We Buy Ugly Houses franchise worth it?

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We Buy Ugly Houses franchise worth it?

Cyrus Mahmoody
Corte Madera, CA · Member since 2016 · 5 posts · 2 votes
Hi everyone in BP. I and my family are about to sell our current business and get in to real estate investment in San Francisco bay area (where we are living). I have some renovation experience bit not in US. So I searched around and found HV franchise. The associate franchisee would cost about $18,000. And they will provide leads, marketing, hard money and some softwares to help you evaluate the deal. Also they would be a coach/ mentor all the way to help you through the job. And There would be so me marketing fees each month even if you don't sell a house. Another important thing about this franchise is that there would be no need for real estate agents and commission pays. So, this is one of the most important things I liked about them. But since it would be huge move for us I would be so so so appreciated if anyone can share their thoughts about HV. If anyone here is currently working with them, I would be glad if you can share your contact information with me to get some advice from your experiences. Thank you everyone in BP.
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Aaron Rowzee
Investor · Lumberton, TX · Member since 2017 · 146 posts · 93 votes
8y

I do not understand the vehement hatred for this franchise. There are either people that love them and are extremely successful, or those that hate them and never give a good reason. 

I just met a local BP group participant who is on his third year I think with Homevestors, and has already done over 300 deals and owns 150 doors. I'm absolutely looking into them at this point to see if the annual fees would be worth the lead generation. But the fact that they also have 100% financing through their own hard money is another plus.

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  • Jeff B.
    Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    9y

    "The associate franchisee would cost about $18,000."

    I'll just refer you to the Settlement on the Trump University suit - - 25 million for 4000 students - - all up selling and failing to deliver on promises made.

    Make sure there are deliverables WORTH 18k, and IMO the entire population of the country would not be that valuable - - that's an unqualified list of names w/o interest.

    1Reply
  • Mike Nelson
    Pleasanton, CA · Member since 2016 · 11 posts · 3 votes
    9y

    I am familiar w HV. I was exploring the option of signing on with them. In my opinion, it really depends on your experience in RE and your overall goals. I have purchased a cpl homes from HV wholesalers and i do know they made a very respectable assignment fee. I have not made the move to jump on board with them but I do believe it can work for the right person. If you want any more specific info feel free to PM me. 

    1Reply
  • Jeffrey Hotz
    Real Estate Professional · Dublin, OH · Member since 2013 · 251 posts · 165 votes
    9y

    Hi Guys, Im a HomeVestors guy in a few markets in the Midwest and @Jeff B. by no means are we Trump University.  This isn't a guru operation but a franchised business that provides a system and support to become a full time Real Estate Investor, or allows already full time investors ability to be associated with a national brand of around 800 and all the advertising benefits that come with it.

    There are 3 areas I would say are highly worth the cost: Motivated Seller Leads, 100% funding for purchase and repair, on-going training/coaching and support for a true team environment.

    Reality is this business Isnt for everyone as there are costs associated and certainly isnt "get rich quick", or are we going to upsell or make guarantees.  If you come up with a better way thats cheaper, let me know and ill do that!  I don't think anyone likes paying franchise costs, but saw a HomeVestors ad on American Pickers last night, so thats the value.

    A lot goes into this business and certainly HomeVestors so feel free to reach out with specific questions and Im glad to help you figure out if its a fit for you or not.  Happy to help where I can.

    3Reply
  • Cyrus Mahmoody
    OP
    Corte Madera, CA · Member since 2016 · 5 posts · 2 votes
    9y
    Thank you Jeffrey for the reply and offering to help. I would definitely contact you to get some more information. 🙏🏼
    1Reply
  • Scott Lepore
    Flipper/Rehabber · Littleton, CO · Member since 2014 · 75 posts · 75 votes
    8y

    @Jeff B. Tell me why they are a scam company?  That is, I would like to know your actual experiences with them that led you to the conclusion that they are not reputable and they upsell and make false promises as your comparison to Trump implied.  Thanks.

    0Reply
  • Aaron Rowzee
    Investor · Lumberton, TX · Member since 2017 · 146 posts · 93 votes
    8y

    I do not understand the vehement hatred for this franchise. There are either people that love them and are extremely successful, or those that hate them and never give a good reason. 

    I just met a local BP group participant who is on his third year I think with Homevestors, and has already done over 300 deals and owns 150 doors. I'm absolutely looking into them at this point to see if the annual fees would be worth the lead generation. But the fact that they also have 100% financing through their own hard money is another plus.

    5Reply
  • Taylor Schooley
    Investor · Beaumont, TX · Member since 2015 · 19 posts · 9 votes
    8y

    Dude, Aaron, we have such like minds.

    1Reply
  • Karen Rittenhouse
    Flipper/Rehabber · Greensboro, NC · Member since 2010 · 623 posts · 615 votes
    8y

    @Aaron Rowzee

    Our success with the franchise blows my mind. Like any investment, not everyone will be successful. We can sell you a franchise, but we can't make you work it...

    I'm happy to discuss with you anytime you're interested. I love talking about both real estate investing and our HomeVestors franchise.

    3Reply
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