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Hello,
I was hoping to get some feed back on a business idea I have.

I would like to offer contractor services to condo owners (to compliment my real estate sales and rental services).

Through heavy direct marketing (door to door, newsletter, discount coupons...) I become the condo project specialist..."The condo owner's best friend"

Offering handyman repairs, painting etc. services I can get my foot in the door and build a long term relationship with the condo owner who will eventually want to sell or rent his condo.

That's where I need some feed back.

What kind of profitability is there in handyman services (fixing leaky faucet, replacing light fixtures...)?

I think the bread and butter would be painting services but complete renovations maybe the ticket...(I could offer buyer/seller programs which include renovations...)

So, based on your experience what do you think would be the best line of services to offer?

Do you bill by the hour or by the job for handyman services?

Are there certain types of jobs that are good money makers and others that should be avoided (focusing on interior condo repairs only).

What kind of man power do you need...how much work can each repair guy do in a day, week...

Can this be profitable for everyone?

Your feedback is much appreciated. If you are in the Los Angeles area and would be interested in a partnership please let me know.

Thanks,
Alan Myrick
 

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I can't offer advice on the handyman services, but I have done a couple complexes on a large scale, and actually have one going on right now. Best thing to do is get in with the property management company, even in the privately owned ones. My experience has always been great, and extremely profitable. The only thing that hurts is when you want a check, you will send an invoice, it must be reviewed by the board, reviewed by the management company, sent to the bank, and check will be cut and mailed. So sometimes, 2-3 weeks past the invoice due date. But that's business.
 

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If you're talking about larger condo communities, not just 4-unit condos and the like, condo owners are very conscious of not over-investing in the property - they have a ready supply of comps. We do some condo remodeling; I decline to bid at least 9 of 10 remodels for price reasons. For handyman and painting services, you simply need to have a clear price list.

Working for condo associations is another story - that can be profitable, steady work, as long as you perform and as long as you can deal with the payment schedule.
 

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Wow, funny you guys find the assocs. profitable. Haven't had much luck with hoa's myself. Not specifically condo assocs but communities. I've bid some work for them with no luck, maybe it's just me though. When I'm asked to bid them I make sure to bid how things "should" be fixed instead of the absolute min to get by for now. Around here bandades seem to be the norm and they send the most $ on making things "look" good instead.
 
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