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Home Again . . . and Again

Buy homes, fix 'em, sell 'em: How these franchisees make money

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This story appears in the November 2001 issue of Entrepreneur. Subscribe »

"We were both looking for a niche in the home-buying business and wanted a service business that would grow and be profitable," says Jared Bernstein, 27, of the criteria that led him and cousin Alan Washer to become HomeVestors of America franchisees. Their franchise, which opened in 1999, buys, refurbishes and sells homes.

"We provide sellers an opportunity to sell their properties in as-is condition quickly," explains Washer, 37, a former installation manager. After they purchase a property, the partners subcontract all home improvement work-from repairing the foundation to hanging drapes-before selling to buyers financed by HomeVestors.

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