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#270131 - 01/19/09 05:36 PM SIC and NASIC codes
MoREO Services Offline
Member

Registered: 01/07/09
Posts: 15
Loc: Saint Louis Missouri
Hello All:

What SIC codes or NASIC codes does a Property Preservation fall in?

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#270225 - 01/20/09 03:39 AM Re: SIC and NASIC codes [Re: MoREO Services]
BadAsset Offline
Member

Registered: 01/16/09
Posts: 106
Loc: Cold State
hmm ... maybe

56291 Remediation Services
562211 Hazardous Waste Treatment and Disposal
561790 Other Services to Buildings and Dwellings
561491 Repossession Services
531390 Other Activities Related to Real Estate

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#270232 - 01/20/09 04:31 AM Re: SIC and NASIC codes [Re: BadAsset]
allREOpreserv Offline
Veteran Member

Registered: 09/08/07
Posts: 708
Loc: Nationwide
MoREO ~

I take it you need these for your general liability insurance? These are the 3 basics:

"Building cleaning services, janitorial" 561720 Janitorial Services

"Rubbish (i.e., nonhazardous solid waste) hauling, local" 562111 Solid Waste Collection

Lawn maintenance services 561730 Landscaping Services, Lawn mowing services 561730 Landscaping Services

If you want to "specialize" in a particular area, over and above what's here, go to http://naics.com/search.htm and look it up by key word, then add that to the 3 basic codes. Be sure to check for required certifications or special permits and licenses for anything outside the norm.

Is the SIC for your Schedule C? BTW ~ Do you know how to build an SIC for your particular business? The NAICS site will walk you through it if you don't.

Linda
_________________________
Linda Hall, Owner
All REO Preservation Services
A+ Property Preservation Group [Nationwide]
allreo.mailbox@gmail.com

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#270273 - 01/20/09 02:50 PM Re: SIC and NASIC codes [Re: allREOpreserv]
MoREO Services Offline
Member

Registered: 01/07/09
Posts: 15
Loc: Saint Louis Missouri
Linda and BadAsset:

Thanks for your help! I went to both the SIC and NASIC sites and did the search thing but there were so many that sounded almost right.

Can a business have multiple sic or nasic codes?

Thanks in advance

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#270302 - 01/20/09 05:34 PM Re: SIC and NASIC codes [Re: MoREO Services]
allREOpreserv Offline
Veteran Member

Registered: 09/08/07
Posts: 708
Loc: Nationwide
Originally Posted By: MoREO Services
Linda: Can a business have multiple sic or nasic codes?

SIC, no ~ unless you have several businesses and each one requires a separate Schedule C. The SIC code is what identifies your business type for the government.

Here's the link for the Schedule C so you can see where it goes. Look on the right hand side just above your taxpayer ID number. http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

NAICS, yes. The NAICS breaks your services down into categories for the insurance companies so they can give you the right quote.

Linda
_________________________
Linda Hall, Owner
All REO Preservation Services
A+ Property Preservation Group [Nationwide]
allreo.mailbox@gmail.com

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#270310 - 01/20/09 05:54 PM Re: SIC and NASIC codes [Re: allREOpreserv]
MoREO Services Offline
Member

Registered: 01/07/09
Posts: 15
Loc: Saint Louis Missouri
Linda:

Thanks again, you are a wealth of information. I bet you'll have some feelings of pride watching my new company grow.

I am meeting with my insurance agent today so that will help.

Thanks again..

P.S. I like your avatar....wink wink

Kevin Dennis
MoREO Services
Saint Louis, MO
www.MoREOServices.com

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#270317 - 01/20/09 06:12 PM Re: SIC and NASIC codes [Re: MoREO Services]
allREOpreserv Offline
Veteran Member

Registered: 09/08/07
Posts: 708
Loc: Nationwide
Kevin ~

You're more than welcome. I don't mind giving information when I see someone headed in the right direction and not asking for my client list or my pricing. {{smile}}

And thanks for the compliment on my pic. I am, BTW, extremely camera shy so that's the best I can do. I thought about replacing this one with my favorite Ostrich pair from a local petting zoo or the Roadrunner I took photos of while on a jobsite. Maybe one of those would be more appropriate to some. LOL

Linda
_________________________
Linda Hall, Owner
All REO Preservation Services
A+ Property Preservation Group [Nationwide]
allreo.mailbox@gmail.com

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#270335 - 01/20/09 08:43 PM Re: SIC and NASIC codes [Re: allREOpreserv]
MoREO Services Offline
Member

Registered: 01/07/09
Posts: 15
Loc: Saint Louis Missouri
Linda:

I am sure any picture can ruffle someoneís feathers. As for the client list and pricing, I can see now I should have worded the questions different. Getting started seems like such an uphill battle. Sometimes itís nice just to get a couple pointers. Now that I "kind of" understand who might be potential clients things are starting to move. Next big challenge is going to be understanding the pricing structure but the HUD guidelines are a good start.

One day it would be nice to hear more about how you got into this business, your view on the industry, etc.

I come from 14 years in advertising and marketing. After dealing with one after another corporation that did not give a squat about you or what you have done from them I decided I wanted something else. I always liked real estate (the idea of taking a home and improving it and seeing the results), working with my hands some, seeing results daily in my work and the sense of pride that comes with a good job. I know this is hard work and people ask me all the time why would I leave such a great job in a nice and cozy office for a job picking up other people left over trash and other stuff and all I can say is that at the end of the day, I get to hold myself responsible for the quality of work I did and the income I make. It does not matter how much money you make if your not happy then your just killing time.

From what I see you have been doing this a lot longer than I. Personally I would love to hear the "Linda" story. Maybe PM me I am always looking for someone who knows more than me.....And I see your not in Missouri......yet!

Thanks
Kevin

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#270340 - 01/20/09 09:01 PM Re: SIC and NASIC codes [Re: MoREO Services]
allREOpreserv Offline
Veteran Member

Registered: 09/08/07
Posts: 708
Loc: Nationwide
LOL. Kevin, you don't want to hear my story. It's boring and the real adventures didn't start until I started finding out how "shady" my ex-partner was [and is], which is something I'll have to keep to myself.

It's nice of you to be interested, tho. I appreciate the compliment.

Linda
_________________________
Linda Hall, Owner
All REO Preservation Services
A+ Property Preservation Group [Nationwide]
allreo.mailbox@gmail.com

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