Foreclosure in 94602>Question Details

littlewillo, Home Owner in Oakland, CA

how much should i be getting paid for trashout, property preservation for foreclosed homes?

Asked by littlewillo, Oakland, CA Tue Jun 26, 2012

we have been hired from this company in the Los Angeles area, we are up north and we are doing all of the hard work, and taking photos and we are getting paid peanuts.

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These days it's easier to figure out how much you should get paid. I try to stay in the 25.00 to 40 range. Companies like to offer 10 to 20.00 cyd but that really isn't sufficient after gas, cost to dump debris, and paying people to help you remove the debris. Even if you are doing the trashout by yourself it doesn't add up to take 20.00 unless that's the best that can be done.

Just remember if you are a quality company(old or new) you will have options. Just work on building your reputation with each order and the correct opportunity will come.
0 votes Thank Flag Link Sat Jan 24, 2015
Hi littlewillo,

I understand from REO agents I know, as well as the folks doing what you are doing, that "peanuts" is the going rate.

When the foreclosure crisis hit and banks started to need the trash out etc. services, many haulers, handymen, jack of all trades, out of work carpenters, and more contacted these REO/foreclosure realtors and banks and offered services such as yours. Your services are needed by the banks as well as realtors working with the banks, but the reality is there is not a high value placed on what you are doing. They need you, but there are so many people offering these services, the value is not high, which means you are getting paid peanuts! As a former contractor myself, I've had lots of people call me asking "how" they could get into this "trash out" business, getting the foreclosed homes ready for market. While it can involve several jobs, such as touch up painting, hauling, a few repairs, etc.. it is not seen as highly skilled work. Also, there is a lot of competition.

I meet people all the time who want to do what you are doing because they think there is a market for it. Many REO agents have their own crew, people they've known or worked with for a long time.

My suggestion is to seek out local REO agents and ask them what they are paying (they often pay and get reimbursed from the bank).. check out who is out there paying what, and you'll get a better idea. Agents will probably be helpful to you and give you the info you are requesting. Check out the major REO agencies: Affiliated Brokers and Cypress Hills, Equity Capital, Insight Real Estate, Derrick Debose, MPL, LeBon Real Estate.. there are others. Ask around. Do some research and get the info so you will know what others are paid. That will be a good "reality check". Good luck!
0 votes Thank Flag Link Tue Jun 26, 2012
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