Cape companies "cleaning up" on foreclosures
By
Cristin Severance, WINK News
Story Created:
Oct 20, 2008 at 6:55 PM EDT
Story Updated:
Oct 20, 2008 at 7:07 PM EDT
CAPE CORAL, Fla. - Ugly on the outside and disgusting on the inside, there's nothing pretty about foreclosed homes. There may be one upside to foreclosures in this down economy. Some local companies are making money from other people's messes.
When the construction boom started slowing down, owner of Cougar Demolition, Al Miller got smart and got into the business of cleaning up foreclosures. He owns and operates A & J residential services in Cape Coral. "You have to look at other ways to generate money and keep guys busy. With all the foreclosures it made sense to start a company doing this service," he says.
Trash out companies are hired by banks or a Realtor and make their money cleaning out foreclosures.
"Sometimes you might have two or three dumpsters coming out," says Miller.
Miller is "cleaning up" and his long time employees are able to bring home a paycheck but he isn't the only game in town.
Holly and Randy Miller just started Trash Out Specialists LLC. "My husband has a lot of great ideas that I veto, but I thought this was one to look into," says Holly Miller. They haven't cleaned out a home yet but they are getting paid to contact homeowners, do inspections, reports, and take photos.
Both owners say they won't stay in the business forever but they don't see things slowing down anytime soon.
The competitors also agree it may seem like an easy idea but licensing, insurance, workers compensation, and forming a relationship with banks and a real estate company takes time.