Posted by Jules on 9/18/07 5:48pm
Msg #211823

Property Inspections

I've done a couple of property inspections on foreclosure properties. What is the going rate? I don't want to charge too much or sell myself too cheaply. Thanks.

Reply by Todd/OH on 9/18/07 5:56pm
Msg #211827

I would ask the company what they pay. Determine if it's reasonable for your time/hassle.

Reply by Larry/Ca on 9/18/07 6:34pm
Msg #211833

The ones i've done involved driving by and taking 2 photos and answering questions on a one page work order. When first approached I didn't know if I wanted to do this but agreed to give it try. The pay is $15 per inspection. At 10-20 inspections per assignment, for me, it is worth my while. It only takes 15 minutes to drive from one side of my town to the other so there is not a lot of drive time and I don't do these outside of my town.

Reply by Cathleen Atwood on 9/18/07 7:10pm
Msg #211841

What does a property inspection entail?

Reply by Larry/Ca on 9/18/07 7:38pm
Msg #211850

There must be ...

ones different than the ones I do but mine are either insurance inspections or inspections on properties in default. The insurance inspections involve taking 6-8 digital pictures of the progress or completed repairs on an insurance claim, the homeowners sign a document saying the work is satisfactory and you e-mail the pictures back. This takes maby ten-fifteen minutes and the pay is $50 for these. On the default inspections, you drive by, take 2 digital pictures and complete a one page questionnaire about the property. This takes no more than five minutes and pays $15.

Reply by Margaret_FL on 9/18/07 7:29pm
Msg #211847

Foreclosure inspections are typically not drive-bys. The ones I do require interior photos also. I have a master key and I take a photo of the front, back, house number and any exterior problems ( for example, does lawn need mowed, tree limbs overhanging house, roof damage, etc. Then I enter the home a take pictures of the the repair items. Pre-foreclosures can be drive bys because the bank wants to know if they have move out yet and notes to the condition of the property, exterior only. If it looks like they are out, you can get out and look in the windows. I get $75 for the foreclosures and I do all the homes by zip codes. I plan my day according to zip codes. Mine are not all local, so I usually have several in the same city. It is worth it to me as I can do approximately 10 a day. I have 10 days from the time the inspection is assigned. I have been doing inspections and signings since 2001 and I have always made more money with the inspections. I do a multitude of things because I like to be diversified and stay busy. I am not sitting at home waiting for the phone to ring, I could not stand that.

Reply by Erin Mossa on 9/18/07 8:50pm
Msg #211860

Have you guys gone through any formal training? I have been looking into this.

Reply by Margaret_FL on 9/18/07 9:42pm
Msg #211871

Yes, I have annual training from HUD. I have a training session this Friday in Orlando, FL You can check with HUD in your area to find out what contractor is doing foreclosures.

Reply by Becca_FL on 9/18/07 10:18pm
Msg #211883

For the basic inspections, you don't need formal training. The basic stuff doesn't pay much, but all you really need is a digital camera, wheels and a brain that functions.

I compiled a list of over 200 companies that hire for this type of work and have been spending time signing up with them for a week now. I offer the list for a minimum fee if you don't want to do the leg work yourself. My entire list is hyper linked so all you have to do is click the link to sign up as a field inspector for all of the 200+ companies on the list. You won't get rich doing this work, but it's a good secondary source of income.

Reply by Colleen Drozd on 9/18/07 11:08pm
Msg #211887

How would I sign up to do this work and I have a digital camera and I do not mind at all. Please let me know how to sign up with these companies.

Reply by Kathy/ID on 9/19/07 9:35am
Msg #211915

I have thought of doing this but have not researched it much at all. Do you need to have any insurance or anything for the basic inspections? So no licence is involved?

Becca, can you e-mail me the price you are selling your list for?
[e-mail address]

Thank you.

Reply by MelissaCT on 9/19/07 9:54am
Msg #211920

Re: Check out

www.sofi-usa.com for information on this type of work. As mentioned, it really doesn't pay much and likely wouldn't be a steady source of income or enough to live on. The key to these is to keep your travel area small enough to have a profit. A typical drive-by usually takes 3-5 minutes on site, but when you factor in drive time & distance, you may be working for nothing if you go out too far for too little.

Reply by snoopdogMs on 9/19/07 10:12am
Msg #211925

Re: Check out

I registered with one company for field inspections, but short of completing their training I bowed out. There was no way that this could be a 5 minute job for $15 dollars if you consider travel time, time at the site, and paper work to fill out and go home and send the pics and paper work. Even if you have some in the same zip code, I just could not justify the time for the money. Maybe I am missing something here. I believe this particular company required the inspector for the exterior inspection to take a wheel and measure the home. 5 minutes?
I guess there are different levels of inspection.

Reply by Margaret_FL on 9/19/07 11:44am
Msg #211949

Re: Check out

You are right about those inspections, they are not worth it. NO they lie to you. Some also what a digital sketch of the property. I was doing mobile home appraisals that were in mobile home parks not on private land. We could not use a measuring wheel or a digital measuring device. We had to measure by hand with a 100 foot measuring tape. Some inspections were exterior only, no appointment and some where interior/exterior where I needed to make an appointment. Some homes had not been delivered yet and I went to the mobile home sales office. I got paid $150 for interior/exterior and .50 cents a mile.
I got $75 plus .50 a mile for exterior only. I was doing 3-4 a week until March of this year. These appraisals were for purchases or refinancing of their mobile homes located in mobile home parks. Well the bottom fell out of this gig too. It is almost impossible to get a mobile home refinanced or a purchase financed that is not on a permanent foundation and not on private land. The company that hired me went out of business.

Reply by Margaret_FL on 9/19/07 11:34am
Msg #211947

Re: Check out

Join the Yahoo group - fieldrepsneeded and jobs are posted every day looking for field rep to do inspections. Insurance inspections can pay up to $50 but most pay 10-15. Some companies require insurance and some do not. If you start to sign up and they ask for insurance, do not sign up. There are plenty of companies to work for that do not require insurance.