I am thrilled to welcome Laura Petree to the blog! Laura moved to Bluffton, SC in December of 2011, knowing no one. Faith landed her in this beautiful place and she met her husband and business partner Don in May of 2012. Laura and Don are very much alike in their drive and ambition, but they each have a unique skill set. Laura has a sales and small business management background, while Don has a hands on, problem solving background.
Laura and Don started talking about building a rental portfolio and this would be a great fit for their collective strengths. The pair stumbled around the real estate market with no success until they received an opportune phone call from Homevestors®.
Now, almost 2 years later, this dynamic duo has bought and sold 18 houses – and they are just getting started. Read on for insight into their business process and how they have found success with real estate investing. Laura, thank you for taking the time to join us for an Insider Interview!
When and how did you find HomeVestors®?
Actually, Homevestors® found me. Terry Dermerast found my resume on Career Builders and called to tell me about Homevestors in October of 2014. My husband, Don, and I were a bit skeptical, so we really did our research. Luckily, HomeVestors® was very helpful and transparent in our search to understand the opportunity. We called several current and retired franchises for firsthand information about the company.
The consistency of the answers and the real life experience of franchisees assured us that we were being told the truth about HVA. We bought our HomeVestors® business in March of 2015. Shortly after, in April of 2015, we traveled to Dallas for our training. We bought and sold our first house in June of 2015. The support and help we had from our Development Agents was a life saver.
What element of HomeVestors® “sold you” on becoming a franchisee?
As novice real estate investors, the fail proof system that HomeVestors® uses and teaches gave us the confidence we needed. We knew that by working hard and sticking to the HVA system, we could do this.
Which real estate investing strategy (wholesale, rehab, rental) do you enjoy the most?
With my husband’s building and fixing skills and my experience in many aspects of home improvement, we love to rehab houses. We take great pride in turning ugly houses into beautiful homes on a tight budget. Our understanding of which improvements yield the greatest ROI and which don’t is a great help. HomeVestors® teaches us to be balanced on our strategy. To achieve this balance, we complete a few rehabs a year, several wholesales for cash flow, and a few rentals for long term income. It is working very well for us.
How does it help you reach your business goals?
Our love of rehabbing would get us into great trouble without the counseling of our Development Agents to build our buyers list and WHOLESALE, WHOLESALE, WHOLESALE in order to maintain a steady cash flow. The HomeVestors® system really does work!
What is the greatest challenge you have faced as a franchisee and how did you overcome it?
My impatience is my greatest challenge. I want to know everything yesterday. The national conventions and regional training events are vital to keeping us on track. Talking in person to a variety of people at various stages in their business several times a years keeps the “head trash” and negative thinking to a minimum.
Can you explain your experience with the coaching and mentoring you receive from HomeVestors®?
Yes, this has been extremely helpful. There are a variety of ways to get the answers to your questions. We have an online KNOWLEDGE BASE that is searchable. We can find in depth answers to most any question 24/7. Our Development Agents are available by phone or by text 7 days a week. Their willingness to help and their constant positive, real life insight is amazingly valuable.
There are also several Facebook pages that we can use to pose our questions to the other franchises across the nation…for example we recently asked, “what is the best way to handle a buckled concrete driveway?” The company website is also full of every bit of information you can imagine.
What is your favorite thing about the Savannah and Hilton Head real estate markets?
Savannah is FULL of ugly houses. It is a great pleasure to know we are cleaning up neighborhoods one house at a time. It is always amazing to see how when you clean up the one ugly house on a street, the neighbors jump into action to clean up their curb appeal too.
How does your local real estate market influence your business strategy?
As a woman doing all the buy calls, I am very aware of staying in the “bulls eye” neighborhoods. There are several parts of Savannah where it is just not safe for me to go to for buy calls. The HomeVestors® strategy of staying in the right places with the greatest ROI has keep us on target and much more profitable.
If you could give one piece of advice to a novice real estate investor, what would it be?
FOLLOW THE SYSTEM and follow the advice from your advisors. It works when you work it.
Hungry for more? Browse my other Insider Interviews for even more inspiration, real life examples, and advice.
Want to speak to me directly? Call me today at 828-989-3785 to discuss your HomeVestors® real estate investment franchise opportunities. You can also follow along for my favorite real estate investment resources and insider tips:
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