Foreclosures?

[edub32]

I'm getting a little interest in mowing some foreclosures and was just wondering how one would get into this type of mowing? How would I contact the banks about my services? Would the branch have the ability to pay for the foreclosure mowing? What do you guys typically charge for a pretty long foreclosure mowing?

Thanks you in advance.

[STIHL GUY]

i have also thought about that idea but i have never really looked into it. if you do get in to it let me know how it works out. i have heard that you sometimes wait a long time to get your money

[Fannin's lawn mowing]

I have heard the same thing on the fact that it takes you awhile to get paid. It is just one more expense on something that is costing the bank money. I personally have tried to stay away from them

[JPsDuramax]

The banks will not deal directly with small LCOs. They are going with maintence management companies who want it done so cheaply it is not worth it. The reason I know this is I still have a few agents I work for directly but most of the houses they were giving me are now going to this management company. They got me on the list and they wanted to pay only $40 no matter what. Just my two cents.

[Allens LawnCare]

I tried to get some in NE CT, Three problems
1. They want it done dirt cheap!
2. Because they want it done so cheap they just want you to cut the 3ft grass, one pass, which means it's clumpy and looks like crap.
3. I see some guys doing a horrible job and I won't do that. For me, my quality speaks for everything. I will not go into a neighborhood with protential clients and do a garbage job. People will drive by see me, my truck etc and say "Man that guys does a terrible job" and guess what...no calls will come from it.

[Stillwater]

I have been contacted a few times this year. More than once by the same people asking me to reconsider. I require payment 1 month in advance and payment for the following months service received prior to agreed service dates. Banks and property management co's have a unique ability to "hide"

They are masters of delay tactics, If they intend to pay you at all they woulden't have a issue paying in advance for that months service or even that weeks service. I would avoid doing this unless you are paid in advance or this is the only work available.

[tradeyouraccounts]

Be careful when dealing with the management companies of the bank owned properties. Getting paid can be lengthily time process and if they don’t pay its hard to follow up on the over due invoices as they say they are waiting on the bank.

[onetightrex]

Hey guys, I have a few bank owned homes that I mow. I don't know how it works where you guys are from but in Maine alot of times these homes will be listed with a Real Estate agent . Check with your local Real Estate offices. The way I do it is the agent pays me, then they get reimburst from the bank, trying to get money from the bank is like pulling teeth. Pay has been great for me. If the pay isn't good don't do it, but understand they may not call you back. If you get in good with a Realtor it's a great thing, they know everybody. Hope this helps. By the way, stay away from Short Sales, you'll never get payed. Thats what an agent told me.

[SangerLawn]

3. I see some guys doing a horrible job and I won't do that. For me, my quality speaks for everything. I will not go into a neighborhood with protential clients and do a garbage job. People will drive by see me, my truck etc and say "Man that guys does a terrible job" and guess what...no calls will come from it.


This guy is going to be around for a long time…..extremely well said!!!!! I am so thankful for the Lco’s out there that do a terrible job because I know it wont be long until I am mowing there properties as well.

[djfanintn]

I called an agent yesterday about a property a mile from my house. I thought that would be nice to be able to run up the road and cut that yard. The house is in foreclosure.

Agent said it was handled by an out of town company and he hates them. He said they never come to cut the grass. I asked if he minded telling me what they were paying? His quote and I kid you not ... $25! for four, yes count them four acres!

No wonder they won't come cut the grass. I just laughed and thanked him for the info. :walking:

[TheMadOne]

In the experience I've had with Property management & Real estate companies, they are slow pay, or attempt to no pay. Mostly the few I have cut were vacant homes simply up for sale, and an open house or showing was happening the next day. They needed it done ASAP, my first few I did an invoice due on receipt, took me over 30 days to collect on all but one. It is still outstanding @ 45 days & the local Re Max agent who requested the lawn cut apparently has no intention of paying the invoice, likely that way from the start. Now the only way I'll mow for any Real Estate company is paid in advance... period no exceptions. They are only going to use you the one cutting anyhow, until the next time they can't find some poor sap to do it for 1/2 what you did the same day they called. If you are charging a reasonable price for your area & they hire you on the spot, it's because they need it cut NOW & shopping you out is not an option. The flip side is I landed a lawn across the street from the no pay after a home owner saw the caliber work I do, so it is not a total loss.

As for property "conservation" companies servicing foreclosures, they use LCOs like a cheap prostitute, screw the cheapest one until they find one even cheaper. Then delay paying as long as possible, at least in the experiences of folks I am familiar with. If you are really interested in doing foreclosed & abandon properties, then contact the local Health & public works department. Most people don't realize at least in most of the municipalities around here if the local public works has neighbors filing complaints the public works or health dept will have the place cleaned up and levy an excessive charge against the property holder. Go out, find some of those out of control properties, take some pictures & file a complaint, then get the job from their list when they put it out. The local government agencies usually pay pretty well, still slower than a good private account, but they do pay. Not too many radar dodgers are going to get in on that though as again most municipalities require proof of Ins, Proof of Work comp, a SSN or Tax ID number so they can file a 1099 or something like that for the income taxed.

Good luck

[Roosters]

These are my primary business. I collect the same rates on doing just a mow on these properties as I do for full service elsewhere. They do bi-weekly instead of weekly so it can be more of a chore, but most of the properties in foreclosure around me are .18-.38 acres. That said, I am a crossover and also do foreclosure securing and clean-outs.

I've never had a bank/realtor not pay, give me a hassle, or even pay late. I do invoice them with a 60-day payment due date though to allow them to jump through their own bureaucratic hoops.

[Stillwater]

Theft of services is rampant in real estate offices and bank owned properties. if everyone demanded payment in advance it would not be like this they coulden't get away with it. They do it becouse they know they get away with it.

[greentouchlawncare]

We have been mowing foreclosed properties here in Florida for about 2 years now. Our most hectic weeks were 300+ yards! With that said, I would consider myself EXPERIENCED enough to comment on this subject.

There are a few areas where a Realtor may be in charge of a Foreclosed Property..... If they are, they usually act no different than a property management company and they end up taking their share before you get yours. They are easier and faster when it comes to bidding TALL grass and other items. They usually pay 30 days out.

That being said, PROPERTY MANAGEMENT & PROPERTY PRESERVATION companies now hold a majority of the foreclosed properties here in Florida. Either one of these companies will expect you to wait 30 days from the invoice date. Some require daily invoicing and others require weekly invoicing.. it all depands on the company. Once in a while you will find one that will pay 7-10 days out (until they run out of funds and change things in the middle of the game)... had it happen 3 times already.

When we started mowing for them, we were required to take between 4-8 photos of each yard mowed.... not bad! However, alot of the banks are paying the Management & Preservation companies $0.25 each (we don't receive anything extra) for additional pictures showing the property (inside and out).. Since that has taken effect, some places we work for require up to 44 pictures of each job. Our prices have not increased a dollar and the time to upload and email pictures has increased to a full-time job for another person in the office. One days worth of photos can be as many as 2500. That's alot or emailing. To make it all worse, you usually only have 24 hours to complete the work, email the pics, and complete the ticket.

After mowing for about 8 companies, we have only found one that we haven't had to chase for our money. Our worst one owed us over 7K and it took us over 8 months to collect.... that's after the promises and after we stopped mowing for them all together.

My best advise. If you start mowing foreclosed properties... start small and see how the company you work for pays and treats you. If they are honest and do what they say, ask for more work. DO NOT take 200-300 jobs from the start and than chase your money for 6 months like we did!

DO NOT hire crews to do the work either as they only pay between $20-25 per yard. I say this because your help will kill your equipment and take longer to get things done than you will. A husband and wife team works great! There was a time when we could bid any yard taller than 12" but nowadays they just add another 10-20 bucks on top for you (when you call in from the site and email pics from site)... Did I mention that you also have to be wired for sound in your truck... Laptop with internet, iphone, GPS, etc....

I have tried every setup and every thought process for getting these foreclosures done fast and making them profitable.... I have yet to figure it out. It messes things up when they change things daily (photo requirements, time frames, bidding procedures, emailing formats, etc...) and if you mess one thing up in the entire process they consider it a NO PAY. I mean, miss a picture, forget a measurement, or even get a nasty gram telling you that they didn't receive the email with the photos in the alotted time frame... NO PAY!

I did some adding the other day and we have mowed over 25000 foreclosed properties.... They were most profitable when we mowed 75-100 a week with myself and the wife.

Hope this all helps. I'm sorry I didn't sugar coat anything but "it is what it is".

Green Touch Lawn Care

[tinman]

You will likely need to know someone in the bank or a real estate person you can trust. I did some years ago & they were a mess. Usually one time things so unless you got a ton of them I doubt it would be regular work