Posted by Margaret_FL on 2/3/06 12:05pm
Msg #93825

New Inspection work update

Well, I think 2006 is going to be the best year yet. I have been busy and this is the first day I have not had
anything scheduled. The great thing about my new HUD REAC certification is I am listed on the HUD website and I do not have to market. Mortgage Servicers and HUD contractors call me. I am also set up as a Government contractor and I bid on government work. I bid directly with the government for the housing inspections. For example if I am the low bidder on a project and win the auction I get the full fee.
Mortgage Servicers and HUD contractors also have bid on projects and have won the bid and then they call
someone like me to do the job. Just like in the signing service business they tell you what they are willing to pay for the inspection. The only difference is I am a contractor also and I have access to the secure HUD system and I can see what HUD is paying them. Some properties are paying as much as $1050. I participated in the last auction and bid on properties in my town. You have 90 days to schedule and do the inspection. I am scheduling and filling up my calender for inspections today.

I am still doing Notary Signings but only the purchase condo conversion project. The developer is purchasing another project in my town and the title company only want to work with me. I tried to set them up with a friend of mine to do the closings in case I was doing inspections and the title company said
they were going to work around my schedule because they did not want to work with anybody but me.

So I will be doing inspections Monday-Thursday and hold open Fridays and Saturdays for Condo closings.
I did 9 closings last week on Thursday and Friday and made $1350. We have 10 units left to close on and
I am sure it will be a while before the other condo project is ready for closings.

I am so glad I made this decision. My phone has not rung very much for signings except for the desparate
Nations Direct for $40. They get upset because I just start laughing and can't stop.

Reply by MistarellaFL on 2/3/06 12:09pm
Msg #93830

Good for you Margaret! Glad it is working out well for you. I think we should all try your approach to answering Nations Direct in the same manner, it IS appropriate!

Reply by Margaret_FL on 2/3/06 12:21pm
Msg #93845

I have to turn my cell phone off while doinging inspections. HUD does not allow us answering our phone.
I usually put it on vibrate and answer my voicemail on a break. With inspection work, they leave a message until I can get back with them or they email me. It is not urgent that I get back with them same day. I get these calls usually when I am driving back home and can't check my caller ID, if I did I wont not answer but I get a good chuckle now and then

Reply by Margaret_FL on 2/3/06 12:48pm
Msg #93868

Re: Just got a 1099 from 1 inspection company

Woohoo, just got a 1099 from 1 inspection company for $23,365

Reply by Margaret_FL on 2/3/06 1:57pm
Msg #93901

I have been spending today as my administrative day. I have been on the phone leaving messages and speaking with property managers to schedule inspections and I am now booked through May 2. Now the property managers are going to work on getting their properties in tip top condition. I love it, I feel I am now getting the respect and pay that I deserve for my time

Reply by Jenny_CA on 2/3/06 2:25pm
Msg #93924

"I love it, I feel I am now getting the respect and pay that I deserve for my time"

Margaret, that is what it's all about, you feel valued are happy with your new career. Cogratulations on your wise decision!

Reply by Anonymous on 2/21/06 8:16am
Msg #98553

What exactly is a HUD REAC Inspection?

I'm a MD NSA and looking to expand my revenue streams.

Reply by BrendaTx on 2/21/06 1:14pm
Msg #98684

http://www.hud.gov/offices/reac/products/prodpass.cfm

New Anonymous Inspector:

If you want to expand you need to become a research maniac. I looked at your post, I inputted *HUD REAC Inspection* to the box on google.com.

That was the first link which came up. You need to read all of the info from HUD to understand what they expect. You have to do a very thorough inspection of certain types of properties. You have to have training--you have to be approved to go take the free training in DC. It costs a week of your time. For me, it would be too costly as I am not near enough to drive. I got the approval and then decided that it did not really seem like it would be worth it...however, I can still go at a later date.

To be approved you must have many inspections behind you, so I was told. I submitted my info and application - it was approved...then you have to go back and make a spreadsheet to list every inspection, who you worked for and what it was about, how many units it has etc.
In other words you must verify your experience.

I think it helps to have the ability to take MS/Visa.

If you really want to learn to do HUDs REACs - read that site closely.