6 Steps to Overcoming Real Estate Investment Analysis Paralysis

Posted by Chris Clothier on Thu, May 19, 2016

Is overanalyzing killing your real estate investment business?

There’s nothing wrong with trying to be careful. Believe us, we believe in looking at the numbers, carefully weighing the data, and making good, evidence-based decisions. It’s only smart to go in objectively.

That said, there’s a little something called analysis paralysis that can psyche out the best of us. It can cause you to lose out on deals, delay good decisions, and miss out on great opportunities. As they say: you miss 100% of the shots you never take.

Analysis Paralysis is Real

This phenomenon plagues decisionmakers in just about every field. It was psychologist Barry Schwartz who coined the phrase “paradox of choice,” in describing his findings that though increased choice objectively allows us to achieve better results, it also greatly increases our anxiety, dissatisfaction, indecision, and mental paralysis.

More information and unlimited access to that information (thank you, Internet), while empowering, means that instead of just being empowered to make better, more informed choices, we’re also more afraid of making the wrong choices.

That fear keeps holding us back.

We’re spinning our wheels.

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Topics: analysis paralysis

REI Voice Features Memphis Invest in Latest Issue for Real Estate Investors

Posted by Chris Clothier on Wed, May 18, 2016

Quality Counts: How the Clothier Men Took Over the Investment World, One Good Transaction at a Time

By Hannah Ash (To read the original story in it's entirety in the Spring 2016 issue of REI Voice, please click here. )

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Topics: Memphis Invest, REI Voice

8 Compelling Reasons to Choose Turnkey Real Estate for Passive Income

Posted by Chris Clothier on Tue, May 17, 2016

The world of investment is huge. The world of real estate investment is huge. If you want to earn passive income, you have a thousand options. If you want to invest in real estate, you also have a thousand options.

So why, when you have an endless sea of opportunities ahead of you, would you pick turnkey real estate investment?

We’ll be upfront: turnkey real estate investment isn’t for everyone. It’s not what every investor is looking for! You might be enthralled with flipping houses. Your method of investing might be your full-time job. You might like being hands-on.

But if you’re looking for passive income, we would argue that turnkey real estate is the best method investing you can choose. Yes, we’re absolutely biased. That said, there are compelling reasons for why we believe so strongly in turnkey real estate and why we’re in this business in the first place.

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Topics: turnkey real estate

5 Organization Tips for the Overwhelmed Real Estate Investor

Posted by Chris Clothier on Mon, May 16, 2016

Investing in real estate can get overwhelming from time-to-time, even for those of us who choose passive investments. There’s still a lot to keep up with: income, expenses, taxes, leads, contacts, research, books, notes...it can all get out of hand if you’re not careful!

Even for those of us who take pride in organization, all of that information can be daunting. We have IRAs and retirement plans and bank accounts and CPAs and this form and that form and where did you put that file, and why can’t you find that one piece of paper that you need?

Organization is an art that many need and few master. Hopefully, these tips will help you sharpen your organization skills and gain just a little bit of the control you want and need over your investments.

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Topics: organization

[Video] The Authentic Customer Service Experience for Real Estate Investors at Memphis Invest

Posted by Chris Clothier on Fri, May 13, 2016

Customer Service...an often used phrase, some say over-used, by companies that want to set themselves apart from their competition.  For Memphis Invest, our mission has always been to provide the best possible experience for everyone that comes into contact with our company.

For us, it is more than just the experience of our clients.  The Customer service experience extends all the way to our tenants.  It extends all the way to our vendors and even to our team.  Everyone is a "client" if they come into contat with our company and their experience matters to us.

From the very beginning, Memphis Invest understood that our reputation meant everything.  It would be built daily on the service each of those four groups received from us.  OUr goal was to build the best systems, team, training and program.  We knew, as we do today, that no company in our industry approached the customer service experience the way we did.  

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Topics: customer service, real estate videos

3 Areas of Turnkey Real Estate Investing That Should Be Hands On

Posted by Chris Clothier on Wed, May 11, 2016

Investing in real estate should mean that you’re earning passive income. You’re not breaking your back to get your paycheck—granted, some investors like to get more involved: flippers, wholesalers, even landlords. But we’d argue that these are really jobs, investments of time as much as they are investments of money.

They take up a lot of time. Full-time job amounts of a lot of time. For the investor looking to earn passive income, however, you know that you can be passive. Turnkey real estate investing, for example, offers an avenue where you don’t have to be involved in the daily details of your investments.

The best Turnkey companies, well - let me be more frank here and say that Memphis Invest is one of only two companies that do this - will have a fully dedicated team to support investors with timely updates on their portfolios.  Those updates are important in keeping that investment as passive as possible. 

Real estate investing does not have to be hard and it does not have to be time consuming, but much of what makes it passive is that team.  If you've picked the right team, then they will make you feel comfortable with the passive nature of this investment and help you understand a key point.

Even the most passive real estate investments take some work.

Turnkey real estate is about as passive as passive gets. But if you want to be successful in turnkey real estate, there are some thing you still have to do. There are some places you’re going to have to get in there and get your hands dirty.

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Topics: turnkey real estate

15 Quality Twitter Feeds for Real Estate Investors to Follow

Posted by Chris Clothier on Thu, May 5, 2016

Twitter is still one of the top social media platform out there, alongside the likes of Facebook, Youtube, and Instagram. Twitter hasn’t had to do much to mix things up over the year. They’re still using 140 characters for users to deliver punchy, quick messages—messages that have sparked movements, delivered news, and created a culture of conversation.

For those that invest in real estate, Twitter can be a valuable tool for connecting with other real estate professionals. Whether you’re following for advice, news, or looking to strike up a good rapport, Twitter is a great way to do it.

That said, it can be hard to find good people to follow on Twitter if you don’t know where to look.  But never fear—we’re here to help you out!

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Topics: Social Media

Conquering 6 Real Estate Investment Money Myths

Posted by Chris Clothier on Tue, May 3, 2016

Misconceptions in the world of real estate investment are all-too easy to come by.

Some are generated by what we think seems like common sense—it just seems logical, so we don’t stop to think about how it really is—or it comes from years of misinformation being passed around. Whatever the reason, myths have caused many an investor to make big mistakes in the biz.

It’s also stopped some folks from getting started at all!

One of the biggest barriers to getting started in real estate investment is money. Money is, for many of us, a big motivator for getting involved in investing in the first place. We’re dreaming of leaving our desk jobs for financial freedom, or trying to build up a strong retirement and secure a financial future for our children.

For whatever reason, money tends to play an important role. So there’s no surprise that there are quite a few misconceptions about money’s role in investing. We’re here to address a few:

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Topics: money management

More Positives for the Memphis Real Estate and Business Markets...

Posted by Chris Clothier on Mon, May 2, 2016

We have been discussing the positives to the Memphis market as a whole for many years now.  The position of the market is constantly changing based on announcements from new employers, on new projects and new incentives for growing firms in the Memphis area.  

All of these developments weigh on the success of the Memphis housing market as well.  When jobs are growing; when companies are expanding; when there are new opportunities being created in the city, the positives from these types of developments spill over onto the housing market.

The city itself and the surrounding areas grow from a migration of new residents.  Job growth pushes down the unemployment rate.  Job growth helps drive up demand for housing on both the owner-occupied side and the renter side of the equation.  With greater demand comes appreciation, especially in more stable and desirable areas, as well as a rise in rents.

Both developments are great for long-term real estate investing.

Now comes word from Wambrodt Hotel Investments that they are high on the Memphis market and are looking at several hotel projects in the city of Memphis.  This is a big development because Memphis is sorely lacking in this area.  We need more hotel rooms and more updates to existing infrastructure.  

With several hundred rooms under construction or slated for construction in the downtown area, Memphis will be in the position to host future and larger events.  With that construction comes jobs during all phases including after they are complete.  Those jobs are big!  

Here is the newsletter from Herb Wombrodt highlighting why they are excited about Memphis!

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Topics: Memphis real estate

5 Benefits of Leaving Your Properties to A+ Property Management

Posted by Chris Clothier on Wed, Apr 27, 2016

New investors are usually concerned with keeping costs down. They want to see their profit margins go up and really...who can blame them? They got into real estate investment with hopes of making some money on the side, and the best strategy seems like it’s to spring for cheaper properties and keep costs low. Maybe they even decide they can landlord it themselves.

After all, do they even really need a property manager? What’s so hard about it?

And then, a few months in, they realize they’re losing their mind trying to do it all, nothing’s going like they wanted it to, and they aren’t even seeing the profits they want (or need), and it sure as heck isn’t passive income. What happened?

For starters, there’s an old adage that seems to always hold true for real estate, even if investors don’t always see it at first.

You have to spend money to make money.

It’s not called investing for no reason. You have to put something in before you can really get something out of it.

Ah, but wait; our new investor was putting something in, wasn’t he? A lot of time, sweat, and tears trying to landlord his property, and he wasn’t getting any return on his investment! What gives?

Here’s the thing: landlording and property management aren’t for everyone. They’re separate job descriptions that owning a property doesn’t qualify you for. Can you learn? Absolutely! But they’re not jobs that everyone needs or wants to do. It’s hard work that for you, as an owner and investor trying to build up your passive income portfolio, can distract you from the big picture.

Dear Real Estate Investors: Stop losing your mind trying to do it all!

You may think you’re saving money by not hiring a property management team. But trust us. A good team is worth the investment and more!

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Topics: property management