FORECLOSURE CLEANING BUSINESSES ARE BOOMING!
With foreclosures at an all time high, one unique, niche business that is getting National attention is the Foreclosure Cleaning Business. This business has been showcased on popular shows such as Oprah, 20/20, and hundreds of news stations across the US. If you are looking for a new business to start or an additional way to make money, then Foreclosure Cleaning Businesses is perfect for you!! You can literally start this business Full-time or Part-Time and there is No experience necessary! This year alone there is expected to be over 3 Million homes foreclosed on nationwide and more are coming down the line. Bringing with it the huge need for all of these properties to be cleaned up, repaired, maintained, and prepared for resale. The banks rely on Property Preservation Vendors (Foreclosure Cleaning Businesses) to come in and clean out these foreclosed properties immediately after they have been foreclosed on. And they want this done very quickly in hopes of being able to relist these properties for future sale. The longer they stay off the market, literally the banks lose thousands of $$$! Starting a Foreclosure Cleaning Business is one of the easiest businesses to start and can be started very quickly! Here we will take you step by step start your own foreclosure cleaning business. We have also provided some very valuable links below to assist you in starting your foreclosure cleaning business.
Instructions
1. 1. Develop a Good Business Plan-This is crucial for any successful business. There is a free website that provides software to create a business plan, visit Score.org, this will greatly plan your new business.
2. Establish what business formation you will be using (ie. Sole Proprietorship, Partnership, LLC, or Corporation) and choose your business name. Choosing your business name is very important in this business, you will want a name that closely says what services you are offering and something easy to remember. When you choose a name that is easy to remember, the Banks and REO Agents(Real Estate Owned) Real Estate Agents will definitely send you alot more work. Then file all needed forms to get your new foreclosure cleaning business started.
2. 3. Apply for your Business License. You will usually go down to your local City or County Department and apply for this. It is usually less than $100. Once you have filed for your business license, go to your local bank and open up your new business account for your business.
4. Now you will need to get quotes for your general liability insurance, I would recommend getting at least three quotes to ensure you get the best deal.
3. 5. Get a good bank contact list, this will save you tons of time and money. Once you get a good REO Bank Contact list, register your business with all the banks to be there approved vendor. Make sure to include all zip codes you will want to accept work orders at, this is how the REO Asset Managers assign the properties, by the zip code of the foreclosed home. Another great tip~Always include your picture with your profiles, Asset Managers love to associate a face with a name, this will greatly increase the amount of foreclosure cleaning contracts you will receive!
6. You receive most of your work orders via email, so you will want to be linked to the internet, preferable on your cell phone so if you are on a job you can still receive more work orders and get to them very quickly. REO Asset Managers score their vendors upon their performance, if you do an excellent job and are always ontime with your work~the banks will literally flood you with work!! Remember, there is a shortage of Property Preservation vendors right now!
7. Now-you just received a work order and went out to the property and performed a bid for your services, immediately submit that bid to the banks, this way you will get an approval very quickly. The next day you get an approval, go out to property to perform your foreclosure cleaning services. Once all work has been completed, submit your work order to the bank and just wait for the check to come in the mail!!! Once you get started, you will literally have checks coming in constantly. Banks pay on average from $500 to upwards of $2500 per property. The average Foreclosure Cleaning Vendor (Property Preservation Vendor) performs 8-25 homes per week. As you can see, this is one business you can make alot of money in! Many Foreclosure Cleaning Businesses are making over $50,000 per month. Now is an excellent time to get into this business. We have provided some links below that will help you including a link to get the bank contacts.
Tags: Foreclosure Cleaning, this will, very quickly, your business, your foreclosure, your foreclosure cleaning
