PDA

View Full Version : Foreclosed Home Maintenance


jklawncare
07-07-2011, 12:28 PM
Hey everyone, its been a while haha

alot sure has happened but im not going to get into all that, i have some questions/opinions that i need answered and where else to turn but here.

A guy called me the other day and he offered me 9 starter homes to manage every 10 days, they are set at his price, but its not a huge deal to me just because its not far off of what I would charge, and the amount of work hes bringing me, he also has more homes for the future if i request more work.

The guy is real interested, has no problem that I am 17 or uninsured however, he needs my social security number or some other state number showing that I am licensed, or to become licensed.

I've learned to never just hand out my SS number so i wont be doing that, but do you guys think that this would be worth me getting licensed? I plan on doing it anyways and this could be the turning point in my career that really launches off.


Typically i don't do snow removal because im in school and cant handle it but he only requires that it is done within 24 hours, so this would leave me alot of time to get it all done


What do you guys think? Should i take it? Is it worth the trouble and money of getting licensed?

Johnny_boy02
07-07-2011, 02:09 PM
Ask him why he needs your SS # if it is for tax reasons you should be the one to fill out a 1099 form not him.

Get legal and get a tax ID number. It will save you time.

jklawncare
07-07-2011, 02:40 PM
Ask him why he needs your SS # if it is for tax reasons you should be the one to fill out a 1099 form not him.

Get legal and get a tax ID number. It will save you time.

Thats why i need the advice, i will go through all the work myself. However, i'm not sure if i want to go through the trouble of it all, I'm on the verge of giving up the business because there simply isnt enough people to keep it worth my time, but this many houses dedicated year round at once could change my mind about all of this. I just need to get the tax ID soon so I came here to see if anyone has had any problems with this, and if its worth the time and effort.

Fisher
07-07-2011, 04:58 PM
http://www.irs.gov/businesses/small/international/article/0,,id=96696,00.html


This is where you can get which ever tax number you are seeking. You don't have to be in business yet to get it, and you should be able to print your number up immediately (you know the irs doesn't want you to have any reason to not have your taxes in order). The common I-9 form should be there some where as well. You will generally have to fill this out for any company that subs or hires work out to you. I would save a copy to my computer and print and fill out as needed.

When working for yourself or others liability is a big concern, all of my commercial or builder accounts require a minimum insurance coverage on both general liability and workers comp. Few even require that they are second insured on our policies to help protect themselves from our accidents.

Also insured or not I have a builder that will backcharge us for anything no matter how small that has to be repaired, replaced, or corrected by someone else even if we could remedy the problem we still learn about it through a back charge rather than having the chance to make it right ourselves.

Johnny_boy02
07-07-2011, 06:35 PM
Thats why i need the advice, i will go through all the work myself. However, i'm not sure if i want to go through the trouble of it all, I'm on the verge of giving up the business because there simply isnt enough people to keep it worth my time, but this many houses dedicated year round at once could change my mind about all of this. I just need to get the tax ID soon so I came here to see if anyone has had any problems with this, and if its worth the time and effort.


If you can get into foreclosure work it will help you. I have about 10 customers and I also mow foreclosures. Today I had 33 properties emailed to me. Before taxes I will make a little over $1000 from that list. Lists get mailed out twice a month.

If you add in the other stuff I do at some of the homes (lock changes, window boarding, inspections, etc) I will probably make $2500 this month just from foreclosure work.

It can be hard thankless work but I have been building it up for 5 months now and I am doing ok.

Stick with it.

Steve
07-07-2011, 08:39 PM
or some other state number showing that I am licensed, or to become licensed.

Does your state or municipality require some kind of license? Did you look into this further?

I'm on the verge of giving up...
...alot sure has happened but im not going to get into all that,

What do you feel has been keeping you from growing? Why are you feeling so close to the edge?

hounddog
07-12-2011, 10:48 AM
If you can get into foreclosure work it will help you. I have about 10 customers and I also mow foreclosures. Today I had 33 properties emailed to me. Before taxes I will make a little over $1000 from that list. Lists get mailed out twice a month.

If you add in the other stuff I do at some of the homes (lock changes, window boarding, inspections, etc) I will probably make $2500 this month just from foreclosure work.

It can be hard thankless work but I have been building it up for 5 months now and I am doing ok.

Stick with it.
watch out if it is mccafferty thet don't pay

Steve
07-13-2011, 03:59 PM
watch out if it is mccafferty thet don't pay

Did you deal with them in the past and how did you deal with them not paying issue?

hounddog
07-14-2011, 10:58 AM
Did you deal with them in the past and how did you deal with them not paying issue?

Yes i did and can't talk about it right now due to a court case sorry

Johnny_boy02
07-15-2011, 02:33 AM
watch out if it is mccafferty thet don't pay

Not them. So far I have had no issues getting paid. Some companies take longer than others but nobody has tried to screw me yet.

I did have a slight problem with one company not crediting completed work but it was a computer glitch and they sent a check the day after I inquired about not getting a check and their payments have been on schedule since.

July is shaping up to be my best month yet because of property preservation work.

Steve
07-15-2011, 09:33 PM
July is shaping up to be my best month yet because of property preservation work.

Are you finding that you can use these properties as spring boards into new neighborhoods? Do you market to the neighbors of houses you work on? Do you want to get more homes next to the property preservation jobsites?

Johnny_boy02
07-16-2011, 01:00 AM
Are you finding that you can use these properties as spring boards into new neighborhoods? Do you market to the neighbors of houses you work on? Do you want to get more homes next to the property preservation jobsites?

In a perfect world I would get the same properties every rotation but that is not the case. I am all over the map. I have managed a few new accounts from talking to the neighbors of foreclosed homes but nothing huge.

Right now I don't do much marketing. I am a member in a business owners group and the rest of my customers come from referrals or people that see my truck.

So no not really a spring board. But I benefit in other ways like learning the trade, being able to afford good equipment, and just being out and being scene.

I know the property preservation gig is not going to last forever but for now I am taking advantage of it as best I can.

mowman1970
07-17-2011, 12:21 AM
How do you get into home foreclosures and property preservation work?

Johnny_boy02
07-17-2011, 09:42 PM
search "preservation" on your local Craigslist. Or Google for companies in your area.

I have got in contact with all the companies I work with through CL.

mowman1970
07-17-2011, 10:17 PM
Thank you so much for your help. Was it hard to work with them? And did the accounts pay as they should have or did you have to hassle them to get your money? Again thank you for the information.

Johnny_boy02
07-18-2011, 01:22 AM
Thank you so much for your help. Was it hard to work with them? And did the accounts pay as they should have or did you have to hassle them to get your money? Again thank you for the information.


All of the companies are different. The first company I started with paid my $15 a cut. After taxes and expenses I made less than min wage. BUT I gained experience and learned a bunch of stuff. And when I contacted other companies I had experience to offer.

The company I get the majority of my work from now pays $40 per yard. The yards take me 20-45 minutes. I get 2 rotations of about 30 houses per month from them so 30x$40x2= $2400 a month for about 4-5 days work, just from one company. I contract with 5 but not all send me that much work.

I also do lock changes, widow boarding, small trash outs and some other things.

It take awhile to get the ball rolling but it is honest work.

I have had good luck getting paid. One hiccup with a company but it was a computer error and they sent a payment out the next day.