RealtyTrac has listed the foreclosures for each state and shows which areas will have the highest number of foreclosed bank owned properties for investors to buy.
Asset Managers have list of REO's
Many foreclosed homes are owned by HUD, VA, Fannie Mae, and Freddie Mac, these REO's are listed by asset managers who have a large listing of foreclosures listed by lenders, other foreclosures are owned by institutions who list them by region.
Cost of Cleaning REO's
Cleaning these properties is costly, with the large amounts of trash and damage to the interiors of the homes the banked owned properties need to be secured by changing locks and securing windows, as well as draining swimming pools, next being the outside appearance of the real estate properties, clearing yard of clutter and mowing the lawns.
Towing away automobiles
Abandoned vehicles will have to be towed away and broken windows fixed, inorder for foreclosed homes to be ready for sale.
How to get started in foreclosure Cleaning Business
Develop a good business plan, then apply for a business license, get a bank contact list, bid on projects, market your foreclosure cleaning business, advertise in the property preservation directory, get list of REO asset management companies.
Foreclosure Cleaning in the Recession in L.A.
Some say that cleaning foreclosed houses for banks is the best business to start in a recession, I am not so sure, it raises questions of how is this type of business regulated, is the fair market price being obtained for the services given, could it lead to exploitation of labor workers who need a job due to unemployment in a bad economy? these are just some of the questions that I have been considering when looking into using the foreclosure cleaning business as a way to keep businesses going in a recession.
Banks need to sell these real estate properties as fast as they can, so they are looking for those late property investors who are now entering the real estate market to buy up cleaned out foreclosed homes at rock bottom two digit prices. Best place to look would be a foreclosure listing service.
How to start cleaning Repo Homes
Also known as Repo homes you can allow you to start a small business with cleaning repo homes in your local area, no need to travel depending on where you live. some of the more immediate services needed on repo properties is pool cleaning that is drained, refinished and covered as well as a grass painter, next hauling junk and debris, which could include hazardous materials.
The foreclosure market makes it easier for anyone looking to get into property preservation who do board ups and lock key also known as bank HUD foreclosures.
Rent to Own Foreclosures in United States
Will renting out foreclosed homes be the result of banked owned properties left for being unable to sell them? I think you will see a lot more REO rentals.
http://hubpages.com/living/Cleaning-Foreclosed-Houses-for-Banks
