If you’re looking to own your own business in 2006, real estate rehabilitation may be the best home for your money.
According to the National Realtors Association, almost one-fourth of all homes purchased in 2004 were acquired as investment properties. And home remodeling continues to be a $130 billion business.
As the price for single-family homes continues to rise, the demand for affordable housing in existing neighborhoods throughout the U.S. remains constant. So, bull market or bear market, this real estate sector is one hot property.
While fixer-uppers sell for 24 percent less than other properties, a little remodeling know-how can turn those same properties into the envy of the community. In addition, helping people out of ugly situations is just as important as transforming ugly houses. From a messy divorce to an inherited old home, from neglectful renters to fighting foreclosure, from the loss of a job to a quick relocation, the business of selling a home quickly is in big demand. As a result, a national company that pays cash for houses at a discount and doesn’t require customers to address open houses, remodeling headaches or long closings has found a successful niche.
With more than 250 franchise locations across the United States, HomeVestors has put the power of a national brand in front of the hottest trend in real estate-the rehabbing of ugly houses into beautiful and affordable real estate. The result is a business that can benefit the business owner as well as the neighborhood. As the fastest-growing company in the industry, HomeVestors franchisees bought more than 6,000 homes in 2005.