How Do I Even Get Started?? - REO Property Preservation Forum
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post #1 of 25 (permalink) Old 03-27-2013, 06:19 AM Thread Starter
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Post How Do I Even Get Started??

I have been receiving unemployment benefits for about 2 months, not looking to work for THE MAN again.. So Looking for Solid Advice on getting into this business....

How do I even get started in the Property Preservation business?? Who do I contact? Who should I network with?? what bank dept to call??
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post #2 of 25 (permalink) Old 03-27-2013, 06:50 AM
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Now is not the time to start a P&P business, its on the downward decline and the work is really starting to slow down.

My advice become a painter, its super cheap to start and this is the time of year everybody is looking for painters.
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post #3 of 25 (permalink) Old 03-27-2013, 07:07 AM Thread Starter
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I agree wit Painter, but doesn't it depends in what area you are in for the PP business to be in decline
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post #4 of 25 (permalink) Old 03-27-2013, 07:21 AM
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This business is on the end of its life cycle, I give it 3 more years and the work will be gone. Most companies are planning the next move.
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post #5 of 25 (permalink) Old 03-27-2013, 07:26 AM
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To an extent, but this industry has become a joke, most of us are just riding it out because we have the tools and know how, and we are pointing our businesses in another direction, using p&p as filler work, and we pick and choose who we work for anymore. Some have even quit already. Even getting in direct with the top nats is a headache, you may get a little more money in some cases, but is it worth it?

Unfortunately you will be forced to work for a small company probably recruiting on Craigslist, because the bigger nats already have their contractors in place. So you will be working for a sub of a nat, or sub of a sub, and the money will be very low. I turn down work weekly because it is a losing situation. You can try going to local realtors but with no experience they most likely wont be interested.

It really is too late to get in now and use this business as primary income, unfortunately.
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post #6 of 25 (permalink) Old 03-27-2013, 07:36 AM
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Marco,

I have to agree with the posts. I dont know where you are located but if I were starting "over" I would hook up with a large roofing company for the hail season as a salesman/estimator to learn Xactimate estimating software. Do this for 1 season then go to a restoration company (Servpro/Servicemaster etc) to learn and get Certified for 1 year. With that knowledge base there are many ways you can be self employed making a steady $75,000 & up.

The P&P business wont go away--there will always be foreclosures. The pay IS going away though. P&P just is not a viable business for 99% of contractors--the 1% are "lean and mean" and are in areas where there is lots of work and very little travel.

Good luck.
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post #7 of 25 (permalink) Old 03-27-2013, 08:26 AM
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I have been busier this year than any other and can barley keep up. But then again it is just me and one worker.. I have barley any overhead, I can see where this is an issue with a company with many employees and huge overhead. No doubt the prices are going down. I would think you could at least make more doing this than you could getting unemployment. You will need start up money, GL, tools, etc... It is possible to "survive" or "put food on the table" in this business. Get rich? No.
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post #8 of 25 (permalink) Old 03-27-2013, 09:22 AM
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I have been busier this year than any other and can barley keep up. But then again it is just me and one worker.. I have barley any overhead, I can see where this is an issue with a company with many employees and huge overhead. No doubt the prices are going down. I would think you could at least make more doing this than you could getting unemployment. You will need start up money, GL, tools, etc... It is possible to "survive" or "put food on the table" in this business. Get rich? No.
All this talk about barley is making Me want a beer!
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post #9 of 25 (permalink) Old 03-27-2013, 12:00 PM
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I have been busier this year than any other and can barley keep up. But then again it is just me and one worker.. I have barley any overhead, I can see where this is an issue with a company with many employees and huge overhead. No doubt the prices are going down. I would think you could at least make more doing this than you could getting unemployment. You will need start up money, GL, tools, etc... It is possible to "survive" or "put food on the table" in this business. Get rich? No.
Rich NO that was 12 years ago when I got into the business and it was a flat 29 a cube and the nationals were glad to have a vendor in the area. I did hear today that unemployment in the area was 10% so we are behind the ball as that goes and it signals me to hold on longer. Do some analysis of your current trends and follow the forclosure filings in your area. Realty trac is a great resource to use, DSNEWS is great to watch too. I have been requested to do a 1 million dollar home out of area for 600 with minimal debris NO the liability is not worth it.

BECOME AN LLC and protect your ASSetts. Even if you don't stick with it you will have what you put into it in the future. Sole Properitor HELL NO
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post #10 of 25 (permalink) Old 03-28-2013, 06:10 AM
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Quote:
Originally Posted by GaReops View Post
I have been busier this year than any other and can barley keep up. But then again it is just me and one worker.. I have barley any overhead, I can see where this is an issue with a company with many employees and huge overhead. No doubt the prices are going down. I would think you could at least make more doing this than you could getting unemployment. You will need start up money, GL, tools, etc... It is possible to "survive" or "put food on the table" in this business. Get rich? No.




Few markets are where you are at work load wise.




P&P pay just isn't viable when you have to travel out side of a 20 mile radius for any of your work.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
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