In this article I want to share with you some important simple tips. To consider when starting your own foreclosure cleanup business. So a little Property Preservation business if you will know you might be asking yourself just how big is the demand??
Well, If you account for millions of properties foreclosed on since the year 2005 and the fact that lenders are currently backlogged with an estimated. 11 million more properties that are somewhere in the foreclosure process also known as shadow inventory. The prediction that 10 million more foreclosures will hit the market in the future you can understand why the demand has never been higher for qualified companies to come in clean and maintain the bank owned properties until.
They sell and this is where you come in and the good news there’s no experience required. Now what’s involved in this Property Preservation business well basically there’s some lawn and landscape duties that you’ll take care of some basic
cleaning some block changes, debris removal and significant other optional services that can put extra money into your pocket.
So the first thing you want to consider when starting your Property Preservation business is how will you set it up what legal entity we operate under and there’s a bunch of legal entities that you can choose from but the four most common are your sole proprietorship you S or C corporation which by the way that typically comes into play later on from now when you’re making a good deal of money you’ve got your general partnership.
Of course the most popular that LLC. I say most popular because most Property Preservation companies choose to operate under this. Because it provides typically the best layer of protection for your personal and professional assets. Okay??
So now let’s talk about how you get your customers okay that’s the most important part where do you find the work. They’re basically 35 national contracting companies that send out work all over the nation. It doesn’t matter where you are one or more these companies will provide work within your area. You also want to locate and start building a relationship with the local REO or bank-owned listing agents in your area and to tell you the truth here. There is not many advertising needed to do well in this business advertising can help give you a bump but it is unnecessary.
when we speak with our clients about their satisfaction, If they feel “we’ve met their needs” we feel emotionally connected with them. Because they have either given us testimonial they are happy with the tenant we’ve provided they say that’s the sort of tenants we’ve been looking for. It’s in their body language it’s the way they speak we know that they’re satisfied with our services. property preservation
I feel that in today and age that people will talk more about you, If they’ve had a bad customer experience if I feel I’m speaking to someone unsatisfied or unhappy.
The first thing I do is actually just listen to them I find in delivering great customer service that you do have to be attentive and do listen I find the more that I do listen and not interrupt the client and actually be more attentive to them. I actually get better feedback from the client or I’m able to help the situation a lot better. I like to let my tenants know that their needs are important to me and that they do matter I feel like, I have built a good relationship with all my tenants. That they’re happy to come to myself and talk to me and they have an understanding that i am here to help. When I speak to my owners and tenants, I do ask them what is important to them to rectify the situation and help them achieve their needs as a manager looking after our owners and tenants. I always think to myself what would I expect from someone I’m seeking service from i want to be heard i want to feel important. I always put myself in that position when I’m dealing with both owners.
Next you want to decide whether you’re going to operate with either employees or subcontractors or maybe you’re going to do the work yourself. There are pros and cons to each and you should get familiar with each of them but for example subcontractors usually can help. Offset costs because number one they have typically most of the equipment and supplies you’ll need to get going they own their own business and many the time they’re already skilled at a specific trade employee. However, they work for lower pay but you’ll spend more time in the beginning training and holding their hand as you get started next you want to make sure you have an appropriate resume or menu of services.
Now this is different from what you might be used to knowing about resumes you must know the industry language. You must include specific keywords that they’re looking for regarding services and specific turnaround times you’re going to use this resume to get registered with many the best national work providers and to introduce yourself to the local agents within your area so important to have that next you’re going to want to make sure that you understand how to pass the required test?? Yes, there are tests involved here and you shouldn’t forget about them because if you know the answers to the questions it becomes simple and that’s exactly what we provide for our students.
They’re required to get work so a good resource for you to take a look at is HUD gov. Most the information can be found there next you want to make sure you have the proper equipment I mentioned earlier. That subs usually have most of it and you probably have most it sitting out in your garage right now however if you don’t one of the best resources you could take advantage of is Craigslist many people are selling their equipment for inexpensive prices on Craigslist.
So check that out and finally you want to make sure to understand where to find the hidden profit opportunities. This is a tough subject in this property preservation business because many the property preservation companies that we work with even the newbies and all the way down to the people in this property preservation business for many years. They typically fail miserably at this and it’s something that you can do to put a lot more money in your pocket. Trust me!! Most property preservation companies are leaving a good deal of money on the table when it comes to this and the bank’s want to pay you for these little-known services because it helps them to sell the property faster. It helps prevent them from getting city citations on the properties okay??
“So, That” takes care of this Tips For Starting property preservation company article. I hope you enjoyed it makes sure you go blog menu & ready more and get so many tips.
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