If you are managing a foreclosure (REO agents or asset managers), then you will almost certainly want to use a pro so skip to here.
If you buy investment grade homes, chances are you have bought one that is full of junk. And if you haven’t, eventually you will.
I have cleared out multiple cluttered investment properties, and have written this quick guide to give you ideas to clear out yours.
Here are the steps to take to get the property cleared out and ready for renovations or renters.
First, Quickly Assess the Problem
Take a look at how much stuff you are looking at. Sometimes with a investment property, the junk removal job can vary from some things left behind to a hoarding situation.
This will determine whether you tackle the problem yourself or hire a company.
Remember, time is money. Time you spend clearing out a property is time you will not spend finding the next property. Figure out what your time is worth, and stick to it.
1. Get a Roll Off Dumpster
Unless the amount of junk is enough you are going to do the removal by loading it into a truck or trailer, you will want to rent a roll off dumpster.
This is a large metal container that a company will drop off in the driveway (or parking spot) of the property. You fill it, they pick it up.
If you are going to be doing any kind of renovations, the roll off dumpster can be used for that too. You can even get in touch with your chosen contractor to coordinate and possibly split the cost and use it both for clean up and debris.
2. Find Help If Needed
If this is a large job, you are going to need some help. This is time to enlist the help of any contractors, friends, family or any partners you have in the investment.
For the biggest bang for your buck, you can often find day workers for cheaper than your contractor. Online classifieds can do the trick to find some.
3. Estate Sales & Giveaway
If you have inherited some things that may have some value, it is not the best use to just throw them into the dumpster. You are an investor, after all.
This abandoned property can be a way to offset the cost of having to do junk removal on a investment property.
Small things, collectibles, etc you may be able to keep off site in your own personal storage until you get a chance to sell them.
But if you have a large number of big items, an estate sale is a good option. If you are up for it, you can do some marketing for it and hold it yourself.
But if you do not want to deal with it, an even better option is to get an estate sale company to come in and hold the sale. Depending on how many things are in the home and the value of it will determine how much you make/fees.
You also might want to advertise afterwards for anyone to come and take what they want. This is especially useful for furniture. There are several sources to post free furniture for community members to come take.
4. Or….Hire A Junk Removal Company
Sometimes, it is best left up to the pros. A junk removal company has experience to help clear an investment property fast and efficient. They also will use their own large trucks so you won’t need a dumpster.
If speed is the name of the game, you do not have much time, or you need to get the place sold or rented out soon….call a junk removal company.
The large operations will get the home cleared and ready for the next steps fast.
Additionally, some companies will give you a discount if you have multiple properties to clear, such as if you are in charge of getting a foreclosure/REO ready for the market.
If you are clearing a property for sale, it pays off to have it empty, even if the condition is not perfect.
1-800-GOTJUNK is a highly rated national company that has extensive experience in the junk removal business, in all situations. They also work with REOs.
If you have an investment property that you are trying to get leased, or a property to flip you can either clear it out yourself or hire a professional.
If you are managing foreclosures and REOs, you are most likely going to want to find a large company that can clear out multiple properties in a timely manner and on short notice.
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