Investor Profile

Brian and Dana hardy

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From Success in Marketing and Interior Design to Success in Real Estate As relatively new independent business owners with HomeVestors® of America, Inc., Brian and Dana Hardy have much to look forward to if their very first sales call is any indication of future success. The Hardy’s currently live in Fort Myers, Florida, but bought their HomeVestors franchise based on the recommendation of a friend in Oregon, while still living in Portland, Maine. The year was 2021. Soon thereafter, the Hardy’s made the decision to relocate to sunny Florida. Success Before HomeVestors A life-long entrepreneur, Brian, 40, started his first design and marketing company at the age of 18 in Fort Lauderdale, Florida. Among the businesses that he has successfully owned and operated are a trade show exhibit house, a full-service sign company and a fully-automated printing company. Brian then created FizzPop Media, a marketing agency and web development company that he still runs today, whose niches are the building and bio-tech industries. Dana, also 40, dabbled in interior design while working a normal 9-5 job, before getting involved in real estate. She studied interior design and photography at Drexel University and apprenticed under an accomplished interior designer. She later branched off into the graphics and design industry. “Those experiences combined, helped give me the confidence to venture out on my own to get clients and to also do the design work for our fix-and-flip real estate business,” explained Dana. Tiring of the nine-to-five routine, she gravitated toward real estate full-time, hoping to use her background to stand out from her peers. While in Maine, she was a Real Estate Broker. Off to a Good Start The Hardy’s bought their first franchise in Portland, Maine, before transferring the franchise to Florida. Their skill sets came in handy and proved to be very complementary to each other. Dana manages the real estate side of Tree City Properties LLC, including valuations, title, and design while Brian focuses on acquisitions and oversees the various contractors. However, when necessary, they still get their hands dirty and do some of the rehabs themselves. Already experienced as real estate investors doing fix-and-flips, they got off to a fast start, buying their very first house from their very first phone call. This first sale made the Hardy’s firm believers in the HomeVestors system. As Brian explained, “Do not prejudge any calls, go on every call, and get in as many living rooms as you can.” Sage advice for anyone new to real estate. His other advice, offered as a lifelong entrepreneur: “Don’t be afraid to take risks and don’t overthink everything.” Brian and Dana ended 2021 with five acquisitions. As Dana explained and Brian agreed, “From day one, we stuck to the HomeVestors formula. We followed the HVA systems, advertising, and marketing strategies… which was tough, considering we own a marketing agency. Their systems work.” Moving Forward The Hardy’s have their sights on two new goals: vacation rentals and spending more marketing and advertising dollars in Florida to acquire ten properties per year. And, doing all this while still running a successful media company. 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.

Business Analyst to Business Owner

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Finding a New Passion and Success in Real Estate Adom Rosengarten enjoyed a lucrative career as a corporate executive in the world of finance before becoming a HomeVestors® of America, Inc. independent business owner in March 2018. Armed with an undergraduate degree in Math and Economics from the State University of New York–Geneseo in 1999, Rosengarten began his career working in consulting before attending the University of North Carolina–Chapel Hill where he earned his MBA in Finance. At UNC, he also met his future wife, Megan, who was studying Marketing. Upon graduation and after a one-year stint with IBM, Rosengarten’s corporate career began to accelerate. For twelve years, he worked at Standard & Poor Ratings (S&P) beginning as an analyst of financial institutions and later managing other analysts of the leisure and hospitality industries. Rosengarten then moved into the Public Finance Group division of S&P. While at S&P, Rosengarten was in a position, due to his access to insider information, where he was not allowed to actively invest in the stock market without a great deal of scrutiny. He and his wife were interested in increasing their passive income, so they decided to invest in real estate instead. The Beginning of a Career in Real Estate They bought their first investment property in 2009, one they still own and collect rent on today. Due to this initial success, Rosengarten decided to buy more investment properties each time he received an annual bonus. Now, getting very serious about becoming an entrepreneur, Rosengarten began the research and due diligence on buying a franchise. According to Rosengarten, “I learned a lot about franchises during my time at S&P. Established franchises have the benefit of name recognition and solid procedures and systems already in place.” During his research he discovered HomeVestors. The Beginnings Rosengarten bought his HomeVestors franchise in March of 2018, attracted by, in part, the strong funding relationships available to assist with the buying and rehabbing of investment properties. His company, Hedgerow Properties LLC, focuses on the Lower Hudson Valley Region, which encompasses four counties in New York and two in Connecticut. The first year started off slowly but then the business began to grow significantly. He bought his first property against the advice of his Development Agent (DA) and lost money but learned from the experience. Rosengarten has benefitted from the HomeVestors system, his mentors, and his coaches — in his second year, 2019, he bought five times as many homes than he did in 2018. The Present Situation and Market Rosengarten experienced exponential growth in 2020 and 2021 and forecasts 2022 as being just as productive. In 2018 and 2019, Hedgerow Properties focused primarily on fix-and-flips. Today, the focus is on wholesaling and “wholetailing,” a mix of wholesale and retail. “The regulatory requirements in New York and Connecticut are complex and help to create some barriers to entry for competition,” explained Rosengarten. “Additionally, it takes a lot of capital to enter and be successful in these markets. However, it’s worth it to weather those challenges because you can make more money per deal.” Rosengarten currently has three employees — a coordinator, buyer and project manager. Says Rosengarten, “As the business has grown, having a strong team has been crucial to our success. I rely on my team, and I could not do business without them.” “You have the opportunity to be the light at the end of the tunnel for people in a dark part of their lives, or just ready to move on to a new beginning. It truly has been one of the most rewarding experiences of my life to be able to help with that transition.” 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.

A Father and Son Partnership

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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.

Keeping an Open Mind

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How a Serial Entrepreneur Became a Real Estate Success A successful entrepreneur with deep experience in start-ups, as well as in executive and financial management, Derek Cook has always been open to new business opportunities. His various ventures have included mortgage lending, restaurants, automobiles, and even the ATM industry. But his most recent successes involve those in the real estate investment industry. A native Floridian, Cook got his first taste of real estate in Arizona while working in finance at Bank One (now JPMorgan Chase). Then he went to work for a mortgage broker before forming his own successful mortgage company. It was there that he had a revelation. “I was giving away so many leads to real estate agents that I decided to get my own real estate license and keep the leads myself,” Cook explained. So, he got his license in 2002 and began his real estate career first in retail then migrating to fix-and-flips. After years of being on his own and with auctions becoming increasingly difficult, a friend recommended that he investigate buying a HomeVestors franchise. At that time, Arizona was a closed market, which meant that you had to buy an existing franchise and not one from Corporate. Cook found a franchise for sale, as did Donald Juvan. Both men wanted the same franchise, so instead of bidding against each other, they became business partners. They bought the Arizona franchise in October 2015 and began focusing on the fix-and-flip niche of the industry. From the very beginning (and still to this day), Cook and Juvan enjoy the relationship, expertise and responsiveness of their Development Agent, Michael Ludlow, and Ryan Chenoweth. Both new independent business owners also took maximum advantage of the HomeVestors marketing system and the HomeVestors CRM. Cook explained, “HomeVestors has such an incredible reach, we would have been foolish not to take full advantage of that. And, we love having a national brand behind us.” Due to both Cook’s and Juvan’s previous business successes, they never needed to borrow money from outside sources to acquire properties. And owning a small lending business helped as well. The partners’ company, Cook Enterprises, buys investment properties throughout Arizona, including Tucson, Flagstaff, Maricopa, San Tan Valley, and of course the Greater Phoenix Area. In 2021, Cook bought another franchise in New Mexico and Juvan owns an additional franchise in Northern Arizona. Describing the Arizona real estate market, Cook explained that inflation and rising mortgage rates are affecting their business. “In March 2022, Phoenix had 4,000 houses on the market; today there are 16,000 houses. And they are on market for a longer period of time. However, iBuyers are canceling contracts left-and-right and leaving sellers high and dry. We are getting a lot of that business and simultaneously helping these people who have been left in an ‘ugly’ situation. HomeVestors gives me the additional tools to help people in these dire situations.” Overall, business is good for Cook Enterprises – they have a staff of transaction coordinators, three acquisition agents, and a construction crew on the payroll for the property rehabs. Cook’s daughter, Clara, just graduated from high school and has expressed an interest in the family real estate business. The Cook family lives in beautiful Gilbert, Arizona. Derek is married to Maren, and they have three children – Clara, Clay, and Janie. 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.

Having an Impact

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When “Nothing But The Best” in Life Will Do When David Offutt describes his experience in real estate, it immediately becomes clear that the two-decades-plus veteran of the industry is not just experiencing a great deal of success; he is having a great deal of fun. “I love what I do,” he explained. “I know that every day I’m going to find an opportunity where I am going to impact someone or they are going to impact me. I love that.” Offutt got started in real estate in the early 2000s after spotting what he hoped would be a great piece of investment property and being flabbergasted at the price tag. He jumped into the industry with both feet, taking his real estate exam, getting his broker’s license, and buying two real estate franchises all within about two years of that initial encounter. Shortly after the housing crash, Offutt found HomeVestors and has been with the company ever since. “It has been an amazing journey in the real estate space,” he said. A Family Operation One of the things Offutt likes best about real estate is it enables him to spend plenty of quality time with his family — especially his wife, Detra, who is a top-performing agent and partner with him in the family’s HomeVestors business. “She helps me with everything; beginning to end she is the best partner I could ever ask for,” Offutt said. The two have been serial entrepreneurs throughout the duration of their relationship. However, Offutt said, “[Homevestors] is the last one. We won’t do any more from this point forward — just own real estate and run the franchise.” Offutt’s son, Devante, recently joined the Offutt real estate team as a property coordinator. “I’m thrilled for him and my wife,” Offutt said, noting that he expects a change in the housing market in the near future. “[At present], we are putting ourselves in a better cash position, strengthening our relationships with local lenders, and building our relationships in the community.” Devante will play a key role in that process, Offutt said. Nothing But the Best When it comes to doing and being the best, Offutt applies that mentality to his real estate portfolio just as he has to his personal and professional life. This means that when he acquires properties as long-term investments, they must be what he describes as “‘A’ properties in ‘A’ locations.” In almost all cases, he prefers small multifamily properties ranging from four to six units. Offutt’s class-A-only approach to his long-term investments does not preclude the short-term acquisition of other promising pieces of real estate. Anything less than “prime” is relegated to the cash-flow division of the business. Offutt also cultivates relationships within the local HomeVestors community, where he is an enthusiastic participant in a variety of networking and educational programs. Making An Impact Every Day Offutt also loves the positive impact real estate investors have on individuals and on the communities in which they operate. “So many of the people we meet are in distressed situations,” he said, recalling a deal with a senior homeowner hoping to sell her extremely “cluttered” home. Offutt bought the house and assisted with the homeowner’s transition to a new home. Then, after the renovation, he invited her back. She was thrilled. Offutt makes it a policy to involve the former homeowner and any nearby neighbors in the investing process whenever possible, believing that this helps build community. “Often the folks we work with are in distressed situations, and that means the neighbors are usually kind of stressed, too,” he explained. “We introduce ourselves, let them know what we are doing, and then we address the exterior of the home first thing so that everyone can benefit.” 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.

Following a Calling

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When A New Business Opportunity Called, Ross Herman Went All In Ross Herman, the proud owner of a HomeVestors® franchise based in Minneapolis/St. Paul, started out in business as a public accountant. However, he always knew he would use that expertise to chase bigger dreams. “I went the CPA route in order to see different businesses, operations, and management styles,” Herman said. “I always wanted to do my own thing, and used the accounting skills to watch for my next opportunity.” Herman’s first opportunity came in the form of a startup food-service business that he successfully founded and later sold to a partner before heading back into accounting. He did not remain there long; HomeVestors appeared and was far too perfect a fit to resist. The Beginning Herman had a background in and affinity for real estate, albeit not residential property, thanks to his family’s ownership and management of commercial assets. “I had grown up seeing my grandfather and father invest in and manage neighborhood retail shopping centers, so I always knew I would be intrigued by an opportunity to build an investment portfolio,” Herman said. He opted to build an investment portfolio of single-family homes when he joined up with HomeVestors in 2002. “I had always wanted to invest in single-family, and I immediately enjoyed spending time building, improving properties, providing opportunities for myself and my family, and providing opportunities for other families — whether they were buying or renting — to have a good place to call home,” Herman said. Although the early 2000s were tough for many real estate investors due to the heat of the pre-2008 market, Herman benefitted from HomeVestors systems, which began generating leads for his new business and enabled him to use HomeVestors financing for acquisitions. “That was absolutely critical at that time, and new franchisees should always follow the systems that are laid out because they work,” Herman said. “When the markets change in unexpected ways [as they did in 2008 and again in 2020], following the system is what will ensure you survive those changes.” Building Stability for Family & Community When Herman first started out with HomeVestors, he focused mainly on buying, rehabbing, and reselling homes. “Business was good,” he recalled. He also began acquiring rental properties and began to build up his own real estate portfolio. “When the market crashed, it was extremely challenging,” he said, adding that joining up with his present-day investment partner and mentor helped him refine his strategy and increase focus on improving systems and processes while acquiring more single-family rentals. Herman said the best advice he could give new HomeVestors franchise owners is to stick with the systems in place for their success. “Do not deviate. Focus on buying homes, and be consistent,” he said. “Be conscious of cash flow. Remember, if you turn your marketing on and off, you will miss opportunities to generate cash flow.” He concluded, “There will always be real estate cycles and there will always be changes in real estate, but housing is housing, and everyone needs a place to call home. I see a strong future in this franchise, and I am excited to continue to follow the systems, revitalize houses, and create homes.” Homevestors What exactly does it mean to be aHomeVestors® 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.