All Forum Posts by: Jeffrey Hotz

@Michelle Cohen send me your contact and I'll forward you to a local franchise.  I'm with HomeVestors, the "We Buy Ugly Houses" guys.  Should add though that we're not miracle workers and often homes are simply too far gone for anything to be done.  Worth a call of having someone take a look at least.

I was leaving active military service back when the job market was crap, so I decided to create my own job and buy a franchise of HomeVestors of America, Inc. the "We Buy Ugly Houses" guys. Was a tough decision since I had no real estate investment experience, but it's been highly worth the costs for me.

I'm a franchise of HomeVestors like John in the article and have moved markets now 3 times.  I should add that I was active military for a long time so my family is used to moving.

Moving markets under a large national brand is much much easier than trying to do it as an individuals investor.  For me, I'm able ramp up exceptionally quick in the new territory with the branding already in place.  For others this could take years I'd think.

@Jay Hinrichs

You're right, they can certainly search tax records and try to find number.  Short of registering the assignment contract and clouding the title there's not much you can do if someone goes behind your back, and an assignment contract isn't going to hold up well in court.

I entirely agree that wholesaling sucks.  Its not my primary business model, and in the end I can say really leaves a lot of $$ on the table.

I've actually been on the other side of a tied up wholesale a few times and it's frustrating.  Where I wanted to buy a home a wholesaler was trying to sell at way to high a price and hadn't to wait months for it to fall out so I could position seller.

For us (HomeVestors the "we buy Ugly Houses" guys) as a large national brand everything is highly disclosed so I dont think many franchisees run into this scenario of someone going behind our back.  We advise our franchisees to initially wholesale for quick cash and then use more profitable exit strategies as they become more comfortable with the business.

In my business model I only wholesale homes that are lower value areas that have no market price support, or if the seller needs a higher price than I can pay cash and I know I can make a decent margin.  Otherwise I close.

I should add that I am licensed in a couple states.

@Cyprian B. yea but be careful as sometimes the reality isn't as good as it looks on paper.  

Your numbers look good, as long as that's the reality.   

I'm actually moving to Columbus in a few months, and highly familiar with the area.  Wondering what neighborhood?

no worries then, there's lots of people using bandit signs and they can say we buy houses, just can't use "Ugly" or it becomes an issue.

Thanks for the response, sounds like it is our board there, which is perfect!

Hey Cyprian B. why invest all the way in Columbus, and deal with remote management, when I'm sure there are opportunities in San Antonio? Do you manage property remotely now? I have tried in the past and now use PM for all of my properties. Just throwing it out there as I think it's important to always factor in PM into calculations. If you don't use it then higher cash flow, but if you need at at least you know it's not going to break the bank.

Might not be the same company then, bandit signs of brown cardboard are illegal, and we're a huge national brand held to higher standard.

I'm also concerned about the use of Ugly on the billboard as that's a branded term only HomeVestors franchisees can use.

Also, depending on your state, but yes black out sellers info and mange closing through your title company. In an attorney state this gets more tricky.

Require non-refundable deposit next time only for sellers lack of closing.