New Western acquires Big State Home Buyers to expand investment pipeline

New Western, a real estate investment marketplace and the nation’s largest homebuyer, has acquired Big State Home Buyers — a company specializing in sourcing vacant and distressed homes.

The acquisition is intended to expand New Western’s supply pipeline and advance its mission to return underutilized properties to the market as affordable, move-in-ready homes, leaders said.

Based in Houston, Big State Home Buyers has sourced more than 10,000 home opportunities in the past 24 months using data analytics and advanced media skills to locate vacant and distressed homes throughout Texas.

New Western said combined efforts could generate up to 8,200 additional investment opportunities annually once the companies are fully integrated.

“There are more than 15 million vacant homes in the U.S., and we’re putting our best efforts toward organizing the services that can support their revival,” said Kurt Carlton, co-founder and president of New Western. “This acquisition is another step in that direction, and we’re actively pursuing additional opportunities that complement our ecosystem and accelerate the mission.”

Big State previously collaborated with New Western through an independent sourcing agreement — a model used with many local partners.

The success of that relationship ultimately led to the acquisition, according to the companies.

“We built Big State to help homeowners unlock the value in their homes — value others overlook,” said Brian Spitz, founder and president of Big State Home Buyers. “Joining New Western plugs our sourcing expertise and operating rigor into the nation’s largest investor marketplace, allowing us to offer our specialized services to homeowners throughout the country.”

Spitz will join New Western as vice president of seller experience.