Homevestor has arrived in Tucson.
If you don't know of these folks check out.....
http://www.homevestors.com/sell.html
I'm not affiliated with them in any way. They just started papering the town. BIG billboards.
Serious competion!
Their in Kansas City too! I went up there last night and the billboards were everywhere!
Even though this is true I think that we, as private investors, add a little more of a personal touch to our services. I'm sure there are a lot of people out there who would rather deal with one person rather than a huge corporation.
Besides, even though they might be big...doesn't mean that you can't beat them to the punch.
I wouldn't let this hamper your activities in any way. You have more important things to worry about, like when your next prospect is going to call.
Hurray for the small guy!
Vic
[addsig]
Hey real,
I hear you, but don't under estimate the power of advertising.
I hope their billboards don't over shadow my bandit signs. ;-(
That sucks, Tucson already has enough serious competition. I wonder how many people bought into the franchise in Tucson? Oh well, full steam ahead..
Bginvestor
Tucson, AZ
I am in the valley myself and I seriously dont see this organization as a threat at all.
They had a full page spread in the paper last week and have received quite a bit of publicity.
The people to be concerned are those who are trying to get fixers only. The operation of homevestors is to make offers at NO MORE than 60% of retail value. They look for fixers and thats it.
I think the market is too competitive here for Homevestors to really succeed. I think they would do better in areas that arent tapped as much as this market is.
It actually gives investors like us a better chance and a better name..they get the lame schpeel from Homevestors with a low ball offer..an investor comes in with a better offer, that which Homevestor cant make, and they get the deal.
With a high priced franchise like this and the high fixed costs associated and profit % that are owed to the company by the franchisee makes their margins even worse.
I agree with others that if you make your contacts and provide better service and better figures, it doesnt matter who the competition is, you will get the property.
And if the market were so over-saturated then there wouldnt be over 200 NOD's going every single week here.
Just my thoughts.
How lucky can you guys and gals get.
Here you have this company helping you promote creative real estate investing and it costs you nothing.
Lets go back to the basics of marketing, Sears, Pennys, etc., all are located in the same shopping centers and malls. Competition begets TRAFFIC + SALES, you should be playing off of their presense in your market.
Better yet I bet you have an Automobile Row in your city. Why do you think all the different Auto Dealers build next to each other. There are plenty of deals to go around, just make sure you get your share.
What they are doing for you is verifying that creative real estate investing will help the home owner.
OK everyone is the glass half empty or half full?
For those of you who have a half empty glass too bad, but those of you that have a half full glass get ready to do deals, they are spending thousands to help you do it.
John $Cash$ Locke
Competition is a fact of life. Competition makes you work that much harder to deliver better service to your customers. I say, bring it on!
There you go again John--spreading hope and good cheer amongst the people on this board Life is truly just how you see it---abundance or scarcity.
Thanks so much,
Mel
If there are any of you out there who are working on deals OTHER than fixers... like Lease/Options, no-equity deals, etc.
It would make a lot of sense to try to network with people who have bought in to this franchise and pay them a finder's fee for their leads that they can't do anything with.
Make Lemonaid!
Emily
I agree . . . go with the flow.
Life's a beach.
Enjoy all the energy that's coming into this marketplace. The more that come, the more that will follow.
Maybe the standard RE agency will need to rethink how they operate as this millenium gains speed. With online sales, creative RE and national programs like this Homevester we will continue to see change.
The one constant is change. Focus on a specialty and try to be the very best you can.
That --- and a little hard work --- can buy most of us a ticket to the ballpark.
Take advantage of Homevestors...go to their website and look at homes that they have to sell!! They often list the homes needing rehab at non-repaired prices. They will get their cut, but they may still wholesale a house at 70-75% retail.
Just a thought...they've entered my market in S. Florida recently too!
They are a franchise. If you think they are doing so well then maybe the old adage "if you can't beat them join them is true"?
I & my pharmacist wife needed 5 years off (from traffic) and moved from a large city to a small town of 3000. There were 127 contractors licensed there.
I became the #1 remodel contractor in 3 years garnering 80% of the business.
Set a goal, work towards it, Persist in it!
[addsig]
I just checked out thier franchise fee, a measely $139k-$229K (DO market)( gulp! THis is before you have generated a dollar!