Going broke - REO Property Preservation Forum
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post #1 of 38 (permalink) Old 06-27-2015, 03:49 PM Thread Starter
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Going broke

Hey all first off I'd like to apologize for the lack of introduction. I'm C out of New Mexico I'm new to the industry. I'm a journeyman lineman by day and a wannabe p&p/reo contractor after hours. I always wanted to own my one business and thought hell this industry is the way to go boy was I wrong, I've been doing it for about a month now with costs out the ass not a single pay check yet and more underpayed work then I can manage. I don't know if I should get out now before I get to deep or just keep plugging along I figure worst thing worst is I come out of this with a tax write off. What do you guys think ??
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post #2 of 38 (permalink) Old 06-27-2015, 06:00 PM
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I'd use my electrical skills and get deeper into that trade. Lots of money in sparkies.
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post #3 of 38 (permalink) Old 06-27-2015, 07:46 PM Thread Starter
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I'm burnt out in the electrical trade and I don't see much of a chance of me ever owning my own line company. No one ever got rich getting paid by the hour . I guess your saying get out of preservation. I just got an email from NFR to get on with them how are they ?
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post #4 of 38 (permalink) Old 06-27-2015, 08:19 PM
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I'm burnt out in the electrical trade and I don't see much of a chance of me ever owning my own line company. No one ever got rich getting paid by the hour . I guess your saying get out of preservation. I just got an email from NFR to get on with them how are they ?
Dude better to be burned out making money than burnt by crooked companies. Get a LLC and do licensed electrical work. around here i pay $1000-$1500 for a service upgrade on the houses I flip
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post #5 of 38 (permalink) Old 06-27-2015, 08:26 PM Thread Starter
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I do high voltage I'll have to get back in an apprenticeship to do that type of work I wish I knew how do it
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post #6 of 38 (permalink) Old 06-27-2015, 08:42 PM
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Dude better to be burned out making money than burnt by crooked companies. Get a LLC and do licensed electrical work. around here i pay $1000-$1500 for a service upgrade on the houses I flip
$1600 - $1800 here for a 100A service upgrade. $1800 for the municipalities with high permit fees.



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post #7 of 38 (permalink) Old 06-28-2015, 03:41 PM
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From one ex-lineman to another, I recommend you keep your day job and lose the night job. Being a lineman is soooooo flippin better than pres work. Everything you said is correct, the pay is too low, the pay is too slow, yadda, yadda, yadda...
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post #8 of 38 (permalink) Old 06-28-2015, 09:27 PM
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Agreed- with a trade like yours, the last thing I'd be doing is trudging through junk houses with crap that has been left to rot for a few years, or cutting 3' tall yards for $30. It just takes time to build a business, especially now-a-days, but I'm sure you could pull it off with your experience in electrical.
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post #9 of 38 (permalink) Old 06-29-2015, 06:02 AM
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I'm burnt out in the electrical trade and I don't see much of a chance of me ever owning my own line company. No one ever got rich getting paid by the hour . I guess your saying get out of preservation. I just got an email from NFR to get on with them how are they ?
While I agree 100% with all the "Get out Now" recommendations, I will tell you that NFR is one of the best companies I have yet to partner with. If you insist on trying, I would say NFR is your best chance you have to making it work.
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post #10 of 38 (permalink) Old 07-02-2015, 08:22 PM
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Hi

stay in this business long enough you will go broke not a joke
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