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Dave Irelan posted a new Starting A Business thread on 11/8/2009

Real Estate Rehab

It seems with the economy the way it is in Denver, and all the foreclosures going on, that mortgage lenders or real estate inverstors might find it usefull to employ a rehab contractor. Someone to clean up and haul trash, or someone to remodel. I have been in the flooring business for almost 20 years now, I am wondering how to expand my business into real estate rehab, or remodel, or even ground up construction. The economy is flooded with fly-by-night operations, and its very hard to convince realtors and investors that I"m here for the long haul.
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Joseph Marino Responded on 11/8/2009


You may want to cosnider visiting a couple local realtors, look for the realtors that specialize in REO properties. Do a goodwill or discounted project to prove your experience and quality of work. Secondly start calling on some of the smaller local banks and credit unions. Drop off some donuts with your card and call them 2 laters in a follow up. You are right, there are a lot of fly by night companies, but at the same time, there are some large companies that have a hold on this market. Safeguard Properties and LPS being two of them. Lastly, stop calling yourself a rehab contractor, and start calling yourself a property preservationists.
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Leon Adelstone Responded on 11/21/2009


Why not "partner" with a R.E. investor. (Advertise locally on Craigs List under "Businsess" and "Financial".

The investor can lend money to each project (at a "fair" "Hard-Money rate), you can preform the rehab at a (very) fair rate; the business can pay for associated purchasing and sales expenses, and you can draw profits as you agree.
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Susie Davis Responded on 11/22/2009


Another alternative will be to get your business cards together and visit the Real Estate Investors Club meetings in the area that you want to serve and let them know who you are what you have to offer them. One thing I can tell you to encourage you is that the R.E Investors need you. Large companies may have a hold on this market, but there is nothing like small, personalized, face-to-face customer service.
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