[Latbro]

Hello everyone, Im located in Washington State. I am considering to get myself into Property Preservation field,but reading all these posts have me concerned. I would realy appreciate few pointers from You Professionals and maybe where to look for work.
I've been doing exterior renovations for past 7 years, but the work is little slow,so I am looking for some other options.
Thanks anyone for their input.
Appologies about the grammar:smile::smile:

 

[PMG7852019008]

I would first check into how many companies in your area are doing it already. The jobs don't pay all that well and go to the lowest bidder so if you have a lot of competition... and you have to pry any travel money out of them. I had a company want to pay me 20$ for an inspection that takes about 30 minutes to do well AND it was over a 100mi round trip, acted like I was trying to rip them off for asking for more money. It is cutthroat with the big preservation companies. On the other hand if you are the only one in your area, say a 25-50mi radius... you can get paid.

 

[FremontREO]

I cannot stress enough for any "newbie to Property Preservation" to find someone to mentor with for a minimum of 1-2 years. Again today another 21 year carpenter called to ask "WTH" is going on with the Property Preservation business? See he started with one of our "big companies" and actually WAS a competitor until he was over $11,000 in the hole after only 3 months before he saw the error of his ways and quit!

I have to stress This is like no other type of contracting PERIOD! Your work is not only what is important (it should be) but rather your lawyer, shady accounting skills (like the banks do it to us) and the computer genius are the important parts of this field. Until you learn the "ways of this world" try to learn from someone that is willing to take you on as an apprentice....I know this is very hard since someday YOU may be the competition but better than working for free or worse yet...PAYING.

JMHO. Good Luck

 

[thanohano44]

I cannot stress enough for any "newbie to Property Preservation" to find someone to mentor with for a minimum of 1-2 years. Again today another 21 year carpenter called to ask "WTH" is going on with the Property Preservation business? See he started with one of our "big companies" and actually WAS a competitor until he was over $11,000 in the hole after only 3 months before he saw the error of his ways and quit!

I have to stress This is like no other type of contracting PERIOD! Your work is not only what is important (it should be) but rather your lawyer, shady accounting skills (like the banks do it to us) and the computer genius are the important parts of this field. Until you learn the "ways of this world" try to learn from someone that is willing to take you on as an apprentice....I know this is very hard since someday YOU may be the competition but better than working for free or worse yet...PAYING.

JMHO. Good Luck

Amen

 

[DreamWeaver]

I cannot stress enough for any "newbie to Property Preservation" to find someone to mentor with for a minimum of 1-2 years. Again today another 21 year carpenter called to ask "WTH" is going on with the Property Preservation business? See he started with one of our "big companies" and actually WAS a competitor until he was over $11,000 in the hole after only 3 months before he saw the error of his ways and quit!

I have to stress This is like no other type of contracting PERIOD! Your work is not only what is important (it should be) but rather your lawyer, shady accounting skills (like the banks do it to us) and the computer genius are the important parts of this field. Until you learn the "ways of this world" try to learn from someone that is willing to take you on as an apprentice....I know this is very hard since someday YOU may be the competition but better than working for free or worse yet...PAYING.

JMHO. Good Luck

You'd be wise to heed this advise.

 

[BPWY]

I cannot stress enough for any "newbie to Property Preservation" to find someone to mentor with for a minimum of 1-2 years. Again today another 21 year carpenter called to ask "WTH" is going on with the Property Preservation business? See he started with one of our "big companies" and actually WAS a competitor until he was over $11,000 in the hole after only 3 months before he saw the error of his ways and quit!

I have to stress This is like no other type of contracting PERIOD! Your work is not only what is important (it should be) but rather your lawyer, shady accounting skills (like the banks do it to us) and the computer genius are the important parts of this field. Until you learn the "ways of this world" try to learn from someone that is willing to take you on as an apprentice....I know this is very hard since someday YOU may be the competition but better than working for free or worse yet...PAYING.

JMHO. Good Luck

Good post.



To add to this the newbs need to understand that the service companies change the rules on a whim and may or may not inform you of the rule changes.

They hold nearly all the cards and the contractors hold virtually none.

Once you get started they have you over the barrel with their 60 to 90 day pay schemes. If you fight them they'll just not pay you for the last 2 months of work.
Then where will you be?

 

[Latbro]

Thank you brothers in trades,i realy appreciate all the advice you guys put out. Ill keep looking into this.
Best regards.

 

[MHR]

Good post.

They hold nearly all the cards and the contractors hold virtually none.

Once you get started they have you over the barrel with their 60 to 90 day pay schemes. If you fight them they'll just not pay you for the last 2 months of work.
Then where will you be?

That's not entirely true. If a company you work with fails to honor their end of the bargain, in this case adhering to 30 days or whatever time period you both agreed to re: payment, you can always put a lien on a property for the late balance owed. Unfortunately, this threatens their ability to "have you over a barrel", a scenario many MFS co's require, and without being able to pull the puppet strings, they feel threatened and will likely choose not to work again with a company who forces them to honor their committment. Sad there is such a LACK of integrity amongst most MFS companies out there...

 

[BPWY]

Sadly way too many state's laws are not in favor of the contractor and P&P work doesn't fall into whats permissible in all states when it comes to liens.

My state for example requires actual physical appearance improvement to be done before a lien is allowed. Landscaping, interior remodel/decorating etc.
Cleaning up junk and mowing the yard does not count.