I was investing in residential real estate for 10 years while I was a corporate executive. I was buying houses on my lunch hour. I was fixing and repairing and leasing houses on the weekends. It started as an alternative to traditional stock market investing. Then, it slowly became a hobby, then a passion, and then I realized its potential as a business.
As a full-time corporate executive for 20 years, I could see the potential of my real estate investing. I could see how it could evolve from an investment strategy to a business strategy. But I needed some way to scale it and unlock the potential. That is exactly what a HomeVestors franchise provided to me.
It was the key that unlocked the door from being a part-time or weekend warrior of a real estate investor, to a full-time entrepreneur/ business owner centered around single family residential real estate investing.
As a HomeVestors franchisee in Dallas, I have the chance to speak with independent investors interested in joining this brand. And, since I was a former part-time investor myself, I understand the very different aspects of this process.
Please note: Being an independent real estate investor is not synonymous with freedom. Yes, you are “free” to do whatever you want – I was free to do likewise – but that freedom is narrow and not always effective.
A private investor does not necessarily have the visibility or instant credibility that a company like HomeVestors enjoys.
Nor does that investor have the built-in, local network of contractors and subcontractors, electricians, carpenters, gardeners, roofers and plumbers that HomeVestors can call upon without delay. He or she must find these professionals by himself or herself, which is not easy to do.
Also, an independent investor enters a neighborhood with no name recognition. Why? Because he or she does not have the national advertising budget, online promotional campaigns and broad portfolio of experience that a brand like HomeVestors has.
People sometimes say, “Hey, I can be a residential real estate investor from my kitchen table; why do I need HomeVestors?”
It’s the HomeVestors brand. The “We Buy Ugly Houses” brand. It is incredibly powerful and that is truly what unlocks your potential. We are the people nationwide that distressed sellers come to when they find themselves in a position where they need to sell their home, and sell it quick, because for whatever reason it cannot be sold successfully on the traditional retail market.
And, they are looking for someone they can trust and who they can count on to solve this situation for them. It’s that brand that attracts those people that nobody else has access to.
Credibility means a lot to home sellers
That credibility corresponds to some very impressive numbers. For example: HomeVestors has bought, renovated, rented or sold over 50,000 properties nationwide. That means when I enter a neighborhood – when I enter my neighborhood – I have a positive reputation, as a HomeVestors franchisee, that precedes me.
As I explain in this broadcast, homeowners already know about HomeVestors. I do not have to “prove” myself, nor do I have to explain what HomeVestors does. I arrive with a strong brand name at my side, quality service at my disposal and a wealth of local resources at my request.
Those contractors and carpenters (and others) referenced above – they already work with franchisees.
So, HomeVestors simultaneously enhances its visibility throughout the U.S. while it strengthens its ties with individual vendors in communities across America.
I could never do those things on my own, not without a full-time marketing department, guidance from colleagues, training programs and so many other resources that an independent investor lacks.
In my case, being a HomeVestors franchisee makes it simpler – and better – to create a corporate identity that potential clients respect. It also means that referrals are more frequent, thanks to word-of-mouth testimonials and an established record of sustained success.
These benefits do not, however, suddenly or magically accrue to any and all franchisees. We are part of team, regionally and nationally, and have a responsibility to behave with absolute professionalism. In other words, how I do business in Dallas has an impact on how a fellow franchisee does a deal elsewhere; we have a mutually beneficial goal to be every prospective client’s trusted adviser and every franchisee’s ally.
Some advice for real estate investors
Some valuable advice to those reviewing HomeVestors and its select competitors: Perform your own due diligence. Which is to say, I do not have to be a corporate cheerleader for HomeVestors; and I have no interest in bashing our competition. I do, however, have an interest in telling the truth, free of any exaggerated statements or unsubstantiated claims.
And, the truth is, I am proud to be a HomeVestors franchisee. I am thankful to be a member of this brand because of the advantages it offers and the confidence it inspires among residents nationwide.
Based on these facts, I happily recommend HomeVestors to someone who wants the influence this company possesses. Those assets translate into sales – a lot of them – that no independent investor can match.
These reasons are why I am a proud HomeVestors-Dallas franchisee. I welcome the chance to speak with investors thinking about joining this organization. I am here to help, with enthusiasm and accessibility.