FLIP THIS HOUSE! - $12.5 million a year

Brothers make $12.5 million buying & selling 148 homes in just one year.

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With the ring of a bell, Harvest Properties, in Tucson, Arizona, has sold another house. A franchise of HomeVestors of America®, the company that is known nationally for their “We Buy Ugly Houses®” slogan, owners Colin and Rob Reilly celebrate every house sold by ringing a bell in their office. And in 2005, the bell rang an impressive 142 times—the most out of all of the other 250 HomeVestors franchisees. Bell ringing is one way that the Reilly brothers keep the tone of the office upbeat.
Harvest Properties has become a multi-million-dollar real estate powerhouse in just three years. In 2003, brothers and Tucson natives Colin and Rob Reilly started Harvest Properties in a 700-square-foot warehouse space with one employee. Now, they have more than tripled office space and their number of employees. In 2005, they reported revenue of $12.5 million and bought 142 houses, making them Home-Vestors’ top franchisee for closings. Nationally, HomeVestors franchisees bought 6,510 homes in 2005.
At the 2005 HomeVestors national convention, Harvest Properties took home top honors for First Place Most Sales for the number of houses that they sold; First Place Most Closings based on the number of houses bought during the year; Second Place Most Contracts for the number of contracts presented on houses; and Second Place Best Customer for being the franchisee that profited HomeVestors the most.
“We are unconventional in many ways,” describes Colin. “We view each deal as a puzzle to be solved. While other investors might say ‘no,’ we look for creative ways to meet our sellers’ needs,” said Reilly.
Harvest Properties attributes much of its success to its team. “Our office is highly energetic with incentives for all the staff when we accomplish our goals,” explains Colin. “We have a policy that we are always hiring. Building the best team is our paramount objective. We are constantly on the lookout for the best people to recruit, oftentimes without fully realizing what role they will play until they are on the team,” he explained.
Before buying a HomeVestors franchise, Colin and Rob had partnered for several business ventures, but they did not have experience investing in real estate. Their sister recommended that the brothers look into HomeVestors. As a resident of Lubbock, Texas, a west-Texas city where HomeVestors has made a big impact, she had seen the company’s billboards and its famous slogan.
HomeVestors’s founder, the late Ken D’Angelo, invented the company’s memorable “We Buy Ugly Houses” phrase, and much of HomeVestors’ familiarity with consumers can be attributed to the motto. D’Angelo took the “ugly house” theme a step further when he introduced the company’s mascot, Ug the caveman, who is treated as somewhat of a celebrity when he makes appearances at HomeVestors’ events. It’s a fun promotion.
“You have to have a sense of humor in this business,” said John Hayes, HomeVestors president and CEO. “Ug and ‘ugly houses’ has resonated with consumers and helped make HomeVestors a household brand. But we would not have reached our level of success if there were not honest people and a quality business behind the name.”
HomeVestors was founded on the principle that D’Angelo’s system for investing in real estate could be applied in markets across the U.S., and Colin and Rob Reilly have found this to be true in Tucson.
“The HomeVestors franchise system is a tremendous platform to gain knowledge, build confidence, and grow your business,” says Colin. “I like being part of a winning team with national credibility,” he said. See the sidebar for contact info.

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