a new article in the June 3, 09 from MSN Money writer Michael Brush indicate that there is a third wave of foreclosures still comes from the major borrowers ( ie those formerly "safe borrowers" with proper credit and fixed-rate mortgages) as a result of the loss of jobs due to the deterioration of the economy ( "to come: 3 and a wave of foreclosures").
The Article provides that, "that those borrowers who were behind on their mortgages or in foreclosure ratio has doubled in the first quarter of last year, to nearly 6%," and goes on to say that "credit predicted Suisseanalyst Rod Dubitsky last week that 8.1 million mortgages, or 16% of all mortgages, and will go into foreclosure over the next four years. the weakness of the economy, and the continued decline in housing prices and rising delinquencies among borrowers Prime Minister all but sure to be imprisoned " will march steadily rising, "he says," this is not great news for the economy, but the really good news for entrepreneurs interested in starting a business news foreclosure cleaning to clean and repair foreclosed homes for banks.
To put this in perspective, this means that there will be more than 2 million foreclosures in the year, and more than $ 2.025 billion up for grabs in the money that will be spent on cleaning up the foreclosed properties (since the average bill $ 1,000 + one for cleaning of these properties).
Let's take a look at how next mortgage could be setting yourself up to take advantage of this movement
prepare your company properly
if you want to be hired to clean or maintain the work, and will need to run your business as a professional. The good news is that you can create a business quickly and inexpensively, usually alone. Many people decided to establish a limited liability company (limited liability company) and because of the way quickly and easily it can be done, but you'll want to check with your accountant or other professional business to determine the type of business entity that's right for your personal situation.
If you decide to start a limited liability company, you can usually find all the documents that you need over the Internet from your state government website. And usually it will be called the branch you're looking for "Industrial Committee" or "Committee of the company" or something like that. Try typing in "starting a business + ______ (your state)." Anything ending in. "Province" is usually a good place to start because it refers to the government website.
Once your business appointment, you will need an Employer Identification Number (eye), which is similar to the social safety network for your business. You can register for one on the Internet: Type in "IRS" and "eye" in the search engine to find a link to register online.
Once you have your eye (which you can usually get online immediately), you can open a bank account work for your company. This step is very important too. In the excitement of things, and get a lot of people trapped in trading today after a day of business management and the use of their personal accounts to pay for business expenses. No, not just this casually accounting nightmare at the end of the year, but could provide problems for you with the IRS if you do not keep your personal and business finances separate.
Once legally set up your business, you may be required to register your business with the province or city in order to obtain a work permit to work. You can start by calling City Hall or the Office of the County Clerk to inquire about whether or not you need to City / County / State business license and, if so, how to get one.
So to recap:
1. Put up your business legally
2. Get # appointed and set up a bank account business
(3). Applying for a business license
4. If you want to do conservation work, and determine whether you need a Contractors License
get insurance
you absolutely must have an insurance commercial liability and workers' compensation insurance in order to run your business. Not only is the insurance necessary to protect yourself from liability and protect those that work for you in the event of a work injury, but many of the asset management companies not to do business with you if you do not meet their minimum insurance requirements.
, insurance is likely to be one of the largest costs for your startup, but most insurance companies will allow you to pay premiums on a monthly basis (rather than annual) basis, which certainly makes these expenses more affordable.
general liability insurance policies can cover the following: bodily injury, property damage, contractual liability, personal and advertising injury, professional liability (also known as errors and omissions (E & O) insurance, this coverage protects you and your business caused by litigation charges of professional negligence or failure in the performance of their professional duties your own) that, cars and compact cars is the responsibility and liability umbrella.
you want to talk directly with your insurance agent to get a better idea of the extent of coverage provided by a specific policy and one that is best suited to meet your individual needs
is required to secure workers' compensation in most states when you have a W2 employees, also require some states insurance to cover the 1099 Contractors as well. "Compensation (" workers in companies of workers ") covers medical employees, disability-related illness and injuries at work and work related to the head of the expenses.
in countries where there is no need to cover the 1099 contractors you need them to provide proof that they carry compensation insurance their own workers. Although it is tempting to turn the financial burden of maintaining the policy of the 1099 contractors, in all actuality, you're probably better off to bear the cost of compensation for staff workers "(W2 all employees and contractors in 1099). The reason is that it is difficult to find independent contractors only started to have their own policy. In addition, the industry has such a high turnover because if these restrictions placed on your independent contractors, you will waste precious time and lost revenue are trying to find a replacement in a hurry.
Here's a great tip: Sometimes you can get a "pay-as-you-go" insurance where your workers compensation insurance premiums on the actual salaries of your own, rather than the estimated amount. This is great for companies that are just starting out or have a fluctuating workload. Type in "pay as you go corporate workers" in to get results in your search engine.
The second party, we used the Farmers Insurance for years and have always had excellent customer service and great rates. Just Google "Farmers Insurance" for an agent in your area.
Foreclosure Cleanup for-service property preservation
As the name suggests as a cleaning Foreclosure, you'll be cleaning all the junk in the house (also called and "trashout or" scrap out "), as well as cleaning the interior of the house. there may also be required to remove the vehicles on the property. foreclosure cleanup companies usually also responsible for performing clean the scene, which includes hauling out any unwanted forward / back yard, cutting the grass trimming trees / shrubs.
clean the property over the services provided by the clean Foreclosure Company, while maintaining ownership company is also involved in the "lock" of the property and "protect" the property
here are some of the services that the company preservation may offer (Note that the real estate company to maintain in general will also offer cleaning services):
property insurance
Q inspections initial property is vacant
o changes Lock
Q ascent from windows and doors
o fix a temporary roof
Q swimming insurance pools
maintain ownership
o remove the outer debris
o remove abandoned vehicles (cars, boats, etc. )
Q internal remove debris (junk out)
Q disposal of hazardous waste
o interior cleaning services including carpet cleaning [remove
Q washing window / Graffiti
o Replacement window
o Services Swimming pool (drying and acid washing, preserving, etc.)
oversight Services Q lesions
Q Yard maintenance / landscape
o snow removal
O for winter
Q gutter cleaning
o pressure washing
Q carpet removal and replacement of
Q Balata / repair the floor of
o drawing
Q sheetrock / repair drywall
Q carpentry repairs
Q healthy repairs and replacements
O fire and mold remediation
fix Q fence
here are some things to consider when determining the services you want to provide:
generally does not require a licenseand Contractors company cleaning Foreclosure but likely required for companies to maintain the work of more than a certain dollar value (usually $ 500 - $ 1000 +). Sometimes this license can be obtained by attending the session and pass the test successfully in other countries, while the former, in the field of industry experience require verifiable.
insurance premiums tend to be higher on the companies that provide services to maintain as they are considered to be a "general contractor". However, the potential returns are much higher as to maintain services tend to run from a few thousand dollars up instead of $ 800 for each $ 1,500 of- Klnoot.
usually what people do is to start from the beginning only offered a foreclosure cleaning services and then when things pick up, they'll add items to maintain the list of services they offer. This let's them get on their feet in the door without having to spend a lot of money upfront when setting up their own company.
source the right equipment and tools
The great thing about the establishment of a foreclosure cleanup company that is a very low initial outlay as much of the equipment and tools necessary for can probably foreclosure cleaning foreclosures can be found in your garage:
o cleaning chemicals (ie, all-purpose cleaner and disinfectant, toilet cleaner and clean the windows)
o cleaning materials (broom, mop, pads rubbing)
o vacuum cleaner
Q garbage bags and shovels
gloves Q work and plastic gloves, disposable
mowers O decorations garden tools
Q wheelbarrow
and for small goods that do not have on hand, checking local dollar store. Prices can not be beat, and they usually have the same chemicals and cleaning agents, such as other retailers. Once you start doing some size, consider shopping for your supplies at Sam's Club or Costco to keep your expenses low.
You can also find used equipment in great shape (such as blanks) through circumvent your local Saturday morning garage sales / yard. If you have a "re-use" center or the Salvation Army, you might consider checking there also because they are often in the blanks and other equipment or yard sale for small tools.
for hauling junk, you have some sort of a big trailer and a car enough to pull it. If you do not have a truck and trailer, you can always borrow a truck and hire a friend of the U- Haul trailer or just go ahead and hire a moving truck from U- Haul. (Remember though that you'll be charged the daily rate plus the rate per mile when renting a moving truck while if you use your truck and just hire a towing a trailer, you have to bear all the daily rental price of the trailer.)
sometimes you have to be there is a need to clean up the property that you do not have electricity or water. In the event that there is no electricity, you'll need a generator to operate the vacuum cleaners and other electrical equipment. These can be rented at Home Depot or Lowe, a much better alternative to buy one outright, but if you're going to use it on a regular basis (new and one run you about $ 500 +).
to save expenses, it is better to rent the equipment at the beginning.
Once you get up and go, it may be useful to consider buying your own equipment. Check the online classifieds (like Craigslist, Kijiji and Backpage) used for trailers, generators, etc. You should also check with the U-Haul where they were selling some of the excess trucks recently.
stay safe on the job
as a business owner, you are responsible for maintaining safe staff while working on the job. Work safely is critical to the health of employees and the reputation of your business (and also keeps the low your premiums). It's imperative that you review safety issues before allowing anyone to work on the job - should provide both classroom and training in the field of safety at work of all new employees head.
now, it does not have to be anything fancy. You can spend 20-30 minutes reviewing safety policies, safe working practices and to answer any questions, then you need to do! Make sure you have people sign in and out of the meeting and that you documented the safety of the meeting took place.
It is also very important that you become familiar with OSHA safety standards and as well as health and safety risks associated with the industry so that you can keep your staff your safe and avoid accidents and costly fines. You can find Pocket Guide to OSHA construction safety (it's short and easy to read) on the main site (OSHA DOT GOV) by searching for the name of the report.
There is another way to protect your employees and your job is to make sure that you check references before you hire someone. Insists that it is a list of references is not relevant (ie not a mother, sister or best friend) and instead references list of previous employers or someone they know in a professional capacity. We are also drug testing and background checks - may seem paranoid to some, but the safety of our employees and property of our customers and our company's reputation is far more important than the risk of not spending $ 20 on a background check or drug test.
prices of services in your right
in the industry, the lowest price always wins tender (unless, of course, the lowest bidder has a track record of terrible failure to complete work which is completely non-professional and non-official, in this case the company has only committed to "reputation and suicide" and will never be hired again). Lenders do not want to spend any more than they have in these properties so you want to make sure that the price of your services, compared with the market going price (but at the same time, prices are so you still achieve big profits, and don`t leave any money on the table).
to clean foreclosures, most banks expect to spend between $ 500 - $ 1,500 for Klnoot] (trashout and the interior is clean and initial cleaning horizontal), but can be a little more or a little less, depending on your area. It is important to know that most of the lenders described as "price caps" for the maximum amounts they will pay for services.
also that if you provide preservation services, a great location and we 've This E used by the pricing we have to do reforms is Www.CostEstimator .com for the construction costs of market prices - you can get
a free 30-day trial (no need to enter credit card - it really is free!). There are more than 3000 items cost adjustment for more than 210 local and geographic regions to create your offer and you can add many others as needed. If you want to subscribe after the trial, it's only $ 15 / month.
services market
is true - "Nothing happens until someone sells something" ... and you will need to get out there and sell, sell, sell your business. Once you have a few posts, and you'll find that the word of the Declaration and referral and provide the mouth of a wide range of new business opportunities for you, but at the same time, you must do everything possible to let customers know that you exist.
a large part of the work will come from the relationships that you build with real estate agents ( "Agent"), which is listed bank owned homes (often referred to as REO listings). Often given the task of tender of cleaning and repair of new listings by the asset management company so you'll want to make sure agents in your area known recording company handles this kind of work.
There are a great way to find out which brokers on the list of your local and regional economic organizations is to go online to REO sites and "mine" the Principal Bank for contact information database of clients insertion (name numbers, phone, e-mail). It can be hard work, but definitely worth it.
Here is an example on sites REO bank to get you started collecting information broker
Wells Fargo (managed by the Prime Minister properties assets services): pasreo.com/pasreo / photo / pas_logo.jpg
NOTE: In order to get the information agent, select a state and click Search. Then, individually select each menu and click on the "Print ownership CVs report." (Such as name and agent, phone number and e-mail) will be created for each list and corresponding information in the Excel spreadsheet. You can access the page
remember to follow up with a phone call a few days later. Do not be shy to ask the broker if he / she had any work for you to bid, either - most of them very accommodating and willing to give the new company the opportunity to provide estimates. And try
function is another way to get out through a large asset management companies (also referred to as marketing and management companies, REO field service companies and property management companies). Basically, the lender says, "Well - I have thousands of real estate to get rid of here, the national asset management company ABC: clean, repair and sale of these properties for us." Will the national asset management company then subcontracted the work to clean up the mortgage and maintain the property of local companies. In order to work for these companies, which usually need to register your company's potential as a salesman. In many cases, this can be done online.
There are both positives and negatives associated with working for large companies. On the positive side, you are likely to get a few projects to work on at a time so it will be kept relatively busy. On the downside, they usually want you to offer "wholesale selling prices" and do not pay until 30-60 days after the bill for them to work. To work for one of these companies, however, it will give you the experience you need to go after more work.
includesother possible wholesale property investor clients (a group of investors who buy foreclosed homes at auctions and then sell them to small investors at a wholesale price), investors, and owners of real estate, property management companies, brokers, and so on.
You should also consider attending events such as meetings of local networks Chamber of Commerce meeting and any local investors in order to hand over the card and communicate with potential customers. Good luck and God guided you!
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