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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: 1tolivesimply on September 19, 2016, 02:47:31 PM

Title: Anyone familiar with HomeVestors Franchise?
Post by: 1tolivesimply on September 19, 2016, 02:47:31 PM

Hello,

I have been looking for out of state RE deals and came across this franchise. Has anyone here ever had any experience with them? Would you recommend them? Should I run as fast as I can?

Thanks in advance.

Title: Re: Anyone familiar with HomeVestors Franchise?
Post by: Blindsquirrel on September 19, 2016, 03:31:11 PM

http://www.ripoffreport.com/r/Cash-4-Houses-HomeVestors-Franchise/Mobile-Alabama-36602/Cash-4-Houses-Franchise-Of-HomeVestors-Of-America-UGLY-SITUATION-No-Theyll-give-you-281451

check them out on biggerpockets and type scam after the name in google.

Title: Re: Anyone familiar with HomeVestors Franchise?
Post by: Uturn on September 19, 2016, 04:08:16 PM

I don't know anything about HomeVestors, but will give you something to think about regarding any franchise.   

When you buy a franchise, you are buying name recognition and advertising.  Everyone knows who Subway is, no one knows who Bob's Super Awesome Sandwiches is.  The number 1, 2, and 3 question that you need to ask is, is the name recognition and advertising worth the cost?  The franchisee is going to give you a game plan, but is it really something that you cannot go learn on your own? 

If name recognition + advertising + the business plan is greater than what you can do yourself, then the franchise is worth it. 

Title: Re: Anyone familiar with HomeVestors Franchise?
Post by: 1tolivesimply on September 19, 2016, 08:29:37 PM

Thanks Uturn, but I was actually asking about experience dealing with the franchise, I'm not considering getting one.

Title: Re: Anyone familiar with HomeVestors Franchise?
Post by: Uturn on September 20, 2016, 06:53:00 AM

I miss-read the question.  Oh well, maybe someone who needs that answer will stumble by. 

Title: Re: Anyone familiar with HomeVestors Franchise?
Post by: Unstoppable on September 21, 2016, 08:38:09 AM

HomeVestors is basically a wholesaling franchise. I have experience with them in Cleveland. They have a system and a brand behind wholesaling, whereas most other wholesalers are solo operators who may or may not be doing things in line with the laws of your state.

The HomeVestors franchise here actually has licensed Realtor working there, so they have to abide by the laws of Ohio. They market to motivated sellers via billboards or mailers, get property under contract for less than market and then sell them to investors (below retail is the advertised idea).

I have not done business with them personally, but have met with one of their agents a handful of times and know an investor that they are dealing with and reviewed one of the properties that they sent him (he is out of state). It wasn't misrepresented.

Hope that helps.