Rv Foreclosure
Starting a Profitable Property Preservation Business
Copyright (c) 2009 Frank Patrick
$89,000 Revenues in One Month – One Couple’s Amazing Story
It hasn’t been a good economic time for most Americans. And Matt and Carrie Singleton were certainly no exception.
They had always run their own businesses – and for three years, they built commercial freezers for food distribution centers. They were doing fine. Then gas prices climbed – and the stock market crashed.
That double play stopped Matt and Carrie’s business right in the tracks in early 2008. Suddenly no one was building anything anymore. The couple had no other source of income – and no prospects.
Matt reacted as any guy might with a little money in the bank – he went fishing. But with savings dwindling and the economy still in shock, the couple knew they needed to do something. But in that bleak business climate – what?
Luckily, Matt went over one day that summer to help his friend Scott fix a roof leak. At that point, Matt had no idea what “property preservation” was, let alone that it was a business. Scott told him about the boom in foreclosures and how companies were desperately needed to help “trash-out” vacant REO (Real Estate Owned) homes in order to get them ready for market.
Matt started a training program that trained contractors to be property preservation professionals. That August, he and his wife decided to move to Las Vegas, one of the biggest foreclosure markets in America at the moment.
They drove their 5th Wheeler trailer home to Vegas, set up at the RV park and got to work. They didn’t know anyone in Nevada, didn’t know anyone besides Scott in property preservation and didn’t know anyone in the REO industry. “We had a lot of faith – we prayed a lot,” says Carrie.
They started slowly, but their expert training paid off. Gradually they built their new business, New Age Asset Management, into a trusted provider of foreclosure field services. Without ever having to open a line of credit or borrow a dime, they continued to grow to the point where they are now working with ten different companies – and in May, they grossed an amazing $89,000 in one month.
Not the kind of success story you hear much in these times!
But this sudden burst of income hasn’t spoiled the Singletons. They’re still working out of their trailer in the Vegas RV park! Right now, they’re too busy to move anywhere else.
About the Author
Frank Patrick manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.
For more information please visit http://www.REORESQ.com
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