Right now pretend you started your business, now you have to market it, who will you be talking to? Can't be the homeowner they no longer care will it be the Banks, Realtors, who?
Now that you said to yourself who is your target market for business, contact one. Tell them (as if you were already set-up) you are "BUSINESS NAME" and would like to offer your services for cleaning foreclose homes. See what they say. If they already have someone, then ask if you can send a business card should this ever change. Or if they want to talk, meet with them.
Test the waters before getting in or buying the pool!
My suggestion to start off with a business card, and drop them at every bank, realtor office, etc. keep your eye open. Contact Auctioniers. Have your pay scale information printed (only a handful) when you get the call. And when you feel you are ready to jump in then purchase until rent what you need, do not buy cleaning products in bulk until your ready.
Cleaning Foreclosure homes is a perfect idea for working with the current economy your working with the tide instead of alot of us working against it or catching us off guard and pulling us in.
But I would suggest to also keep your company name and mindset on growing towards also cleaning after events, churches, etc. then when the economy is stronger so will you.
A very wise person told me to Think Smart without spending. This is true especially now.
As with many things in life, the answer to your question is: "It depends".
What real estate market are you in? What's the rate of foreclosures in your community? Who are your main competitors in that environment? Do you have relationships already built with default processing companies? Keep in mind that the actual mortgage company that filed the notice of default could be 2-5 companies removed from the actual firm that's hired to clean the house. Making contact with the right folks responsible for hiring a cleaning company may be difficult if you don't already have a connection in the business.
What about your income & expense projections - or business plan? How's that coming along?
Feel free to contact me for more advice, and tough questions!
Regards, Steve Ontiveros Resource Business Partners, Inc. wefactor.com
With thousands of people defaulting on their mortgages, companies that clean up foreclosed properties are seeing an increase in their workload. The companies, contracted by banks, brokers and local governments, go out to clean homes so they look presentable and can be put back on the market.
Though many started as junk cleanup businesses, the economic downturn and the ensuing foreclosures created a business opportunity.
Now they offer a range of services, including help with evictions, changing locks on properties taken over by banks, providing cleanup maid services at foreclosed homes, stripping homes of old appliances, cutting waist-high grass and clearing garbage from yards, boarding up windows and doors if need be, and keeping an eye out for vandals.
Work peaked about a year ago, but is beginning to plateau.
Banks are taking longer to foreclose on houses, giving owners various options to remain in their homes.
The work can be difficult and dirty, as some foreclosures have rotten food in refrigerators, stray animals and graffiti .
In most cases, banks want the properties to be cleaned to the extent that they can be put back on the market.
They have to watch the money on this. They don't want it manicured, they just want it presentable,
I have just started my business Salvatore Realty Management and I do about the same thing you are trying to do with the foreclosures. In my experience so far, and I am located in Ohio, the banks and real estate companies want you to be licensed, bonded, and with workers comp. insurance. The business card is by far the best promotional tool of your business you can use for a start up business. Also, another low cost way of advertising is making flyers of your business and posting them in Hardware stores as well as walmart. I find that Contractors go to both of these locations and are bound to see your flyer. Always remember that education is key when it comes to starting a business. Know your demographic area and your target market.
I started my business cleaning foreclosed homes for both the banks and the reo agents about a year ago. We are very busy, I came across this thread and thought I would give you some links to get more information to get your business started, here are 2 good websites that should help you get going right away: The first site has a training guide that teaches you step by step how to start and run your business and the 2nd website is a huge network of Foreclosure Cleanup Business owners, it's free to join and I would definitely recommend it, many reo agents are on there to get work from. Good luck http://www.dreamstreetinvestments.com http://www.foreclosurecleanupnetwork.com