Bussiness Idea, what do you think?

General Real Estate Investing
1

I am thinking about setting up a business where I go into rentals and put down fresh paint, clean the carpets and give the whole property a good cleaning. It would be like one stop shopping for a homeowner that is in between tenants and needs to spruce up the place before showing it to prospective tenants. It would be tax deductable for the home owner.
Alot of people are not “hands on” type of people and will pay someone before doing it theirselves.
What do yout think?

2

I think it’s a “Make Ready” company…these exist. It is hard work and yuou’re still really “working for da man”…but, you can get some leads that way (disgusted landlords) and learn some inside tricks while turning a little cash…

Keith

3

Definitely not a new idea as Keith said. If you can find a market that is lacking a business of this kind you can definitely do ok. If you’re competing head to head with established businesses in your market don’t bother.

4

"make ready"is that refering to having the property ready or something else. In my REI club this is no vendor like on the vendor list and we hae over 500 members.

I know it will be hard work, I am trying to figure out how much profit potential there is.

5

“Make Ready” refers to making a unit ready for the next tenant…

There will only be a profit if the demand is there and the market will bear the pricing you set…

Now, if you had 50 or so local hausfraus working for you part time…that might go well…

Keith

6

also I’m guessing your services will only be needed once every few years (although cleaning carpet might be an annual thing), so if you over work your market you could be sitting around waiting for tennants to be messy

7

There are a few people that do very well with that in my market as well. The key to making any money is the large apartment complexes from what I have been told. Typically those services also include tub reglazing or reshelling, counter top resurfacing, and tile resurfacing.

Eric Medemar

8

Plenty of room to expand with this business model. You can expand vertically by putting a few handymen and leasing agents on staff and turn into a full-bore property management company. You could also expand horizontally by cleaning and repairing commercial properties.

Your services could eventually extend to;

  • landscaping for rental properties as well as investor-owned properties awaiting sale
  • small scale construction by fulfilling the “build-to-suite” side of many office, industrial and flex-space properties
  • pest control
  • lead testing and abatement
  • etc.