All Forum Posts by: George Beale
George Beale has started 1 posts and replied 6 times.
Originally posted by Joel Owens:
Depending on the number of tires you can call a local tire recycling plant.They will pick up the tires for free and melt them down to reform tires again.
I am talking if someone dumped illegally thousands of tires on your property.I see this around Atlanta with vacant apartment buildings.
Instead of taking to the dump these businesses dump trash at these vacant buildings in the dark of the night.
As far as trash outs getting jobs from banks require you to be heavily insured.You do not make much money at all.The banks bid ridiculous rates.
It is not the REO brokers fault you get paid late or not at all.Many banks use asset management companies and the broker has to hound them sending multiple invoices to get the money.Sometimes the bank/asset company re-assigns the listing and stiffs the broker for trash out costs.After broker/agents take a 1 percent share fee with the asset management on their 3 percent commission they only make 2 percent.
The bigger national banks have their own companies do all the trash outs. In the previous years brokers would do the trash outs with a company they owned to pad fees and make up for their low commission.
Many of my friends have left the REO business.You might want to just work for investors and you get paid right away.On some of these REO properties the broker has lost thousands before with the bank stiffing them.
I already know banks and brokers are to shady. They will leave you hanging forever.
This is why, we are wanting to get with private investors who are constantly buying and re doing properties to do their trash outs, and construction debri removals for them.
Originally posted by Ed O.:
There is a used tire shop near me that told me, he would buy any that I get that was still good.
I am getting 4 of them from him next month @ 35 a piece. Not a bad deal really.
Originally posted by Sam Sagor:
Also sell stuff you find it's worth a fortune if you get the right contacts. You might want to get an appraiser pal / learn the good stuff. Go ask them what antiques to be on the lookout for or get an education in it.
We do that now. Anything that we can that is still usable, or can be sold for above scrap value, or anything, we do sell it.
It helps us to lower our costs sometimes.
Originally posted by John Terrell:
I am in a similar business in Michigan and Florida. In answer to your question about winterizations, usually those are handled by a plumber. Laws vary from state to state, so I would check in your area, but you may even be able to do it yourself. It is a simple process, just be certain you really know what you are doing. (Oh, and carry the proper insurance! If you make a mistake you can be on the hook for some BIG repairs!)
The licensed plumber route is the best way to go for most people.
I too have had the experience of working for contractors that were the middlemen between me and the banks. It wasn't pretty. They took forever to pay and paid really nothing for the work you performed. After seven houses working for this one company I declined any further work from them. After our final job it was 120 days before I finally got all the money, and I lost money on the deal.
Best Wishes!
John
The one lady I was referring to, was kind of a joke really. She send me the file for one property and said that it was paying $250 to remove all the junk. This person's house looked like something you would see on the show hoarders. What made it worse, is under the back porch was like 20 tires, which was $100 alone as the landfill charges you $5 per tire.
I politely declined the offer. I had told her a few times that I understood she had to bid low to get the jobs, and had a business to run, but so did I.
I told her politely that I didn't know of anyone who would do it for under $800. Heck for one truck from 1800gotjunk, it would have cost over $600.
I do agree with you John that middleman/woman are not good when it comes to this line of work. They look at it like a real estate transaction and would a BIG cut of the pie. I rather work directly with the check writers myself.
Originally posted by Ann Bellamy:
Having said that, start by going to real estate investor assn meetings in your area. You will need to be able to respond quickly, because when a rehabber closes on a deal, the demo starts the same or next day.
Once you get to a REIA, you'll be able to find the local companies who handle hud properties, and perhaps connect with the companies who handle winterization and securing properties for the banks.
Unfortunately, it happened already. No big deal. Lesson learned.
Thanks for the tip. Rehabbers are definitely someone I want to talk to, but I am also looking to focus towards individuals and companies who deal with a lot of foreclosures.
We dealt with one lady who worked with this one company who gave them tons of foreclosures. We did the ones we could do. Only thing I never liked about working with her, is she paid you once per month, and it got to the point where we had to chase her down a few times to get paid.
Then we worked with 2 different guys who got properties all the time from private investors, and we would either get cash or a check before leaving the properties, or sometimes with in 28 hours of doing it.
We lost out, because they both started doing it themselves.
Would anyone handle hud properties or is it a certain type of company/person?
Also, what type of company's would handle winterization?
By "securing properties for the banks", I am guess you are referring to foreclosure properties.
I am asking, so I know what to look for at the REIA meetings.
I believe I still know of a website that lists all the ones locally.
Thanks for your advice.
Wasn't sure where to post this, so I figured off topic might be the best bet.
I have been wanting to expand my recycling business, and the area I live in (Northern Virginia) is a huge area for real estate investing.
You see foreclosures every where, remodels every where, additions being added and so forth.
What I am looking to do is getting with investors, banks, whoever that has foreclosures and to bid on their junk removal jobs.
Only issue is, I am not sure who that would be.
I have heard people talk about a few big companies that get foreclosures in all the time, but never any names.
If anyone has any ideas on the type of companies to contact, I would be appreciative.