Needing some good advice! :) - REO Property Preservation Forum
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post #1 of 14 (permalink) Old 03-10-2014, 03:57 PM Thread Starter
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Needing some good advice! :)

I am a contractor in a successful business in NE Ohio. I was recently approached by a trusted relative about PP. He has experience working for a local PP contractor that primarily works with Safeguard. I've read about everything on Safeguard's site, and lots more from various sites.

I'm looking for a seasoned vet to answer here...preferably from NE Ohio? But I'll take any help LOL....

1. If I start an additional business doing PP, hire 3 guys with over a year experience each, what kind of income potential could I be looking at generating?

2. What kind of man hours would this amount of work entail?

3. Is it going to be worth it to start this new venture, or should I walk away?

A little background on me....I'm very business savy. You could say I'm a "does everything" type of guy, and might even consider myself a "jack of all trades". I've owned a landscape business in the past, complete with snowplowing and maintenance, commercial and residential. I now own a business in an industry that is controlled by The Ohio Department of Health and EPA, so I'm used to mounds of paperwork. I think I'm more than qualified. So that's not my issue.

Thanks in advance for your answers and help!
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post #2 of 14 (permalink) Old 03-10-2014, 08:16 PM
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It was the potential to make dozens that lured me in.
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post #3 of 14 (permalink) Old 03-10-2014, 08:40 PM Thread Starter
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Well, lots of views, only one response. Guess no one has an opinion.

I have been reading through the site quite a bit, getting to see lots of opinions on other subjects. Learning a lot about this line of work. No business is gum drops and gingerbread.....but this one seems to have some cynics...?
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post #4 of 14 (permalink) Old 03-10-2014, 08:43 PM Thread Starter
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It was the potential to make dozens that lured me in.
Ok....so they lured you in? Then what? Dozens? ???
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post #5 of 14 (permalink) Old 03-10-2014, 09:39 PM
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Everyone has there own views in this business just like another.If you have the tools and equipment there isn't that much start up cost.Just keep in mind that there is hundreds if not thousands of Established preservation guys all across the country.You need to have capital to keep you and your business afloat for atleast 3-4 months.The most important part is your camera.also know your operating cost.I can go on for days.The best thing to do is surf the forums and read.All of us have good and bad things to say about the nationals.
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post #6 of 14 (permalink) Old 03-10-2014, 10:05 PM
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Quote:
Originally Posted by slonomo View Post
I am a contractor in a successful business in NE Ohio. I was recently approached by a trusted relative about PP. He has experience working for a local PP contractor that primarily works with Safeguard. I've read about everything on Safeguard's site, and lots more from various sites.

I'm looking for a seasoned vet to answer here...preferably from NE Ohio? But I'll take any help LOL....

1. If I start an additional business doing PP, hire 3 guys with over a year experience each, what kind of income potential could I be looking at generating?

2. What kind of man hours would this amount of work entail?

3. Is it going to be worth it to start this new venture, or should I walk away?

A little background on me....I'm very business savy. You could say I'm a "does everything" type of guy, and might even consider myself a "jack of all trades". I've owned a landscape business in the past, complete with snowplowing and maintenance, commercial and residential. I now own a business in an industry that is controlled by The Ohio Department of Health and EPA, so I'm used to mounds of paperwork. I think I'm more than qualified. So that's not my issue.

Thanks in advance for your answers and help!



I'd suggest to keep reading the forum and form your own opinion.
From one business owner to another...... be very careful.
The P&P business model is a dying model, prices are low and many of the demands of how work be performed are not industry standards.

Keep in mind that even if it seems there are many cynics on this site........... they got that way for a reason.

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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post #7 of 14 (permalink) Old 03-14-2014, 12:16 PM Thread Starter
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I understand guys. Thanks for the input. Yeah I'll keep reading and try to understand the business from the outside. But it always helps to have opinions from the inside. I'm not dying to add more work to my business, but more profit is always a good thing.

What I have learned is that because of the amount of work vs. the amount of competition, prices have stayed low. It seems like there's a lot of (pardon the expression) "crappy" contractors that don't care, doing "crappy" work. That is definitely not me. In fact, I'm the opposite. So maybe I wouldn't be a good fit for this line of work. I'd probably end up doing "too good of work" and not make enough money.
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post #8 of 14 (permalink) Old 03-14-2014, 05:08 PM
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We all did "too good of work" Crappy pricing brings out crappy contractors. Pros turned down the work because we know we cant do exceptional quality work for minimum wage and below after expenses.
Had good years in this business but it is now a free for all, I'm content exploring other avenues and watching the hacks and regionals (one in the same) turn this business into race to the bottom. The solution to this is so simple its scary, but it takes common sense, a commodity that the nationals have no use for. When companies want 35 photos of a lawn cut its beyond insanity there is absolutely no reason what so ever for that type of requirement, especially on a city lot, and for $35 and below, not this guy.
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post #9 of 14 (permalink) Old 03-15-2014, 03:13 PM
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hi

ive seen some of the good work safegaurd contractors do,guess thats why i was there to fix what was'nt done right to start with
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post #10 of 14 (permalink) Old 03-16-2014, 08:32 AM
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We all did "too good of work" Crappy pricing brings out crappy contractors. Pros turned down the work because we know we cant do exceptional quality work for minimum wage and below after expenses.
Had good years in this business but it is now a free for all, I'm content exploring other avenues and watching the hacks and regionals (one in the same) turn this business into race to the bottom. The solution to this is so simple its scary, but it takes common sense, a commodity that the nationals have no use for. When companies want 35 photos of a lawn cut its beyond insanity there is absolutely no reason what so ever for that type of requirement, especially on a city lot, and for $35 and below, not this guy.
You are right on the money. We started out the same way did our best, we still do a good job but not the same. The money just isn't there and they continue to beat us up and take money not rightfully theirs. When we started 7 years ago we were making money and running several crews,now, it's just us (two). Keep all money in house and only us another helper only if we have to. My advice stay away from this business. If you are busy doing fine just keep doing what your doing. This business is not like a "contractors" business working for customers and being able to charge what you need. If you've never done this business it will be a challenge just due to the fact you have to photo everything (and don't miss a photo) or you will be deducted money. The paperwork is a lot to do and takes time. If you don't mind fighting for your money, working for very little and dealing with an entity that knows nothing about property and houses this is the job for you. Like I said in a previous thread. Stay away from companies that want you to carry E&O - it is very expensive and not worth it. Good Luck, weigh your options carefully. Again, if you're happy where you are stay there.
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