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How to get foreclosed home property maintenance

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  • #16
    I do lawns for a local property managment company that only handles forclosed homes, trying to resell them, I cut every other week, charge 1.5 times a weekly cut and make about 1K per month. The thing that s-cks is I will pick up one to five one week, and loose one or two in a few weeks. So the money is not always the same.. I only cut, and trim, do not do hedges, trees, clean inside the house etc. I will put all the trash in one place and he has his crew pick it up once in a while. Good money Not too much work Except the one I had this week, hasnt been mowed in a year, the cuttings piled up rather high.

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    • #17
      prop pres

      I have been doing preservation work for a few years now and imo its a pretty good thing. I have found realtors are not the way to get these properties. Either go directly to the bank or find a company and subcontract for them. We average over 600 cuts a month along with the other work involved also. Most do require a minimum of 1 million liability and e&o insurance and the work can get annoying at times with all the docs and pics required but with all the foreclosed homes there are it is a good money make. I do not travel more than a 100 mile radius for my work, normally only about 50 or so. i have completely stopped my residential cuts and m entirely doing preservation work in the summer due to the over abundance of it in my area. Hope this info help and I can give you more info if needed.

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      • #18
        Foreclosed houses are not worth your time. . . they dont pay weekly, they pay monthly. . and you have to take pictures up the AZZ .. NO PICTURES, then you dont get paid. . and there so picky on the lawn. . Stay clear. . . Most foreclosed houses a "property service company" will do. .because the banks have "MANY" houses and they usully want them all done by the same company in the area.. . so there only paying one company to do the work and not 15 dif. people. . just my 2 sence. .
        I have about $2500 worth of work waiting for me over the next few days, the only thing I need to do to get paid is do a good job. I do anywhere form 30-45 grass cuts every 2 weeks. Plus hedge trimming and tree trimming jobs that end up paying about $100 an hour. I will change locks and remove debris if I have to but I don't like it because it doesn't really pay as well. I average about $4000 a month after expenses just from foreclosure work.

        Not to bad for one guy and a lawn mower. If you are interested in this work google "property preservation" and start contacting companies. Watch craigslist they hire mostly on the spring. If they don't pay at least $25 a yard move on its not worth it. The company I do most of my work for pays $40 a cut. But I started out making much less, it worked out because I was able to learn how things worked.

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        • #19
          I actually am getting some help from a local lawn care company here in kc. They get around 30-40k a month just on cutting the lawns and doing 72hr checks. They average around 45dol a yard not to bad. Plus they do cleanouts in the winter and snow removal as well. They have 2 crews with 2 on each crew. still not a bad profit for a month.

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          • #20
            I have a Friend/Realtor that sets me up with the Foreclosure company.
            First Mow can very depending on what it looks like (Garbage , Tall grass dog Crap etc.) anywhere from $45.00 to $100.00 and then it a standard $45.00 weekly or $50.00 Biweekly.
            So far they have been good to me but you always have to remember they are short term work so you are always searching for more work.
            Your better off with three full season weekly mows the 12 one off repo jobs.
            But hey ya got to take what ya gotta to pay the bills.

            Good Luck
            Graham

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            • #21
              Either go directly to the bank or find a company and subcontract for them.
              What suggestions do you have when going to banks to look for this kind of work? Who would you talk to? Also, how should you go about finding subcontract work?

              Which is better, to work directly for the bank or be a subcontractor?

              e&o insurance
              What is this? errors and omissions insurance? What is that needed for?
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              • #22
                bad news

                we tried doing those and you are always being out bidded,plus they dont give you any warning about the problems with the people next door,you will loose customers due to those reo's.stay away.

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                • #23
                  plus they dont give you any warning about the problems with the people next door
                  What kind of problems have you run into?
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                  • #24
                    What kind of problems have you run into?
                    we have found that some owners are mad about loosing there house, that they throw nails and broken glass in the yards.then you get a bad rep due to most of the guys the contract to do those houses are drunks or junkies. not to say they all are but in fl we have a ton of people like that.

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                    • #25
                      Well it seems looking and acting professional would really help you stand out in this industry.
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                      • #26
                        WOW! I guess we have been lucky here in MI with our preservation work after hearing all your horror stories. We are in direct contact with either the bank that owns the property or a larger company that then hires us as subcontractors. I have never had an issue with being out bidded by any one due to the fact that when they give us the property it is basically ours until it sells. We perform the lawn maintenence, debris removal (int and ext) snow removal cleaning and anything else the house needs to be in the best condition to sell. We have removed several trees after large snow or wind storms, replace entire roofs and many other things. We average about 12-18k per month with just basically me and my wife with some occasional help when we get big jobs. From what I understand E & O insurance is basically an extension of gen lib ins that covers things like misrepresentation, negligence and errors and omissions in paperwork compared to the actual work completed. All in all I am very pleased with the preservation field and sadly I think it will keep us very busy for many years to come. As far as being drunks and such, I agree there are many bad companies doing this that are not only drunk at work but also rob properties and many other things. I had to do an inspection on a very large nice home (prob in the 2-3 million range) and had to winterize it a week later but couldn't because as i found out later the guy who mowed it went inside and took out every bit of copper plumbing. It give all of us who are professional a bad rep but it also gave me a very large plumbing repair at the lawn contractors expense. I have my companies name on all our vehicles and trailers as well as shirts made up with my company name and info as well as "PRESERVATION CONTRACTOR" on the upper back of it as well.

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                        • #27
                          Do you have any advice as to how to go out and find such well run companies that you can work well with? Do you think it was just luck on your part or is there more to it?

                          Are there any positive or negative signs you look for when first interacting with these companies to tell you if you want to continue further with them?
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                          • #28
                            I think its a little bit luck but when I contact a company or they contact me I do a little checking around on them and see how they operate. Don't get me wrong there are some bad companies out there that either just plain suck or try to operate above their means or plain just lie about things. We have had several that claimed to have several hundred properties in our area and when we start with them we wait a month or more for work and when we get it its only a couple properties. My best suggestion is to check out the companies before you sign with them and see whet type of reputation they have. Remember that even large companies such as Safeguarf, will always have negative things especially from people who can't perform to the high quality expected and get fired.

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                            • #29
                              If your thinking about getting reo work from a subcontractor make sure to do your homework. I did over 600 cuts last August and never received a dime. They would also throw over 100 work orders on me at a time and give me 2 days to complete them. It makes it hard to give your annual contracts the attention they deserve with such short notice. Also dont forget about the hours your going to spend on the computer posting pics with discriptions and property inspection forms. I was mowing at the crack of dawn and posting pics till midnight. Just be carefull

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                              • #30
                                Please help I am trying to find out how to get foreclosed holmes for mowing but im running into a dead end.whats the best way to do this thanks.
                                70% of my work is property preservation. There are 100's of companies that get orders from the bank and are desperate for dependable contractors to maintain the lawn. You do have to take before, during and after pics. Thats how you get paid. But its not a manicured cut. Some companies I work for pay $20 per cut. Some pay $50. Its not for everyone. But the massive work load is why I do it.

                                heres a few companies I work for
                                Premier Landscaping group
                                Southeast asset services
                                BLM
                                Universal Property Preservation

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