By learning how to start a foreclosure cleaning business, you’ll stumble upon opportunities in places where the current and future economies aren’t doing so well. Make sure that you understand fully what this type of endeavor entails before you jump into it.
In addition to general cleaning jobs, your business will have to remove all of the trash and debris that was left behind by whoever occupied the home previously. Unlike a standard home vacancy, the former occupants may have damaged the home greatly, left all sorts of items behind, and left the place in total disarray prior to moving out. While some homes which have been foreclosed upon may be in decent condition, others will be completely stripped, trashed, and full of useless items that nobody wants.
Tools of the Trade
When learning how to start a foreclosure cleaning business, it goes without saying that you’re going to need to have plenty of cleaning items like brooms, mops, vacuums, buckets, cleaning solvents, paper towels, etc. Investing in a reliable van or truck to transport all of your supplies to the location is a must. Of course, the vehicle need not be brand new, but it most definitely should look decent and be well maintained.
Display your company logo and contact information on the side of your van. This will work as an advertising tool for you. If one of the foreclosed homes you’re working on has an unusual amount of debris, you will need to rent a dumpster for easier removal. If you’ve got a crew, make sure to hire a few people who are able to lift heavy items.
Being Successful in the Foreclosure Cleaning Business
In order to become successful once you learn how to start a foreclosure cleaning business, it’s imperative that you are accurate with estimates and costs of jobs. Create a competitive bid, but not one so low that you’re taking a loss. If you happen to underestimate expenses, making a profit will be much more difficult.
Prior to contracting a job, make sure to look at the property and determine exactly what is required in order to return the property to a good condition that will make the home saleable. In some cases, the home might need so much work that you’ll have to hire on additional team members. Be sure to figure that expense into your bid.
Once you’ve secured a job, ensure that your contract specifies the exact services that you will be providing. After beginning the job, be positive that you have made good on all of your promises.
Since banks and mortgage companies are generally the ones who begin the foreclosure process, most people who learn how to start a foreclosure business believe that this is where their primary source of customers will come from. This assumption is wrong. Most banks couldn’t care less about taking part in any sort of real estate business, and they instead contract management companies and realtors who specialize in foreclosures.
These people are who you want to impress not only with your professionalism, but also with your cleaning skills. By researching your area, you can determine who the major players in the foreclosure market are. Arrange meetings with them so that you can explain why your foreclosure cleaning business is the best choice for them.
Once you learn how to start a foreclosure cleaning business and word gets out that you do a great job, you should stay quite busy, and you’ll be glad you took the entrepreneurial plunge!