I looked at their website after seeing one of their billboards and they have like 100+ locations listed. They must be making bank but what exactly is their business model?
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I think most of the answers so far miss the point.
Yes, they are in the real estate “wholesaling” business, which is effectively just unlicensed real estate brokerage. Basically everything in the answers below regarding this bottom-feeding line of work is correct.
But “We Buy Ugly Houses” itself does not make its money that way. They sell franchises to wannabe “wholesalers.” That is why they have locations all over; they have sold franchises all over.
The franchise failure rate is extremely high. Basically the company appears to make its money by deceiving people into buying franchises of a business deceiving people into selling their homes at a disadvantage.
To the extent that they are stealing from thieves, you could almost say that they are on the side of the angels.
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