Question

Topic: Strategy

Is It Time For A New Strategy?

Posted by Anonymous on 25 Points
Our Colorado based, family run business handles foreclosed and vacant properties, specifically (evictions, cleanouts, lawn maintenance, and winterizing). We've been around for less than a year, March 2008 to present. We started of pretty strong in all areas of our business, had good communication with 3 property management companies (REO Allegiance, Field Asset Services, and Safeguard) here in the US. About 4 months ago, workorders stopped coming in, we waited months to receive payment on some jobs, and now we can't even get return calls from hardly anyone at these companies, and when we do there's a lack of info about more work coming in. These 3 companies work directly with banks and mortgage companies, and we know that they have lists of local and regional contractors. If we're not hearing from them, how feasible would it be to try and drum up business on our own, through banks and mortgage companies? We see proprties all around town that are vacant and unkept. Could our slow down be affected by the number of properties on their books and the mortgage crisis? Any feedback is greatly appreciated.

--James G.
Diamond G Home Preservation
Colorado Springs, Colorado

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RESPONSES

  • Posted on Accepted
    I agree with Phil. If your business model allows you to get business directly from banks and mortgage companies, go for it.

    Plus, if the contracts left open are strong enough, initiate legal action. Be sure that your reputation will not be harmed if you are on the right side.

    Best luck!

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