Mr. Tucci recently lent his expertise to a panel discussion group at the just completed REX conference in Fort Worth, Texas.
IRVINE, CA (PRWEB) June 14, 2013
In a constantly changing default services industry, it's important to not only have access to knowledgeable experts in their fields but those who are able to stay ahead of the curve at the same time. Samuel Tucci from US Best Repair Service is one of those guys. Mr. Tucci recently lent his expertise to a panel discussion group at the just completed REX conference in Fort Worth, Texas. Other participants were Dave Wendling and Eric Will of Freddie Mac, Brad Blancett with VRM Mortgage Services, Chad Mosley of MCS, and Steve Meyer of Safeguard Properties.
Among the many repair strategies currently trending in the default mortgage industry that Tucci weighed in on were:
- Leaving property “as is”
• Cost to fix is beyond the future value of the property
• The most important part of a field service company is a diligent assessment of property and estimate of repairs
• Compare BPO/appraisal against the cost-to-cure and the cost to rehab
• Most as-is cases are foundation/structure issues; wood rot; termites; property erosion; extensive damages due to utility – electrical, plumbing, HVAC
- Partial repair strategy: minor/some repairs only
• Tier just above “as-is”
• Improve curb appeal to reduce neighborhood blight
• Mitigate safety and hazard risks
• Ensure any code violations are cured
• Home meets requirements to fund as a conventional mortgage loan
- Rehab to sell
• Low, mid and high grade rehab to match neighborhood/community
• Maximize the return on property by investing capital into an asset. (Maximizing ROI)
• Fast turn-around times are keys to a healthy investment. Setting stringent time-lines for vendors will maximize this
• Minimizing costs with highly trained staff in project management:
• Keeping jobs on schedule
• Knowing construction costs
• Educated in construction work
All of these issues are of course only a small snapshot of Mr. Tucci's discussion. Real estate agents are always looking for new ways to better manage their REO properties. The annual REX conference is an excellent way for them to do just that. By providing access to knowledgeable experts in the field, The Real Estate Expo equips real estate agents with the tools necessary to stay profitable in an ever-changing industry. US Best Repair Service has long been a leader in the default mortgage services field and with company team members like Samuel Tucci, they'll continue to be leaders in the field for a long time to come.
U.S. Best Repair Service, Inc. (US Best Repairs) CEO Mark Zaverl also attended the REX conference.
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U.S. Best Repair Service, Inc. is a privately owned and operated field services and construction company specializing in inspecting, protecting, repairing, rehabbing and maintaining properties for the default mortgage servicing industry. Based in Irvine, California, “US Best Repairs” services pre-REO and REO properties nationwide. Its mission is to provide extraordinary service at every opportunity, by exceeding expectations of timeliness and quality, at the best pricing in the industry.