All Forum Posts by: Ty Hines

OH I almost forgot.
We start work on Jan.11!!!!!

Just wanted to give a quick update. We have been very very busy trying to pull everything together for the upcoming project such as creating a operations model, creating a pay scale, creating a budget, creating rules and regulations for our sub-contractors, trying to find qualified sub-contractors to hire and the list goes on and on and on!!!!

A couple of weeks ago we received our assignment of houses and while we asked for a work load of about 70 houses a month, due to the lack of qualified contractors we were asked to handle close to 300 houses PER MONTH!!!!!!! CAN YOU IMAGINE OUR SURPRISE???

Due to the fact that the pay period is on a monthly schedule and they have up to 45 days to pay the contractor this presents a problem for us in the form of operating cost such as supplies and payroll so we are currently searching for a financial investor to share in the rewards!!!

WISH US LUCK!!!!!
We would hate to turn down such a wonderful opportunity!!!!

Will keep everyone posted!!!!

Hi David,
Welcome to the BP nation. You will find this site to be very informative and a great source for building your network.
I live in the Atlanta area and would like to network with you and see how we can help each other.
Be sure to stay active here and ask plenty of questions.

Wade, Thats a great idea! Something to look into. As I mentioned at the start, very few people know about the business and even fewer are willing to share information.
I'm sure that would be a great venture.

Robert, As Pamela mentioned its basically getting the properties back to a condition in which the banks can sell them. There is a website in which you can learn more about the business.

www.cubicyard.us

Also there are internet groups that you can join and learn plenty of info. Try doing a google search for property preservation contractors in your state and contact them directly to work as a sub-contractor. There IS a need for contractors.

Hope this helps.

Wade- You are right there is the potential to make plenty of money and great minds think alike when it comes to getting "first dibs" on the REOs but we have to first make sure that there is no conflict of interest.Which I dont think there should be but we want to play it safe.

Andre- Glad I can help. I would like to read that book. Who is the author?
I guarantee if you stay active on BiggerPockets you will be very very happy!!!!

Jose,Ted and Maria thanks for your comments. This is a new area of business and we see the potential to make alot of money.

Thanks Nick,
That means alot. Looking at several ways to make money is the only way to survive.

Hello to All,
This is a success story only made possible by BiggerPockets. Recently I made a post about a finance program that Im a broker for here in Atlanta. I later was contacted by a young lady who also lived in the Atlanta area and wanted to learn more about investing and also to receive more info on the program. Once we looked at the situation we decided that this program was not a good fit for her. Needless to say we were both disappointed.

During our conversation there was mention of property preservation. Which we all know to be a very good business at this time. For those who dont know, property preservation is the business of cleaning,securing and maintaining foreclosed houses for the bank. At one time I sought information about the business but kept getting the runaround.So you can imagine my excitement when I found out that she had a contact with an asset manager who at the time were looking for contractors in the Atlanta area.

Since she had already began the application process we were able to join forces quickly and when we meet with the company rep he was very impressed with our organization especially the contractors, equipment and amount of knowledge we had concerning the fannie mae and HUD guidlines concerning property preservation. Keep in mind that these books were two inches thick. Everything went very well and we were invited to attend the industry meeting which will be in a few weeks.

So you see I am very thankful to BiggerPockets for making this relationship possible.

BTW- The company rep informed us that they are expecting around 4,000 properties in Georgia in the next few months. All which require preservation services. WOW!!!!

Thanks Josh!!!!!

P NW- Thats funny, I love to cook also especially baking. At one time I thought I wanted to be a chef.

Micheal P- You have a few things to be thankful for. First you made SOME money on your deals. Second you dont have a family to support NOW. And Finally you have the smarts to change your investment goals from short term to long term. From what I read on BP, texas is great place for apartment investing.