how did you get started doing PP? - REO Property Preservation Forum
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post #1 of 16 (permalink) Old 01-29-2014, 01:03 PM Thread Starter
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how did you get started doing PP?

I started out not that long ago as a sub for a contractor doing HPIR
(Ive already read everything on here about the generator bit, thanks)
no repairs were ever required of me for doing HPIR work FTR

I know the general concensus here is to run away quickly...

well I liked the work quite a bit, im fast, accurate and it paid me well enough with more than acceptable hours to me

I covered all of Ct and part of western mass and I realize thats not a large area
to some but I was the one and only for this particular area with this company.

so, thats my story. How did you get started?
are you generally licensed and insured as a GC ?

I co-owned a small remodeling company in a past life and flipped several good sized properties before the market went belly up...sold everything I had at the height of the housing boom...i guess thats the other part of my story.
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post #2 of 16 (permalink) Old 01-29-2014, 08:24 PM
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Well sounds like you timed things right with your flips. You may or may not have this one timed as well. There are still alot foreclosures but the pay has been a race to the bottom. I'm not a GC by design, it let's me wiggle out of the losers as "not in my scope of work". Alot of the guys really want that work though as it's not as time sensitive as Property preservation work. The best way in is being a sub for a vendor from a national that has been around the block and knows the ropes. you will get a good feel for what this job is..........................It sucks, but it's interesting as well. Don't quit your day job if you have one that pays the bills.
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post #3 of 16 (permalink) Old 01-29-2014, 09:14 PM
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post #4 of 16 (permalink) Old 01-29-2014, 10:36 PM Thread Starter
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Originally Posted by garylaps View Post
Well sounds like you timed things right with your flips. You may or may not have this one timed as well. There are still alot foreclosures but the pay has been a race to the bottom. I'm not a GC by design, it let's me wiggle out of the losers as "not in my scope of work". Alot of the guys really want that work though as it's not as time sensitive as Property preservation work. The best way in is being a sub for a vendor from a national that has been around the block and knows the ropes. you will get a good feel for what this job is..........................It sucks, but it's interesting as well. Don't quit your day job if you have one that pays the bills.
yeah...I was a sub for a vendor that was working for a national and knew the ropes.
taught me fast which I appreciate a lot.
The other half has a day job that baaaarely pays the bills so I'm pretty eager to get back at this tbh.
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post #5 of 16 (permalink) Old 01-29-2014, 10:41 PM
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I started out working with my father who later received a call from his clients, asking if he knew anyone willing to cover additional areas. He said give me 10 mins and me or him one will be calling you back. 3-4 years later here we are still attempting to make a living and trying to pick up more private and local clients.
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post #6 of 16 (permalink) Old 01-29-2014, 11:16 PM
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post #7 of 16 (permalink) Old 01-30-2014, 08:20 AM
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My ex wife was a Realtor and was doing forecloses. She started off hiring people to mow lawns and do repairs to properties. Problem was we had to front the money, so started doing the under my company name. Like doing this type of work so I did a internet search and found FAS. Been doing this type of work ever since.
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post #8 of 16 (permalink) Old 01-30-2014, 09:10 AM
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I was lied too. "You can make some good money doing this." pfft
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post #9 of 16 (permalink) Old 01-30-2014, 09:19 AM
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Started out of STUPIDITY!!!!!!!!!!!
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post #10 of 16 (permalink) Old 01-30-2014, 10:36 AM
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We were buying up foreclosures and investment properties for flips and rentals. Brokers would call us before anyone else to see if we were interested. Discovered if we were willing to clean them up, we could get our foot in the door even farther and grab some deals before they went on the mls.
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