The sad reality in which we live is that many people have faced or are facing foreclosure. When the economy crashed in 2008 and many homeowners were left with large mortgages they could not afford, they were left with a big problem. Banks are dealing with homes that they have to take from homeowners, handle and then resell and hopefully make a profit; though many are just hoping to recoup even a fraction of the money they lost when that loan went into default. The problem for many of us is that we view foreclosure as a good thing at times.
I did when our dream house popped up out of nowhere for a price that was ridiculous. My husband and I were living with newborn twins, a 3-year-old and a 5-year-old in our 1,500-square foot starter home. We’d built it nearly a decade before when we were young and not having kids for many more years. When the twins were born, we were put on the fast-track to finding a new, bigger house. We bought the quarter-acre lot next door to our old house, began the building process and realized it’s not so simple with easements and all that to put a house the size we needed on a lot that small.
It also wasn’t easy to find a house with five bedrooms and at least three bathrooms anywhere near us for under ¾ of a million dollars. That wasn’t in our budget. When our dream house in our dream neighborhood showed up for less than half of what it’s worth as a foreclosure one day after being rejected yet again by the city for the house plans we’d submitted, we made an offer. Lo and behold, our offer was accepted. We never would have been able to afford this neighborhood, this kind of house and this amazingness if we’d paid full price. We were thankful for that foreclosure.
Of course, we don’t think foreclosure is a good thing for those who are going through it. Our hearts hurt for those losing their homes in such a tragic manner. However, we cannot help but point out that foreclosures can be quite profitable to those who see them in a different light. For us, it meant living out our dream in a neighborhood that makes people raise an eyebrow and say, “Oh, wow!” when we tell them where we live because they know it’s not easy to afford anything in here. For some, it means making serious money on the side – even a career if you can do it.
We’re talking about profiting off of foreclosures, and we think you can do it. It’s not all that difficult, but you will need an in to get the job done. You see, when a house is foreclosed, banks want to get it back on the market as soon as they can so that they don’t have to sit on that loss. They want to sell it and be done with it. That’s why they need someone to go into the house and make it market ready. It might mean just cleaning up the mess that’s left behind – floors, counters, bathrooms, windows and whatnot. It might mean cleaning out junk that the former homeowners left behind when they moved out.
It might mean touching up a bit of paint or even doing a bit of weeding in the garden. Either way, it means money in your pocket if you have cleaning supplies and the ability to do a little hard work for a few hours; and it pays well. Based on information we’ve uncovered, you can clean a foreclosure for a bank for anywhere from $500 to $3,000 depending on the size and the scope of the house and the mess that’s been left in it.
All you need to do is a good job; and you need to know someone. That’s where we come in. Do you know a real estate agent? If you do, ask him or her to recommend you to banks when they list a home as a cleaning company. Make up some business cards, set a rate based on square footage or hours worked or whatever you see as appropriate and ask your realtor friend to recommend you for some work. Do you know someone at the bank? Do the same thing; ask them to recommend you to their people when foreclosures come in so that you can have a little extra work on the side. It can turn into quite the lucrative business if you do it right, and that’s a nice side job to have when money is tight. The best part is that while cleaning is not fun, it’s not a job that will take forever, either; so your free time will become more important to you.
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