Published Content: 76
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On AC since: 04.23.07
Bio:
Business Owner, Real Estate Investor, Realtor, Landlord, Author
Education/Experience:
FIT, NYC
Motto:
Life rocks -- if you let it!
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Following are the five mistakes most small business owners make. Avoid them and watch your foreclosure cleanup business flourish that much sooner!
A USP, or unique selling proposition, is quite simply the feature or features that make one business different from a similar business -- and, most importantly, how those features ultimately benefit the client.
Many foreclosure cleanup business owners may feel like there is no outlet for formal networking with businesses just like theirs.
Your county's local housing authorities can be good outlets for foreclosure and real estate cleanup contracts. As a small business in any area of real estate contracting, a gold mine in vendor opportunities is available.
One of the quickest ways to start a foreclosure cleanup business is to decide you want it, do a little planning, and jump right in!
You will have to be creative if you want to start a foreclosure cleanup business while still working a job. See below to find out how to successfully start your business while still working for someone else.
Landlords as clients can be fertile ground for real estate and foreclosure cleanup businesses. In this tumultuous rental market, landlords are an easy target for move-in and move-out work.
A foreclosure cleanup company can get solicitations from realtors, banks and larger property preservation companies to put in bids on various services. Let's look at a bid breakdown below.
Green cleaning is fast becoming mainstream, an expected option in certain areas of the cleaning industry. But whether or not this should impact your decision to add it to your foreclosure cleanup business is another story.
In certain scenarios, it may be necessary to buy instead of renting, but really weigh purchases carefully, especially in the start-up phase.
The call intake form may seem like it's not necessary. But it provides invaluable insight about your business, estimates given out, trends, effectiveness of advertising and public relations, and on and on.
A fertile client base for new foreclosure cleanup businesses can be the large property preservation company.
Sometimes as business owners, we get so mired in "running" our business, that we forget to make money at what we're doing. Consistently ask yourself, "What can I do to make money TODAY in my business?"
Here are some helpful tips to use when working with your foreclosure cleaning crew.
Put simply, postcards are a cheap, effective way to grow your foreclosure cleaning business quickly.
Real estate investors can be a very lucrative part of your foreclosure cleanup business client base. Reaching out to them can go a long way in growing your new business.
One frequently overlooked marketing method is face-to-face marketing. You can do this in a number of ways as the owner of a foreclosure cleanup business.
Many homes that have been foreclosed upon will not have electrical power. You can either walk away from these foreclosure cleanup jobs or equip yourself and still make a profit.
It is not uncommon for a small company to receive several work orders at one time. Unfortunately, they will dive into doing the work before dissecting the work orders carefully.
There are several forms of PR, but one of the most effective forms you can use for your foreclosure cleanup business is the writing of a press release.
In the beginning stages of your foreclosure cleanup business, you will be able to perform many of the jobs yourself. But, in a few short months, you will start to grow and will need to hire temporary laborers and subcontractors.
Are you thinking of adding property inspections to your foreclosure cleanup business' list of services? If so, know this can be a very lucrative aspect of your business.
Information like the FDIC's failed banks list is golden information to source as a foreclosure cleanup business owner or property preservation company.
Take precaution from the outset and use foreclosure cleanup forms with the proper clauses that will protect you and your business.
Here are some pros and cons to consider as you ponder starting a foreclosure cleanup business.
A good tool to use in pricing foreclosure cleanup jobs is HUD's pricing guidelines for property preservation type companies -- BUT, to use this tool ALONE can be a grave mistake.
Many adults are asking themselves if starting a business is the right way to go in these unfortunate times of layoffs, rocky real estate, and dwindling retirement accounts.
Failed banks can be a huge source of new contracts for smaller foreclosure cleanup businesses.
HUD is a large "money player" in the foreclosure cleanup industry.
Twitter, tweeting? What's it all about? In a word: networking. Twitter is a simple concept that allows people to stay connected using quick messages that can be viewed at Twitter dot com by pretty much anyone.
Subcontracting is a big industry, and, as a foreclosure cleanup business, if you're not tapping into it, you're missing a big piece of the money pie.
You don't have to spend six figures on an investment property in this market... you can buy properties for as little as 10K.
You don't need a year to plan and a stack of cash to start a business in a down market.
Some realtors are taking the bull by the horn and creating new enterprises that work in a down market!
HUD sells many homes at discounts to simply move them under several discount programs. HUD Dollar Homes is just one such program. So, what's the catch...
The foreclosure cleanup industry is booming, but new smaller companies have to price carefully to make maximum profit in this burgeoning new industry.
One of the biggest hurdles for new businesses is maintaining adequate cash flow to keep the business alive while you're waiting on the checks to start rolling in. You've already completed the work, now you're waiting 30, 60, 90 days to just get paid.
Times are hard, investors are struggling to keep what they have, and thieves, thugs, the dregs of society, are walking around in broad daylight ripping copper out of the walls of someone else's blood, sweat and tears.
I get this question a lot as the owner of a foreclosure cleanup company. New business owners are pumped with energy and excitement about getting into the hot new industry of foreclosure cleanup.
Here are a few free and low cost tips to set your business apart in tough economic times.
Ironically, in many areas, the growing homeless population is made up of people who have worked most of their lives, and these vehicles are simply one step before the bottom: the shelters and the streets.
Equipment, Supplies and Vehicles: Figuring Out What to Buy at the Startup Phase
Twenty six of the areas with the highest foreclosure rates are concentrated in the states of Nevada, California, Florida and Arizona. These are traditionally warm states, hot!
Places to find HUD homes and foreclosed homes for sale.
Have you hugged your properties lately? Happy "V" Day to those who get it and to those thinking about joining the ranks of us who do.
Don't beat yourself up about not having time to do everything. And, don't expect the men in your life to suddenly become June Cleaver because you've got a property to rehab.
Under estimating the cost of supplies can kill a rehab budget. Here are some basic "supply" costs to consider and tips on how to save a buck!
Foreclosures are whamming areas you'd never think to see problems, such as the affluent Palm Beach, FL. The quiet storm, that we've yet to fully experience, is brewing in the "rate" of foreclosures in cities across the U.S.
Some "common sense" tips to keep you safe as you search for that next rehab!
A restrictive covenant is an agreement between members of a planned community.
The below will give you a rough idea of some of the contractor costs to expect when you pick up a property for rehabbing.
Real estate investing is still pretty much a male-dominated field, from lenders to rehabbers, but women are making tracks in this industry. As a lady investor, align yourself with real estate support groups so you have baseline mentoring, guidance and feedback.
A five bedroom Section 8 in Fulton County Georgia would yield a good monthly rental income of likely, at minimum, over a $1,000 (Section 8's average rent rate is based on several factors, including county, but the number of bedrooms is key).
There are toooooo many good deals out there to risk jail-time to make a fast buck. Not worth it... Don't take it out on the zip codes; take it out on the shady dealers and don't deal with them.
Hard money is not so hard to get (though it's getting tougher with the recent housing crisis and lending fiasco), but the interest rate can be a killer if you hold the property too long.
As an investor, you MUST know what's going on not only in the HOME, but in the AREA in which you invest.
As of Friday, May 9, according to the Georgia MLS website, there were 1,186 home listings in Fulton County (Atlanta area) under $50,000 (and this doesn't even include condo and townhome listings!).
Before you start investing in foreclosures, you need to look at a ton - AND I MEAN A TON - of properties.
Yeah, baby! As the landlord of a few rental properties, I opened the mailbox yesterday and pulled out my first Section 8 check.
If you have a burning desire to start a business, but have a full-time job, don't bury that passion. Go ahead, start it.
It's a tough, tough industry, on all fronts. But it can be done. Just go into it with your eyes wide open. Real estate is not a get rick quick scheme. It takes time and money.
In summer of 2006, I took an early morning tour to the cliffs, took my son for an afternoon coral reef excursion, and visited what I call Gilligan's Island, not too far from the beach.
I've visited Jamaica several times over the years, but, in the last few years, I've discovered a place I call my home away from home - Tensing Pen.
Here are a few invaluable tips if you're thinking about getting into rehabbing.
Though not an American-Idol, Dancing-with-the-Stars, Bachelor, Survivor, realty TV, competition-type fanatic, I found this show to be both compelling and inspiring.
Writing for the web is different from writing for print. If you're developing a website and don't quite know how to approach the style of "web" writing, here are four quick tips.
Nearly seven out of 10 youth are interested in becoming entrepreneurs. Yet, 85 percent of children are taught little or nothing about how business and the economy work.
Many full-time employees spend 40 to 50 hours per week in a cubicle or small office environment. When a person spends that much time in one place, it would seem the decor of that space would reflect their personality and personal style. Not true for most workers.
The footstool started out as something practical, but over the years it has evolved into something simply "decor".
Survey reports more women are having extramarital affairs today than ever before. One in five married women has had a fling -- the highest number ever recorded.
Frequently Asked Website Questions
Women are likely to have multiple-roles which brings on a quiet stress due to managing many different responsibilities. Common roles include being a mother, wife, professional working woman, and caretaker of the home.
About the Author: C-Murder grew up in New Orleans' Third Ward in the infamous Calliope Housing Projects. He began writing while serving a life sentence for murder. It took him two years to write Death Around the Corner.
Speaking with Eric Jerome Dickey
Does true love really exist? You know, the kismet kind. The kind that envelopes two spirits before they've even met; the kind Shakespeare must have been writing about in Romeo and Juliet.
The nuts and bolts of merchant accounts and e-commerce for the small business owner. What is it, how to get it, and how much will it cost.
 
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