Comments on: Cracking Kondaur

By: Nesli

Nesli — Sat, 04 Dec 2010 15:25:12 +0000

I have worked with Kondaur numerous times as an agent as well as an investor and I must say that they are a great company to work with. Obviously some hot deals (on the investor side) are hard to negotiate with, nevertheless, I do believe for the most part they are fair and they do have to look for their own best interest as well. Althuogh I have not seen activity as an agent lately, and have been lacking in good note deals, I would recomend working with Kondaur without hesitation,.

By: Christine Axsmith, Esq.

Christine Axsmith, Esq. — Wed, 10 Nov 2010 14:32:18 +0000

Kondaur Capital Group is engaging in illegal practices. Buying a note from them, these days, constitutes a high risk of eventual litigation. I’m sure it used to be a good risk, back when you could steal a home with impunity. No longer the case.

By: Vincent

Vincent — Fri, 14 May 2010 17:53:22 +0000

Did anyone have contact number for Asset Manager at Kondaur?
Our group of investor want to start out of 20 million dollar first and if it went well than we move forward.

By: AreaMan

AreaMan — Tue, 16 Mar 2010 14:57:28 +0000

Any updates on Kondaur?
Has anyone completed any deals with them?
Were they easy to work with? Reliable?
Did you make a profit?

Will you work with them again?

Anyone?

By: ANON

ANON — Sun, 21 Feb 2010 23:56:03 +0000

I was called by an asset manager to possibly list a property in Florida. After a BPO, 60+ photos of the unit, I changed out the locks and sent them the bill. They wanted for to order painter, carpet and cleaning for the unit. Minded I do not have any thing as a listing agreement, contract, addendum or zip stating I have permission to do so. I also do not have anything from them stating that I will be paid back promptly or the vendors I am having to do the work will be paid back promptly. I only have a promise of a (1 month) listing agreement that I do not have signed and back yet. I have very uneasy thoughts about the way they treat the agents that they want to sell their properties. Asset manager is pushing me to have all this work done and I had to have my broker sign an addendum stating that they are not responsible for commissions, or any charges if they do not acquire the property though deed. I suggest do not fork out any money to clean up their properties without a written contract or listing agreement stating such.

By: Pam

Pam — Mon, 15 Feb 2010 02:37:10 +0000

I’m not sure what to ask all you seasoned REO specialists but I have several clients bidding on one of Kondaur’s assets. What is the best way to get one of them the property. I was just told by the listing broker that instead of the 72 hours they originally announced, I should get all my bids in immediately. My realty firm is not exactly what you’d call REO sophisticated. Any advice would be greatly appreciated. p.s. Kondaur, if you are out there monitoring, I would be glad to do free BPOs to get into the REO business. Just saying….

By: Veta P

Veta P — Sun, 17 Jan 2010 20:30:32 +0000

I am an REO realtor and provide BPO services for many asset managers. I am also licensed appraiser but do not work in that capacity, even though I use the skills when completing BPOs. I completed many BPOs for K. at one point, all paid, but minimal pay because they promised that my BPO will turn into listings – it never happened. I stopped evaluating properties for this company, partly because I felt it was waste of my time; partly because every time I completed BPO they call back asking for ridiculous information. They don’t care about actual value of the property in current market; they just want their paperwork to look good. They would request that I use comps that were 20-30% larger then subject, all fair market sales, extended market times anything to get my numbers to match whatever they have set as price for the property. I got really tired and frustrated explaining real market conditions and trying to make them understand basic rules of appraisal. I don’t believe that company with such attitude would bring any profits and I don’t think that it would benefit anyone having their notes in your portfolio.

By: Brett B

Brett B — Sun, 22 Nov 2009 22:17:15 +0000

I am an REO Realtor in Phoenix, AZ and I have been dealing with “Big Gorilla” for about a year. I was also at their headquarters and toured their facility in the Spring.

In my own dealing with the company I have found that they have run me ragged providing free BPO’s for them (more than 40 in my case) and rarely assigning assets (obviously they prefer to work paper).

By: Lucky

Lucky — Thu, 10 Sep 2009 02:01:50 +0000

Interesting……

By: KondaurRep

KondaurRep — Fri, 21 Aug 2009 17:21:41 +0000

Hi Dean,

Thanks for the positive input on Kondaur. I would be more than happy to discuss with you how we work, what we want to accomplish and how your note buyers can get the best notes.

Most of the initial notes the buyers have seen so far are from the “rock pile”. Every single new account executive starts with this. We are a young and growing company. I can give you more input to the process and how your note buyers can position themselves to get some great deals.

We have aquired 2500 notes so far. We are on track to aquire 20,000 notes over the next 9 months. We are in a massive growth phase, growing from 70 employees to just over 300 currently. We will have 800+ by the end of the 1stQ of 2010.

With this comes a bit of pain and confusion for new employees and note buyers. If you all understand this, it will save all parties heartache.

I mention this because if the notebuyer goes into the relationship this way and grows with kondaur, the profits would be incredible for your members. It will move your members to the top of the investor contact list quickly.

I will give you my Kondaur email address next week. I would like to keep an ongoing blog update with your site (changes, policies, our process, newly aquired notes) as long as we are not attacked.

I can’t stress enough, we will make mistakes and learn from them. As long as the members are respectfull to me, I will openly share any information as to the process and expectations of Kondaur, and how to complete a smooth transaction with us. In return, I would expect blog members to give constructive feed back as to what we can do for them. We are always open to new ideas.

Again, I appreciate your time and look forward to a profitable relationship for all parties.