Memphis Invest was in Dallas, TX. on November 20th and found a room full of investors ready to take action! After announcing that Memphis Invest and Fortune Builders would be in Dallas for a one-day event at the Embassy Suites in Grapevine, the room quickly filled up with 72 investors confirming their seats and getting ready to learn about Memphis real estate investing.
Having talked to hundreds of investors each year at Memphis Invest, I have stopped being surprised by the different reasons investors list for purchasing investment property. Often times, the criteria that investors use to determine a"good deal" are as varied as the colors in a box of crayons. As a seasoned investor, I can tell you with atuthority, that if I had to choose one measure for an investment deal it would be its cash on cash return.
Buying Discount properties in Memphis, Tennessee or any other city for that matter can be a tricky propostion. Being a new investor makes it even tougher. Memphis Invest has spent a lot of time building relationships with clients but we have not always done a good enough job of putting out educational talks and material. After selling over 800 homes in the last 5 years and investing in over 100 oursleves, you would think we might know a thing or two about the pitfalls of real estate investing.
As a Memphis real estate investor, I try to devour as many books, magazines, articles and blogs on real estate as possible without getting over-whelmed. Every once in a while I will find myself going back to the bookshelf and pulling down a real estate investment book and re-discovering something that lit a fire under me in the past. This weekend, I found Frank McKinney's book "Make It Big!".
This is a re-print from a post I made over a year ago. I think its always good for Memphis real estate invetors to get a refresher on the questions they should ask before buying investment properties.