The Full Story
When Mark Bloom co-founded NetWorth Realty back in 2008, he knew what he wanted to do and was confident that his plan was a winner. However, he admits that he didn’t have specific expectations. It was basically making sure rent was covered this month and seeing what happens next month.
What happened over the ensuing 12 years was a two-office, Texas-based operation that expanded to 20 offices across the nation. Bloom himself has been featured on countless media outlets as an expert on real estate investing.
“There’s never just one thing that leads to success,” he says. “I think the way that we operate for investor buyers is much better than the general market. We are serving them at a level that is appreciated and needed.”
Today NetWorth Realty is one of the largest outlets for single-family and multi-family investment proprieties. The firm specializes in purchasing properties for resale or rental and selling them to an investor base. With these transactions also comes extensive information to help investors do a lot of their due diligence.
“We try to make it as easy of a one-stop shop as possible for your investor,” he says.
The company was born during the depths of the 2008 economic downturn. Bloom and his business partner had worked for a company that went under. They knew they were good at going out and sourcing properties and finding deals for buyers, and figured there was great potential with their business plan.
According to Bloom, single-family and multi-family properties are safer investments than many alternatives. They typically yield higher returns with fewer risks. However, the fact of the matter is that many people simply don’t have the time to learn all the ins and outs required to succeed in this field. NetWorth has made its mark by acting as a middleman, providing a service for which there is a strong demand.
He says that creating a working environment where people can excel and enjoy their work has also been key to success. Bloom is proud of the recognition NetWorth has received for its culture and the opportunities provided for its associates.
Bloom came to the Dallas area from Florida. As the real estate market in the Sunshine State began showing some troubling signs, he and his wife began researching places that had a more stable market and were not experiencing rapid depreciation. North Texas fits the bill.
“It was kind of a no-brainer. It really fit us well,” he says. “The people were amazing, the business culture was amazing, and the opportunities in the real estate market at the time were tremendous. And here we are 14 years later.”
During the first five to seven years of NetWorth, Bloom worked hard to achieve many of his personal business goals. Now his focus has shifted more to help his team members achieve theirs.
As for the future, he plans to continue expanding NetWorth, though the growth model may change. His primary focus will remain to buy and sell properties. He will also look to take advantage of some of the secondary and tertiary businesses like lending, title, and insurance.