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  1. #1
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    MindTrap's new Job

    I have a new job, yet I haven't quit my old one.

    The new job is cleaning out repossessed homes. When a person gets kicked out by the bank, they leave a bunch of junk. I bid on it, and dispose of it. I have only done a handful so far, but it is proving interesting and exhausting.
    The biggest change for me is having to document everything with photo's... and doing it "just right". Another big change is the guy I'm working with. I have worked for my Dad for the past 10 years, so now I'm working with an older guy who is going to retire, and he wants everything done EXACTLY as he says... even if what he says changes.

    The hardest part is bidding it correctly. It seems that everything is an exception to the rule. So if we say, you charge X for Y.. you will never find Y. You will find Y1, Y2, Y3. The guy teaching me has been doing it so long he has it down to a science. Then, on top of it all, there is the "work the system" aspect of it. At this point, I'm not even sure what the system is.


    There is a reason for taking this on. The first is the need for work in a slowing economy. If the banks aren't lending, there isn't a whole lot to do in the construction industry. On the other hand, I really wanted access to the Repo market. With this job, I can evaluate the property before anyone else. Even at this point all the "best" deals are taken by banking insiders, BUT, not all the "good" deals are taken. I'm just waiting for the right one and right time.


    Anyway, that is my new job...
    The best part is that I have to start an official business. So, I will also be doing home prepare and handyman work with my ultimate eye on property management.
    All fit together because it is all basically what I was doing with my own properties. The repo work is just an extension of what I go through every time I have a tenant leave .. .and leave all their crap. The repair work is basically what I have been doing for the past 10 years in construction anyway.

    I guess, if "The Donald" gets elected president, then that will be the new limit to what this line of work could end up as
    I apologize to anyone waiting on a response from me. I am experiencing a time warp, suddenly their are not enough hours in a day. As soon as I find a replacement part to my flux capacitor regulator, time should resume it's normal flow.

  2. #2
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    Re: MindTrap's new Job

    Quote Originally Posted by MindTrap028 View Post
    I have a new job, yet I haven't quit my old one.

    The new job is cleaning out repossessed homes. When a person gets kicked out by the bank, they leave a bunch of junk. I bid on it, and dispose of it. I have only done a handful so far, but it is proving interesting and exhausting.
    The biggest change for me is having to document everything with photo's... and doing it "just right". Another big change is the guy I'm working with. I have worked for my Dad for the past 10 years, so now I'm working with an older guy who is going to retire, and he wants everything done EXACTLY as he says... even if what he says changes.

    The hardest part is bidding it correctly. It seems that everything is an exception to the rule. So if we say, you charge X for Y.. you will never find Y. You will find Y1, Y2, Y3. The guy teaching me has been doing it so long he has it down to a science. Then, on top of it all, there is the "work the system" aspect of it. At this point, I'm not even sure what the system is.


    There is a reason for taking this on. The first is the need for work in a slowing economy. If the banks aren't lending, there isn't a whole lot to do in the construction industry. On the other hand, I really wanted access to the Repo market. With this job, I can evaluate the property before anyone else. Even at this point all the "best" deals are taken by banking insiders, BUT, not all the "good" deals are taken. I'm just waiting for the right one and right time.


    Anyway, that is my new job...
    The best part is that I have to start an official business. So, I will also be doing home prepare and handyman work with my ultimate eye on property management.
    All fit together because it is all basically what I was doing with my own properties. The repo work is just an extension of what I go through every time I have a tenant leave .. .and leave all their crap. The repair work is basically what I have been doing for the past 10 years in construction anyway.

    I guess, if "The Donald" gets elected president, then that will be the new limit to what this line of work could end up as
    I'd much rather be an owner than a manager. Although I know some guys who do both.

    The price evaluation just comes with experience in the business. "There is no royal road to geometry" &c.

    Deciding which properties to own isn't exactly easy. My strategy is to be the low-cost supplier, so I try to look for duplexes or single family dwellings that are priced low relative to the rents they can be expected to pull in. Usually putting $5k or $10k into fixing up a below-average property can yield big returns on investment (as with cars, there's a somewhat unreasonable premium on looking good; people tend to undervalue houses that just need a little fixing up). You have to factor in the maintenance costs as well--new roof every 20 years, new siding, foundation, plumbing, etc. These aren't "fixing up" costs.

    Just my two cents.
    If I am capable of grasping God objectively, I do not believe, but precisely because I cannot do this I must believe. - Soren Kierkegaard
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    HOLY CRAP MY BLOG IS AWESOME

  3. #3
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    Re: MindTrap's new Job

    I'm actually pretty proud of my ability to accurately determining the value of a house or property..
    My problem is with figuring out how much trash is in a house, and how much I should charge for it. I have to charge by the sq yard, and my eye is just not trained to see things that way yet. I'm getting there I hope.
    I apologize to anyone waiting on a response from me. I am experiencing a time warp, suddenly their are not enough hours in a day. As soon as I find a replacement part to my flux capacitor regulator, time should resume it's normal flow.

  4. #4
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    Re: MindTrap's new Job

    Seems like you are going to be very busy MT. Good luck with that.
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  5. #5
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    Re: MindTrap's new Job

    Yes, I don't think I have ever been this busy in a long while. Which is great, because just a few months ago I was practically out of work.
    I don't think I have ever been this stressed before either. I have dealt with stress so well in the past that I am having to learn how to handle it when it actually starts to get to me.
    That was actually a new sensation for me. I think part of it was the fact that things are changing, and I really don't do great with vast and quick change.(which drives my wife nuts)
    I apologize to anyone waiting on a response from me. I am experiencing a time warp, suddenly their are not enough hours in a day. As soon as I find a replacement part to my flux capacitor regulator, time should resume it's normal flow.

  6. #6
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    Re: MindTrap's new Job

    Stress can have a very bad influence on your health, so it is best to try and eliminate it as soon as it starts. I think the biggest stress of all is to care for your children and be able to provide to them. I will work my fingers off to make sure they enjoy a happy life. I will be fine with just dry bread and rice water, if that is all I can afford.
    >>]Aspoestertjie[<<

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  7. #7
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    Re: MindTrap's new Job

    Quote Originally Posted by MindTrap028 View Post
    Yes, I don't think I have ever been this busy in a long while. Which is great, because just a few months ago I was practically out of work.
    I don't think I have ever been this stressed before either. I have dealt with stress so well in the past that I am having to learn how to handle it when it actually starts to get to me.
    That was actually a new sensation for me. I think part of it was the fact that things are changing, and I really don't do great with vast and quick change.(which drives my wife nuts)
    Goos fraba brother. Goos fraba.

  8. #8
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    Re: MindTrap's new Job

    Sweet deal, dude. Good luck!
    There is no path. Beyond the scope of light - beyond the reach of dark - what could possibly await us?
    And yet we seek it insatiably. Such is our fate.

 

 

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