Thread: Trash-out Service

Is there anyone out there that is doing Trash-out services for Foreclosures, that wouldn't mind throwing some pointer's my way on how to get started, ie who to contact, and maybe some information on how to insure myself.

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My son has a friend that works for some people who do the "cleanouts".

It is a lot of work for little money. Getting into it is very difficult cause most of the companies doing it have contracts with the banks and mortgage companies.

Everything they pick up has to go to the dump cause it is illegal to keep any of the stuff for salvage.

rick

I looked into it a little bit and was turned off pretty much for the reasons Rick gives.

A couple big companies control the whole thing. You can sign up with them to be one of the contractors but overall you get paid very little.

Really! I had never really heard the numbers, but I've had people telling me that I should consider it, because there is a lot of it available. I'm just exploring the idea, but I appreciate the feedback.

I know a couple guys who do cleanouts for a few realtors, some investors and commercial clients. They will only work straight for the actual client. They will not work for an intermediary outfit / national clearing house chain. They've looked into working for the REO clearing houses / banks and there isn't any money in it. They pay squat, the money goes to the companies.
Working for the actual clients they do Ok. At least around here, it tends to be dirty nasty work. They both (and their crews) throw clothes and boots away regularly. It's better than contaminating the home wash machine.
Neither does it regularly or wants to. They mostly do it on request and to fill empty construction days.
At least around here competition in the REO cleanout world is fierce. A lot of former contractors are doing cleanouts just to have some type of work. It's one of the reasons prices are so cheap.
If you can deal with the dirt, have an in with a bank or realtors and a wife who will tolerate the laundry, I guess go for it.
Realistically, forget it. Spend your time developing something better.

Yeah, I hear you Markus. The thought is fast becoming an afterthought in my mind. I haven't spoken to anyone with anything good to say about it. Thanks for the input!

I don't do much for banks because there is no money in it. I used to have a lot of realtors call me and we did it then. I went in another direction. I leave a flyer at each inspection for the seller. I am getting a lot of calls because there are very few doing it for homeowners right now. If it is a downsizer they have a bunch of stuff. I also put it on Craigs List and Freecycle. If there is a lot of stuff I have a lady that works for a waste disposal company and she sends out a dumpster. We fill it with trash and take what is saleble to the vendors at the flea market. We did one last Saturday that only required my trailer. We loaded it up and took it to the flea market. Sold the whole load for $250.00. I paid my grandson $50.00 and fuigured another $50.00 in wear and tear. Not bad for about 2 Hrs of my time.

I looked into doing property preservation along with home inspections. I couldn't find an insurance company who was willing to write a policy covering both operations under the same company.

Most banks are requiring general liability and E&O of a million dollars in order to do anything related to property preservation. A couple insurance agents suggested I form a second LLC just to do the preservation work.