***job opportunity***

Across the street from is a repossession company. The owner is a Great guy, and is looking for a couple of tow truck drivers.

Must be 23 or older
Must have clean driving record
Should have towing experience
Process serving experience a big plus

Must be solid, dependable and conscientious. Ex military also a plus.

He is willing to train someone, for a career opportunity if necessary. He has two positions open.

http://carsrecoveryla.com/

Ask for Chuck. Tell him Joe @ JMS told you about the position.

Good luck! :thumbsup

ttt

Last bump

Kind of a amazing that no one wants to be yelled at and shot at on a daily basis.:rolleyes

GRADS said:

Kind of a amazing that no one wants to be yelled at and shot at on a daily basis.:rolleyes

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I'd actually like to try t I just don't have any experience or a clean driving record [emoji17]

I did repo work for less than a week. F That! People be crazy!!!

Granted the "hunt" was fun.

Curious as to what repo work pays?

hallett21 said:

Curious as to what repo work pays?

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I've heard it's well but I'm not sure

hallett21 said:

Curious as to what repo work pays?

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In 1990 we got $200 a car if I remember right. I don't know if that was the norm as I didn't stay in it long enough.

Anaheim Hills and Pomona.

dread Pirate said:

In 1990 we got $200 a car if I remember right. I don't know if that was the norm as I didn't stay in it long enough.

Anaheim Hills and Pomona.

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What was a typical week?

hallett21 said:

What was a typical week?

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My roommate did this for years and when I got layed off he talked me into being his partner. Sounded good at the time.

9pm until you find the car. If you get one before 1am, you go after another. We would usually have leads and addresses from the bank or lien holder. Most of the time we had keys too. My buddy always had at least 10 cars he was looking for. Sometimes he would just drive around scouting and get to know where they are going to be and let the person get comfortable it was hidden before grabbing it. We did not use tow trucks.

This was before cell phones and the car was considered stolen until you made the call to the local police. Often the person was reporting the car stolen as we called. Officers would then tell them, "Oh, never mind, your car was repo'd." I got to hear that once and laughed my ass off. The next fucker shot at me...... I went back to bodywork after that.

This confirms my suspicions that we are back in 2007-2008. I have seen way more repo guys driving around and houses getting boarded up lately. [emoji16]

"You've been served!" :yikes

plaster dave said:

This confirms my suspicions that we are back in 2007-2008. I have seen way more repo guys driving around and houses getting boarded up lately. [emoji16]

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Ya! There are not as many HELOCs like then, but this time it's 0% auto loans on overpriced cars. If it's not one bubble, it's another. :rolleyes

Auto loan defaults are on the rise, as are high-risk "sub-prime" auto loans in general.

72 and 84 month loans used to be the exceptions, not the rules.

It's another bubble, because 17 million cars sales per year isn't sustainable relative to the ability of people to actually afford them.

I was at lunch the other day and saw someones car being repo'd. The sad thing was that the lady who had her car repo'd was out to lunch with a co-worker. Talk about humiliating..

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

BHC Vic said:

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

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Like virginity on prom night....

BHC Vic said:

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

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yup!

BHC Vic said:

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

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missing 1. no biggie. take 3 to 6 missed payments before it gets passed onto the repo guys. it's tough work. takes a special kind of person for sure. I've always loved hearing the sob stories from the people getting got. it's NEVER their fault. lol

BHC Vic said:

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

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you put that 20k in the dealership owners pocket not the banks.

BHC Vic said:

Question. Let's say I was unable to make the burb payment so they came and repo'd it. What happens to the 20k we put down? Is that just gone? Just curious

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Kind of. It's likely you're still way upside down on the Burb.

But if they were to auction it for more than what was owed on the vehicle I believe the difference is yours. Could be wrong but don't think they can double dip on the profits.

rivrrts429 said:

Kind of. It's likely you're still way upside down on the Burb.

But if they were to auction it for more than what was owed on the vehicle I believe the difference is yours. Could be wrong but don't think they can double dip on the profits.

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This^^^^ Don't ask me how I know.:grumble:

rivrrts429 said:

Kind of. It's likely you're still way upside down on the Burb.

But if they were to auction it for more than what was owed on the vehicle I believe the difference is yours. Could be wrong but don't think they can double dip on the profits.

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Damn that's hard to swallow putting 20k down on something and being upside down a year later [emoji17]

BHC Vic said:

Damn that's hard to swallow putting 20k down on something and being upside down a year later [emoji17]

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I doubt you are upside down on that new suburban a year later with 20k down and 8k in payments.

There probably still selling for good $$ as there in high demand.

No doubt there has been depreciation but I don't think it's lost 45% value.

Just wait til fuel prices go back up. See what happens to car values then.

NiceGuyEddie said:

Just wait til fuel prices go back up. See what happens to car values then.

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Used car prices are filthy right now. They are holding value unbelievably.

Cole Trickle said:

I doubt you are upside down on that new suburban a year later with 20k down and 8k in payments.

There probably still selling for good $$ as there in high demand.

No doubt there has been depreciation but I don't think it's lost 45% value.

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Banks aren't used car dealers, generally. It'll be auctioned. Auto Trader yes. Bank auction doubtful.

rivrrts429 said:

Banks aren't used car dealers, generally. It'll be auctioned. Auto Trader yes. Bank auction doubtful.

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I don't think Vic is having his new suburban repoed and auctioned. I bet you would still be surprised what a 2015 suburban 4x4 would auction for though...lol

On a side note I once dated a chick that had a ton of equity in a car and had it reposed after missing payments.. Even when I was 20 I thought that was retarded as she could have sold it before she fucked her credit and used the left over $$ to buy cheaper transportation.

I ditched her pretty quick after that...lol

Cole Trickle said:

No doubt there has been depreciation but I don't think it's lost 45% value.

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Totally agree.
i'd expect the value to dip to that level after 3 years, not one.

Cole Trickle said:

I don't think Vic is having his new suburban repoed and auctioned. I bet you would still be surprised what a 2015 suburban 4x4 would auction for though...lol

On a side note I once dated a chick that had a ton of equity in a car and had it reposed after missing payments.. Even when I was 20 I thought that was retarded as she could have sold it before she fucked her credit and used the left over $$ to buy cheaper transportation.

I ditched her pretty quick after that...lol

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It does sound kind of like we're saying Vic's Burb is getting repossessed, sorry Vic. Just using it as an example lol

I can't ever remember knowing anybody that's had one taken back but I can imagine that would be a mother fucker. Thankfully I'm pretty tight with my money but I can see how people can be caught off guard pretty quick if they don't have a backup in place.

Nowadays inflation hasn't kept pace with salaries. Both parents work and get pushed to housing in the Inland Empire. Then they buy a vehicle that pulls double duty being the weekend warrior soccer mom vehicle and commuter to LA during the week. Folks are one paycheck or health issue away from losing a vehicle.

Never researched it but based on per capita I'd imagine places like SoCal and NorCal have some of the highest repo's. Just a guess though.

Generally borrowers are entitled to any "surplus" funds as the result of a repossession, even with houses.

I have a client that represents a real estate Trustee. In a typical Trust Deed real estate loan, you have the borrower, the beneficiary [the lender], and the Trustee, who holds title to the property in trust, and ordinarily, once the loan has been paid, the Trustee releases title and files the Reconveyance to reflect the loan was paid in full. Or, if the borrower defaults, they conduct the foreclosure sale process from start to finish.

Anyhow, because of the rising value of homes, for the first time in many, many years foreclosed borrowers are getting money back since their homes are being auctioned for more than was owed against the loan. So, the Trustee has a legal obligation to try and return the "surplus of funds" back to the foreclosed borrower. Otherwise, the money escheats to the State, or in complicated cases, the funds are deposited with the court.

So I'm the guy who is sometimes called on to find the foreclosed borrower, which in itself is a difficult task since they are being chased by numerous creditors and generally don't want to be found. I knew that part, that it's tough to find somebody like that.

What I didn't know, was how hard it is convincing somebody that I am not a scammer, and that they are entitled to the money. It's worse than pulling teeth and I'm talking about tens of thousands of dollars.

For example, I had a guy from Chino Hills who was foreclosed upon and he moved to Germany. He is entitled to about $150K. But, because he's overseas and is a IT Security guy, it was a game of cat and mouse, me pinging his IP address to figure out what country he is in, trying to track email addresses etc. The guy was reading my email, but refused to respond. Eventually the client said "we tried" and now that money will escheat to the state. Can you imagine trying to claim $150K from the state....yeah, good luck with that. Not to mention the numerous "unclaimed funds" trackers that will hound him to such a degree that he will never be able to enjoy social media, or have regular email/phone numbers. Sometimes they're worse than creditors, lol.

Interesting to hear about the vehicle stuff...I had know idea but just this morning saw a ghetto looking regular dually converted into a repo truck - with no car in tow, he struck out lol.

Cole Trickle said:

I don't think Vic is having his new suburban repoed and auctioned. I bet you would still be surprised what a 2015 suburban 4x4 would auction for though...lol

On a side note I once dated a chick that had a ton of equity in a car and had it reposed after missing payments.. Even when I was 20 I thought that was retarded as she could have sold it before she fucked her credit and used the left over $$ to buy cheaper transportation.

I ditched her pretty quick after that...lol

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Girls with bad credit usually suck/fuck the best [emoji106][emoji106]

rivrrts429 said:

Kind of. It's likely you're still way upside down on the Burb.

But if they were to auction it for more than what was owed on the vehicle I believe the difference is yours. Could be wrong but don't think they can double dip on the profits.

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That's the way it used to work. My best friend from elementary school got in to repossessions right out of HS. Back when I was single and young, I would tag along and earn some extra money on the weekend. Grab the cars with the tow truck, drop them off at a park and ride and go get another one.

Back then they used to do crazy shit like take the rearends out of grand nationals and swap in worn out 10 bolts from a lesser Buick, stash cars, trucks, boats, motorcycles that were owned by out of state credit unions and buy them for pennies on the dollar because the bids were so low. Once a debtor failed to pay up they would take accessories like canopies, aftermarket bumpers, winches, amps etc off before the vehicle was delivered to auction.

It used to be a crazy business, with below average pay. Most guys do it because they love to work odd hours as well as the thrill of "hunting" people and vehicles.

Wanna know a secret??


























99 percent of the cars in his lot are....





















BMW.

Go figure. [emoji12]

My buddy does this for a living. It's pure comedy:cool lol

Its all about the equipment. He has a special truck with a lift that looks like scissors. It can lift and take a car quickly. He is in and out in seconds. The people don't stand a chance

GRADS said:

Kind of a amazing that no one wants to be yelled at and shot at on a daily basis.:rolleyes

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Being a cop has those same opportunities but pays better..

Dettom said:

Being a cop has those same opportunities but pays better..

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I'd like to do that too but kind of ruined that w some bad decisions.