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Guest
·Hi all, I have been thing about getting into Reo and P&P business. I went to a voc.tech then college for light rez. construction and have been doing remodeling (job super) for 15 yrs. At this point in my life I feel like I just need a change. Over the past few weeks I have read all of the posts in this area many times. Please tell me what you think of my plan.
First of all I own generators, compressoers, ladders, 3 chain saw, mowers, trimmers, and every carpentry tool you can think of. I also have a private investor who has offered me up to 30K to get started. For collateral they have accepted a large parcel of land I own. The plan is to start a LLC in CT. and be based in MA. I would be looking to get a loan for a 3/4 ton diesel truck and buying outright a dump trailer. This way I could use most of the 30K for start up costs and working capital. I have a mentor/friend who is in the biz. and would want to work for me. At this time he runs crews and takes the pics. for a different p&p company. We would get started with just the two of us and if I could make it work the plan would be hire one or two more people. Run a 4 man crew for a while then start a second crew. I have a hand full of local realitors I know on a personal level I could turn to while I try to get in with a national. I have no doubt that I will have to be pounding the pavement with the local realitors and constantly on the phone and passing out information.
SO with that being said what do you pros think? Any pointers, help, or general directions would be great!!!! Thanks
First of all I own generators, compressoers, ladders, 3 chain saw, mowers, trimmers, and every carpentry tool you can think of. I also have a private investor who has offered me up to 30K to get started. For collateral they have accepted a large parcel of land I own. The plan is to start a LLC in CT. and be based in MA. I would be looking to get a loan for a 3/4 ton diesel truck and buying outright a dump trailer. This way I could use most of the 30K for start up costs and working capital. I have a mentor/friend who is in the biz. and would want to work for me. At this time he runs crews and takes the pics. for a different p&p company. We would get started with just the two of us and if I could make it work the plan would be hire one or two more people. Run a 4 man crew for a while then start a second crew. I have a hand full of local realitors I know on a personal level I could turn to while I try to get in with a national. I have no doubt that I will have to be pounding the pavement with the local realitors and constantly on the phone and passing out information.
SO with that being said what do you pros think? Any pointers, help, or general directions would be great!!!! Thanks