Tuesday, January 5

Property Preservation Business Owner Operators: Evolve or Die...

As some of you may know, our Property Preservation repair business currently does $2+ million worth of Property Preservation repair work each year. Our office/ management work is efficiently taken care of by 1 full time and 2 part time employees and then we outsource 100% of all the actual repair work to our network of subcontractors.

This is not the management system I initially started out with. Like most small construction businesses, I was wearing several hats - hell, when I first started I wore ALL the hats: owner-operator/ accountant/ inspector/ estimator/ contractor/ subcontractor liaison/ babysitter/ etc. Many years later, I realize that type of business management where the owner does everything, is a recipe for failure.

Sunday, November 27

My Automated Solution To a Broken Hiring Process

Just about everyone who has owned a small business has had to deal with hiring other people. One of the most frequently used phrases I'm sure you have heard is that "it is hard finding good help these days". I used to say this quite often until I finally learned that I was using a broken hiring system. What do I mean by a "broken hiring system"?

Friday, November 25

REO and P&P Foreclosure Properties: 2 Different Types of Foreclosures In The Property Preservation Industry

Regardless of how it may appear on the surface, there is an extremely important issue that property preservation company owners need to know about, regarding the terms "REO" and "Property Preservation". These are two completely different categories of foreclosure properties within the property preservation industry. Most national property preservation companies only specialize in either one or the other or they will separate the jobs by using two totally different departments within the same company; i.e. 1 for REO property work orders and the other for the Property Preservation work orders. If you are thinking about starting a property preservation business, you better do your homework and learn about each of these 2 categories of foreclosure properties. Otherwise, you will be quickly introduced to the most aggravating thing in the world,... the Charge-back.

Tuesday, November 15

HUD Chooses New Property Preservation Estimating Software Provider

The Dept of HUD has just adopted a new online property preservation estimating software provider to verify pricing on bids they receive for property preservation, maintenance, and repair costs on all FHA single family homes.

How does this help you?

Friday, October 28

Access Our Free Bank and REO Asset Manager Contact List

One of the easiest parts of running a property preservation business is getting work. Most of the websites out there want people to believe that cold calling REO asset management contacts is the best way to go about attaining new business. Based on our 5+ years experience as a property preservation business and 14+ years experience in other related businesses, we have figured out that is NOT the case. Nonetheless, we decided to give away a free REO asset management contact list so that you do not have to invest any money learning what we already know to be true. Feel free to check out the page where we keep a frequently updated list of the most active National Property Preservation Servicing Companies.

Do Not Be Cheap When Learning How To Start a Foreclosure Services Business

I have met a lot of people who think that they can be cheap when it comes to educating themselves about what it takes to start a foreclosure services company. Even though the property preservation business is booming right now, the only way to succeed is to arm yourself with good quality knowledge about running a business and about the more specific duties that you will be expected to provide. Your ultimate goal should be to speed up your learning process so you can condense decades of knowledge into days. 

Forclosure Clean Up Product Review: Foreclosure Cleanup Network

I really dislike saying anything negative about people. But I have no choice in this case as I really feel the need to warn everyone who might be searching for information about property preservation so that they don't make the mistake of purchasing any of the useless products about property preservation that are currently offered for sale by the Dream Street group.

How Do I Contact An REO Asset Manager For Property Preservation Jobs

Many new vendors are clueless about the role of an REO Asset Manager, whose job it is to manage the re-acquisition, maintenance & repair, and ultimately the sale of each and every foreclosure property. Their goal is to get the property "off their books" as soon as possible because they are not in the business of owning property. Some banks have their own in-house REO asset manager department to expedite this process and other banks outsource the asset management of their REO properties to a completely different company.

Thursday, October 27

How To Solicit Property Preservation Business From An REO Asset Manager

     Before you attempt to contact any REO asset managers or REO brokers you will want to review some of the terminology that these people are used to hearing. We compiled a comprehensive list of property preservation industry vocabulary words that you must be familiar with so you don't sound like a total newbie to any potential clients.

Monday, October 24

Property Preservation Business Owners: Beware Of The Jack Of All Trades

Avoid hiring the "Jack of All Trades" contractor into your property preservation business even though he tells you that he can repair anything and everything. You will not figure out which types of jobs that he is NOT qualified to complete until it is too late.

Here's why...

Sunday, October 23

Property Preservation Company Cash Flow: Failure Is Certain If You Are Guilty Of This

Never spend the material money from one of your property preservation company jobs on your personal expenses before the job is finished.

Some call this the "robbing Peter to pay Paul" syndrome. Property preservation business owners are sure to fail when they start their foreclosure business without adequate operating capital and are forced to make decisions based on how much money they don't have. When the choice is made to start a property preservation company, you are officially giving up your right to receive a weekly paycheck for at least the first year. You will increase your chances of success if you start your property preservation company with at least 3-6 months worth of cash reserves or you have a decent sized line of credit to fall back on and also if you have educated yourself about managing cash flow.

Tuesday, October 11

National Property Preservation Company Vendor Applications

It seems like every forum related to property preservation that I read is filled with people who want to start a foreclosure cleanup company who are always asking, "how do I market my REO services company" or "how do I start a property preservation business". Well believe it or not, getting work is actually the easiest part of running a successful property preservation company. Many national property preservation companies have online vendor applications that are very easily accessible. We have provided direct links to several vendor applications for property preservation and REO asset management companies at the bottom of this report. I suggest that you finish reading this article so that you don't put the carriage in front of the horse, so to speak.

The #1 Fatal Mistake Made By Failed Property Preservation Businesses
I feel compelled to warn you that those of us who have been in this business for longer than a few years know that the reason national property preservation companies are always accepting new vendor applications is because

Sunday, September 4

Foreclosure Cleanup Scam- Part 2

I have purchased just about every single property preservation training book that is currently available for sale. Some of you will know it better if I use the term foreclosure cleaning business. Most of the courses were worse than I ever imagined. A couple were decent and one was really helpful. I figured that instead of considering it a financial loss the least I can do is try to save someone else from wasting their money by writing about my experience. Because unfortunately, most of the training courses that were written specifically about the foreclosure cleanup business are based on complete and utter lies. Just complete garbage. Now there are a few that provided real information about property preservation. The only problem is that the average person probably couldn't tell the courses apart solely based on the marketing messages that are presented to them.

Photo Inspection Checklist