Question

Topic: Other

Foreclosure Clean Out Co. Needs Houses! Who Do I

Posted by Anonymous on 10/7/2009 at 12:10 PM ET 250 Points
Any specific person or people I need to hook up w/ besides REO real estate agents and "bankers"? Is there a Co. that realtors and bankers use?
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RESPONSES

  • Posted by Inbox_Interactive on 10/7/2009 at 12:26 PM Accepted
    I thought about getting into this business a year or two ago. I think you're on the right path as far as dealing with REO agents and REO departments.

    However, there are also companies that handle the whole REO management process (cutting grass, winterizing homes, changing locks). You might try to get on their list, too.

    I think these are pretty much regional, though. The companies I know about locally may not apply to you.

    You could also contact a paralegal at some of the larger law firms that handle foreclosures (they are usually dominated by a handful of firms in each region). They won't be the ones contracting for the service, but they can probably help you find the right people.

    As I am sure you already know, this is a tough business. There are a lot of people trying to do this. A LOT.

    You'll need something special, IMHO, to get in the door and stay there.

    I wish you well.
  • Posted by Gary Bloomer on 10/9/2009 at 9:21 AM Accepted
    Dear kkeeley760,

    Apart from banks and other major lenders, you might want to consider working with utility companies, automobile sellers, credit card companies, pay day loan companies, collections agents, neighbourhood watch organizations, CPAs, and tax attorneys.

    The thing is to be gently about this. You're looking not just a foreclosed homes here but at people's lives, so there's a great deal of fragility to consider and not just the profit and loss side of things.

    I hope this helps.

    Gary Bloomer
    Wilmington, DE, USA
  • Posted by Inbox_Interactive on 10/9/2009 at 9:27 AM Member
    Gary -

    I'm trying to understand the angle you suggested.

    None of these people/companies appear to have much to do with houses once they have gone to foreclosure and been taken back by the bank.

    They also don't seem to have any influence or decision-making ability when it comes to who clears out a house so that it can be assessed for repairs and eventually put on the market.

    Lastly, I do appreciate your sensitivity with respect to the fact that people have lost a house, but by the time the lender takes it back, the owners are usually long gone.

    Evictions post-foreclosure are not that common, and that's not part of the service that the original poster provides. (Evictions are usually done by the Sheriff's office or other law enforcement official.)

    I think what we're talking about here is simply removing the personal items and any debris that might have been left behind once the house is vacant.

    Thanks,

    Paul
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