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HomeVestors of America, Inc.

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HomeVestors of America, Inc.

HomeVestors, the "We Buy Ugly Houses" company.

Description

The HomeVestors Business Model

HomeVestors franchisees are professional real estate investors who specialize in buying and selling undervalued houses. Experts estimate this to be a $10 billion industry in the United States.

Most investors who buy undervalued real estate focus on the distressed market, including foreclosures and bankruptcies. HomeVestors has discovered a broader niche market of motivated sellers. These sellers are willing to sell their property at a substantial discount off retail value in exchange for quick cash and the convenience of selling as-is.

In addition to foreclosures and bankruptcies, situations that help to motivate a seller include:

  • Inheriting real estate located in another city and/or state
  • An owner of rental property desiring to get out of the business
  • Needing to raise quick capital for an investment or personal reason
  • A property requiring an extensive number of repairs.

Research shows that from four to six percent of all sellers fall under the category of The Pieces to the Puzzle

HomeVestors has developed a system for investing in real estate that has proven successful when it is followed accurately and consistently. This system rests upon three guiding principles:

  • Continually find properties to buy. HomeVestors has created a powerful lead generation program that directs sellers to you. The foundation of this program is our advertising and marketing strategy, which includes television, outdoor, radio, Yellow Pages, and Internet advertising, as well as targeted direct mail campaigns.
  • Make quick and accurate offers. HomeVestors provides franchisees with proprietary repair evaluation software designed to determine how much a particular house is worth and what it will cost to rehab the house. You input the requested figures, and it helps you target fair and accurate pricing on purchase and rehab.
  • Close quickly. HomeVestors franchisees can quickly and easily access funds for buying and rehabbing houses through corporate interim lending programs.

The Full Picture

HomeVestors provides everything a real estate investor needs in order to be successful. In addition to the programs described above, HomeVestors franchisees have access* to:

  • A nationally recognized brand and established image that draws motivated sellers
  • Complete training and support programs
  • Ongoing business development consultation and coaching with a Franchise Systems Manager
  • Peer interaction at conventions, workshops, masterminds, and training events
  • Internet access to key information on selling
  • Ongoing research and development
  • Referral programs to generate leads in other cities
  • Vacant property insurance at group rates

Training / Support

HomeVestors recently opened a training center that seats 100 theater-style. At least seven times a year, prospects fly to Dallas, TX for a 10-day course.

Qualification requirements

Must have a minimum of $200,000 liquid capital; background in business, sales and customer service desired; highly motivated, aggressive, people person; no absentee ownerships allowed.

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Franchise details

  • Franchise category:
    Business Opportunities
  • Franchise type
    OfficeBased franchise
  • Year established
  • Franchising since:
    1996
  • Franchised units:
    255
  • Provides financing?
    Yes
  • Start-up cash:
  • Investment:
    $100,000 - $200,000
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