REO RESQ

Trash Out Company REO RESQ Founder, Frank Patrick, On Foreclosure Trash Outs and When Lawns Turn To Jungles

admin — Mon, 30 Aug 2010 16:02:11 +0000

Frank Patrick, founder of foreclosure clean out and property preservation franchise REO RESQ™, explains how the lack of property preservation leaves foreclosure lawns a growing menace.

Scottsdale, Ariz. – August 30, 2010 – In a recent article by Frank Patrick, one of the country’s top property preservation and trash out experts, Frank writes that with the start of summer, foreclosure lawns are turning to jungles, causing these properties to become an eyesore in many American neighborhoods.

In the article titled “Foreclosure Trash Outs: When Lawns Turn To Jungles,” Frank describes how overgrown lawns on REO properties in Florida, Missouri and Illinois, among others, are generating numerous complaints from neighborhood residents. These areas are experiencing the same problem that other cities all across America are dealing with – finding the responsible party for foreclosed homes that are in limbo.

“Many lenders are delaying foreclosures to allow the borrower time to apply for a loan modification or attempt a short sale. Many times the borrower simply gives up during the process and abandons the home. It is during this period of time in which the home is not yet foreclosed on and the borrower is not caring for it that the lawns get out of control. Many in the industry speculate that some lenders are procrastinating when it comes to foreclosing on these properties even after they know that the borrower has given up and has no intention of continuing to maintain the property. Since the owner has abandoned the property and the lender has not taken it back, the grass and weeds grow out of control. But blaming the banks is far from the whole answer – the unprecedented flood of foreclosures has left them overwhelmed,” wrote Frank Patrick.

“Once a property preservation company has been hired to perform a foreclosure trash out, they usually have the added responsibility of regularly mowing the lawn and maintaining the home to the local housing codes. This enables the home to keep up appearances and prevents the appearance of a whole neighborhood falling into disrepair,” Frank continued.

In addition to being the founder of the property preservation franchise REO RESQ™, Frank Patrick is also the founder of American Society of REO Specialists™ (ASREOS). Patrick was recently featured inNewsweek, The Wall Street Journal and USA Today for his expertise and success in the REO Sales and REO agent training industry.

Read the entire article at http://www.reoresq.com/articles/foreclosure-trash-outs-when-lawns-turn-into-jungles.php

For more information on Frank Patrick and REO RESQ™ please visit http://www.REORESQ.com

About REO RESQ™:

REO RESQ™ was begun by two brothers with the perfect blend of credentials – one with an extensive background as a top REO broker, the other with years of experience in construction. Starting as a small family business in Kansas City, Missouri, REO RESQ™ offered property preservation and default management services to banks, lenders, asset management companies and REO agents.

In the past five years, the success of REO RESQ™ resulted in it becoming the first nationally franchised company providing comprehensive property preservation and asset management services for REO properties. REO RESQ™ provides the full spectrum of Property Preservation services including:

Inspect – occupancy and property condition inspections

Secure – lock changes, lock box installation, evictions, board ups

Preserve – winterization, emergency repairs, pool service

Prepare – trash & debris removal, janitorial service, landscaping

Repair – repair of minor health and safety issues, code violations

Maintain – ongoing lawn care, maid service and pool maintenance

REO RESQ™ guarantees quality work delivered on your schedule to get your REO listings “ready for market” – and looking their best for a quick sale. All our franchisees are fully licensed and properly insured – and trained by REO field service experts to provide the level of property preservation service that you desire. We strive to limit your out-of-pocket expenses while providing world-class service.

REO RESQ™ understands your business – because it’s our business.

For more information please visit http://www.REORESQ.com

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager. As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry. After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes. Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 9 years. In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes. Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success. This year their property preservation business is on track to gross over one million dollars in revenue. Today Frank 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.ASREOS.com and http://www.REORESQ.com

Foreclosure Trash Outs: The Golden Opportunity

admin — Mon, 30 Aug 2010 11:58:13 +0000

I’ve shared lots of success stories about people who restarted their careers (and their lives) by starting a property preservation company. You’ll find the latest one in my new article, “Property Preservation Can Mean a Whole New Life”.

The story of this couple, the Hosers, isn’t all that different from the others’. They had their own contracting business, which, unfortunately, they began in 2007, just as the economy really started rolling downhill. So they established a division of their business performing foreclosure trash outs – and soon discovered that new division was making most of the money.

If they hadn’t gone into the property preservation business – they might not have a business here in 2010. It’s clear they discovered, as many others have, that property preservation is the biggest foreclosure business opportunity in today’s economy – and that discovery made all the difference to their bottom line.

Many others haven’t been so lucky in recent years. But the fact is the property preservation opportunity is still out there – and even bigger than ever before.

Instead of foreclosures going away, as many so-called experts predicted last year, now they’re expected to continue in record numbers for at least the next two years. All those vacant homes will require foreclosure trash outs as well as ongoing maintenance until they’re sold. And that’s the job of property preservation companies.

If you’re in need of a new line of work – and looking for one that’s both easy and, in most cases, highly profitable (all you need is a truck and some basic tools) – think about property preservation.

With the right “insider” training, you’ll have an immediate competitive advantage – and no shortage of available work, depending on what area you’re in. My brother Scott and I can give you that invaluable insider training – we have 20 years of experience in the field between us and we know what it takes to succeed.

If you or someone you know needs a new money-making career, please visit our REO ResQ™ franchise site at www.REOResQ.com for more information about how to join the fast-growing and lucrative property preservation business.

Trash Out Company REO RESQ Founder, Frank Patrick, Discusses The Danger of REO Properties With Neglected Pools

admin — Fri, 27 Aug 2010 18:17:10 +0000

Frank Patrick, founder of foreclosure clean out and property preservation franchise REO RESQ™, writes about how neglected swimming pools from foreclosed properties are posing a threat to neighborhoods.

Scottsdale, Ariz. – August 27, 2010 – In a recent article by Frank Patrick, one of the country’s top property preservation and trash out experts, Frank writes that with foreclosures hitting another record high in May2010, REO (Real Estate Owned) homes are causing a huge demand for property preservation services. The summer months also help cause a greater need for these services – specifically when it comes to overgrown lawns and neglected swimming pools.

In the article titled “Foreclosure Trash Outs: Problem Pools,” Frank describes how neglected swimming pools on REO properties are creating a neighborhood health and safety hazard that becomes markedly worse in the hot summer months. “Unfortunately, because there are still so many homes in limbo all across America – the residents have left, but the banks have yet to officially foreclose – tens of thousands of swimming pools aren’t attended to,” remarked Frank.

Frank writes, “The biggest problem, perhaps, is being able to locate these vacant homes to attend to these recurring and dangerous problems. The processing time for foreclosures is becoming increasingly longer, due to the record-setting numbers, and that means more and more homes are “off the radar.”

“The immediate need for property preservation companies to perform foreclosure trash outs and other vital tasks such as pool maintenance is obvious. Demand for these companies is already at an all-time high and a proven lucrative career choice in these tough economic times,” Frank continued.

Frank’s nationwide franchise, REORESQ™, is helping entrepreneurs all across the country start up and successfully operate property preservation franchises. Frank believes that 2010 will provide incredible opportunities for field service companies, property preservation contractors, and trash out businesses. Frank and his brother, Scott Patrick, have already trained many franchisees in foreclosure trash outs and launched incredibly successful property preservation careers for people who had never done that kind of work before.

Read the entire article at http://www.reoresq.com/articles/foreclosure-trash-outs-problem-pools.php

For more information on Frank Patrick and REO RESQ™ please visit http://www.REORESQ.com

About REO RESQ™:

Inspect – occupancy and property condition inspections

Secure – lock changes, lock box installation, evictions, board ups

Preserve – winterization, emergency repairs, pool service

Prepare – trash & debris removal, janitorial service, landscaping

Repair – repair of minor health and safety issues, code violations

Maintain – ongoing lawn care, maid service and pool maintenance

REO RESQ™ understands your business – because it’s our business.

For more information please visit http://www.REORESQ.com

About Frank Patrick:

For more information please visit http://www.ASREOS.com and http://www.REORESQ.com

Foreclosure Trash Outs: Property Preservation Can Mean A Whole New Life

admin — Thu, 26 Aug 2010 21:55:18 +0000

The Biggest Foreclosure Business Opportunity Is Also a Second Chance

The property preservation business isn’t the most glamorous one around – and performing trash outs on foreclosures isn’t for those who don’t like to get their hands dirty. But in a huge recession that’s heading back downwards, it is economic salvation to a growing number of people looking for a new career.

With the record number of foreclosures not expected to abate until late 2013, according to some housing experts, there has been a corresponding record number of jobs and income available to property preservation companies that know how to take advantage of the current real estate crisis. Start-up costs are low and experience isn’t necessary; proper training is. And some of those who have had that training have found themselves making up to 5 figures a week.

Bill and Donna Hoser are one married couple that found a new life by starting a property preservation company, according to a story this August in “The Bradenton Herald.” The Hosers, who live in Bradenton near the west coast of Florida, opened their own business, BWTC Construction and Remodeling, in early 2007. Their intent was to focus on residential construction.

However, the economy went sour soon after that – and Florida was one of the hardest-hit states, in terms of foreclosures and a lack of new construction. So the Hosers decided that since they were handed lemons, they should make lemonade – and began an REO (real estate-owned) property preservation division, performing foreclosure trash outs on abandoned homes for REO sellers. That division has ended up accounting for most of the couples’ company’s business to date.

Bill Hoser is pragmatic about the need for his services. “Obviously it’s unfortunate that it’s the result of someone else’s personal tragedy,” he told the Herald. “But it’s more a matter of there is a job to be done and someone has to do it.”

The couple has been stunned by what they’ve found left behind in these foreclosures. Recently, the former owner of a foreclosed home had passed away and left two perfectly good cars in the garage. The bank still hasn’t figured out what to do with them.

Building a good reputation, learning what the industry requires and being able to work with the banks has been the key to the Hosers’ ongoing success. “The bank might call and say ‘We’ve got a home with a broken pipe that is flooded right now,’ and we would be there immediately,” Hoser said. “Next thing they (the banks) are saying, ‘These guys aren’t too bad.’”

Having inside knowledge can clearly open doors quickly in the property preservation field. A valuable resource for training those new to the property preservation business is the nationwide franchise, REO ResQ™, run by property preservation experts Frank and Scott Patrick. They’ve already trained many franchisees in foreclosure trash outs and launched incredibly successful property preservation careers for people who had never done that kind of work before.

Visit www.REOResQ.com for more information.

Foreclosure Trash Outs: The Big Cities Want Action

admin — Tue, 10 Aug 2010 15:55:15 +0000

They say all the big trends begin in California.

Well, this past July, the Los Angeles city council passed an ordinance requiring banks and other asset management companies to perform prompt foreclosure trash outs on abandoned properties they were responsible for, making it the biggest city to date to pass such a law.

There is usually a limbo period between the time when a mortgage holder is notified that they’re in default and the time when the lender actually takes possession of the property. That’s when the abandoned home begins to become an eyesore and a health hazard. As more and more foreclosures have been piling up all over the country, the longer it takes for lenders to take title.

The L.A. council is insisting the lenders begin attending to the properties as soon as the mortgage default notice is sent out. And they’re willing to fine the banks up to $100,000 if they don’t comply.

Other cities hit hard by foreclosure are considering similar laws, including Chicago and, one of the country’s biggest foreclosure hotspots, Las Vegas.

This means that the foreclosure business opportunity of property preservation is going to continue to heat up. Increased, urgent demand for foreclosure trash outs will be forthcoming from lenders suddenly under the gun.

Prompt property preservation is really necessary to help neighborhoods and even help public health. Read the story of this deceased woman’s home in Oregon at http://tinyurl.com/2drkftx – where neighbors are forced to live next door to mountains of rotting garbage and a home without power containing multiple refrigerators filled with spoiled food.

Obviously, we need to prevent these kinds of situations from happening – and swift foreclosure trash outs is the answer.

Foreclosure Trash Outs: Property Preservation Demand Skyrocketing

admin — Tue, 10 Aug 2010 15:50:47 +0000

Government Demands and Record Foreclosures Mean More Business Opportunity

Property preservation companies – those that clean up, repair and maintain foreclosures – can look forward to a lot more jobs. Even those that are already working around the clock.

The shadow inventory of abandoned homes – properties that the banks have been delaying declaring as official foreclosures – is finally hitting the streets. Most major banks, such as Citibank and Wells Fargo, have recorded double-digit increases in their REO (Real Estate Owned) inventory because of the backlog, which some financial analysts estimate to be as high as 7 million homes.

Meanwhile, new foreclosures keep coming – with 3/4s of America’s major cities recording an uptick in mortgage defaults in the first half of 2010. Over 300,000 homes face foreclosure every month. And Fannie Mae, the mortgage giant, says that it expects its inventory of repossessed homes to increase significantly through the rest of the year into 2011.

Unemployment may be continuing to plague America, but property preservation is clearly the biggest foreclosure business opportunity around.

Banks are also being forced to clean up abandoned homes more quickly by many local governments. The city of Los Angeles, for example, passed an ordinance in July, that levied fines up to $100,000 on financial institutions who didn’t act swiftly enough on having foreclosure trash outs performed on vacant properties.

Traditionally, banks don’t take responsibility for the condition of these homes until they officially take ownership – the L.A. city council now insists that they must take care of the properties as soon as they’ve notified the owner that the mortgage is in default.

Other major cities, such as Chicago and Las Vegas, are considering similar ordinances, which are becoming more and more common all across the country. This kind of legislation will further increase the demand for property preservation services.

If you want to start a property preservation company, the requirements seem fairly simple: get a truck and some basic tools as well as the proper licensing and insurance, and you’re good to go.

However, the right training is critical to success, as you must be familiar with what’s expected when performing a foreclosure trash out, how to deal with the large national companies that traditionally hire property preservation firms, and just what level of insurance is required – many beginners actually end up spending thousands more than they need on their coverage.

A valuable resource for training those new to the property preservation business is the nationwide franchise, REO ResQ™, run by property preservation experts Frank and Scott Patrick. They’ve already trained many franchisees in foreclosure trash outs and launched incredibly successful property preservation careers for people who had never done that kind of work before.
Visit www.REOResQ.com for more information.

Foreclosure Trash Outs: A New Standard Brings New Profits

admin — Tue, 27 Jul 2010 21:48:26 +0000

The news for property preservation companies keeps getting better. Unless, of course, some of those companies are getting tired of working so much!

In my new article, “Powering Up Property Preservation,” I quote Robert Klein, chairman and founder of Safeguard Properties, a national property preservation company, who talks about how selling foreclosed homes has become much more competitive. Which means a whole new level of property preservation is required to restore foreclosures to a state comparable to other conventional real estate for sale.

It used to be enough that REO (Real Estate Owned) homes sold for less. That was their main attraction to buyers. Now that there are millions of REOs out there on the market, sellers want them to look better – and even smell better.

Believe it or not, language is even changing. Safeguard, which does about 1 million property inspections a month, is beginning to call foreclosure trash outs “maid service” (no, I’m not joking) – and “cash for keys” is becoming known as “relocation assistance.”

When they start changing the words like that, you know it’s serious. And you know it just means more of an expansion of work for property preservation companies. The more they want to upgrade the look of an REO, the more they’ll need from foreclosure trash out companies…oh, excuse me, I mean “maid service” companies.

All kidding aside, no matter what they call the service we perform, they still need pros like our REO ResQ™ franchisees to deliver. My brother Scott and I train our people to make sure they know how to handle any property preservation challenge – and that’s the kind of experience and expertise that outfits like Safeguard appreciate.

Foreclosure Trash Outs: Powering Up Property Preservation

admin — Tue, 20 Jul 2010 21:44:53 +0000

Higher Property Preservation Standards Means More Business Opportunity

More foreclosures on the market and more competition in this home category means a whole lot more business opportunity for property preservation companies, the firms that perform foreclosure trash outs to prepare these abandoned homes for resale.

The inventory of foreclosures continues to increase and to reach more record-breaking heights in 2010. Banks are still dealing with their huge backlog of these vacant homes, as well as all the many new foreclosures still occurring due to the weak economy. That’s added up to a “perfect storm” when it comes to the incredible number of vacant homes that require foreclosure trash outs.

And, interestingly enough, it’s also become about more than performing those basic foreclosure trash outs. With REO (Real Estate Owned) properties becoming more and more prevalent – and distressed properties comprising almost a third of all real estate sales so far in 2010 – it’s no longer enough to market a foreclosure whose main selling point is the fact that it’s cheaper than a comparable home being sold by its owner.

Recently, at a property loss mitigation conference, Robert Klein, founder and chairman of property preservation company Safeguard Properties, told a panel that the stakes are much higher now when it comes to getting REO properties ready for sale. The process is edging closer and closer to what’s required for conventional real estate.

Klein believes that REO sellers have to make their homes comparable to others on the market – and that means upping foreclosure trash outs and property preservation services. His company has upped the ante – with very positive results.

“They’re doing white glove inspections on these homes, and I tell you what, it pays off,” Klein said. “Every cobweb is going to cost you $5,000. If the potential buyer comes in, they’re going to come up with every excuse to lower the price.”

And sometimes it’s not just what you see…but what you smell. Any real estate agent knows how a potential home buyer “noses out” a property. It’s what Klein calls the “making a house smell like fresh baked cookies” concept. “What we want to create is something that a young couple can visualize taking the property and building a future in the home.”

This upgrade of services obviously requires more from property preservation companies, already enjoying an incredible surge in demand due to the real estate crash and foreclosure crisis. While many search in vain for employment, property preservation remains the biggest foreclosure business opportunity for anyone searching for a new career direction.

Visit www.REOResQ.com for more information.

Trash Out Company REO RESQ Founder, Frank Patrick, Discusses Safeguard’s Good Neighbor Door Hanger Initiative

admin — Wed, 14 Jul 2010 16:02:51 +0000

Frank Patrick, founder of foreclosure trash out and field service franchise REO RESQ™, writes how door hangers are helping his property preservation company maintain foreclosed homes.

Scottsdale, Ariz. – July 14, 2010 – In a recent article by Frank Patrick, one of the country’s top property preservation and trash out experts, Frank discusses how a new initiative by national property management company, Safeguard, is helping property preservation contractors combat neighborhood blight caused by foreclosures.

In the article titled “Foreclosure Trash Outs: Just Like A Good Neighbor,” Frank describes how neighborhoods that have experienced multiple foreclosures have suffered declines in property values and quality of living, due to these vacant homes falling into disrepair and becoming unsightly and unsafe. “Even homes that have been secured by property preservation companies can still end up being vandalized or become targets for arson or copper pipe theft,” remarked Frank. Frank explains how Safeguard is providing neighbors of vacant homes with contact information via door hangers, where they can easily report illegal activity or maintenance problems.

“The correlation between vacant properties and criminal activity has been well documented in communities nationwide,” says Safeguard. “This ripple effect drastically reduces the servicer’s collateral in their assets and wreaks havoc on the communities where the properties exist.”

“By being a good neighbor, property preservation specialists can both help communities stay safe during this continuing foreclosure crisis, as well as and increase their business. That’s a big win-win for all concerned,” Frank Patrick wrote.

“This, of course, also means a great deal more opportunity for companies that perform foreclosure trash outs – as property preservation is increasingly seen as the biggest foreclosure business opportunity. Profits for these companies, both big and small, continue to increase nationwide,” continued Frank.

In addition to being the founder of the property preservation franchise REO RESQ™, Frank Patrick is also the founder of American Society of REO Specialists™ (ASREOS). Patrick was recently featured in Newsweek, The Wall Street Journal and USA Today for his expertise and success in the REO Sales and REO agent training industry.

Read the entire article at http://www.reoresq.com/articles/foreclosure-trash-outs-just-like-a-good-neighbor.php

For more information on Frank Patrick and REO RESQ™ please visit http://www.REORESQ.com

About REO RESQ™:

Inspect – occupancy and property condition inspections
Secure – lock changes, lock box installation, evictions, board ups
Preserve – winterization, emergency repairs, pool service
Prepare – trash & debris removal, janitorial service, landscaping
Repair – repair of minor health and safety issues, code violations
Maintain – ongoing lawn care, maid service and pool maintenance

REO RESQ™ guarantees quality work delivered on your schedule to get your REO listings “ready for market” – and looking their best for a quick sale. All our franchisees are fully licensed and properly insured – and trained by REO field service experts to provide the level of property preservation service that you desire. We strive to limit your out-of-pocket expenses while providing world-class service.

REO RESQ™ understands your business – because it’s our business.

For more information please visit http://www.REORESQ.com

About Frank Patrick:

For more information please visit http://www.ASREOS.com and http://www.REORESQ.com

Foreclosure Trash Outs: The Money-Making Opportunity Gets Bigger

admin — Tue, 13 Jul 2010 21:38:02 +0000

Property Preservation Companies Continue to Boom

With a high percentage of joblessness persisting, with fears of a double-dip recession continuing, one business sector continues to thrive – property preservation.

The property preservation business, for those who don’t know, involves performing repairs and maintenance on vacant homes, which have usually been foreclosed upon by the bank or financial institution that holds the mortgage. These homes frequently have overgrown lawns, broken windows, and other cosmetic damage – they are also often victims of vandalism and break-ins, since the properties are generally unsecured.

The property preservation company will prepare the home, which has usually become an REO (Real Estate Owned) property, to be put back on the market so the REO seller can recoup some of their costs.

Because foreclosures still reaching record highs, property perseveration companies find themselves more in demand than ever. This trend will continue, as more mortgages are in delinquency than ever before during this unprecedented real estate crash – and the huge foreclosure backlog is finally finding its way to market.

The plain fact is that these millions of vacant properties – all across the country, spanning every socio-economic category – will all require property preservation services. This involves securing the property, performing what’s called a “foreclosure trash out” (removing all the debris and garbage left behind in the home), and doing all necessary repairs and yard work necessary. In cold weather areas, winterization is another necessary service, which involves, among other things, draining all water from the plumbing to prevent damage from freezing.

Housing experts are expecting to see a massive amount of foreclosures happen in the final six months of 2010 – a trend expected to continue for the next two years at least. And, as property preservation is the biggest foreclosure business opportunity available, many people are anxious to start a property preservation company of their own, either to start a new career or for extra income.

The reason? It’s a fairly easy business to get started in and it can be incredibly lucrative, grossing some property preservation companies tens of thousands of dollars a month. Start-up costs are small (a truck and some basic tools) and experience isn’t necessary. What is necessary is expert training to enable the beginner to know what is expected from them by the company that owns the foreclosure.

Most often, these are huge financial institutions that expect a property preservation company to understand what they need to do without any hand-holding. Also, the foreclosure trash out firm needs to know the ins and outs of such critical matters as insurance, documentation and licensing.

While the opportunity is huge, this training is necessary to ensure success in this incredibly in-demand field.

Visit www.REOResQ.com for more information.