From Successful Attorney to Real Estate Entrepreneur
Find a Mentor and Get to Work Chandra Quaye is an independent business owner with HomeVestors® of America, Inc. in the Fayetteville, North Carolina, market. She started her HomeVestors business, Red Letter LLC, in 2017 after 16 years in the corporate world, both as an attorney and as a senior executive. Life Before HomeVestors Chandra graduated from Cornell University in 1998 and Duke Law School in 2001. She practiced law for nearly 10 years before transitioning into higher education—starting out as a faculty member at a private university—quickly advancing to Dean, Associate Provost, and finally Senior Vice Provost for Student Affairs and Academic Services. In 2017, Chandra realized she needed a change. “I hit a growth ceiling at my job and that killed my passion. Plus, it required a lot of travel that took me away from my kids. I wanted challenging, fulfilling work with unlimited growth potential. I also wanted to build generational wealth instead of having a set annual salary,” explained Chandra. Becoming a HomeVestors Independent Business Owner “I researched the HomeVestors opportunity years earlier but, I didn’t fully understand the possibilities,” said Chandra. “I initially started a property management firm as my venture into real estate. One of my property management clients was a HomeVestors business owner. Seeing his deals made me look at the opportunity more seriously.” Chandra bought her HomeVestors franchise without any real estate investing experience. Being a novice, she followed the HomeVestors program from day one and took advantage of everything the program had to offer. Her primary focus was on building a rental portfolio while also doing some fix-and-flips. “December, 2017 was my first month of operation. I got my first house under contract that same month. By the end of 2018, I had bought 15 homes,’ said Chandra. “I’ve increased each year except 2021 when I bought 14. In 2023, I bought 28 homes.” Chandra said that her initial goal was to have a 100-home rental portfolio, but that goal has quickly expanded. “The Fayetteville rental market is hot and home prices keep rising,” she added. “My philosophy is to rent for appreciation and equity rather than only cash flow.” Chandra explained that her work helps neighborhoods by removing dilapidation from the area, and it also helps prospective homebuyers and tenants by adding freshly restored homes to market inventory. She also proudly stated that she very much enjoys helping people who are in difficult and “ugly” situations. Chandra’s Crystal Ball When asked what 2024 has in store for her business, Chandra was very optimistic. “Home prices should continue to grow because more millennials are getting involved, inflation is tampering down, and interest rates are stabilizing. Meanwhile, housing supply remains extremely low. I only see upside in my business and my plan is to keep growing my rental portfolio.” While HomeVestors is still Chandra’s primary focus, she also started Quaye Law Firm, PLLC which helps other franchisees and investors with their real estate transactions, including contract review, title examination and document preparation. “HomeVestors is a family. We are not competitors,” Chandra said. “Everybody works together. The best decision I ever made was buying a HomeVestors franchise.” Advice from an Expert • Buy a HomeVestors franchise. • Leverage mentors and resources. • Hold yourself accountable to clear goals for your business. Homevestors What exactly does it mean to be a HomeVestors® business owner? Owning a real estate business is life changing and naturally comes with risks! When you become a HomeVestors business owner, you get immediate access to motivated seller leads, financing resources for qualifying purchases and repairs, one-on-one coaching with your local Development Agent, proprietary software for analyzing properties and deals, and access to a nationwide network of coaches and peers. Your house-buying business is yours and you run it as your own venture with a focus toward your individual business goals. If you are interested in a franchise, call 866-249-6932, email Sales@homevestorsfranchise.com or visit www.homevestorsfranchise.com. Each franchise office is independently owned and operated.
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