How to start a Foreclosure Cleanup Business ''On the cheap''
How to Start a Foreclosure
"On the Cheap"
There are some definite costs to starting a foreclosure
cleanup business. It's not one you can start with no
money - and don't believe anyone who tells you
otherwise. But, costs can be mitigated. Following are
some concrete suggestions on how to start a
foreclosure cleaning business "on the cheap."
3 Concrete Suggestions for How to
Business Cleaning Foreclosures Cheaply
Rent Equipment: While it's ideal to have your own
equipment when you own a foreclosure cleanup
business, you can rent almost everything you need
until you can afford to outright purchase it.
For example, a trailer and a dumpster. Most jobs will
require these, as you will have to clean and remove
trash and debris from a property. But this equipment
can be rented very reasonably.
Equipment Tip: Familiarize Yourself with
Costs before You Start Marketing
To start to get an idea of the costs of things you will be
renting often (eg, ladders, lawn equipment (in warm
seasons); tools, etc., visit your local Home Depot or
Lowe's. As these are built-in costs for your business,
you should have an idea of how much it will cost to
rent these things for your foreclosure clean out
business until you can afford to buy them.
Subcontract: Another way to start a foreclosure
cleanup business on the cheap is to subcontract out
as much as you can. Cleaning, you can handle
yourself. But, if there are jobs that you're not
equipped to handle because you either don't know
how, or don't have the proper tools, outsource - eg,
painting, plumbing, electric, window repairs, etc.
Just build the cost of hiring contractors into your
Market Online: One of the biggest costs most new businesses
face is marketing. Luckily, a foreclosure cleanup business is
one where marketing can be done on the cheap. Why?
Because your primary customer base (eg, realtors, bankers
and investors) are all online.
And, they are easy to find. So use email marketing. It's free. Add
a couple of vehicle signs to this (every foreclosure cleanup
business should have vehicle signs) and this is all the
marketing you'll need to do to get business flowing in initially.
While there are legitimate startup costs you can't get around
when you start a foreclosure cleanup business (eg, insurance,
vehicle, phone), everything else can be done "on the cheap"
until you start bringing in business.