subject: Foreclosure Trash Outs: Property Preservation Can Mean A Whole New Life [print this page] The Biggest Foreclosure Business Opportunity Is Also a Second Chance
The property preservation business isnt the most glamorous one around and performing trash outs on foreclosures isnt for those who dont like to get their hands dirty. But in a huge recession thats heading back downwards, it is economic salvation to a growing number of people looking for a new career.
With the record number of foreclosures not expected to abate until late 2013, according to some housing experts, there has been a corresponding record number of jobs and income available to property preservation companies that know how to take advantage of the current real estate crisis. Start-up costs are low and experience isnt necessary; proper training is. And some of those who have had that training have found themselves making up to 5 figures a week.
Bill and Donna Hoser are one married couple that found a new life by starting a property preservation company, according to a story this August in The Bradenton Herald. The Hosers, who live in Bradenton near the west coast of Florida, opened their own business, BWTC Construction and Remodeling, in early 2007. Their intent was to focus on residential construction.
However, the economy went sour soon after that and Florida was one of the hardest-hit states, in terms of foreclosures and a lack of new construction. So the Hosers decided that since they were handed lemons, they should make lemonade and began an REO (real estate-owned) property preservation division, performing foreclosure trash outs on abandoned homes for REO sellers. That division has ended up accounting for most of the couples companys business to date.
Bill Hoser is pragmatic about the need for his services. Obviously its unfortunate that its the result of someone elses personal tragedy, he told the Herald. But its more a matter of there is a job to be done and someone has to do it.
The couple has been stunned by what theyve found left behind in these foreclosures. Recently, the former owner of a foreclosed home had passed away and left two perfectly good cars in the garage. The bank still hasnt figured out what to do with them.
Building a good reputation, learning what the industry requires and being able to work with the banks has been the key to the Hosers ongoing success. The bank might call and say Weve got a home with a broken pipe that is flooded right now, and we would be there immediately, Hoser said. Next thing they (the banks) are saying, These guys arent too bad.
