Foreclosure Cleaning Articles Foreclosure Cleanup Blog (JOBS!) Foreclosure Cleanup Newsletter Archive FREE Newsletter Signup Shop for Books & Forms

 
 

Return to Foreclosure Cleaning Newsletter Archive TABLE OF CONTENTS.

How to Earn More Money with Your Foreclosure Cleanup Business via Failed Banks 

 
 
Hi Foreclosure Cleanup Business Owners & Industry Colleagues, 
(Reminder: Peek at the "Golden Nuggets" below ... it contains valuable extra info for Premium Newsletter Subscribers like you.)
 
Banks are Dropping Like Flies!
 
nullWith more and more banks closing each day across the U.S., failed banks can be a huge source of new contracts for smaller foreclosure cleanup businesses. (I've discussed this before, and my goodness, it's a mantra worth repeating because many smaller businesses simply are not taking advantage of this gold mine.
 
Read on and learn how to reach out to these companies so you can grow your business ... )
 
FDIC Tip
 
In my meeting with an FDIC executive some time back, I was urged to make direct contact with failed banks for foreclosure cleanup work in my geographic area. I was modifying one of my investment property loans ... the mortgage company had been taken over by the FDIC (a noted Atlanta bank).
 
My personality is simply to ask questions, so we started talking shop as I was awaiting the new loan papers... The exec indicated many of the "acquiring institutions" (banks that ultimately takeover a failed bank's assets) are simply overwhelmed. The FDIC is the receiver of these failed banks, but they are ultimately acquired by other banks because everyday banking business must continue for a failed bank's customers.
 
Larger Property Preservation Companies Simply Can't Handle the Volume
 
He said often the FDIC and these acquiring institutions use larger property preservation companies to handle maintenance of the failed bank's real estate assets. But these big property preservation companies are, in many cases, simply taking too long to handle all the requests for foreclosure cleanup work because they are overwhelmed with the number of properties.
 
Your Smaller Company is Needed as More and More Banks Fail Across the U.S.

These larger companies are increasingly behind on inspections, appraisals, yard maintenance, cleanup and the like.   That's good news for the smaller foreclosure cleanup company that has its ducks in a row: proper registration, license and insurance.
 
Where to Find Failed Banks & the Companies Who Handle their Foreclosures & Homes in Trouble
 
To find failed banks throughout the U.S. (with complete contact info for the acquiring banks), visit this website, which lists failed banks and the details of the failure:
http://www.fdic.gov/bank/individual/failed/banklist.html.
 
Locate the ACQUIRING INSTITUTION of the failed bank.  Make contact with them and ask them if you can send them some info about your company. Tell them what you do and how you can begin helping the acquiring bank immediately with their foreclosure cleanup needs. In some instances you will not readily see the acquiring bank's information, but poke around the website a little and find what you need.
 
Build Your Roster of Failed Banks and Grow Your Business
 
Start building a roster of failed banks and their acquiring institutions in not just your geographic area, but other areas of the country as well. Many failed banks have tons of foreclosure inventory across the U.S. Stay in touch with them to grow your business (win "mind share," remember). Visit the failed bank's website above often to find newly closed failed banks and send them your company info.   

Continued success with your foreclosure cleanup business!
Cassandra

Foreclosure Cleanup, LLC
Foreclosure Cleanup Products to Grow Your Business

Cassandra Black
 is the Author of Property Preservation & Real Estate Contracting & Subcontracting  Directory, How to Start a Foreclosure Cleanup Business: FREE Articles & Advice Blog, How to Start a Foreclosure Cleanup Business, How to Register Your Business with HUD & Other Government Contracting Agencies: One-Stop Resource to Locate Government Contracts, Pricing Guide for Foreclosure Cleaning & Real-Estate Service Businesses, How to Market Your Foreclosure Cleanup Business, the Foreclosure Cleanup Business Combo Estimate & Contract Form, (and other cleanup business forms) and the Housing Authority Master Contacts List with Bonus Search Tool. Cassandra is also the CEO of Foreclosure Cleanup, LLC, Real Estate Cleanup, Atlanta, GA, and an Investor & Landlord (TheCassandraGroup RE ).

 
Failed Banks Listed by Month
 
Visit this link to see which banks closed in which month. (Remember, the acquiring institutions of failed banks can be fertile ground for foreclosure cleanup businesses.)
 
 
New GOLDEN NUGGETS
 
 Exclusively for Premium Newsletter Subscribers
Get on the FDIC's "Failed Banks" Mailing List
 
To get on the FDIC's mailing list so you can be notified immediately when a bank closes, visit this link and follow the free subscription instructions: 
 
 
 
Failed Financial Institution Contact Search
 
Visit this link to search for a failed bank by name:
http://www2.fdic.gov/drrip/cs/index.asp.
 
 
Previous Golden Nuggets
Get Your EIN Today: 

http://www.irs.gov/businesses/small/article/0,,id=97860,00.html.  

Tip: To locate your County Clerk's Office, GOOGLE phrases like "Your County Name" and County Clerk; or "Your City Name" and "County Clerk".

Business Rules for Your State:  To find out rules, regulations, business registration and filing requirements in your state for doing business, visit this government link and find your state:


D-U-N-S Number Tip: Don't "pay" for a D-U-N-S Number! Some companies charge $149 and up when they box it with other services. Getting your number is free, free, free if you are signing up as a vendor on government contract registration websites.
 
Get FREE Business Cards:


Free Business Cards

_____

Products to Grow Your Business
 
 
 
(Updated: Over 1,500 Industry Contacts!)
 
 
 
 
 
 

 

Blogs of Interest
 
 
Challenge: 
Formulate a quick phone script to use when contacting acquiring institutions of failed banks today.
 
Products to Grow Your Biz
 
 
 
 
 
 
 
 

How to Market Your Foreclosure Cleanup Business: A Step-by-Step, Shoestring Marketing Guide for Foreclosure Cleaning Business Owners

How to Start a Foreclosure Cleanup Business eBook

Unsubscribe
Interesting Blogs
 
 
 
Challenge: 

Make contact with five acquiring institutions of failed banks over next 48 hours. Leave a voicemail if you don't get anyone -- leave your company name, website and phone number.

 
    --OVER INDUSTRY 1,500 CONTACTS!
    --List of Property Preservation Companies
    --List of Loss Mitigation Companies
    --List of BPO Companies (Separate BONUS eBook Inclusion)
    --List of FHA Appraisers

BONUS **FREE** INCLUSIONS w/Purchase:
    1. HUD's Updated M&M Contractors Contact List
    2. The Little Book of BPO Companies (FREE BONUS eBook)
    3. Guide to HUD Contracting


# # #

Newsletter by Cassandra Black, Author of How to Start a Foreclosure Cleanup Business and several foreclosure cleanup industry Guides, Reports and Forms. Sign up as a Premium Newsletter Subscriber. You will periodically receive foreclosure clean-up job leads and consultative advice to help you grow your foreclosure cleanup business!

For more industry information, visit the foreclosure cleanup blog and the foreclosure cleaning newsletter archive.

Return to Foreclosure Cleaning Newsletter Archive TABLE OF CONTENTS.

Foreclosure Cleaning Industry Books & Forms

If you need books, reports and forms for your business, visit the Foreclosure Cleaning Bookstore for all of your foreclosure cleanup business information products today. Much success to you in starting and growing your business!

 
 

Copyright 2010-2030, Foreclosure Cleanup, LLC

Page 

copy protected against web site content infringement by Copyscape
We aggressively protect our intellectual property rights.