A Family Partnership
How the Wileys and McKennas Joined Forces for Success
Jim and Jeanne Wiley were introduced to the HomeVestors® franchise opportunity back in 2004 after seeing “We Buy Ugly Houses®” billboards along the highways in Texas while traveling to visit Jeanne’s sister and her husband, Robin and Bill McKenna.
Once back in New Jersey, the Wileys began to research franchise opportunities with HomeVestors. Tired of working in the corporate world, Jim in digital printing and traveling overseas for 20+ years and Jeanne as a product manager with Seiko, they decided to make the leap into becoming real estate entrepreneurs. With no real estate experience, they were confident that their backgrounds, coupled with the training and support provided by HomeVestors, would serve as a solid foundation for success.
Jim and Jeanne Wiley
The Beginnings
Shortly after buying a HomeVestors franchise in New Jersey in 2007, Robin, Jeanne Wiley’s sister, and Bill McKenna joined Wiley Properties.
Like the Wileys, the McKennas were tired of the “corporate life.” Bill had a very successful career in the aerospace industry and Robin worked as a commercial lender. “I was constantly traveling for work and I wanted the ability to be home and spend time with my family,” Bill said.
The four partners soon learned the ropes and capitalized on one another’s strengths to grow their business. As a result, since the inception of their partnership, Wiley Properties has sold more than 300 properties in one of the country’s most expensive real estate markets. However, it was not always easy as the recession of 2008 was right around the corner. “We quickly learned cashflow is king, which is a big adjustment coming from a corporate job. We modified our business model to do more assignments and wholesales to generate cashflow,” Bill explained. As time went on, Wiley Properties began to invest in rental properties and entered the lending business.
Bill and Robin McKenna
Teamwork and Collaboration
In 2010, the Wiley Properties team became Development Agents, supporting and mentoring other franchisees in the northeast. In 2017, they teamed up with two other Development Agents in the southeast and formed the Cornerstone Group which coaches investors along the East Coast. With over 175 franchisees under their mentorship, the Cornerstone Group is the largest Development Agent in the HomeVestors system.
“We not only attract and bring franchisees on board, but we train and coach them on how to use the extensive tools and systems provided by HomeVestors and all aspects of their HomeVestors business,” Jim Wiley said. “We provide ongoing training and support to our franchisees over the life of their business.”
What Does the Future Hold
“When COVID hit, we were concerned that the market would react like it did in 2008/2009, and for most of our markets, it had the opposite effect,” Bill McKenna said. The exodus of people leaving New York City created a boom for surrounding markets. Prices quickly increased in the suburbs while prices decreased in New York City. In fact, although Wiley Properties has sold slightly fewer units this year, their overall revenue is up significantly.
“Our enthusiasm for the HomeVestors business remains the same today as it was when we first started,” Jim Wiley said. “We have been able to earn a great living, spend quality time with our families, and create long-term wealth that our families will enjoy for years to come. And most importantly, we are able to help sellers out of ugly situations with their house.”
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 855-454-4578. Each franchise office is independently owned and operated.
