Foreclosure Clean Up: How to Start This Biz and Start Making Money Quickly — without Spending a Lot
As we discussed at length in the last post here, 9 Million Homeowners Could Go Into Foreclosure Between 2009 & 2012. One of the first things a lender has to do when a property is foreclosed on is have it secured.
This presents an excellent opportunity for foreclosure business owners to get in this type of business — quick, start making money right away — and all without spending a lot of money. Why/how?
Starting a Foreclosure Cleanup Business — On the Cheap
Foreclosure cleanup business owners can offer a range of services - everthing from pool cleaning and draining to general contracting (eg, putting up walls, repair broken windows and cabinets, replacing tile, etc.). However, some services require skill (and tools and licensing and experience) that many who want to capitalize on this small businesss opportunity don’t have.
But, almost anyone can offer simple securing of homes.
All most lenders want done is for windows to be boarded up, and locks to be changed on doors. Following is a little more info about what HUD requirements are for securing homes. Note: All of this info is provided in detail in the Foreclosure Cleanup Pricing Guide.
Excerpt: HUD Requirements for Securing (eg, Boarding Up Windows and Doors) on a Home
When boarding is appropriate, all first floor doors and windows, including all basement windows and doors, should have plywood covering the entire opening and frame. The covering should be secured with carriage bolts. Eliminate any possible hazards that may be caused by protruding bolts used to secure boarding. The use of nails is prohibited.
A lot of the specifications from HUD for securing (and other types of work, eg, trashouts and debris removal) vary by location. All of this detail is provided in the Pricing Guide.
Hurricane Season in the Southeast — A Good Way to Pitch Banks/Lenders about Securing Homes
It’s hurricane season in the southeast right now. And, according to a June 2009 article on CarolinaLive.com entitled Securing foreclosed homes during hurricane season:
More than 280,000 homes [were] in foreclosure in coastal counties in nine southeastern states.
That’s only going to get worse as the foreclosure crisis deepens. Hence, it’s a unique way to pitch lenders and realtors about securing foreclosed properties they own/handle. You’ll get a leg up on the competition because it demonstrates that you are in tune with what they’re going through and what they need handled.
The bottom line is, if you want to start a foreclosure cleaning business — you dont’ have to start with a full range of services. Simple securing homes — a much-needed service for the next couple of years — can be an easy way to start this business — and start making some money right away.
P.S.: While the home foreclosure crisis has meant heartbreak for many, it’s meant opportunity for others. Read how one foreclosure cleaning business owner makes up to $40,000/wk.
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Copyright © 2010 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.