There are some definite costs to starting a foreclosure cleanup business. You’re not one to start with no money, and don’t believe anyone who tells you otherwise. But, the costs can be mitigated. The following are some concrete suggestions on how to start a foreclosure cleanup business “on the cheap.”

3 Concrete Tips on How to Clean Up Foreclosures Affordably

Rental equipment: While having your own equipment is ideal when you own a foreclosure cleaning business, you can rent almost anything you need until you can afford it in full.

For example, a trailer and a dumpster. Most jobs will require them, as you’ll need to clean up and remove trash and debris from a property. But this equipment can be rented very reasonably.

Team Tip: Familiarize Yourself with Costs Before You Start Trading

To begin to get an idea of ​​the costs of things you will rent frequently (for example, ladders, gardening equipment (in warm seasons), tools, etc.), visit your local Home Depot or Lowe’s. As these are built-in costs for your business, you should have an idea of ​​how much it will cost to rent these things for your foreclosure cleanup business until you can afford them.

Subcontract: Another way to start a foreclosure cleanup business on the cheap is to outsource as much as you can. Cleaning, you can handle yourself. But, if there are jobs you’re not equipped for because you don’t know how to do it or don’t have the right tools, outsource, for example, painting, plumbing, electrical, window repair, etc.

Just include the cost of hiring contractors in your estimate.

Online Market: One of the biggest costs most startups face is marketing. Fortunately, a foreclosure cleanup business is one where marketing can be done on the cheap. Because? Because your core customer base (eg real estate agents, bankers and investors) are all online.

And they are easy to find. So use email marketing. It’s free. Add a couple of vehicle signs to this (all foreclosure cleanup businesses should have vehicle signs) and this is all the marketing you’ll need to do to get the business flowing initially.

While there are legitimate startup costs that you can’t get around when starting a foreclosure cleanup business (eg insurance, vehicle, phone), everything else can be done “on the cheap” until you start building business.

Learn more about what you need to know to start a successful foreclosure cleanup business.