Foreclosure cleanup is one of the unsurpassed businesses to start according to the “USA Today” article; ‘Trash-out’ firms clean up in foreclosure biz. It states: “Entrepreneur Magazine included a foreclosure cleanup business – Cyprexx Services of Brandon, Fla. – in its 2008 “Hot 100 Fastest Growing Businesses” list.”
If you desire to start a foreclosure cleanup business, following are five things you need to know going in.
1. Get Licensed, Bonded and Insured: Banks and real estate companies will require you to be licensed and insured if you own a foreclosure cleanup business. If you’re not, you won’t get work from them. And, as they hold the bulk of homes that need your services, you will want to make sure that you are.
Insist on
How much insurance should you get? Most require a $1 million liability policy, along with workmen’s compensation. Your insurance agent will be able to advise you on exactly what you need.
2. Consult with Various Contractors: In the foreclosure cleanup business, you will need the services of various contractors, electricians, painters, plumbers, etc. Before you begin, line up a few in each niche. Even if you’re skilled in these areas, it’s easy to get so busy that you will need to outsource work.
Contractor Tip: Subcontract to contractors who are licensed as well. For example, if you have to hire an electrician, the bank may ask for the electrician’s certification to ensure that wiring was done correctly.
3. Expect the Unexpected: In the foreclosure cleanup business, you never know what you’re going to get when you go into a house. There could be feces on the walls (more common than you may think), animals left behind (eg, an angry Doberman who rushes you as you enter the premises), or angry tenants who haven’t left yet.
So, prepare to expect the unexpected with your foreclosure clean out business. For example, never enter a property for the first time alone, knock on doors and rattle fences to see if an animal or person is present, etc.
4. Quick Turnaround: In the foreclosure cleanup business, banks and agents expect quick turnaround. Usually, they want you to start as soon as possible after your bid is accepted. Hence, as you’re preparing your estimate, keep this in mind.
Think about the diverse contractors you may have to hire and what their schedules are like. For example, if you can handle the painting, but you need someone to hang the sheetrock but your contractor can’t do it for three days, you will have to build this into your timeline.
Logistics can be a nightmarish in this business when dealing with subcontractors. That’s why you want to try to work with the same ones all the time. The more work your foreclosure cleanup business throws their way, the more likely they are to give your jobs priority over others.
5. Hire a dependable Receptionist: Many think of a receptionist as a lowly paid employee and don’t give much thought to who they put in this position. However, particularly in the foreclosure cleanup business, the person who answers the phone can mean landing a $10,000 job, or not.
Why is this? When banks and real estate agencies are calling companies for foreclosure clean up jobs, they are usually going through the phone book or surfing the internet looking for companies. If someone doesn’t pick up the phone, they’re off to the next listing – usually they don’t leave a message.
So, hire someone who is personable, reliable and professional. And, pay them well. For they are the front line of your foreclosure cleanup business.
To learn everything you need on how to start a foreclosure clean out business, log on to Start-a-Foreclosure-Cleanup-Business dot com.
May be reprinted with the following, in full: To learn everything you need on how to start a foreclosure cleanup business, log on to Start-a-Foreclosure-Cleanup-Business.com for 200 pages of first-hand information from the owner of a leading foreclosure cleanup company in Atlanta, GA. View the news video featuring the company here as well.
Article Source: http://EzineArticles.com/?expert=Yuwanda_Black
Tags: cleanup, fastest growing businesses, foreclosure
At present, the U.S financial system is at recession and a huge number of folks have lost their jobs. Several home owners who have taken home mortgage loans are no longer able to make their repayment and it has mainly contributed in the rise of the number of Foreclosure homes. The banks and the financial institutes in order to make up their loss ceased the homes of those home owners who default on their home loans. Today, there is abundance of bank foreclosures and government foreclosure homes that are vacant to buy. Foreclosure homes for sale have absolutely provided a great opportunity to those buyers to get their dream home that they would have otherwise find it hard to afford. As foreclosed homes for sale are available at a bargain basement priced rate of 40%-50% less than the market price of the home, it allows the buyers to save substantial amount money. Moreover, buyers and investors can sell the foreclosed home after buying it for profit. They can also keep renters for rental charges. It is also safe to buy foreclosed home as the bank owns the clear title of the property and the buyer have to deal only with the bank.
If you are one of the millions of folks in the country that can no longer hang on to your home for the reason that either your job situation has changed, inflation or some other destitution has hit you need to make some decisions. In very few cases you can get your mortgage adjusted by working with you mortgage company and trying to get it restructured. This unfortunately is not very successful yet although it should become an easier and feasible option.