DALLAS - Oct. 1, 2013 // PRNewswire // - Back before "house flipping" had its own TV shows and was a household expression, there was HomeVestors. Seventeen years ago this month, HomeVestors of America, Inc., known as the "We Buy Ugly Houses" ® company, began franchise operations. Today, the company has over 393 franchisees in over 100 markets in the United States, making it the largest buyer of residential real estate in the country.
"We actually do not like the term 'house flipping.' There's nothing 'flip' about our business - HomeVestors takes real estate investing seriously," said David Hicks, HomeVestors co-president. "Our 17 years of experience can attest to that. And the future looks robust. The company's growth in both new franchisees, houses purchased and homes renovated and sold by the franchisees has accelerated over the past few years with this year looking to be a company-best."
Founded in 1996 by Ken D'Angelo, HomeVestors® franchisees have purchased more than 50,000 homes through all type of market conditions. During the past two years, the company has more than doubled its number of franchisees and still continues its strong growth, despite increased competition from private equity firms buying up homes to rent.
"What makes HomeVestors unique is that we are a nationwide network of local business owners," said Ken Channell, HomeVestors co-president. "Our independently owned and operated franchisees live and work in the local community where they buy, rehab, hold and sell residential real estate."
And because of this localization of the company's franchisees, HomeVestors places a strong emphasis on community.
"Revitalizing communities and neighborhoods is probably the most satisfying aspect of HomeVestors," said Hicks. "We are able to help restore severely distressed properties into beautiful homes that people can be proud to own, helping to create a stronger community."
Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each community. In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review's "Top 50 Franchises," a distinction awarded to franchisors with the highest level of franchisee satisfaction. For more information, visit www.HomeVestors.com.
SOURCE HomeVestors of America Inc.