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How the Foreclosure Cleanup Industry Has Changed: A New Property Preservation Model
The field services industry, which is commonly referred to as the “property preservation”, “foreclosure cleanup” or “REO trashout” industry, has changed considerably over the years.
By: Foreclosure Cleanup, LLC, Cassandra Black
The field services industry, which is commonly referred to as the “property preservation”
When the housing fiasco first seized the real estate industry, a great number of smaller foreclosure contractors entered the market. Many of these companies performed assorted field services tasks for REO and asset management companies across the nation.
A ton of larger, national entities were also part of the landscape that was fast becoming a burgeoning property preservation industry.
Entities such as Pemco, Sentinel, Cyprexx, Safeguard, Chronos Solutions (previously known as Matt Martin Real Estate Management), and the like, were direct components of HUD (“The United States Department of Housing and Urban Development”)
These larger companies hired smaller trashout services as subcontractors to handle duties such as lawn maintenance, property securing (boarding doors/windows)
Services were often performed on vacant houses, many of which mortgagees had walked away from after getting foreclosure letters from their mortgage companies.
Multiple Jobs and Contracts
Contracts and work order requests were received in numbers, and many small companies had to rush to hire subcontractors to assist with the overflow.
As a result, these smaller contractors made a ton of money in the property preservation and foreclosure cleaning industry at the height of the mortgage crisis.
A Changing Industry
“However, fast-forward five to seven years, and its evident the industry has changed, exponentially,”
“Things have changed so much, I knew it was finally time to pen an updated version of that first book,” Black continues. “I’ve updated it so mortgage field services businesses can learn how to maneuver within what has really become a new property preservation model.”
The New Property Preservation Model
“In recent years, foreclosure cleanup services have not only begun to target new key client bases, but they have also added a number of new very profitable field services and inked new necessary policies and procedures that work specifically for their businesses -- regardless of who they may be aligned with or working for, whether it be on a local, national or regional level.”
Where to Find the Updated Book: “How to Start a Foreclosure Cleanup Business, 2016-2017 (http://www.amazon.com/
The newly updated book, “How to Start a Foreclosure Cleanup Business, 2016-2017 Edition: Property Preservation Industry Guide” can be found on Amazon in Kindle format at http://www.amazon.com/
About the Author
Cassandra Black is the author of several foreclosure cleanup and field asset services books, guides, reports, and forms, as well as CEO of Foreclosure Cleanup, LLC, a job outsource and online consulting company.
She has also written a number of fiction works available on Barnes & Noble and Amazon. See http://www.amazon.com/
2015-2016 Master List of Property Preservation Companies Directory, 4th Edition: Foreclosure Cleanup and Real Estate Services Industry Guide, http://www.amazon.com/
How to Market Your Foreclosure Cleanup Business On a Shoestring Budget, http://www.amazon.com/
How to Start a Foreclosure Cleanup Business (Property Preservation Industry Guide) (first publication)
More Industry Publications:
Foreclosure Cleanup, LLC, Cassandra Black
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Page Updated Last on: Jan 05, 2016