Start A Foreclosure Maintenance Business

Millions of foreclosure homes are sitting empty across the USA. Banks and other financial institutions own these properties and need to provide the necessary maintenance to keep the homes from deteriorating and losing further value. In many cases they are required by law to keep their foreclosure properties in good shape as cities and towns pass laws to help protect their property values and keep their neighborhoods looking good. There simply aren't enough property care companies to service the home already in need, and thousands of home foreclosures are still taking place everyday. You can see the profit potential for this as a home based business opportunity. You can create a good steady income from foreclosure properties.

The foreclosure property maintenance business is very different than a typical lawn care business. As a foreclosure property maintenance specialist, you will need to perform basic lawn care, but you will also need to bring along your handyman skills, plain old elbow grease, and a pick-up truck. To connect with potential clients, mail a brochure or post card to local finance companies and real estate companies. Since the finance company that owns the property may be anywhere in the country, they often rely on the real estate company to manage the property for them.

Your first call on a home is the most important and where the more difficult work takes place. You will most likely have to remove any remaining property abandoned by the occupants and perform a general cleaning. You will clean any food from kitchen appliances, plus clean and disinfect bathroom surfaces that can grow mold. Any other neglected or abused surfaces should also be cleaned. You will also inspect the property for potential problems that could harm the property while it is empty, like broken glass or clogged gutters that could cause water damage. If you are in a cold climate you should drain outside taps so they don't freeze. Finally, make sure that the home is secure. Outside, you only need to remove any debris and clutter left behind, and cut the lawn. After that you will need to return about every two weeks to cut the lawn and do a quick inspection to make sure that the property is still secure.

These companies can't spend a fortune on maintenance, but if you price competitively there is an endless supply of work. Sometimes the company will tell you what their allowance is for maintenance and you will likely be very satisfied with that amount. My friend averages 25-30 properties a week for follow-up visits and makes a respectable income. And did I mention that in most cases the abandoned property you remove is yours to do whatever you want. My friend makes a nice additional income selling many of these items on ebay and craigslist.

The high volume of foreclosures will not likely be around for more than a few years, but this business can sure fill a big void while the economy it tight and jobs are hard to find. When the foreclosure market thins out you can turn to rental housing doing similar work. You will be doing the initial clean-up and inspection. You will usually paint and do more for repairs to get the property in shape for the new tenants and bill accordingly

---

---