Aug. 1, 2007 Edition

Guarding Against Identity Theft

Steps you can take to protect your privacy By Brian Kraft In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, change service providers for your cell phone, or apply for a credit card. In each transaction, you reveal bits of personal information, like your bank and credit card account numbers; your income; your Social Security Number (SSN); or your name, address, and phone numbers -- a goldmine of information for an identity thief. Once a thief has that information, it can be used without your knowledge to commit fraud or theft. Identity theft is a serious crime. People whose identities have been stolen have to spend time and money cleaning up the mess the thieves have made of their good name and credit record. They may lose out on job opportunities, and loans for education, housing, or cars. They may even get arrested for crimes they didn't commit. Can you prevent an identity theft? As with any crime, you cannot completely control whether you will become a victim. But according to the Federal Trade Commission (FTC), the nation's consumer protection agency, you can minimize your risk by managing your personal information cautiously. Here are a few ideas and action items that can help you protect yourself: For helpful hints, brochures, and videos, visit the Federal Trade Commission's Web site on indentity theft. Obtain a free annual credit report for you and your spouse. Place your home and/or cell phones on the National Do Not Call list for five years or forever (888.382.1222). Place your home and/or cell phones on the Texas Do Not Call list for three years (866.896.6225). We all receive unsolicited mailings (credit cards, etc.). Many identity thieves will steal your discarded mailings (if not shredded) from your trash and set up false accounts. To stop unsolicited mailings, call 888.5.OPTOUT (888.567.8688). . . . Brian D. Kraft is an Assistant Vice President and Wealth Management Advisor with Merrill Lynch at their Dallas Galleria office.

30,000 Houses And Counting

Innovative Asset Solutions hits HVA milestone By Monica Feid Eric Fales of Innovative Asset Solutions He's not a pens-and-plaques kind of guy. But when Eric Fales, owner of Innovative Asset Solutions in Richmond, VA, heard that his franchise had purchased the 30,000th house in the HVA network, it was hard not to be a little excited. The milestone came compliments of an Internet lead. And it was an ugly situation for the sellers that Fales was happy to solve. Located in Petersburg, VA, the 1956 brick ranch-style home was in no shape to be put on the market. With a mostly finished basement, the four-bedroom, two-bath home was pushing 3,000 square feet. But the attractive size was overshadowed by the ugly oak tree that dominated the front yard, the funky smell from leaky pipes, the rotted wood, and the damaged drywall.  A thorough cleaning, some professional repairs, fresh paint, and landscaping could overcome major obstacles. "It wasn't that big of an eyesore," says Fales. "But when I studied the house like I knew a home inspector would, I could see that it needed some work." Unfortunately, the homeowners were in no financial position to tackle it themselves. At various times, the home had almost gone into foreclosure. Now in a forbearance plan, the sellers had been missing payments and flirting with danger again. Then the family was faced with relocating to northern Virginia on a tight deadline for a new job.  In need of a solution for their ugly situation, they searched the Internet and found HVA. And when buyer Chad McKinney went on the call, he found a home that showed potential.    "The numbers made sense at the time," Fales says. And the owners had an additional half-acre lot to sell that lessened the load of their debts on the house. Plus, while the house was a little bigger than the properties that Fales traditionally buys, the neighborhood was right for the investment. "Petersburg is one of the lowest income cities in the state of Virginia," explains Fales. "But it is next door to Fort Lee, which will soon be home to more than 3,000 soldiers and their families."  With the influx of troops come the contractors supporting the military, and a big demand for housing. That has made places like Petersburg a hotbed of activity for real estate investors. Fales paid $139,000 for the property and is hoping to sell it for $235,000. Based on his list of repairs, he plans to have the home ready for market by the end of July. "For a single-family house, [right now] it's not the kind of home that a family is going to say, 'hey, let's jump on that,'" Fales says about the fixer-upper. But it's what the house can become that makes his business worthwhile.  A former RE/MAX agent, Fales opened his HVA franchise 2½ years ago. He rehabs 50% of his buys and wholesales the rest, minus 5-10 houses each year that he adds to a rental portfolio. And while the distinction of having purchased the network's 30,000th house is a nice feather in his cap, Fales says it's the daily activities of his business, such as helping customers and building his team, that give him the greatest sense of satisfaction.  "If I can make the business grow and make people money and keep everyone happy, that's more of what I'm searching for," says Fales. . . . Monica Feid of BizCom Associates handles public relations services for HomeVestors and its franchisees.

Creating The Perfect Balance

Why you need all four personality colors in your business By Ken Channell Ken Channell Understanding the four personality types as defined in the Four Strengths Personality Profile can assist you in attracting the people you need to build a successful HomeVestors business. It is the attraction and development of the right people for the right positions that will help you run your business effectively and efficiently, in both the short and the long term. The Red personality is the doer. Because of their sense of urgency, focus, practicality, task orientation, and ability to maintain their direction, Reds are the people who produce. If you want something done, give it to a Red. Their ability to produce is essential to the effectiveness of any organization. They have great ability to find houses and to buy them in such a way that they end up the winner. They are always focused on the next opportunity to win. Their contribution is necessary, but not sufficient for the long-term effectiveness of an organization. Long-term effectiveness requires the contribution of the Blues. Because of their innovation, ability to solve problems, and creativity in finding alternatives, they provide the ideas and plans that the Reds need in order to be effective in the long run. The power of franchising is that the franchisor is able to provide Blue for the franchisees. Classic entrepreneurs are both Red and Blue, and therefore have a natural tendency to innovate and create in whatever they do. This is why the early months of a franchise can be very difficult for an entrepreneur -- when results are not happening fast enough, they want to create a new program. Blues need to discipline themselves to focus their innovation on the implementation of the system and not the re-creation of the system. Of all the colors, they struggle most with reinventing-the-wheel syndrome. Green personalities bring organization and administration, which make your business run more efficiently. Effectiveness produces revenue, while efficiency reduces cost. Together, these two qualities produce the most successful and profitable businesses. Because of their ability to control, cautious nature, attention to detail, ability to monitor and create systems, and tendencies toward structure and follow-up, Greens bring efficiency to the organization. It is a short-term efficiency, however, because they are more concerned with controlling what happens to them than with what happens to the organization. While the Green's systems and organization are necessary, they are not sufficient for creating long-term efficiency. They are much better at telling how you are doing than they are at getting the rest of the team to pull together and implement the systems they have developed. That is why we need Yellows. The Yellows develop long-term efficiency by integrating the systems of the Greens with the rest of the team. Because of their desire to be part of a team, Yellows work at getting people with opposing positions to work together. Yellows can communicate the value of team work, they are flexible and adaptable, which lets them meet people where they are, and they can organize and coordinate the strengths of their teammates so that the whole team works better together. Over time, they will foster long-term efficiency within the organization because of their ability to bring the team together under the company's Vision, Mission, and Values. A well-balanced organization will recruit and develop all four personality types in order to create optimum effectiveness and efficiency. Organizations that focus on this objective and commit to its realization will be more successful than those that ignore this approach. Most HomeVestors franchisees have the Red covered, but need to recruit Green and Yellow to make sure that they are balanced. Fortunately, they can depend on their franchisor to provide the Blue. This is one of the qualities that makes HomeVestors such a unique opportunity. It's an ideal fit for high Reds who are looking for systems to implement. . . . Ken Channell is VP of Team Development and stands ready to assist you with utilizing the Four Strengths Personality Profile as you recruit team members for your franchise. You can contact Ken at 972.761.0046, ext. 163.

Seminars Win Big In Atlantic City

Record turnout for HVA Franchise Development seminars By Jason Killough Jason Killough The attendance at Franchise Development’s Atlantic City, NJ, seminars in mid-July was near record breaking. Three sessions lasting two hours each were hosted by HVA President & CEO John Hayes, who told the 40 franchise prospects in attendance how they could succeed as HomeVestors franchisees. While these were the first seminars we sponsored in Atlantic City, we've sponsored several previous seminars in New Jersey, New York, and other states, and have sold several franchises as a result. "The purpose of the seminars," says Hayes, "is to help prospects take the next step to buying a franchise. If we can get them to come to a Discovery Day in Dallas, we know they're serious and there's a very good chance they'll buy a franchise. At least three of the Atlantic City prospects said they'd see us in Dallas." The seminars will help us continue to build out the Philadelphia, New Jersey, and New York markets. SUBWAY®, Here We Come! By special invitation, the Franchise Development team will attend the 2007 Annual Convention of SUBWAY® Restaurants in Orlando, FL, August 2-4. Because many SUBWAY® franchisees are interested in expanding but cannot due to market restrictions, the restaurant giant thought the idea of purchasing a HomeVestors franchise might appeal to these exceptionally eager entrepreneurs. We hope so as well! Plus, we already have HomeVestors franchisees who own SUBWAY® franchises as well, so we know the combination works. Four New Franchisees Join Team HVA Since the last Franchise Development update in The Vestor’s Voice®, HomeVestors has welcomed the following new franchisees into our system: Joseph F. Galante, Newark, NJ; Denise Wedepohl, Phoenix, AZ; Jim Wiley in Newark, NJ; and Billy Lawton, Indianapolis, IN.  Earn Up To $45,000 For Your Referrals With the new cumulative bonus structure, current franchisees can now earn as much as $45,000 for referrals made through Dec. 31, 2007. Here's how it works: For the first new franchise referral from a current franchisee, HVA will pay a bonus of $10,000. For the second new franchisee referral, we'll pay $15,000. For the third new franchisee referral, we'll pay $20,000, resulting in a total cumulative bonus of $45,000!  To be a qualified referral, the prospect must have heard about the HVA franchise opportunity from the referring franchisee, and must be registered with the Franchise Development Department. If a lead's name and contact information already exist in HVA's sales database, the lead does not qualify for this program. This referral program does not include transfers of existing franchises. Franchise Development will continue to offer $2,500 in advertising credit for each transfer referred. For more information, or to register a referral, please contact Sherry Wallace at 972.619.0089. . . . Jason Killough is HVA's director of franchise development. You can reach him at 972.761.0046, ext. 187.