Sami Abdallah
Gaining the Respect of the Motor City
Sami Abdallah bought his first fix and flip house in Detroit while still a senior in high school. With the brief exception of “dabbling” in the business side of the music industry, Detroit real estate has always been his passion. And he has never looked back!
Today, 35-year-old Abdallah is the president of Temple Homes in Detroit, Michigan. He estimates that he and his partner, Freddy Antar, who oversees field services, have an economic impact of ten-million dollars every year on the Detroit metro area. “Real estate investors do not get the respect we deserve after everything we do for our communities,” he proudly noted. “We help people, we pay delinquent property taxes on the homes we buy, we get water and electricity turned back on, we spend six-figures every month at home improvement stores, we employ people, the list goes on and on.” Instead, real estate professionals in the state of Michigan (and the city of Detroit) were deemed non-essential during the COVID pandemic.
Abdallah has been successfully buying and renovating property to rent or sell in the Detroit metro area as an independently owned and operated HomeVestors® franchisee since 2012. Prior to that, he was an investor and REO Broker, completing thousands of transactions with HUD and Fannie Mae when foreclosure inventory was high. However, in 2011, he saw the writing on the wall and realized the market was changing. He also realized his business model was no longer sustainable. According to Abdallah, “I knew how to sell, I knew the funding side, but I did not know how to get into people’s living rooms to discuss buying their homes at a discounted price.”
The HomeVestors Advantage
“Then I met UG, the iconic caveman mascot for the HomeVestors brand, and I immediately knew this is what I needed and wanted,” said Abdallah.
“HomeVestors gave me instant credibility, they had a great marketing program, a proven system, and national brand awareness. I didn’t need to create processes or worry about advertising.”
He added, “being a part of HomeVestors, each day is a new opportunity. It is super fulfilling — in each transaction we help people and take care of our families at the same time. I can absolutely look at myself in the mirror everyday and sleep good at night.”
The Detroit market is strong. It is very affordable and has a low cost of living. According to Abdallah, Detroit is as strong as the surrounding suburbs.
“The primary force driving the resurgence of the city’s economy and its revitalization overall is the large concentration of new corporations moving in and bringing good-paying jobs with them. This then increases the demand for housing which, in turn, boosts median home sales prices.”
Consequently, this allows Abdallah and Antar, to do a little bit of everything, from buying historical properties, fix and flips, and buy and holds. They even do wholesaling.
A Local and National Leader
Abdallah is also the Development Agent (DA) in Detroit, president of the Advertising Council, and Chairman of the Franchise Advisory Council for HomeVestors. In his role as DA, he coaches other franchisees about the local market and how to approach and work with sellers. He also enforces the strict HomeVestors ethical standards of which he is immensely proud.
Being a part of HomeVestors also allows Abdallah to spend quality time with his wife, Jenna, and nine-year old daughter, Layal (which is translated “Beautiful Night”), and one-year old son, Hassan.
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.
