Homevestors Franchise information ?

6 Replies

Hi Asar.  I purchased a HomeVestors earlier this year and have been running it since June. I have generally been please with the results. Prior to buying a franchise, I was flipping a couple houses each year. 

While there are many, many people who are able to build substantial real estate businesses without using the franchise system, such as HomeVestors, I found it it was the right direction for me. If you were to do it on your own, without a HomeVestors franchise, it may be less expensive upfront. However, my decision to buy a franchise was primarily geared around the idea of recognizing my own strengths and/or passions.

I like the idea of being able to outsource parts of my business to the HomeVestor system. For example, marketing. I am able to tap into their expertise and not worry about this. They are running marketing campaigns for hundreds and hundreds of different franchises all across the country, with millions of dollars being spent each month. I have peace knowing that my marketing dollars are being implemented by experts who know far more than I do about how to achieve success. This was important for me. If I am able to outsource most of my advertising efforts (at about the same cost as doing it myself), and know that my money will be spent in an effective manner and generate leads, without me needing to lift a finger, I am now able to focus my attention on other areas of my business.

I am just beginning my sixth month within the system, and the results have been better than I anticipated. I have been extremely pleased thus far.   I have had a couple incredible, home-run deals so far, along with a number of singles and doubles.

If I recall correctly, some crazy number of franchises renew when needed (like 98% or something - but don’t quote me on the exact figure because I don’t recall, I just remember it was mindblowingly high).  If people in the system were displeased, the turnover would be substantially higher  

On the downside, this path will cost money. Early on, the fees are a little expensive, and I have had some frustrations with that. But with a little hard work, you are able to get the fees down to a very fair level. And even with the fees, I have been able to win more deals from competition than I have lost. The beauty is that because of the sophistication of who the advertising gets directed to, I generally do not have any competition. More often than not, the people I am meeting with are only calling me and nobody else  

One thing I would recommend you do, regardless of if you use HomeVesotrs or not, is to plan for the worst, even if hoping for the best. This business can be really “lumpy” when getting started. Make sure you enough reserves to last through any dry spells.  
 
Feel free to connect with me through Bigger Pockets messages if you want to discuss my experience in greater detail. Just connect with me and we chat. I don’t believe personal contact info can be shared in the forums. 

I wish you much success with your real estate journey. It is an exciting industry, with so many opportunities to make money and find fulfillment. 

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