QUESTION: How much money can I make working as a property preservation contractor?
ANSWER: Your success as a property preservation contractor is directly related to your dedication to continually educating yourself about REO construction issues as well as how to properly manage cash flow. From our own experience, the sky is truly the limit. Our business has grown at a rate of 100% each year since we first started working in this specialty over 5 years ago. This is definitely a great opportunity to ride the wave of a current trend. But you must understand that property preservation is a business and just like any other business, there are many different working parts involved, all of which you are going to have to learn and master. So before you get too excited, you must understand that even though there is a ton of work available in this niche construction business, it takes hard work and the willingness to educate yourself on a continuous basis. And don’t forget the statistics about how more than 90% of new construction businesses go out of business within the first 5 years.