They buy ugly houses: a remarkable franchise company has built a business around buying, rehabbing and selling houses in need of help.
Mortgage Banking › Vol. 66 Nbr. 9, June 2006 ›
Linked as:
Summary
Home Vestors of America Inc.
See the full content of this document
Extract
They buy ugly houses: a remarkable franchise company has built a business around buying, rehabbing and selling houses in need of help.
John P. Hayes hates for anyone to use the f-word around him. You know, that four-letter word that begins with the letter f and ends with the letter ... p. That's right--Hayes, president and chief executive of Dallas-based Home Vestors of America Inc., doesn't like to hear the word "flip," as in the phrase "flipping properties." [??] Although Hayes knows that many of his franchisees do buy homes cheap for quick resale, he wants you to know his company is much more than that. "If they are using the words 'flip' or 'flipping' and they are our franchisees, we would not be happy about that," says Hayes. "We don't use the f-word." [??] While most people don't know the corporate name, HomeVestors, they do know the company because of its ubiquitous marketing campaign under the slogan "We Buy Ugly Houses." [??] HomeVestors is a franchise organization, and the people who buy its franchises do so to invest in real estate. Specifically, the company trains and supports franchisees for the purposes of buying, renovating and selling real estate. While anyone can buy property for investment purposes, just as anyone can open a restaurant ...
See the full content of this document
Sponsored links
