How I got out of P&P - REO Property Preservation Forum
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post #1 of 34 (permalink) Old 05-17-2014, 10:21 PM Thread Starter
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How I got out of P&P

This may be more appropriate in the Off Topic but anyone can follow My path:

The writing was on the wall what the P&P was becoming back in 2009. Here is what I did.

We always did a substantial amount of structural drying on foreclosed homes SO we decided to go get our certifications from the IICRC. www.iicrc.com Once you get your certifications you are eligible to do Insurance Mitigation work. You take the classes to gain your WRT (water restoration tech) & your ASD (applied structural drying) certifications.

Once you earn your certifications you can sign up with Code Blue (www.codeblue.com), Home Advisors (www.homeadvisor.com) and Contractor Connection (Google this one). Code Blue handles claims for Am Fam and a handful of other companies, Contractor Connection handles Allstate,Usaa and others and Home Advisors (used to be Service Magic) handles private party work.

The WRT Class is 3 days long and approx $600. The ASD Class is 2 days long.

You will need to invest or rent some basic equipment. This will cost you approximately the same as a nicely equipped lawn mower BUT will generate you 50x more income than your lawn mower.

This basic equipment package generated us over $200k gross and we expanded to 51 dehumidifier and 300+ airmovers with $600k gross yearly income. Www.damageclean.com is our company.

YOU CAN DO IT TOO!!!!

AGAIN: another service YOU are asked to do in the P&P business is mold remediation. Go get your certifications and be paid what you are worth! You will need that WRT certification from the IICRC since it's a prerequisite to obtaining tour AMRT (Antimicrobial remediation tech). There are many ways to get business!!! I would tell you some secrets but I see Heartland is in Florida and we are opening a 2nd location in Fl in the next 30-60 days so....can't give all my secrets away

In the month of Apr we did over $80k in mold work on foreclosed homes and June will be more than Apr. YOU CAN DO IT TOO!!!

AGAIN: another service you are asked to perform are inspections. Go get your Home Insectors license and get paid what you WORTH!! Yes I'm a home inspector also BUT don't have much time to fish this pond. We do charge $350-400 per inspection. There are a lot of companies BEGGING for licensed inspectors and easily earn $100,000 per year without having to find a lead.

I came from an Insurance background. Since we remodel/construct/fix homes I am an advocate for homeowners with Ins Claims. Www.heartlandpublicadjusting.com (see Heartland your name made me want to give you ideas/options). There are tons of companies out there that will train anyone to learn the business. You would find out that your life and career experience is important. There is a forum member who asked my advice and got licensed and burning up the State of Ohio with work. It's gratifying to help people who got the shaft from the Ins Co!!!

When I walked from the P&P business (11-1-11) we were doing 2,000,000 yearly gross (net stunk since we paid our subs 88% of gross) minus our employees and overhead. We never looked back since we had FAITH in our abilities.. Have faith in what you can do!!! Take baby steps away from the insanity and your bank acct will grow and you will keep your sanity.

Hope this helps.

My rambling is over
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post #2 of 34 (permalink) Old 05-18-2014, 08:24 AM
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Great story ^^^^^.
We have always majored in rehabs, rentals, flips and basic general contracting 101. REO/Preservation was never our main feature, although we did huge numbers with a lot of them. We started as favors for brokers who couldn't get decent crews, who then referred us to their clients. Like a bad romance, we kept getting pulled in deeper and deeper. It got to the point where we had to hire staff to do nothing but manage the follow ups and silly bs from nationals. Instead of taking the weekend off, I was in front of the laptop dealing with ridiculous chargebacks and call backs. I started looking at our P&Ls and realized I was doing 300k with XYZ Preservation and netting 30k + nonesense, and 100K building porches and decks and netting 60k+ referrals.

Wannabe the writing has been on the wall for so long it is beginning to fade. Maybe that is why so many still don't understand the Preservation scam.
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post #3 of 34 (permalink) Old 05-18-2014, 08:59 PM Thread Starter
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Gtx,

You are so right. The business has faded past the point of no return. You like me got involved by pure accident. I began in the late 80's writing force placed insurance on foreclosed homes and got sucked in to inspections then lock changes then into full P&P work. Back in those days we were getting paid very handsomely and was happy to do it. Look where the industry has went---$395 trashouts and in the '90s we were getting a "flat" $1500+ for 20-30cyds. Then add on the other services.

I just shake my head at today's nonsense.
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post #4 of 34 (permalink) Old 05-21-2014, 08:23 PM
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Great job wannabe!
Its about time I heard something positive on this site
Do yourself a favor and contact Wells Fargo and get on their repair team. They will only hire you if you do mold and you will get TONS of work! (As long as you do good work! You will be graded on every job by the agent) You will need to do everything else but you can sub it out if you need to. We do almost everything in-house but the only 3 things I sub out are carpets, roof, and mold, I was going to get certified but to be honest, I make enough off of everything else that I can afford to sub it out. To give you an idea of the work, I paid my mold sub $438K last year! We did over $2M in total work and your margins will be allot higher then the 12% you were making in P&M.
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post #5 of 34 (permalink) Old 05-21-2014, 08:28 PM
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Quote:
Originally Posted by bigdaddy View Post
Great job wannabe!
Its about time I heard something positive on this site
Do yourself a favor and contact Wells Fargo and get on their repair team. They will only hire you if you do mold and you will get TONS of work! You will need to do everything else but you can sub it out if you need to. We do almost everything in-house but the only 3 things I sub out are carpets, roof, and mold, I was going to get certified but to be honest, I make enough off of everything else that I can afford to sub it out. To give you an idea of the work, I paid my mold sub $438K last year! We did over $2M in total work.
Are you with the brokers directly? If you dont mind me asking.
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post #6 of 34 (permalink) Old 11-26-2014, 12:21 PM
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hey , so I just got my mold remediation specialist cert (MRS) after seeing WANNABE"s post and living in WA state I figured it looked like a good way to get out of p&p we have lots of mold here and I am flat SICK of p&p. I was wanting to see if anybody has any good or bad stories ( leads or warnings ) about companies to work with in this field?
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post #7 of 34 (permalink) Old 11-26-2014, 06:48 PM
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Originally Posted by All Island Handy View Post
hey , so I just got my mold remediation specialist cert (MRS) after seeing WANNABE"s post and living in WA state I figured it looked like a good way to get out of p&p we have lots of mold here and I am flat SICK of p&p. I was wanting to see if anybody has any good or bad stories ( leads or warnings ) about companies to work with in this field?
Send Wannabe a PM.

As far as what I've been told, don't know this first hand, if you are certified you can get on a FNMA approved vendor list without having to be a SAMS vendor. Then you can start reaping the rewards from the chargebacks on the P&P vendors.....



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post #8 of 34 (permalink) Old 11-26-2014, 08:44 PM
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Send Wannabe a PM.

As far as what I've been told, don't know this first hand, if you are certified you can get on a FNMA approved vendor list without having to be a SAMS vendor. Then you can start reaping the rewards from the chargebacks on the P&P vendors.....
PM sent !!!! man that would be great, I am looking into that now thanks for the info
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post #9 of 34 (permalink) Old 11-27-2014, 12:26 AM Thread Starter
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Congrats All Island Handy!

If you send the PM I will get you a number to call to get on the FNMA Direct vendor list. There are a couple providers but you will need the WRT & AMRT Certifications. The MRS is a new thing and not to familiar with. Was the test hard? I thought about taking it to see how it compares to the week long AMRT Course so the techs can take for a certification without the $1000 course fee plus motels/travel expenses.
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post #10 of 34 (permalink) Old 11-27-2014, 12:47 AM
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well the course took me about a week, learned a whole lot about how wrong these nationals are asking people to just bleach and kilz, I passed the test the first time, it was pretty damn hard but I did a quick run thru of the whole course right befor I took it, the test tuched on the structural drying enough to complete the remediation, but not real in depth. I am going to start there structural drying course on Monday, even if not required it couldn't hurt to add to the certifications we hold. WANNABE thanks for all the help and info.
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