Anyone Heard of or Doing This?

whodunit · #1 05/09/11, 08:31 PM

I'm looking at trying to find ways to bring in some extra cash working around my primary and secondary jobs. Who isn't?

Anyway, I came across this company that is looking for people to do real estate inspections in my area. For instance, if a house is foreclosed on, they need someone local to do things as making sure no vandalism is occurring (and taking some photos), making sure the property isn't being squatted in, making sure the power or heat is till on to prevent damage, etc.

It appears I would be an independent contractor and they would send an assignment which included a price. I have the power to take it or refuse it. If I take it and perform the service, they direct deposit a check.

They sent me an application package and it appears basic. They included a W9 and a direct deposit form.

The agreement is pretty basic and I don't see anything that really concerns me.

They are not asking for any kins of sign-up fee or anything. They had a website that appears very professional and there were no hits on the name of the company on the BBB website.

My only real concern is that the direct deposit form has a clause that they can deduct anything they might accidentally pay me (but no more that that amount). I have seen this on other direct deposit forms, but it's just something I have recently noticed.

Anyway, what say you? Anyone do this kind of thing? Drawbacks? Positives?

I'm not looking to get rich and they are not promising that I will make anything which I think is a good sign.

poppy · #2 05/09/11, 09:44 PM

Just to be safe, I would open an account only for that purpose. I do know such companies exist to perform such functions. In our area, they send people a pretty good distance and it makes no sense to me. I was doing a pest inspection a couple years ago on a foreclosed small house with a very small yard and a guy was there mowing the yard. Got to talking to him and he came all the way from Mt. Vernon Illinois just to mow that yard that couldn't have taken over 10 minutes. That's 90 miles. He didn't say how much they paid him to do it. They also hire people to winterize the plumbing and such because all utilities are shut off.

copperkid3 · #3 05/09/11, 10:07 PM

Is this company national? Would there be positions in others states that other HT
members might be able to fill and supplement their incomes as well?

Sorry, I'm asking these questions, but while I'm sure that there are legitimate positions,
it seems that the companies seeking such personnel would be going through other agencies,
rather than via emailings. Be careful and let us know what you find out.

whodunit · #4 05/09/11, 10:14 PM

Thanks for the repsonse.

That's a good idea I hadn't thought of.

Chances are most of the activity will be where I work (60+ miles away from where I live), so I'll just combine trips and refuse anything where I am not going to earn a profit.

There was another clause about having to carry any insurance they might require for doing the work and list them as an "insured party".

DW worked at an insurance office and said she didn't think I would have to list them on my vehicle insurance since I am not actually using my vehicle to inspect a house. I could ride there on a bicycle.

Another company I checked actually required liability insurance and Workman's Comp, but seemed to indicate that it was speaking about actual companies doing the work as opposed to an individual.

I can't see this company requiring me to carry WC.

whodunit · #5 05/09/11, 10:19 PM

Quote:

Originally Posted by copperkid3

Is this company national? Would there be positions in others states that other HT
members might be able to fill and supplement their incomes as well?

Sorry, I'm asking these questions, but while I'm sure that there are legitimate positions,
it seems that the companies seeking such personnel would be going through other agencies,
rather than via emailings. Be careful and let us know what you find out.

Yes, it's a national company out of Florida. The ad indicates they are expanding into this area. It was on Craigslist, which makes me wary, but it had full details such as addresses, emails, contact names, website, etc. I went to the website and checked the name at BBB, but there have apparently been no reports on them.

A friend that was a real estate agent said these places are legit, but the only issue she has heard is that some require you to put electricity, utilities, etc., in your name.

She said they typically contact real estate brokers directly, but they brokers tend to negotiate the prices.

poppy · #6 05/09/11, 10:26 PM

Quote:

Originally Posted by whodunit

Thanks for the repsonse.

That's a good idea I hadn't thought of.

Chances are most of the activity will be where I work (60+ miles away from where I live), so I'll just combine trips and refuse anything where I am not going to earn a profit.

There was another clause about having to carry any insurance they might require for doing the work and list them as an "insured party".

DW worked at an insurance office and said she didn't think I would have to list them on my vehicle insurance since I am not actually using my vehicle to inspect a house. I could ride there on a bicycle.

Another company I checked actually required liability insurance and Workman's Comp, but seemed to indicate that it was speaking about actual companies doing the work as opposed to an individual.

I can't see this company requiring me to carry WC.

It isn't uncommon for a business or some individuals to require you to have insurance and WC before they will hire you. My brother ran into it all the time when he was trimming trees. Even though you are a private contractor, they are afraid of lawsuits.

whodunit · #7 05/09/11, 10:31 PM

I didn't think an individual could carry WC for himself.

OkieDavid · #8 05/10/11, 08:54 AM

Correct on the WC.... It is only required for employees working for you, NOT you working for yourself. Also- For those interested in this type work, make up some snazzy business cards and hand them out at your local Real Estate Offices, Banks and Mortgage companies. You CAN pick up some cash doing this work. Open separate account and have all deposits go into it and just transfer funds out of that account into your regular account as needed. Only keep enough funds in the business account to cover account fees (min deposits etc..). Several close friends of mine pick up decent money doing this type work.

whodunit · #9 06/06/11, 09:43 PM

UPDATE: All signed up with the company and ready to accept assignments...after I get back from being gone for almost a month!

As a precaution, I did open a new checking account and have just $5 in it.

Supposedly the company is expecting 20,000+ accounts nationwide. The area I will be servcing is somewhat rural, so who knows how many I'll end up with.

OkieDavid · #10 06/06/11, 09:57 PM

Wishing you the best of luck. Keep us posted

mnn2501 · #11 06/07/11, 08:30 AM

Quote:

Originally Posted by poppy

Just to be safe, I would open an account only for that purpose. .

Yes, 100% agree with this. Put $10 in a bank account to open it and use it only for this -- take the money out and move it to your regular bank account as soon as you get it.

Quote:

Originally Posted by whodunit

A friend that was a real estate agent said these places are legit, but the only issue she has heard is that some require you to put electricity, utilities, etc., in your name.

I would never do that -- that would cause way too much liability on y our part.

whodunit · #12 06/09/11, 10:37 PM

I agree- not putting anything in my name. I'd be willing to arrange the billing and such, though.

I haven't received any assignments yet, but my understanding is that I am under no obligation to take any. Of course, I assume if someone refuses numerous assignments, the company will likely stop sending assignments. It works both ways- I don't have to accept any and they don't have to assign any.

TedH71 · #13 06/09/11, 11:04 PM

I would be interested in something like this. Please send me info on email. Thank you.

Haven · #14 06/10/11, 09:02 AM

Quote:

Originally Posted by whodunit

A friend that was a real estate agent said these places are legit, but the only issue she has heard is that some require you to put electricity, utilities, etc., in your name.

I know someone who is a realtor working with a foreclosure and the bank required her to place all utilities in her name when she listed it. Don't know the details, but i thought that was odd.

Pouncer · #15 06/10/11, 09:52 AM

That's illegal here.....utilities are in the occupant's name or the property owner. Wow. I don't know a single realtor who has done that locally.

beowoulf90 · #16 06/10/11, 10:43 AM

Quote:

Originally Posted by whodunit

I agree- not putting anything in my name. I'd be willing to arrange the billing and such, though.

I haven't received any assignments yet, but my understanding is that I am under no obligation to take any. Of course, I assume if someone refuses numerous assignments, the company will likely stop sending assignments. It works both ways- I don't have to accept any and they don't have to assign any.

Also be aware that at the end of the year you will receive a 1099 (IIRC) for tax purposes.. You will have to pay any and all taxes on what you receive... So make sure you keep enough back to cover these taxes...