Who is HomeVestors of America?

HomeVestors® is the #1 buyer of houses in the U.S., and the largest and most successful franchise company in the business of buying houses in need of repair.
The Dallas-based company has about 600 independently owned and operated franchisees in over 40 states. Among the company’s most notable achievements, HomeVestors® has been named to Entrepreneur Magazine’s Franchise 500 list for six consecutive years.

What is the history of this company? How long has it been franchising?

HomeVestors® of America, Inc. was incorporated and began franchising in 1996. Since its formation, HomeVestors® has bought over 60,000 houses.

What is the relationship between HomeVestors and its franchisees?

Each HomeVestors® franchise is independently owned and operated. HomeVestors® franchisees benefit from:
• A comprehensive program supplemented by training throughout the year
• Ongoing support, including a Development Agent for coaching in daily operations
• A comprehensive operating system and proprietary property evaluation system
• Access to sources for financing
• National vendor relationships providing economy-of-scale savings
• Use of the most widely recognized real estate investing brand in the country, We Buy Ugly Houses®, its registered Trademark.

What types of homes does HomeVestors buy?

HomeVestors® franchisees are most interested in single-family homes, but occasionally they buy other types of properties, such as condominiums, townhouses and duplexes. They all have in common their need to be repaired.

By HomeVestors standards, what is an ugly house?

“Ugly” can refer to the cosmetic condition of a house on its exterior, or also to a property:
• That’s in poor shape on the interior because of the repairs required to make it ready as a rental or a home for a first time homebuyer.
• That holds memories the owner wants to move away from, such as those of a deceased spouse or parent, or following a divorce. We call these “ugly situations”
• That’s owned by someone who no longer wants the responsibility of taking care of the house
• That’s owned by someone who no longer can afford to take care of the house, perhaps due to the loss of a job or other debts
• It may actually be an older home in very good shape, but it simply needs a lot of updating. It may have appliances, carpeting and decorating that were very much “in style” when the home was purchased, but those “avocado” counter tops and kitchen sinks just will not sell in today’s market.

Does HomeVestors buy foreclosure properties?

Some HomeVestors® franchisees buy properties that are facing foreclosure, but generally these properties are less appealing because they typically are heavily encumbered with debt. The owner usually has little equity in the property.

Has the current real estate market environment affected HomeVestors?

Most of the homes that HomeVestors® franchisees buy are valued below the median home sales price in their respective markets. On a national basis, this segment has been least affected by the foreclosure crisis. There is always a demand for this price range houses for first time home buyers and investment properties. To the extent that the foreclosure crisis and the recession overall have contributed to a tightening of credit for home buying and investment, some franchisees have experienced an impact.
The recession and credit crunch are a reminder that success in residential real estate investing is less about speculation, and more about solid business fundamentals: Buy at a discount, rehab smartly, and sell at a fair price to either a first time home buyer or investor looking for a cash flowing rental property.

Why would I need HomeVestors?

HomeVestors is the only investor based real estate investing franchisee system. With over 60,000 houses purchased we are also the largest home buyer in America. As a franchisee you have access to a proven lead generation system, a nationally recognized brand, an incredible training, mentoring and support system, the ability to surround yourself with hundreds of successful others that have similar goals to you, and much more. Anyone can do this themselves, but few, if any, can compete with us.

What is HomeVestors looking for in a franchisee?

Though previous real estate experience is not necessary, we are looking for prospects that have a passion for being successful as a real estate investor, and as a loyal team member of the HomeVestors system. We’re interested team members that are interested in being a part of something much bigger than themselves, those that are coachable, no complainers, and those willing to roll up their sleeves and work hard. Contrary to what the so called ‘gurus’ say, real estate investing is not ‘easy’. If you have a desire to be successful and have the drive to make your goals happen this opportunity may be for you.

What is the process of becoming a franchisee?

As a franchise system, we’re regulated by the Federal Trade Commission (FTC), and must follow a formal process to consider and approve new franchisees. It’s not a complex process, but essentially includes time for you to consider whether a HomeVestor’s franchise is right for you, whether you’re the right fit for the HomeVestors team, a review of our requirements, application, approval and training. This process is typically completed in about 30-45 days..

What fees are involved?

HomeVestors is one of the lowest price franchise opportunities available, particularly given the opportunities. There are two levels of franchises available which can accommodate most interested individuals. In addition to the initial cash investment to purchase a franchise, there are fees assessed on transactions, and costs to advertise and operate your business should be considered.

Is there a training program?

Each new HomeVestors franchisee spends 1 intensive week in training at the HomeVestors HQ in Dallas, TX, followed by ongoing training, mentoring and support for as long as you’re a franchisee.

Do you offer any incentives for Veterans?

HomeVestors is proud to offer a discounted franchise fee to US Veterans.

How many franchises are there currently and how many are allowed per market?

There are currently over 600 franchisees across more than 40 states, and growing rapidly. The number of franchisees in each market will vary depending on a number of factors. Limits to number of franchisees in a market have much more to do with total level of advertising dollars being spent than simply ‘head count’ of franchisees.

Do I need to be a licensed Real Estate Agent?

In all but a couple states, you are not required to become a licensed real estate agent. Requirements to sell and buy houses on your own behalf are generally minimal, but do vary by state.

How Do I Learn More About The HomeVestors Opportunity?

Click HERE to join us for an upcoming informational webinar.