Foreclosures are found in every neighborhood across the US, currently there are over 3.5 million active foreclosures on the real estate market.
With this brings a huge new niche industry called the Foreclosure Cleanup Business “or also known as Property Preservation”. When homes foreclose by the bank, the bank must get these properties cleaned up before they can place them available for sale on the real estate market, and they must do this quickly as the longer the foreclosed home stays off the market, the more money the banks will lose on each property. Banks pay Foreclosure Cleanup Business’ very highly to perform these basic foreclosure cleaning services. And the need for more Foreclosure Cleanup Business’ continues to grow, we are now bracing for what is called the “Double Dip”, this is where homes will continue to drop in prices and distressed homeowners can not get these homes sold, many times unfortunately ending in their home being foreclosed. I decided to write this blog post as I get asked all the time how to Start a Foreclosure Cleanup Business.
Some of the positive sides to the Foreclosure Cleanup Business are:
- No Experience is necessary to start
- There is really no formal licensing other than a business license needed to start
- Very low set up to get started-many of the items you will need to get started you may already have such as lawn mower, cleaning supplies, etc.
- The high demand and amount of work available for Foreclosure Cleanup Businesses
- You can set your own hours as you will be your own boss
- Being Self-Employed and Working for yourself
- High Earnings-Many Foreclosure Cleanup Business’ are earning over $50,000 each and every month cleaning up dirty bank foreclosed homes
- You can resell items you have removed from the bank foreclosures and earn additional money
- You can get Foreclosure Cleanup work from both local Real Estate Agents “REO Agents are the ones you will want to market to-these are the real estate agents that list bank foreclosure properties” and all the National Banks and REO Asset Management Companies
- The Foreclosure Cleanup Business will be extremely busy for quite some time as foreclosures are expected to last for years, and there are always foreclosures-even when the real estate market turns around.
Some Great Resources for Starting a Foreclosure Cleanup Business are:
- The is a Great Foreclosure Cleanup Business Start Up Guide Online that you can download-it teaches how to set up your Foreclosure Cleanup Business, get your business license and get insured, plus get the Foreclosure Cleanup work. Here is there website: http://www.dreamstreetinvestments.com/Foreclosure-Cleaning-Business.aspx
- The Foreclosure Cleanup Network is a social network completely dedicated to the Foreclosure Cleanup Business and it’s completely free to join and network. They have great forum posts on tons of topics regarding the Foreclosure Cleanup Industry, Here is there website:http://www.foreclosurecleanupnetwork.com/
- The Foreclosure Cleanup Directory-This is the BEST source for getting Foreclosure Cleanup Work for your Foreclosure Cleanup Business. They market your Foreclosure Cleanup Business to the Banks, Asset Managers, and REO Asset Management Companies that hire Foreclosure Cleanup Businesses every month. Here is there website: http://www.foreclosurecleanupdirectory.com/
- Getting Foreclosure Cleanup Work-Getting Bank contacts for your New Foreclosure Cleanup Business, there is a great list of all the Bank contacts and Asset Management Contacts to help you get your Foreclosure Cleanup Business registered with online that we came across, Here is the website:http://www.dreamstreetinvestments.com/Reo-Asset-Managers-List.aspx
I hope this helps all of you out there looking to get into the Foreclosure Cleanup Business and wish you much success in your New Foreclosure Cleanup Business Venture.