HomeVestors of America
HomeVestors of America, Inc. is a privately owned, nationwide US real estate investing franchisor. It is independently owned and operated franchisees buy homes in need of repair and homes that owners need to sell more quickly than usually can be done through a realtor. Franchisees usually renovate and sell or rent the homes. The company operates in 45 states with over 1000 franchises and growing. The firm is headquartered in Dallas, Texas. Currently David Hicks is CEO and President of HomeVestors. History Real estate agent Ken D'Angelo founded HomeVestors of America in 1996 and began franchising that same year. By the end of that year, it had 17 franchisees and generated about $800,000 in revenue. It also sold its 25,000th house, in Jonesboro, GA. Franchisees hold the homes for six months on average. 1997 In 1997, HomeVestors reached 30 franchises with $1.7 million in revenue. 2003 By 2003, HomeVestors had grown to 135 offices in 17 states. In February 2004, the company signed an agreement with The Home Depot, making the hardware company its official provider of building materials. 2004 In July 2004, the company launched a real estate-owned (REO) program. HomeVestors purchased single-family houses from its franchisees and called