PRLog - May 14, 2010 - This year there is expected to be over 4 Million homes foreclosed on nationwide and with this flood of foreclosures comes the booming need to have them all cleaned out. Foreclosed homes are many times left in deep despair and the banks need them cleaned up before they can attempt to resell them. The business of cleaning foreclosed homes and cleaning bank owned properties is booming right now! Foreclosures are expected to remain very dominant to at least the 3rd quarter of 2012 according to real estate economists.
Start a Business Cleaning Foreclosed Homes & Bank Owned Properties Now!
How do you get started Cleaning Foreclosed Homes & Bank Owned Properties?
You will need to get a Business License and General Liability Insurance. To get your business license, go down to your local city or county offices and apply. It's really that easy and usually costs less than $100 to get. For General Liability for your Business Cleaning Foreclosed Homes/Bank Owned Properties you should get at least 3 quotes from insurance companies for offering Property Preservation services. This will ensure you are getting the best deal for your insurance and save you money at the same time.
What is involved in Cleaning Foreclosed Homes & Bank Owned Properties?
There is literally a multitude of services you can offer to the banks besides just cleaning the foreclosed homes and bank owned properties. You can offer the normal services of cleaning foreclosed homes & bank owned properties (Better known as a Trash Out), banks pay on average of $500 to upwards of $2500 per property, some extremely huge trashout jobs can even go as high as $10,000. To other services you can perform to earn additional money is Rekeys( this is changing all exterior locks to secure the property), Boardups (Boarding up all broken windows & doors), Lawn Maintenance (Mowing, edging and landscaping services-this is very large as most properties need this service all the way until the property closes escrow), Winterizations (In colder climates, Property Preservation vendors do this so pipes do not break), and basic cleaning services to prepare these foreclosed homes to be placed on the market for resell. Banks have lost money on these homes and want these services done very quickly. When offering all of these services, you can easily make approximately $2500 per property or more and the average business that cleans foreclosed homes/bank owned properties cleans 8-25 homes per week. There are many businesses cleaning foreclosed homes earning in excess of $50,000 per month and the need for these foreclosure cleaning services is growing by bounds and leaps.
Who do you contact to Start Cleaning Foreclosed Homes & Bank Owned Properties?
You will need to get Registered with the Banks & Reo Asset Management Companies to offer your services for cleaning foreclosed homes. Once you are registered with all the Banks & Reo Asset Management Companies, they will place your business on their vendor's list and when properties foreclose on, they will assign you the work. You can also offer your Foreclosure Cleaning services to local Real Estate Agents that list the bank foreclosures.
How Much Money Does it Take to Start a Business Cleaning Foreclosed Homes & Bank Owned Properties?
Relatively very little money is needed to start the business of cleaning foreclosed homes & Bank Owned Properties. Many new businesses can get up and running for approximately $500. The Business License is only around $100 and General Liability Insurance ranges from approximately $400 to $1000 per year, however you can make payments and spread them out over the year with most insurance companies. Getting a Foreclosure Cleaning Business Training guide to help you get started is only $50. For equipment you will need, it is recommended to rent most equipment in the beginning until your checks start pouring in, this significantly saves your cash flow.
Where can I get Training and Hud Guidelines for my Business Cleaning Foreclosed Homes & Bank Owned Properties?
Here is a link that has a complete Cleaning Foreclosed Homes & Bank Owned Properties Business Startup Training Guide:
They also have an excellent Foreclosure Cleanup Business Ebook and Marketing Guides to Help you Market Your New Business Cleaning Foreclosed Homes & Bank Owned Properties, plus Reo Bank Contacts so you can start getting Foreclosure Cleaning Contracts fast. The Hud Guidelines are a must in this business, they teach you how to accurately price your Foreclosure Contracts and Bids for the Banks.
Here are a Few Other Top Links for the Business of Cleaning Foreclosed Homes & Bank Owned Properties to Help you Start & Grow Your New Foreclosure Business:
Join the Foreclosure Cleanup Network! The Foreclosure Cleanup Network is the #1 Social Network for the Foreclosure Trash Out Property Preservation Business, Network with other Foreclosure Trash Out Business Owners, Reo Agents, and more! And it's Free to Join & Network!
Make sure to List your New Business Cleaning Foreclosed Homes & Bank Owned Properties-Property Preservation Business in the #1 Property Preservation Directory! Platinum membership gets your information sent to the Banks & Reo Asset Management Companies every month!
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