Real Estate, Developer, Fireman, Pizza
In Order to Succeed You Must Have a Great Team
Frankie Herrera is an independent business owner with HomeVestors® of America, Inc. in Tampa, Florida. He started his HomeVestors business in 2014 with his wife, Vanessa, and cousin, Albert. As successful as his real estate business is, he still works as a developer, is a fireman, and owns a Little Caesars fast food franchise. His recipe for success: a phenomenal team.
Life Before HomeVestors
Frankie has a B.A. in Finance from the University of South Florida which he earned in 2007. He started his professional career with a development company as a project manager, and then in 2009, while still with the development company, joined Hillsborough County Fire Rescue.
In 2009, he began his venture into real estate. Frankie worked with a banker who was willing to give him a chance. He bought his first two rental properties and then realized that he did not just want to be a landlord, so he sold both properties to figure out his next steps.
Partners Associated In Development (PAID) by Herrera
“I stumbled across HomeVestors at a franchise trade show. Vanessa and I did our due diligence on the company, called my cousin, Albert, presented him with the opportunity, and we bought our franchise in 2014,” Frankie explained. “I needed a franchise that had proven systems in place that I could trust, and HomeVestors met that requirement. We started our training in August of 2014 and immediately fell in love with it.” In the short period between August and December of 2014, PAID by Herrera bought seven houses.
“We bought our first house almost immediately. It felt great to help someone, but then panic set in until we sold it to an investor,” Frankie reminisced. “It was at that point that I realized ‘One man’s trash is another man’s treasure.’”
Frankie’s wife, Vanessa, a graduate of Saint Leo University and an Accountant, joined the company full time in 2015.
Present Day
The company buys an average 40 houses per year and to date has bought over 300 houses. “We focus on fix-and-flips, but we also have a rental portfolio of 30 doors; we tend to keep five houses per year in our rental portfolio,” Frankie said.
Frankie, without hesitation, attributes the company’s success to his phenomenal team. “Keep in mind, I still work as a developer, I’m still a fireman, and we recently bought a Little Caesars franchise. I have a team that makes everything possible.” That team includes his partner and wife, Vanessa, who handles the accounting; Albert, “The Face,” who handles acquisitions; Sandra, “The Closer,” who is responsible for all day-to-day communications with the sellers and title companies; Chris is in charge of project management; and Michael handles sales. And of course, Frankie, who is the CEO, is responsible for operations. Frankie is also a Development Agent (DA) for Florida.
As a team, before doing any deal, they always ask themselves, “If we do this deal, are we going to be able to put our head on the pillow and sleep peacefully tonight?” Frankie elaborated, “There will always be people out there who need help with their homes and getting out of undesirable situations. Our job is to sit down with them, listen, and try to help them. People first — closing the deal is second.”
Advice from an Expert
“I used to have a problem in constantly over-analyzing deals. Once I put trust in comparables and systems, my business changed for the better,” said Frankie. “Additionally, I would give the following advice to anyone getting started in real estate investing”:
• Pay attention and listen.
• Trust the process.
• Pound the pavement.
• Start by hitting singles and home runs will follow.
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.
