Posted by Hank FL on October 20, 2003 at 18:10:31:
Good plan.
Too bad the guy by me knows how to do all types of deals.
HomeVestors Franchise - Posted by Javier
Posted by Javier on October 19, 2003 at 18:04:12:
I just saw a billboard ad about the subject company and visited their website to learn more about them. Have you worked with HV franchisees? What’s your professional opinion about this business oportunity? It seems like these guys may put ‘newbies’ out of business with their advertisement campaings, resource advantages?
Thanks,
Javier
Re: HomeVestors Franchise - Posted by jasonrei
Posted by jasonrei on October 21, 2003 at 20:04:43:
My area has over a dozen different HV franchises. I know several of the franchise owners. They email and fax me a lot of leads, but only about 2% are deals I’d do. IMO some franchisees offer the occassional good flip, some aren’t even in the ballpark.
I’m impressed by their advertising, and have never really heard anything negative about them. My partner and I are full-time rehabbers, and even with the dozen plus franchises in my area, I think we’ve competed with them on maybe 6 deals in the last 2 years.
As for resource advantages, I don’t know that they have THAT much of an advantage over any other active investor with $30k a year to spend on advertising. They do seem to have some nice funding sources, but I know they use HMLs on occassion.
Re: HomeVestors Franchise - Posted by Sean
Posted by Sean on October 21, 2003 at 10:11:19:
There is a HomeVestor in my town, and its not hurt investors one bit… Let them wholesale all day long, if they bring me a good deal I’ll buy… if they bring me a bad deal I won’t. Frankly the deals the Homevestor in my town have put in front of me so far aren’t good enough for me to touch… .they’re either paying too much to the sellers or they’re marking up too much either way, thus far they haven’t provided me anything I can’t A) find better on my own, or B) get better deal from independent wholesaler.
There is no way one company can suck up all the junkers and for sale by owners in any sizable city or town. As to their marketing campaigns… I am sure their billboards bring in business, however I’ve found a $30 a week add in the pennysaver and a web site running 24/7 brings me more than enough prospects… and that doesn’t count just the regular foreclosures out on the multilist to be had.
Their marketing might get them more leads, and may give them more “credibility” but I just don’t see them running the independent guy out of business.
Re: HomeVestors Franchise - Posted by Brian_TX
Posted by Brian_TX on October 20, 2003 at 17:58:05:
Javier,
I think it is fantastic you have a homevestor franchise in your city. As a matter of fact, one of the homevestor franchisees is on their way to my office in the next 20 minutes to pick up a referral fee. How would you like to get 2 to 5 leads per day faxed to you from homevesor franchisees? I do. I have 2 franchisees that fax me daily. Hmmmm. They pay 8 to 10k each month on advertising and they give me the leads that dont fit their criteria. It is just like I spend the money and pick the ones I want. Homevestors has a particular formula and do not waiver outside it for the “homevestor” purchases. I would get on the phone and set a time to meet your local homevestor franchisees and ask them at the meeting, “Do you ever get leads on houses that you end up not purchasing because it doesn’t fit your criteria?” Come to an agreement on the referral fee for each one you end up closing on “Sub To” or “Lease Purchase” and then have them fax you with all their “dead leads”. You will be their number one go to guy. If you want to see what kind of homes I get from them that don’t fit their criteria, visit my webpage at www.metroibuyhouses.com and click on available properties. My email and phone number is on the website if you want to call and I will give you pointers on your visit with them. It will be very profitable for you.
Wealth and Prosperity
Brian
Re: HomeVestors Franchise - Posted by phil fernandez
Posted by phil fernandez on October 19, 2003 at 18:25:06:
The small guy will never get put out of business in our business. And I’m a small guy.
There is no substitute for person to person, face to face problem solving. It’s all about building trust with your potential sellers. Your seller has a problem and it is up to you to solve his problem. If you solve his problem you get paid.
Can some big franchise give your sellers the individual attention that you can. Franchises are good for the ones selling the franchises.