Courtesy M&K Preservation LLC
By Andrea Harwood Palmer
Mandi Marra began her property preservation company out of Ballston Spa four years ago.
“It’s a complicated business. It’s an ever-evolving industry,” said Marra.
The company manages bank owned assets such as foreclosures. M&K Preservation acts as a third party to the bank that owns the foreclosed property, contracting with national mortgage field companies such as Mortgage Contracting Services LLC. They are the eyes and the ears for the company out in the field.
Marra began her career working in the back office of a friend who owned a similar company in a different region.
“I was really inspired by her and the work she did. She taught me how to navigate everything, and I decided to give it a shot for myself,” said Marra. Marra works within an hour radius of Ballston Spa, and works with different national mortgage field companies, to avoid any semblance of competition between the two businesses.
Over time, the company grew to include seven other employees and five company vehicles out on the road. Marra employs her own contractors full time. Each are supplied with a company work truck.
When M&K Preservation first gets a service request, her company assesses the distressed property for repair costs. Locks are changed and plumbing is winterized. The contracting agency decides how much money they want to put into repairs, and M&K Preservation completes the work.
M&K Preservation also maintains and services bank-owned properties to avoid municipality penalties on snow and grass maintenance. New York state has legislation addressing so-called “zombie properties,” imposing a responsibility upon mortgagees or their servicing agents to inspect, maintain and secure abandoned and otherwise vacant properties.
M&K Preservation, LLC is considering a small expansion into the Syracuse area.
Otherwise, Marra intends to keep the business intentionally small, centrally located and within reasonable control. While the day starts for the team at 7 a.m. when the trucks hit the road, Marra’s day ends far after everyone else has gone home.
M&K Preservation, LLC is located in Ballston Spa.