How Much Are You Making Cutting Grass At Foreclosure Properties?
I talked to a property preservation specialist earning $7.50 for grass cuts ordered by a Mortgage Order Mill (MOM). He was a roofer and he performed some grass cuts to make some extra money. Was he really making any money on the grass cuts at $7.50 a cut? You decide! He could not say NO and he was hurting himself and also hurting YOU.
Mortgage Order Mill (MOM) outrageous and unaudited GREED is killing the mortgage segment of the industry.
The greed of the MOMs is killing the mortgage segment of the industry? Does HUD, VA, Fannie-Mae and Freddie-Mac know the actual fees paid to the property preservation specialist? No, they don’t and they don’t ask. Discounts are never discussed in the presence of officials from HUD, VA, Fannie-Mae and Freddie-Mac. That needs to change. The property preservation specialists need to grow a backbone. Report low fees to SOFI and we will report the fees to HUD, VA, Fannie-Mae and Freddie-Mac. Of course, I expect many of you to do nothing and that is your mistake.
Lawn & Landscape data shows that the average landscape owner salary was about $69,629. How does that compare with what you are earning cutting the grass on foreclosure properties? How many $7.50 grass cuts are needed to show a profit of $69,629 for the year?
PayScale and other salary estimators offer average annual earnings figures for small business owners ranging from $61,919 to $111,000. The national average salary of a small business owner with 10 to 19 years of experience (the average length of a landscape business is 15 years) is $70,372, PayScale reports.
According to Lawn & Landscape data, landscape business owners are on the low end of this range at $57,573, according to our February survey. In last year’s surveys, Lawn & Landscape recorded the average owner salary reaching $69,629, still slightly below national U.S. averages when taking all industries into account.
A majority of contractors struggle with paying themselves a fair wage. Nearly half of contractors responding to a Lawn & Landscape survey said they thought they’d be making more money running their own landscape businesses when they started out. Only 21 percent say they pay themselves a fair market value salary based on industry benchmarks. Another 23 percent say they draw less than the fair market value salary and need to find a way to raise their salary to a better level. When asked how they figure their salaries, the majority of owners – 30 percent – said: “It’s trial and error. I take whatever is left after expenses and bills are paid, so I’m not sure what I’m going to make each year.”