A Father and Son Partnership
How the Mayhews Became a Real Estate Success Story
Richard and Nathan Mayhew are a father-and-son team in the real estate investment industry. As partners in the Virginia-based Maycor Real Estate Services, LLC, they own and operate one of the most successful HomeVestors® franchises in the country, focusing primarily on the Richmond and Norfolk Metropolitan Statistical Areas.
Richard had a very successful career in the mortgage and commercial banking industry prior to becoming a lucrative real estate investor. He worked as an executive officer and director of a public company and owned his own mortgage company. His career path took a detour when he was approached by one of his banking customers (and friend) to buy his Richmond Homevestors franchise due to a decision to retire. Richard bought the franchise in 2006 at the ripe young age of 56.
For 13 years, Nathan also had a very successful career as the owner of a high-end design and remodeling company primarily focusing on kitchen and bath renovations. Then came the “Great Recession” of 2008 which caused him to shut down operations and let go of his 15 employees. Not one to sit idle, he then formed a property preservation company which he eventually sold to join forces with his father in 2014.
The Father-Son Partnership
Together, Richard and Nathan have built a strong and respected real estate investment company focusing primarily on fix-and-flips, but also active in wholesaling and buy-and-hold properties. While Richard manages the lending and accounting side of the business, Nathan jokingly quipped, “I do everything else,” before adding that he focuses on acquisitions and dispositions. The partnership has worked so well that they bought another franchise in Norfolk, VA in 2022.
In addition, Richard and Nathan are also the Development Agents (DA) for Virginia, West Virginia, Maryland, and Delaware. Nathan also served as the President of the Richmond Advertising Council for two years. In their roles as DA, Richard and Nathan coach and mentor other franchisees about the local markets and how best to utilize the various programs and business systems that HomeVestors provides. As a mentor, Richard’s advice to new business owners is, “Work the Model…The Model Works.” When Richard first became a HomeVestors independent business owner in 2006, there was not a formal DA program in place, so he had to rely on corporate staff for assistance.
The Business Model
The Mayhew team has always stayed true to the HomeVestors systems, fully taking advantage of the advertising, financing, and training programs made available to them.
Today, the Mayhew team enjoys the lifestyle their business provides and the fact that HomeVestors lets them totally control their business and destinies. They also consider themselves, first and foremost, problem solvers. As Nathan explains, “We really help people get out of their ‘ugly’ situations. We are provided the tools to do just that, and we do it on a personal level and not by sitting in front of a computer screen making ‘instant’ offers.”
Regarding the current real estate market, father and son agree that they can do well in any market and economy by being flexible and adjusting their strategies accordingly.
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 855-454-4518, email Sales@homevestorsfranchise.com or visit www.homevestorsfranchise.com. Each franchise office is independently owned and operated.
