How to Start a Business Cleaning Out Foreclosed Homes

Learn How to Start a Business Cleaning Foreclosures

With Foreclosures are at an all time high-many successful entreprenuers are looking to cash in on this booming foreclosure cleaning business. Learn here step by step how to get your new foreclosure cleaning business started right away and get up and running immediately. This business has been showcased on Oprah, 20/20, and many news stations across the US! The foreclosure cleaning business (or better known by the banks as the Property Preservation Business) has surged with the tsunami of foreclosures that have rocked this nation. Literally in every neighborhood across the US there are homes foreclosing daily, and each and every one of these homes will need to be cleaned out, repaired, and maintained for the banks in hopes of them being able to relist these homes for sale. And time is money with the banks, the longer these homes sit uncared for, the more loss the banks will incur. Banks and REO (Real Estate Owned) Agents desperately need more vendors to assist them with these foreclosure properties. The need for Foreclosure Cleaning Vendors (Property Preservation Vendors) is astronomical! Here are the top steps you will need to do to get your new foreclosure cleaning business up and running. We also have provided some links below that will help you greatly.

Things You'll Need

• Computer
• Internet Connection
• Cell Phone
• Fax
• Copy Machine
• Scanner
• Clip Board
• Digital Camera

Instructions

1. 

   Step 1. You will need to set up your business. You will now need to decide what form you would like your business to be (ie. Sole Proprietorship, Partnership, Corporation, or LLC). This is your starting point, then you will need to decide on a name for your business, choose a name that describes the services you are offering. This helps the Real Estate agents and REO Asset Managers at the banks remember your business name easily-this will greatly increase the amount of work you will get.

2. 

   Step 2. Develop a business plan. Every business should have a business plan! There are some good resources such as SCORE that offering softward to help you create a business plan for free. Take advantage of these services.

3. 

   Step 3. Get a business license. You will usually go down to your local City or County Department and apply for a Business License, you may also need to apply for a Fictitious Name for your business, these usually don't run more than $100 for both. Once you have gotten your business license, you will want to go to your local bank and open a business bank account.
   Step 4. Next you will need to get quotes for your general liability insurance. The banks require all Property Preservation Vendors to carry general liability insurance. Always get at lease 3 quotes, these quotes can significantly vary, so to achieve the most cost effective insurance, our recommendation is to always get at least 3 quotes.
   Step 5. Now you are ready to sign up with the Banks and REO Asset Management Companies. Get a good Bank Contact list and Start Registering with them all. This will provide you plenty of work. Another avenue for receiving contracts is to contact the local REO Real Estate Agents, they are usually very easy to find-they are the Real Estate Agents with the most listings right now. We provided a link below to get a huge list of the Bank contacts for you to get started.
   Step 6. Learn how to price your foreclosure cleaning bids. This is a science, but there are many techniques to use. The biggest tool you will use is the HUD guidelines tables, you can get them at the link below in the training guide.
   Step 7. Join the Foreclosure Cleanup Network! This is the #1 site for Property Preservation Vendors and Business Owners to connect and network and there are many REO Agents on this site. It's absolutely free to join and network, so take advantage of this!
   Step 8. Now you received you first job, go out to the property right away and provide your bid to the Bank or Real Estate Agent right away, Banks score their vendors and by being very quick and efficient you will get alot more contracts. Once you have completed your job, submit your invoice right away for payment, this will ensure you receiving your payments in a timely manner.
   Step 9. You just received your payment in the mail-head to the bank and deposit your earnings. Once you get started, you will have checks coming in regularly all the time-this is the best part of this business!

Tips & Warnings

• Visit our website below, we provide our Top 5 Tips to Successfully Start your Foreclosure Cleaning Business

• Join the Foreclosure Cleanup Network

• Advertise your Property Preservation Business on www.propertypreservationdirectory.com for the Banks and REO Real Estate Agents to Find you and request your services

• This business is hard work, be prepared to work

Resources

• TOP 5 TIPS TO SUCCESSFULLY START A FORECLOSURE CLEANING BUSINESS
• TRAINNG GUIDE-START A FORECLOSURE CLEANING BUSINESS
• HOW TO MARKET YOUR FORECLOSURE CLEANING BUSINESS
• FREE-JOIN THE FORECLOSURE CLEANUP NETWORK
• ADVERTISE YOUR BUSINESS SERVICES ON THE PROPERTY PRESERVATION DIRECTORY TO GET REO AGENTS & BANK ASSET MANAGERS TO CONTACT YOU
• BANK & REO ASSET MANAGEMENT COMPANIES BANK CONTACT LIST-GET FORECLOSURE CLEANING CONTRACTS