by Rick Griffin
La Mesa-based Renovation Realty, offering a one-stop-shop approach to residential real estate renovation and sales, has introduced franchising opportunities that are currently available in San Diego, Los Angeles, Orange, Riverside and San Bernardino counties. The aim through franchising is to provide a business model and operating environment that attracts the best people, rewards for performance, stimulates innovation and facilitates long-term revenue and growth, the company said.
Launched in September 2011, Renovation Realty is both a full-service residential renovation contractor and real estate brokerage. The company uses its own capital to renovate a property before placing it on the market for sale as the listing brokerage, with no out-of-pocket costs to a homeowner. The funds are secured by a promissory note and deed of trust, which are repaid at the close of escrow. The company said homeowners have seen up to 25 percent increases in values on properties located from rural areas to the beach and valued at $200,000 to more than $1 million. Over the past year, the company reports it has invested $2.7 million in renovating 51 properties in 33 different zip codes in San Diego County and recorded $21.1 million in sales.