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Field InspectionsMake money performing Real Estate Field inspections
- Foreclosure Inspection
- Walk through inspections
- Drive by inspections
After researching foreclosure inspection methods, we found out a lot about the whole field inspection industry.
Here is how it worked in the past:
There are several hundred regional and national companies across the country that subcontract most of the mini-inspection work called field inspections to smaller companies and individuals. These companies make money by getting big contracts from mostly banks and insurers to provide all sorts of in-person inspection of collateral. There are monthly drive-by's of property and assets, documentation of occupancy, delinquency inspections where you make contact with borrowers, residential and commercial property condition inspections, insurance loss, inventory and equipment, and many more. Except for the commercial inspections which pay more, most jobs only pay $20-$50, and the inspectors have to absorb all the costs of time and travel, so the companies that subcontract the jobs get as many inspectors to sign-up with them as possible, then they present the same jobs to everyone in a geographic area so that worker competition causes all the jobs to get taken, even if you have to drive 40 minutes and go to a bad neighborhood.
But, it has all changed with the Internet, you can make the profit, instead of the big companies, you can be making a good income.
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