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View Full Version : Mow repo homes until they are sold?


bedbug
03-25-2007, 10:52 AM
Has anyone worked with a homeowner or bank to maintain property until it sells Looks Like a huge markets is available.

Duekster
03-25-2007, 10:54 AM
I think the cities are behind this.

Coumbe
03-25-2007, 11:15 AM
They don't pay enough and they will make you drive a long long way for one over sized / under priced yard.

Duekster
03-25-2007, 11:16 AM
They don't pay enough and they will make you drive a long long way for one over sized / under priced yard.


And likely over grown

Coumbe
03-25-2007, 11:42 AM
And chains, cables, rocks, bricks, dog leashes and a ton of other thing waiting for you mower in 14" grass.

bedbug
03-25-2007, 01:59 PM
the housing market is loaded with homes for for closure ,the real estate broker and banks need this property to look good ,who is doing this and how are you getting paid?

WALKER LANDSCAPE
03-25-2007, 02:16 PM
We do work for a house flipper here. We try to maintain a schedule for them. It kinda get screwy sometimes. They pay for it thou. After we have removed the bricks and dog leashes and dead bodies lol. The new installs make some good money.

tacoma200
03-25-2007, 02:34 PM
We do work for a house flipper here. We try to maintain a schedule for them. It kinda get screwy sometimes. They pay for it thou. After we have removed the bricks and dog leashes and dead bodies lol. The new installs make some good money.

Yea, that's part of my business some years. I have had to bring in a tractor the first time. Once I had to haul the grass away on a farm wagon (subbed all that out). But I charged high and they paid, what choice do some of them have. I has to look good to sell. After the hard work is done you have good money mowing until it sells.

corey4671
03-25-2007, 03:17 PM
if they didn't have the money to keep the house current and pay the mortgage, do you REALLY think they'll pay you to mow the grass?

tacoma200
03-25-2007, 03:24 PM
if they didn't have the money to keep the house current and pay the mortgage, do you REALLY think they'll pay you to mow the grass?

The bank or company that handles the foreclosure has plenty of money and you are making them money by making the property more attractive to buyers. The banks and companies I've done this for have always paid what I asked. Never a problem. I sub out any work that I don't specialize in such as cleaning up trash, bush hog, etc. add my fee on top of that and send them a bill. It is no trouble finding someone to help clean up these messes. Its good business and pays better than standard residential after you get it in good mowing condition.

RandyS
03-25-2007, 03:26 PM
Bank pays, they have money.
Years ago I worked with a Prudential Real Estate place and they were fine. Places weren't bad and they paid on time. You might get other work out of it also, house clean outs, etc.

MSS Mow
03-25-2007, 03:44 PM
The bank or company that handles the foreclosure has plenty of money and you are making them money by making the property more attractive to buyers. The banks and companies I've done this for have always paid what I asked. Never a problem. I sub out any work that I don't specialize in such as cleaning up trash, bush hog, etc. add my fee on top of that and send them a bill. It is no trouble finding someone to help clean up these messes. Its good business and pays better than standard residential after you get it in good mowing condition.

Same here. No problem at all getting paid and getting paid very well. If I traveled, I was paid the same rate as if I was sitting on the mower. Some were more than 2 hours away, one way. As long as they are willing to pay for windshield time, I'm willing to put in the time.

The only downside is sometimes the first cleanup is a mess. I would suggest using an old mower the first time around. I always take my old Crapsman on any of the bank's 1st mows. After that, the Z's come. Banks usually just want the yard to be presentable, nothing special though. Trim every other time.

corey4671
03-25-2007, 03:47 PM
ok, you've sparked my interest. how do you go about finding these accounts?

topdog
03-25-2007, 03:55 PM
the bank i work with only want there repos done every other week. the good side is they usually always need a good clean up before you can mow it the first time. i also work with one of the local realtor's. the only downside is they wait a lot until last minute and want you to mow a house before they show it the next day. sometimes the same day as they call.

deereman
03-25-2007, 05:05 PM
Yse we do and i think that Topdog and I must work for the same outfits! It sounds just like the banks and realtors that we work with. The only thing that I dont like is mowing and overgrown lawn and not knowing what lies underneath all the vegitation. But we mow high then drop it down and remow it and they do pay well for troubles. However I would not want to do these solely for a living.

supercuts
03-25-2007, 06:15 PM
i work with a realtor who throws me a bit of work

ed2hess
03-25-2007, 06:28 PM
ok, you've sparked my interest. how do you go about finding these accounts?

You need to think about this......are they going to be standing there with cash when you get finished, I think not. Chasing down money from these bank foreclosure lenders/selllers will be a nightmare. Better to go home to home and knock on doors where the grass is big and the homeowner is at home.

Precision
03-25-2007, 06:42 PM
You need to think about this......are they going to be standing there with cash when you get finished, I think not. Chasing down money from these bank foreclosure lenders/selllers will be a nightmare. Better to go home to home and knock on doors where the grass is big and the homeowner is at home.

Pay attention to the quoted post.

PAID IN ADVANCE only.

Make sure you do a thorough walk through first as well.

These people are cheap Cheap And CHEAPER.

They know that there are tons of lawn guys and their last guy got fed up with late pay, no pay, underpay, so now they figured they would restart the cycle with you. Dangling the we have 50-75 homes that you can maintain if you do well on these couple. When in reality, they only ever have a couple and they are always dirt lots loaded with bricks and sink holes.

Paid in advance and worked into my existing schedule or I don't even think about it.

And yes I have been burned a few times ALREADY. And how do you put a lien on a foreclosed house. Answer is you can't and they know it.

Woody82986
03-25-2007, 07:58 PM
I recently started working for a realty company that owns 220 rent homes around the metroplex. Not cheap rent homes in run down neighborhoods but higher end $150,000 to $250,000 rent homes in newer sub divisions. She just gives me a list and I work them into my schedule over the week. Most of them always need a clean up, but the normal work is a mowing service, flower bed clean out, hedge trimming and mulch install. They haven't yet tried to talk me down on an estimate and as long as I get the invoice sent via e-mail by the end of the work day on Wednesday, they cut a check on Friday. Pretty cool set up if you ask me. They aren't looking for miracles... just for the lawn to look decent until they get it leased.

MSS Mow
03-25-2007, 08:28 PM
You need to think about this......are they going to be standing there with cash when you get finished, I think not. Chasing down money from these bank foreclosure lenders/selllers will be a nightmare. Better to go home to home and knock on doors where the grass is big and the homeowner is at home.

I have to completely disagree. If a lender has hired you to do work for them, wether it's actually their property yet or it's still in foreclosure, they will pay you regularly. Just bill them like you would any other client and any bank worth its salt pays their bills at least weekly, sometimes more often. When dealing with a foreclosure, you deal directly with the bank. They will pay any bills associated with the property INCLUDING lawn mowing, snow plowing, HEAT, ELECTRICTY, winterizing expenses, etc, etc, etc. They will protect their investment.

I have to ask...how many of your other clients are standing there with cash when you get finished?

Corey....just contact your local banks and ask to speak with someone in collections (or more often now-a-days called asset management) and tell them you are interested in servicing their foreclosed and bank owned property.

The Captain
03-25-2007, 11:29 PM
Watch the way you word your contract/agreement. (Don't do this type of work on a handshake. Get it in writing.) Do you expect payment at completion of job (that day), on your invoicing cycle (monthly), at closing (sale of property) or end of listing contract (if you're working for an agent). You can be in for a long wait (although you will in most cases get your money), if you chose one that is wrong for you.

I've done this work before and never was stiffed. The agent and the broker want to protect their reputation just as we do.

CYA....and good luck this season..

ncls
03-25-2007, 11:51 PM
Well, we did the work, but for a city looking to keep the homes in their city looking good. The city inspector would go out, and make note of lawns with growth over 6". Send them a letter. Place notices on the property. 3 days later, we would get the address and told to cut it. Bill the city 75.00 per hour. Clean up eyesore properties too. 75 plus disposal fees. Just bill the city. Got paid, no questions. Did have to have the police watch us mow one property though..That was a little scary..

I would not recommend doing it for the homeowner directly, though. If they claim bankruptcy, you will never see your money.

dhardin53
03-26-2007, 06:08 AM
ncls:
I do the same work for the city here in IL. We have a city ordinance that gives the city the right to clean up/mow, it called a nuisance or health issue dealing mostly with abandoned property. I mowed on average about 60 yards a year for the city. Some are very interesting.

Its very misunderstood about bankruptcy and foreclosure. The Bank has already lost money on the property or it would not be in foreclosure. And he banks has no legal responsibility to spend money and add to the debit on the property. Its the same for the realistate co.

So the city will contract with me to mow abandoned property after a city inspector is called and investigates the mess. Takes photos and mails the title holder of the property and gives then 10 days to clean it up. Most the time there is not response so City will put a lean on the property for my mowing a small fine and the Court/attorney fees.

The pays great and there are very few of my LCO compositions want to put the mower in such dangerous yards. So the profit is high but there are times I'm welding things back together. All in all I don't mind it and so fare really have not had to much go wrong.

mosmgras
03-26-2007, 06:44 AM
A friend of mine contracts to clean houses (inside and out) that have been foreclosed. Sometimes, I will mow these properties. If it wasn't for the friendship, I wouldn't do it. As mentioned before, there are always surprises waiting in the weeds. I walk every inch of the property then mow at a painfully slow rate in order to insure my equipment is still running when I'm done.

Oh yea, and the pay... well, like I said, if it wasn't for the friendship...

AllProLC
03-26-2007, 10:00 AM
We do repo/foreclosure work as fill in. As mentioned by others on 2wk mow schedule. First mow you need to walk property...look for branches, beer/liquor bottles,etc...some of these homes are in bad areas, but have done 1 million dollar homes that have been repo'd. Always paid lock clockwork!!

MSS Mow
03-27-2007, 05:38 AM
ncls:


Its very misunderstood about bankruptcy and foreclosure. The Bank has already lost money on the property or it would not be in foreclosure. And he banks has no legal responsibility to spend money and add to the debit on the property. Its the same for the realistate co.



The banks may not a legal obligation to maintain the homes, but they would be foolish not to. These homes are now theirs. In fact, there are things they must do to maintain insurance on them...such as plowing the driveway, winterizing the pipes, making sure the house remains locked and secure.

Banks don't always lose quite as much as some suspect on foreclosures. Obviously, there are exceptions.