Jay Houghton
Western Wayne County
22718434
Services: Real Estate
$299,000
1985
6
$580,000
$125,000
$NA
$125,000
$NA
Not Disclosed
Not Disclosed
Reason for Selling:
Relocation
Overview of the Business:
This business provides environmental assessments and reports of properties that include the study of asbestos, lead, water and soil contamination's and other hazardous materials. The service evaluates if a property has any environmental problems and the extent of the problem. Commonly referred to as Phase I, or Phase II Environmentals. This type of study is required by the lender as part of the mortgage underwriting process. This company also gets involved in the remediation of problems they identify.
Property Features and Assets:
Excellent small office in an attractive South East Michigan location. Adequate for the employees and easy access for clients.
Market Competition and Expansion:
There is some competition for these services. However current relationships with banks, lenders and other investors has created a strong repeat customer base. A more aggressive posture and a budget for marketing and sales development could greatly expand the business. This service is most often a requirement for commercial mortgage lenders so it's a matter of capturing demand, rather than creating it.
Additional Details: