Mortgage Default Information

Entrepreneur finds business opportunity in foreclosures

BUILDER Online |

In Brief...

Where some people see bad times, others see opportunity. Matthew Greenman of Boise started a business around the rise in housing foreclosures. Then, Greenman said, "we get the property ready for sale - whatever it takes to get the house ready for sale within the bank's budget. Sometimes the displaced homeowners have remodeled the house and want their investment back; other times, Greenman said, there may be an element of vindication in leaving a house they're being forced out of slightly damaged, or a survival ethic that says a stove or cabinet may come in handy down the road. So far, Greenman and his five employees have handled securing, cleaning or repairing 50 to 100 homes in southern Idaho. Greenman has taken his own lumps in life and in business. MTG Networking, an IT consulting firm, which he started eight years ago; CSF Vending, which handles some Redbox movie vending machines in the area; and CSF Ventures, which he originally started as a small land development firm in better economic times but which now serves as parent company to his other enterprises. Greenman learned the construction trade while attending Meridian High School as a teen. Unfortunately, it was the partner who tanked the business this time, with some unethical activity Greenman did not disclose.

Read the entire article at BUILDER Online...

Related Topics