Bugs can be found in crevices everywhere. It is in their nature to find a place that is overlooked to hunker down. MoneyBug, a cash-for-homes business based out of Texas, is hunkered down in the distressed home markets in California, Florida, Texas and Pennsylvania. MoneyBug was founded eight years ago by Kurt Carlton and was recently named one of the fastest growing middle-market companies in Texas. That growth did not happen quickly -- but Carlton is in it for the long haul. "I want to die owning this company," Carlton said. "We want to saturate every single market in the country and go to Canada and then go overseas with it." Carlton's original business model revolved around purchasing distressed homes and reselling them to investors, but as technology advanced by way of data and predictive analytics, so did MoneyBug. Carlton enlisted a full tech team to begin finding ways to make the cash sale of the distressed property easier on the seller. Something must ha...
- MoneyBug buys distressed homes as-is and pays cash so sellers can avoid real estate commissions.
- Associates will come to the property for free and submit an offer.
- Real estate agents can represent MoneyBug as a buying client and will earn 6 percent commission from the sale.