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M.j., Other/Just Looking in Austin, TX

I am trying to start foreclosure trash out company in Austin,Texas, I am not certain whom to contact. Bank, real estate, I get different answers?

Asked by M.j., Austin, TX Sat Aug 28, 2010

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MJ

It sounds like you may need to do some investigation on who the players are when it comes to getting into this type of business. Venture out to investor groups, call local agents who list REOs and find out who makes the call to get the properties cleaned up and what the duties would be. I've seen quite a few properties that would be a huge challenge just to clean up. It would be helpful to have an understanding of what to look for in a vacant home that could be signs of what to expect to be laying around the property. There are many health issues to protect yourself/employees from, so pound the pavement a bit and see if it would be a right fit for you. Keep in mind that you may be paid at the time of completion, upon closing of the sale or even within a period of time after closing of the sale... depending on what the asset managing company has arranged with the listing agent.

Best of luck!
0 votes Thank Flag Link Tue Sep 7, 2010
MJ

It sounds like you may need to do some investigation on who the players are when it comes to getting into this type of business. Venture out to investor groups, call local agents who list REOs and find out who makes the call to get the properties cleaned up and what the duties would be. I've seen quite a few properties that would be a huge challenge just to clean up. It would be helpful to have an understanding of what to look for in a vacant home that could be signs of what to expect to be laying around the property. There are many health issues to protect yourself/employees from, so pound the pavement a bit and see if it would be a right fit for you. Keep in mind that you may be paid at the time of completion, upon closing of the sale or even within a period of time after closing of the sale... depending on what the asset managing company has arranged with the listing agent.

Best of luck!
0 votes Thank Flag Link Tue Sep 7, 2010
Dear MJ,
You should know that Keller Williams agents that get people/vendors to advertize in the Premire Magazine do get compensated. They get a $35 a month credit on their monthly statement if they get an advertising vendor to sign up for this annual service. So that is a $ 420. value each year to the agent.

The best way to grow your new business is to network, network, network and meet lots of new people every day. Lead generation should be at least an hour a day every day. I would start contacting the banks that own foreclosed properties. They may be happy to find a one stop shop that can help them do a comprehensive make ready on the foreclosed properties. I wish you the very best on your new venture. If I can do anything to help just let me know.
Sincerely,
Betina
0 votes Thank Flag Link Tue Sep 7, 2010
M.J., once you do get it going if Realtors are going to be people you seek for business I would highly recommend contacting me about advertising in Keller Williams Premier Magazine (the red & black free mag. you see at HEB, Randall's, etc. 16,000+ circulation I believe per month!). That allows you to speak at sales meetings, stuff over 1600+ mailboxes of the agents, and quite a bit more. Costs about $500/year and the folks I've helped get in there get a lot of business. Keller Williams is the #1 Real Estate co. in volume by far in the Austin area. Btw, I do not receive any compensation for helping you get in the book. Just trying to help. If you'd like you can click on my name and contact me directly for further info. whenever you're ready. Joe Jarusinsky, Realtor
0 votes Thank Flag Link Sun Aug 29, 2010
My brother does this in the Dallas area and you will need to have insurance , such as worker's comp, and plus exp. doing construction type work . There are different companies that handles foreclosure's for the banks . One company is Five brothers, and there a few more . I would need to call my brother to get more info .
0 votes Thank Flag Link Sun Aug 29, 2010
This is handled many different ways. In some cases the REO owner selects their own trash-out vendors directly. In some cases this decision is left to the REO listing agent. In some cases the REO owner will hire a disposition vendor/contractor/coordinator that will handle these things (ie find these vendors for them). The Disposition vendors your seeking can be anything from large multi-national companies that specialize in helping REO owners with these tasks down to a small retail real estate firm in some other part of the country that helps with REO disposition advisement services. Start with LinkedIn, Facebook, and simple Google searches and start figuring out who the major and minor players are and then go from there. Keep good notes as you do your research. There will be thousands of websites and lists you will want to put/get yourself on to.
0 votes Thank Flag Link Sun Aug 29, 2010
You may want to visit some of the local investment groups as well. As Cindy said, networking is really important. Let as many people as you can, know about your business. You never know who might refer business your way!
Web Reference: http://www.jenbutel.com
0 votes Thank Flag Link Sun Aug 29, 2010
start making flyers and visit your local real estate offices, you need to be different than your competitors. So you probably need to offer a killer price or like a package deal. Like 5 houses for $.... or 10 houses for $$. Something that you can get the Realtor hooked to.

Let me know if you need some help, I'm really good at creating new business and helping those who want to start off.

Sameer
0 votes Thank Flag Link Sat Aug 28, 2010
If you're starting a new business, you should contact banks, Realtors who handle REO's and anyone else that might send you referrals! Business comes down to networking and you can pick up business many different places.
Good luck!
Cindy Crawford, Realtor
Keller Williams Realty-Lake Travis
(512)522-5002
cindycrawfordrealtor@gmail.com
1921 Lohmna's Crossing #100
Austin, TX
0 votes Thank Flag Link Sat Aug 28, 2010
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