How to Make Money in Foreclosure Clean-up
It is no secret that with the economy turning, more and more people were foreclosing on their homes. With a drastic increase in the amount of foreclosed properties on the market, real estate agents and brokers across the country are struggling to keep up with the cleaning and repair demands. For those looking to start lucrative, recession proof business, this niche is a goldmine.
The best place to begin on the journey to starting your own foreclosure cleanout company is to contact banks and asset companies, who will contract the work out to you. Try going straight to the source, or alternatively, you can try contacting real estate agents. Real estate agents usually have lists of foreclosures that need to be cleaned before they go up for sale.
Be aware that some companies may require you to be licensed, bonded or insured before they will consider working with you. On the job, you will be expected to give quotes, estimate and even enter bids for jobs. This is usually provided once you have seen the property and have developed a better idea of the scope of work. There are many little jobs involved in cleanout of a foreclosed home. Some of them include rekeying, documentation, winterization, demolition and renovation. The more of these jobs you can perform or contract the more opportunities you will have.
It is beneficial to look into outsourcing jobs like painting, electrical and carpentry as these tasks usually require the skills of a professional. However, even when hiring freelance contractors, the startup cost for a foreclosure cleanout company is extremely low.
Working in the foreclosure cleanup industry is advantageous as well because they can be done full time or part time, as your schedule dictates. If you are currently working full time, this is a great option for a job on the weekends. Depending on the conditions of the houses, the jobs can be usually be completed in one day. This is an advantage because it means that you can complete more jobs in a shorter amount of time. The faster homes can be cleaned out the better. Use your businesses quick and efficient cleaning strategy and part of your marketing campaign.
A foreclosure cleanup business is a great endeavor for those looking for an unshakable small business opportunity. Not only is it virtually recession proof, but it is also a low cost start-up and most of the jobs can be contracted out, freeing you up to enjoy the business.
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by Sam Leccima and Shani Leccima
Work together-Inspire each other-and Nurture their spouse's skills and talents.
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