Interesting conversation with HomeVestors

[Ryan Dossey]

I secret shopped my competition to see what I can be doing better. I called 6 companies in St. Louis to see how they handled my call. What their offers were. As well as general quality. 

(Full report on my blog) 

What I found interesting was my chat with HomeVestors the representative flat out told me that they are wholesalers. They need to have enough margin to sell it to someone else and make a profit. I wonder if that would be effective for a traditional wholesale business. 

I personally have always used the "I buy houses" line. I actually do. My primary goal is always to rehab or get seller financing. It just makes me wonder if they lose clients with that line or if people are willing to haggle more.

[Mike Hambright]

Ryan - you spoke with 1 of almost 700 franchisees.  Each office/franchisee has different strategies, and those tend to change over time.  Our most successful franchisee generally have a number of exit strategies to allow them to buy as many houses as possible.

All that said...the ability to always do our best to buy at a price low enough to be able to wholesale it makes it that much sweeter if we choose to rehab or keep it as a rental.

Mike