Considering making a living in the HI industry.

Put simply, is now a bad time to start a business in home inspections? With such a downturn in the economy and the housing fiasco, would I be better off doing something else? I have been looking at doing this for about three years now. Am I too late? Please discuss…

What is BHHI?

Well, let’s do the math (minus = bad for you, plus = good for you):

There is about a 20% drop in existing housing sales and a complete bust in new home sales.

Let’s call it minus 25%.

Now according to we’ve lost exactly 1/2 the inspectors in our industry in the past 12 months.

Let’s call that a plus 50% since you have fewer competitors.

Now licensing has been adopted in several states this past year which means the number of inspectors and inspection schools will triple in those states.

Let’s call that a minus 12% since you have more competitors.

Now InterNACHI is adding many more types of inspections and seller inspections and environmental inspection and annual inspections and oversight inspections None have taken off with a bang but all are increasing.

So let’s call them a plus 5%.

All in all it looks like a postitive change from last year overall. Jump in.

And if you do jump in… read … twice. No, read it 3 times.

What is BHHI??

No Idea,

The domain name is for sale Prices in the region of US$4675

BHHI is an acronym for the proposed name of my HI business. This is all good info. The state of Utah does not currently require licensing. I feel that this is in my favor right now. Do you all agree?

No, but that is another subject.
If you screw up on your way to being a CMI, there is no standard for inspection and any lawyer can make up crap about what you should have done (in their eyes).

But it will cost you less to try to get started.

Don’t wait for a GOOD day to start, by the time you catch up it will be another BAD day. :slight_smile:

Oh, and about the BHHI. It and the logo say nothing about what you do.

Unless you plan on becoming an IBM (which I don’t know what that stands for either), a lot of people may pass you by.

ps. “International Business Machines Corporation” I know now! :wink:

Go for it now!! Andersen may not agree, but get what ever business license or other state regulation you need and get your self set up in business!
Licensing will be coming to your state eventually, so at least you have a jump on things already being in business. Makes the transition into state licensing easier.

Don’t believe all the hype you might get from the HI schools, they have a tendency to “down play” the real struggles of getting started, and paint a rosy picture.

Would be an interesting statistic to get, of how many people take a HI school, then enter the business and fail, or never enter the business for one reason or the other.

If you still are going to enter the HI business, do your research!! Take nothing for granted.

All is going to depend on your back ground and knowledge of the workings/construction of a house. Also, any HI schooling you will take, etc.

Finally, there is a wealth of knowledge and information here on the NACHI BB and web sight. Take advantage of it!!!

Good Luck

Worth repeating!

This is all really good info. Is the program offered by Allied a good place to start? BHHI and logo is just for the avatar on this site. Full name is Black Hawk Home Inspections. I will not be using the acronym anywhere else.That brings up another question. How do most of you have your business set up? Sole proprietor or L.L.C.? Thanks in advance. This site has been great in helping me to take this step.

Not saying it is bad, just now one knows what it is on here, so it is likely it wouldn’t fly elsewhere (no pun intended) :wink:

Talk with Russel Ray and others about this marketing stuff, it is not my forte.

Why would the numbers increase? I understand why the schools would increase, to take advantage of the money to be made. But, wouldn’t the number of inspectors fall? I would think the ones who were in it for a quick buck and were not worth their salt would be pushed out.

Out of my HI class in 2003, only 3 of us out of 21 are Home Inspectors. :slight_smile:

I think Allied is a good course study to use, just became a certified home inspector today as a matter of fact with the course. It has a few flaws but nothing major, there onsite dvd needs alot of work, and the pocket PC ins’t worth it. But all in all it covers everything you need to concern yourself with in this industry as far as a basic home inspection, so if you have any other questions specific to Allied let me know, no problem on giving you the heads up…

Adam T. Veitenheimer

Chad writes:

Good question. might help.

My HI class of 2003 has about 4 out of 25 still in the bus. Marketing, marketing, and more marketing. If you’re not understanding that then it does not matter how much knowledge you have or how good you do an inspection. 70% of this bus is marketing.

You must have literally live and breath hi to make it.

LLC as a sole proprieter. Nicks guys, LLC advice is not current, at least not for AZ.

Any time is a good time to start if one understands how to market one’s services, is not afraid to market one’s services, and, if marketing is not one’s forté, is prepared to hire people to help one market one’s services.