Join Date: Oct 2018
Thanked 6 Times in 5 Posts
Discoloration (Mold Remediation)
Hey guys, I'm new here, and have been reading a lot of the information I could find on here. I'm new to working with Property Management Companies, specifically Guardian Asset Management. Previously they used me for a home junk out, which is what I specialize in. I mainly work for private individuals, but see no harm in working for companies that will pay me what I think I'm worth, I'm not one to low ball just to get a job, this is to feed my family and provide for a successful retirement.
Anyways, so Guardian was great the first time they used me, paid directly as soon as the job was complete, so no problems there. I'm having reservations about a mold remediation job they want a bid from me for. I have absolutely zero experience in mold remediation, so I want to hire a company, essentially making me a middle man, which I'm okay with as I do not want to be be held liable for an incomplete job. The one company that I've received a bid from so far is offering a 5 year transferable warranty, so I'm not worried about a charge back.
After the first job, Guardian told me that they take 20% of the bid, so to just break even, I need to charge a 25% premium, as they're going to take 20% from the total bid. What type of profit should I expect to make? Since I am simply a middle man, should I just add an extra 10% for myself? I really don't know. I'm hesitant doing this at all because I'm not in this to get other people work, and I was very specific when I signed up that I was looking for home junk outs. I'm comfortable in my niche, so much so that I recently quit my job to go full time in the business (I was already making more working for myself part time in the afternoons than I would make at my job.) Should I even entertain these jobs? They pay 30 days after the current end of the month, which means I would have to front the payment to the mold remediation company that completes the work, and after reading some of the horror stories about these companies not paying properly for "incomplete documentation" it makes me nervous that I would get stuck footing a bill on a $600k home, regardless the fact that they were perfect in paying me last time.
They have "pushed" to an extent telling me there's tons of work, from lawn cutting, lock changes, evictions, and other things, but I'm just not that interested in that. I'm good at what I do. It's why I can ask a premium price, and that I have only 5 star reviews across Yelp, Google, and Facebook. I strive for perfection in my business. Anyways, I'm just curious how everyone feels about things like this, and what experienced professionals that deal or have dealt with these types of companies have for input. I want to make money, and have built myself a comfortable life, but is it really a good idea to expand in this sense with these companies?
Thanks in advance for the advice!