There are several ways you can build wealth through real estate – investing, flipping houses, holding rentals, and residential property management. The challenge is knowing what option best suits your goals with respect to the money you can invest and the type of work-life balance you want to achieve.

HomeVestors® is the largest house-buying franchise in the U.S. Since 1996, we’ve worked with people looking to gain financial independence through real estate. Our franchise owners can choose whether to flip, hold rentals, or do both. Let’s look at property management and other options you may be considering.

What is Residential Property Management

Managing residential properties is one way to build a business in the real estate market. When an investor or private owner has a property available for rent, someone needs to manage the building and communicate with the tenants. Some of the work that property managers do includes:

• Meeting with potential tenants, screening and managing lease agreements
• Conducting property tours
• Assisting with tenant move-ins and move-outs
• Performing routine inspections of the property, performing maintenance and making repairs
• Collecting rent, handling evictions and being an emergency contact for the tenants
• Administration of landlord expenses and income

It’s easy to see why investors need people to manage properties, especially if they have multiple units in their portfolio.

Become the Property Owner

If you want to build more wealth than you can by providing residential property management services, you can do that by becoming the property owner. HomeVestors is a house-flipping franchise, but franchise owners can also choose to purchase a property to use as a rental. They are the property owner and the property manager.

When you own a property, you have an asset that can build equity. When you rent that property, you earn income while building equity. Combining both roles gives you the best wealth-building opportunity.

Another important aspect to consider is that when you own the property, you decide your future. When you manage a property for someone else, they can choose to end your services at any time, so they control your future (and your income.)

The House-Flipping Business

When you become a franchise owner with HomeVestors®, you access a proven system of finding, purchasing and renovating properties.

You don’t have to be a licensed real estate agent to buy or sell the property if you choose not to hold it as a rental unit. When it comes to renovating, you can do certain things on your own and contract out the services you need. The HomeVestors proprietary applications help manage these costs and plan renovations accordingly.

There is plenty of information out there on real estate investing for beginners, but there’s not as much info on creating a business that can be viable and sustainable. That’s where HomeVestors can make the difference in helping you reach your real estate and wealth-building goals.

HomeVestors® Training Preview

Here are some of the things included in your HomeVestors franchisee training:

• Technology: Proprietary software to help you estimate how much you should pay for a house, and customer relationship management software to help you manage your business.
• Financing: Lenders who understand the house-flipping business and can provide accessible financing for qualified purchases so you can capitalize on opportunities.
• Marketing: Marketing campaigns to help sellers find you.
•  Low overhead: You can run your business from home, or choose to have an external location and build a larger portfolio of business.
• Network: With about 1,000 other franchise owners, you have an instant network of peers.

If you want to break into the real estate market but you’re unsure where to start, connect with HomeVestors first. We can share with you why people chose HomeVestors (and why they didn’t), and can help you decide how you want to build your business.

Request HomeVestors Details

Complete our online form and a member of our franchise development team will reach out to you for a more in-depth conversation.