Clay Lehman, Principal with Resolute Asset Management [1], recently hosted a webinar [2] for members of the Five Star Institute’s FORCE [3].
Resolute Asset Management mainly does business on the East Coast. In the webinar, Lehman discussed how to rehab properties productively—knowing reasons to complete repairs (in order to maximize value, reduce days on the market, and increase the pool of buyers) or leave a property as is (negative ROI, external obsolescence, though be as complete as possible when completing BPO so as much information as possible is given).
On BPOs by agents, Lehman said to use thorough comments, don’t be afraid to share your expertise, and “prevent the company from looking stupid” by covering all the bases—missed repairs, HOA approvals, municipal issues, and known property issues such as poly plumbing and oil tanks.
The technology used in the asset management process includes asset management platforms such as Pyramid Platform, Equator, Res.Net, and Taza. Lehman said to use these platforms to their fullest extent—complete your profile, with a picture, and find other asset managers on the platform. Other technology used includes productivity software such as G-suite for business, because it is easy and sharable (Google Mail, Drive, Docs, Sheet, Slide, Calendar, and Hangouts), Evernote, and Batchphoto (helps provide inspection photos, adding date, time stamp, and resizing).
For working with Resolute Asset Management, Lehman said there are no specific certifications, you must be active in Pyramid and have some level of REO experience, experience in area and asset type, marketing skills, area and subject expertise, a contractor network, and flexibility in workflow.
Click here [2] to view the webinar.