If you are interested in actually making some real money in the Property Preservation industry… then this might just be your lucky day. Just to make sure you and I are on the same page, I want you to understand that everything you’re about to read here is 100% accurate and backed up with factual information. Just like at my website Property-Preservation.us, my reputation is on the line and I don’t take that lightly.
Anyway, what you’re going to read right here is probably much different than what you may have heard from some of the “self-appointed-experts” out there. And it’s completely different than anything you might have heard at any of the Property Preservation forums.
That’s what I would be thinking to myself if I were in your shoes. Here’s why you should listen: I’ve been kicking in this industry since 2007 and I haven’t had to clean out 1 measly toilet the entire time. And I have been self-employed since the mid 1990’s, running my own construction and real estate related businesses the entire time.
What do I mean by “kicking ”? Here’s a small sample of weekly checks my company receives from just 1 of our clients. And yes… I said WEEKLY. BTW, please don’t mistake this as anything other than me providing you with factual evidence to show you that I know what I’m talking about.
Note: The only time I make a copy of any invoice checks is when I am sorting out an issue with one of my invoices, if I received a chargeback or some other discrepancy that needed resolved with my client. This is an average sampling of checks we received from this one client, out of the several hundred or so that we have received from them since 2007.
Before I get too far ahead of myself, I’d like to take a moment to answer a some of the most commonly asked questions about this side of the Property Preservation Industry.
It all started in 2007 when I stumbled into the world of Property Preservation with very little money saved because of a few bad real estate investments I made right before the market made its turn for the worse. The only things I had going for me was the mindset that I either had to make this new business work or face the risk that my family could possibly become homeless. And I also had the previous experience from being self-employed for the 10 years prior.
I didn’t have any “rich” family members at the time and my credit rating was so bad I couldn’t even finance a piece of bubble gum. But instead of dwelling on what I didn’t have, I made a conscious decision to focus on doing my best with what I did have. And I made a promise to myself that I’d stay away from alcohol, drugs and ALL “negative people”. I had to remind myself of this philosophy every day but after a few weeks, it really sunk in and became a habit.
Surprisingly, I wasn’t as stressed out as I thought I would have been by starting a new business without enough operating capital. Back then I used to spend a lot of time mentally visualizing how my situation could actually work itself out, even without adequate funding.
I don’t know what your situation looks like right now but that was mine when I first got involved in Property Preservation.
This next question is actually quite important to me when I am conducting business with someone on the internet.
This is one question that I always like to know so I’m gonna deal with it right away. I’ll give you the “short version” out of respect for your time. My own Property Preservation repair business is running very smoothly right now. Everything is very much under control and I am content keeping it at the current $2 million dollar per year level. But because I spent so much time early on designing and implementing some really efficient “business management systems”, I have more free time than I know what to do with.
But it’s not my style to sit around and do nothing. So I decided to create an additional stream of income by sharing my knowledge about this business. The other option I considered was to jump into a completely different industry and start a new business. But that didn’t make as much sense as sharing my business experience with people and it certainly wouldn’t give me the same level of pleasure.
“What was I referring to earlier when I mentioned something about a different side of Property Preservation that is supposed to be more profitable?”
I was talking about the Property Preservation repair jobs and the REO Rehab projects. These are two distinct areas within the Property Preservation world that can be quite profitable, if you put the effort into really learning about them.
Contrary to what you may have heard, there’s not a w lot of compeion when doing the repair work, because most people are more interested in what I consider to be the “crappy maintenance type work”. I think some people are under the umption that they might not be qualified to do the construction repairs even though you have to jump through all the same hoops and aquire all the same pricey insurance policies regardless what area you decide to specialize in.
It’s actually fairly simple: Many of the banks have conducted research that shows them that it is cheaper for them to actually put money into these houses than to try to sell them “as is”.
4) banks are trying to clean up their reputations by joining in the fight against “neighborhood blight”
5) ci across the country are imposing enormously large fines when… Read more…
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