when a cradle to grave contractor would get his...


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## Cleanupman

I know a couple people that are going to their "training" and as I get information I will post...
Myself....very high risk...very risky...I might consider consideration if it was 20 yards vs the 40 but still I would be very hesitant to commit to the life of the property...that would definitely have to be amended to 1 year...

Again as most have stated this is not a good deal at all.....for us that is...
It has to be good for VRM...............


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## Valley

If i wanted my money held hostage, i would give it to my wife.Anyone one who would agree to that is not thinking clearly.

We turned them down If i wanted to whore myself out at least i would do it in a way i would enjoy.

These companies that do this kind of stuff have no respect for the contractor. To even suggest something like that is ass-nine.That would be like letting a customer on a soffit and siding job hold on to a percentage of the balance for five years to see if they are satisfied with the job.


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## 68W30

i have some properties in inventory for more than 4 years no way


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## Valley

68W30 said:


> i have some properties in inventory for more than 4 years no way



If i had properties like that i would get paper on each one to cover my butt


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## kcbnc

So I went to the training in Raleigh, NC. What a joke. $1000.00 flat fee, or so they say. 70% after all initials are complete and approved by broker. 20% at closing, and remaining 10% if you have never been late, and never a complaint from the broker. VRM pays within 2 weeks of completion, and they QC photos, but without broker approval on ALL services, no pay until corrected. The broker is your primary contact from eviction to closing. Sump pump needs replaced, vendor has to pay, as it is in scope for the vendor to replace the sump one time. All smokes and co's are vendor responsibility. Boarding, tarping, minor roof repair, you name it, it's your responsibility. Up to 4 wint. and de-wints are included as in scope operations. 40 CYD debris removal, bid remaining at $35/CYD. People acted excited, but I said it sounded like crap. I can make more by not cutting out the middle man. What do you think?


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## BPWY

What do I think?

I KNOW that any one signing on to this "deal" is going to get stuffed worse than any thanksgiving turkey has been stuffed.


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## kcbnc

That's basically what I told the COO and her minions after the training. I will stick with the same National I have been using, and will still work on the same homes as I would by going straight through VRM. I will get paid every time I go to the property and will not lose money. Oh yeah, grass cuts every 14 days and maid refresh on the same schedule all for the same money. Negative.


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## GTX63

kcbnc said:


> People acted excited


They were sheep...


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## Nightowl

Gypsos said:


> Used to be called Energy REO Solutions. Got the call and the app from them today.
> 
> Anyone got any other info about them?


I worked for them most of the summer and they still owe me money. They say they are 2.5 million in accounting behind. Only got half my money back so far. Great to work for but they can't seem to pay me. hmmmmm...


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## PropPresPro

Nightowl said:


> I worked for them most of the summer and they still owe me money. They say they are 2.5 million in accounting behind. Only got half my money back so far. Great to work for but they can't seem to pay me. hmmmmm...


In my book not getting paid from a company would make them 'not great' to work for. I'm kinda' weird like that though.:blink:


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## Cleanupman

PropPresPro said:


> In my book not getting paid from a company would make them 'not great' to work for. I'm kinda' weird like that though.:blink:


Me too....
eep your eyes open I'm currently collecting questions concerning liens for an upcoming interview with a very Prominent Lien attorney....Scott Wolfe...
If anyone has questions they'd like asked PM or post I'll grab them and send them in to be included in the interview


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## Nightowl

*Question For Scott*



Cleanupman said:


> Me too....
> eep your eyes open I'm currently collecting questions concerning liens for an upcoming interview with a very Prominent Lien attorney....Scott Wolfe...
> If anyone has questions they'd like asked PM or post I'll grab them and send them in to be included in the interview


Can you ask Scott if there is anything he can do to help me with Homestar? They aren't paying me. Thanks so much!


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## Neighbors property

Also not getting paid 60-90 days late. Per the agreement we signed pay was net 30 bull s#$ t. Close to 8000 in the rears come on we did your work now pay up and quit giving bs stories


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## Nightowl

Neighbors property said:


> Also not getting paid 60-90 days late. Per the agreement we signed pay was net 30 bull s#$ t. Close to 8000 in the rears come on we did your work now pay up and quit giving bs stories


Yea I am entering into a legal with them now. They are all liars.


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