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Franchising House Flipping

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  • Description

    David Hicks, Homevestors co-president, on house flipping, and how he turned the idea into a franchise.

  • Duration 2:48
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-- what else what -- it has been a dirty word since the financial crisis but the business some buying I want to homes and fix them up a profit making a big -- David Texas co president of -- investor.

Didn't -- -- franchising this business want to get the idea get a franchise the idea of home flipping which is normally.

One person five people getting -- together and flipping some homes why make this a business -- Although I Cheryl thank you for have a -- and yes it has been a business we hope investors have been do in this -- since 1996.

We have over 270 franchise now in -- hundred markets.

And it is very.

Can be very lucrative but -- very fun business right now.

What -- they pay you so -- -- a franchisee and say Arizona drive pay -- a certain fee for yet teach me.

How to -- -- home do you give me materials to give me to give me alone what -- like.

Yes all of that fact we help our franchise learned how to do it.

We also have a provide all the advertising for them we provide financing for them to -- house is if they wish to do that.

Okay and ongoing support how much -- -- -- and how much is that our franchise.

Will -- -- the we have a couple levels they did in approval is 121000 dollars.

In many cases that -- lower than what made his -- try to charge without.

You well but but but that I need to come up with -- financing myself -- -- no matter what I I wanna be part of your your network of franchisees I actually got to go -- And I've got to make sure that I've got the capital backing to do it right.

That's correct but we also will loan you the money to buy the house.

And to fix it up and repair.

Are these franchises are they one person is -- five people get together a group of ten what what do you have happening.

The sum of all that most of our franchise and probably the biggest move -- not.

Or people that are of corporate refugees that -- are tired of that.

That.

Corporate world and they see the real opportunity.

In the real estate market right now.

Where are the opportunities what states -- the hottest right now for -- -- or not there all over the they've what we need for a good market is a stable market.

And right now the markets have stabilized -- most of the country.

And I -- -- -- than others aren't as it look like Florida Arizona Nevada.

And he.

Actually those markets and dropped the most probably plans.

Georgia Florida Arizona.

Those the ones we see the most opportunity right now.

David -- well it certainly again it was a dirty word five years ago but now it seems to be -- thank you very much appreciate your time.

Thank you.

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