The Easy Way Field Inspectors Make Money From Foreclosures

Foreclosure Profits

The recession has hit everyone hard. People are cutting back, many are losing their jobs and in particular, families are losing their homes. While many businesses are hurting, it’s actually a busy and profitable time for independent field inspectors. Foreclosures can actually mean easy money for field inspectors. Good money too. Here’s how:

A field inspector’s job is fairly easy. They often are expected to drive to a site, such as a home or construction site, fill out a couple basic forms, take a measurement or two and snap a few photos. That’s about it. That’s why field inspections have been called “drive-by profits.” They take little time, and can make you good money.

As an independent field inspector, you can work as little or as much as you’d like. You’re the boss. You’re in charge. You can make your daily schedule work with your other jobs, commitments or whatever else you have going on. You simply have total control. Plus, there are no expensive classes or certifications required, and the supplies you need shouldn’t cost you too much. You might already have all them. In addition to a reliable car to get you to and from jobs, you’ll need a cell phone (one that you can use to check your email is ideal), computer with access to the internet, tape measure, clipboard and a basic digital camera. A simple point-and-shoot will do. You just need something that can take clear, bright photos.

So how can you make money from foreclosures? The recent housing crisis has made for a lot of business in the area of delinquency inspections at homes where the homeowners are behind in their payments. As a field inspector, you might be asked to visit a home where the homeowner is still there. You simply ask a couple questions, such as when they plan to make a payment, and then take down any current contact information. If the delinquent homeowner isn’t home, you’ll often just  leave a door hanger behind that asks them to contact the lender as soon as possible. Simple drive-by inspections pay around $10 a visit, which doesn’t sound like much, but you can actually do several in an hour. That’s just one of the many perks of being an independent field inspector—the jobs often take so little time, you can do multiple jobs in an hour.

In addition to these tasks, you might be asked to survey the general condition of the property. This could include taking a few photos and measurements. Some field inspectors will even do property preservation, such as boarding up broken windows, cutting the grass, changing locks and draining a backyard pool. These more-involved delinquency inspections pay from $40 to $100 per inspection.

There’s another way to make good money with delinquent homes. Real estate investors are always looking for “troubled” properties. If you can let them know about such a property, they often pay you a finder’s fee.

The recession is hurting everyone, but it can actually mean a lot of business for independent field inspectors. There simply are a lot of field inspector jobs out there for people interested in delinquency inspections. The jobs take very little time, it’s possible to do several in an hour and you can make nice money doing them. To learn more about field inspector jobs, read Drive By Profits.