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Old 03-12-2009, 05:46 PM
 
946 posts, read 2,153,691 times
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I feel like I'm putting my toes out for the alligators. But there are some pretty knowledgeable real estate people that post here, so maybe they will share what they know. There are a couple contractor- and own-equipment type jobs advertised with property management companies, with admittedly absurdly high weekly earnings projections. Property maintenance for foreclosures etc. would seem to be a growing industry, or is it already over-saturated? Any tips on getting into this line of work, and is it worth it? Aside from contacting real estate offices and the chamber of commerce (oops, now I let myself in for more abuse), what avenues are available if starting a property maintenance/repair business? I have talent and a decent bankroll, but maybe I'd be better off gambling--at least I wouldn't sweat while I lost money. Thank you for any advice or personal experience with this industry.
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Old 03-12-2009, 06:50 PM
 
Location: Las Vegas
444 posts, read 1,429,098 times
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If you have the bank roll and are willing to work that hard, office/house cleaning is very lucrative.

I'm sure some repairs would come your way as well. Heck, do their landscaping as well. Yeah that's the ticket ... full service office building maintenance/cleaning/landscaping business. Seriously.

I knew the guy who had the Merrymaids franchise in Kitty Hawk NC where there are a lot of rental properties (houses, not offices, but same $$$ apply) and he was making a fortune.

Good Luck.
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Old 03-12-2009, 07:45 PM
 
Location: Las Vegas, NV
2,721 posts, read 7,473,903 times
Reputation: 1063
I have been doing a few pools since 2007. They are usually a mess and need a good refurb. There is good money in doing cleanups/repairs of repos for sure.
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Old 03-12-2009, 08:05 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,484,948 times
Reputation: 2661
Quote:
Originally Posted by teach1234 View Post
I feel like I'm putting my toes out for the alligators. But there are some pretty knowledgeable real estate people that post here, so maybe they will share what they know. There are a couple contractor- and own-equipment type jobs advertised with property management companies, with admittedly absurdly high weekly earnings projections. Property maintenance for foreclosures etc. would seem to be a growing industry, or is it already over-saturated? Any tips on getting into this line of work, and is it worth it? Aside from contacting real estate offices and the chamber of commerce (oops, now I let myself in for more abuse), what avenues are available if starting a property maintenance/repair business? I have talent and a decent bankroll, but maybe I'd be better off gambling--at least I wouldn't sweat while I lost money. Thank you for any advice or personal experience with this industry.

How determined are you?

It is a very viable business at the moment but will not stay like it is now long term.

Clean up, fix up, REO repair has been a reasonable job category for the 8 years I have been in the business. What has happened is the REO support structure has been overwhelmed creating opportuninty for newcomers.

But note that someplace over the next couple of years it will turn around and things will head back to a more normal profile. It is still a good business if you are skilled and efficient but you will have to survive the fallout as it declines back to a normal operation.

A good approach may be to try and network it. Many places need multiiple services...pool, landscaping, plumbing, roofing, electrical, painting, what have you. You might try doing some and finding sources for the others. A single contact who can do all is very valuable in this area.

Have fun...be careful. If you survive five years you can likely retire off the resultant business.
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