PROPERTY PRESERVATION READINESS ASSESSMENT REPORT
Ask yourself the questions below, and based on the answers you gave in your Property Preservation Mastery Readiness Assessment, you’ll know how well-positioned you are to launch your property preservation business, right now.
1) Do I Desire To Own A Business vs Being An Employee or Owning A Job?
- Please note that this is not another debate between the merits of being a business owner vs being an employee. One is not automatically better than the other. However, in order to launch a successful property preservation business, you will be REQUIRED to start and operate your own business
- There are a few different business models that apply to running a property preservation business. Please note that our program is highly geared toward those who desire to operate the business, and subcontract out the work tasks assigned to their company, not do the work themselves
- We do have some students who opt to start the business AND complete all the field work as well. This typically occurs between a husband / wife or some other partnership where one person agrees to handle the administrative side and the other completes the field work
If you have never launched a business before, our Property Preservation Mastery program provides the foundational tools to assist our students with launching a business themselves. We also include recommendations to CPAs for assistance with the process
2) Am I Willing And Able To Commit A Minimum of 15-20 Hours Part-Time And 25+ Hours Full-Time To Launching My Business?
- Property Preservation CAN be launched as an additional part-time income stream as long as the owner has 15-20 hours available per week.
- Prospective students who focus on building their business with a 15-20 hour per week commitment (part-time) should expect to generate $50K within the first 12-18 months. The net profit goal should be right around 50% under this scenario.
- It’s important to note, however, that those hours generally will most likely NOT be only on evenings and weekends. In other words, there is no scenario where you can 100% neglect your preservation business during the hours of 8am to 5pm Monday – Friday, and still be successful
- If you’re working full-time, your job should have a certain level of flexibility where you can quickly respond to a text or email and an occasional phone call
- Example: Your contractor arrives at the property and finds squatters there. They will need to call you for guidance on how to proceed
- Prospective students who desire to put full-time hours into their business will need AT LEAST 25+ hours per week. Again, our program is centered around a subcontracting model. If you desire to complete the work yourself, you’ll be looking at 50+ hours per week in the field
- Important: Business owners who are also completing the majority of the work should expect to max out between $80K to $100K per year. The reason is because work capacity is limited as a one person operation. WE DO NOT RECOMMEND THIS
- Prospective students who follow the format outlined in the course and fully subcontract the work assigned to their company should expect to generate $100K+ within the first 12-18 months
- The net profit goal should be 50% to 60% under this scenario
- The example above can be accomplished with ONE contract in ONE county
- For those who desire to hit multiple six-figures, we generally recommend expanding with one company first before obtaining new contracts
At no point do we advise quitting your job as a pre-emptive move to launch your property preservation business.
3) Am I Able To Pass A Criminal Background Check?
- The sole objective of our program is to guide students through the process of landing their first contract under their property preservation company, then scaling to multiple six-figures
- All official owners of the business will be required to complete a CRIMINAL background check
- Felonies are NOT allowed and will disqualify you from eligibility to obtain a contract
- Certain misdemeanors are acceptable but we don’t have the specifics on every situation
- If background checks are of concern, we recommend completing the background check with Aspen Grove Solutions, prior to enrollment
- If you are someone who has dealt with prior bankruptcies, tax issues or bad credit, please note that this will generally NOT affect your background check negatively, unless criminal charges have been filed
Some of our current students with background check issues opt to work with a business partner to establish the business. You may consider this option as a Plan B if you’re worried about passing the criminal background check.
4) Do I Have The Technical Ability To Operate A Business?
- While we don’t require our prospective students to be prior business owners, we DO require students to possess an adequate level of technical proficiency, because you need these same basic skills to run a property preservation business
- What does this mean?
- You should be proficient in:
- Web browsing
- Navigating online courses
- Uploading / downloading files from the Internet
- Using basic software programs such as Microsoft Excel, Microsoft Word and Microsoft PowerPoint and/or Google Docs
- Accessing Dropbox folders
- You should be proficient in:
- If any of the areas above are of major concern to you OR if this sounds like a foreign language, our recommendation is that you NOT register for our Property Preservation Mastery program
- If you don’t have the skills noted above, completing the course will be challenging, and we do NOT provide assistance with computer proficiency. More importantly, you’ll have issues operating your business, as many of the same skill sets are required in day to day operations
If you’re someone who truly desires to launch this type of business, but you lack the technical skill set, we highly recommend completing a few online courses on Google Docs as a bare minimum requirement, or hiring a Virtual Assistant, or someone else who has that technical proficiency. You can find a list of courses HERE.
5) Do I Have At Least $2K To Cover Hard Costs In Launching My Business?
- Property Preservation has lower start-up costs than many other real estate niches, because it requires no property purchases, and no licensing or certification of any kind, BUT it does require some investment. Above and beyond the cost of our Property Preservation Mastery online course, you will generally spend around $2K on start-up costs. These costs include:
- Insurance down payment
- Business formation
- Business foundational tools (i.e. website/address/phone etc)
- These fees are not paid to or collected by Real Estate Profit Lab. These are your hard costs to start your official business entity, and get the approvals and documentation in place to receive Property Preservation contracts
- This screenshot below is a textbook example from one of our recent students that breaks down the costs associated with starting up…
- If you don’t have the required start up capital, but still want to move forward, you may consider checking out our $21 ebook: “Baby Steps To Financial Freedom.” This ebook provides a short list of steps to complete if you want to take action while you’re saving money for start-up capital. It also includes a list of legitimate side hustles that many of our students have utilized to generate enough money to buy the PPM course, and or as start-up capital to launch their business, once in the course
6) What about payroll expenses? Will I need money upfront to pay subcontractors as well?
- We recommend paying subcontractors on a bi-weekly basis
- As you add contractors to your team, we recommend explaining the bi-weekly payment system AND mentioning that their first deposit should be expected in 2 to 3 weeks. We cover how to do this in detail in the Property Preservation Mastery online course
- Most of the companies that we recommend issue payments during a 3 week timeframe
- Also note that in the early stages of your contract, you will NOT be flooded with work assignments, and your payroll costs will not be substantial during this timeframe
HOW IS THE PROPERTY PRESERVATION MASTERY PROGRAM DIFFERENT?
There are thousands of real estate courses available in the marketplace, spanning every area of the industry. I’ll bet that you’ve likely “tried” a number of them, right?
Generally, these programs sell students on the promise of fast money with minimal time, effort and start-up capital required.
These programs generally promise success to ANYONE and to EVERYONE. In theory, there’s absolutely nothing wrong with that concept, and many people have considerable success under these options. However…
We are not that program.
We will be the first to tell you that our Property Preservation Mastery program is NOT a great fit for everyone.
Everyone will NOT be able to be successful in this industry. #FACTS
Our program is designed to give ambitious, real estate minded professionals a defined, step-by-step process to launch their property preservation business.
In theory, everyone can get into this industry, and launch their business.
But, in the real world, it requires a particularly ambitious mindset, high execution skills, ability to follow a proven blueprint, basic technology skills, and the required start-up capital.
If you’re someone who has watched tons of YouTube videos on property preservation, and you believe that you have a strong enough grasp to move forward on your own, there is a high probability that your assertion is INACCURATE.
How do we know?
Because we have many students who analyzed and watched videos with no success, and some who even tried to launch, and after encountering pitfall after pitfall going it alone, they finally join our program and land their first contract within weeks.
If you are unclear about what you need to do, and in what order you need to do it, or even consider it, to give yourself the best possible shot at launching your business and getting to contracts, your journey will be MUCH harder to navigate on your own.
It’s highly likely that you’ve never experienced a program where you have to go through so many steps, in order to even have the chance to consider and be considered for the opportunity to pay money and participate.
One of the reasons why we’re so specific in our customer framing and customer vetting, is because unlike most of the offers you’ll see on the internet, we simply don’t want to accept a dollar from anyone, unless we can GUARANTEE them that IF they follow our process, 100% of the time, they will get the result.
To do that, we have to be more rigorous on the front end with making sure that for each offer, the participants we accept are a 1:1 fit.
In the short run, it impacts how much money we make, but in the long run, we believe that the value and trust that people develop for what we do and how we do it is worth it.
YOUR NEXT STEPS
The Property Preservation Readiness Assessment results above should have made it clear whether or not the industry could be a fit for you, and whether or not you have the time and money necessary to move forward in the process if you choose to do so.
Ready to decide if today is the day to start your Property Preservation business? Our Property Property Preservation Industry Overview provides a deep dive snapshot into this recession-proof real estate niche, where you DON’T need a college degree, DON’T need a real estate license, DON’T need a general contractor’s license, and DON’T have to buy or sell anything to earn six figures.