A fertile customer base for new foreclosure cleanup companies can be the large property holding company, specifically those companies that handle multiple estates. These businesses will be larger companies that already have the business. You will contact them in an effort to find outsourcing work. Many perform a large number of property preservation activities, such as the following:
–Garbage Removal
–Yard work and tree service
–Re-Keyboard
–Chart
–House cleaning
–Debris and Trashouts Removal (Interior and Exterior)
–Pool service
–Hazardous material removal and pest control services
–Mold remediation and inspection services
–General Inspection Services
–Repair and installation of carpets
–Floors/Tiles, Repair and Installation
–General Contractor, Drywall & Stucco Repair
–Cabinet Services
–Electricity and Plumbing Services
–Roofing, Masonry and Concrete Works
–Repair/installation of doors and windows
–Heating, Ventilation and Air Conditioning
–Winterizing
–Etc.
Services to which you must contract: As a smaller foreclosure cleanup company, you may only offer some of the services that larger companies seek contractors for. For example, you may not offer winterization or lock changing, but you may specialize in debris removal and lawn care. Alright; You can still apply to become a provider that offers only the services you are set up to perform.
Many of the online foreclosure cleanup applications have checklists where you can simply indicate which services you are interested in handling for the larger company.
What’s in a zip code? Most of the larger formal businesses will ask you to specify which areas you serve based on the zip codes in your area. It may be tempting to list all the ZIP codes for the surrounding counties. But don’t. Please list only ZIP codes that you know you can comfortably serve, or you may feel overwhelmed.
Go to the US Postal Service website and click ZIP Code Lookup (by City) to find all the ZIP codes in your city and narrow down the areas you want to serve. Once you have the list of services for your ZIP code, you’ll need to refer to it often, so save it to a file on your computer for easy access when filling out foreclosure cleanup applications.
License and tax ID? Are you all set to target the biggest companies for the foreclosure cleanup job? You will need to be properly licensed as a business and will need to submit tax identification information to the largest business to be considered as a provider.
Business insurance: Also, there are often strict insurance guidelines when looking to become a subcontractor for a larger property maintenance company, so pay close attention to individual requirements.
Liability Coverage: To get you started, here are some basic liability insurance limits to consider, at a minimum:
Each Instance: $1,000,000
General Aggregate: $2,000,000
Product Added/Completed Operations: $2,000,000
Workers Compensation: Many of these larger companies will also require workers’ compensation insurance, which can be expensive for a new business owner, but many will not require proof of workers’ compensation until they are considering sending you work.
How to find larger property preservation companies: Below are some key phrases to research on Internet search engines to help you find larger contractors that specialize in foreclosure cleanup work. Go to search engines like Google, Yahoo, Dogpile, AltaVista, etc. Start looking for these keyword phrases:
–property management companies
–property preservation companies
–asset management companies
–mortgage field service companies
–real estate management companies
–property management companies
–maintenance and management companies
–REO management companies
–field service companies
–private mortgage insurance companies
–REO banking departments
–asset management departments
–mortgage services
–REO Departments
–asset management branch
–property disposal companies
As you search, you’ll have to go through a lot of unrelated websites, but eventually you’ll come across some viable companies to target.
It’s a numbers game: Don’t stop at one or two requests from foreclosure cleanup providers. Sign up with as many larger companies as you can find so you’re oiling the pipes for future business.
Good luck with your foreclosure cleanup business!