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Turnkey Real Estate Investing

1 min read

REI Nation Spent $3.1 Million In Redevelopment

By Chris Clothier on Wed, Oct 31, 2012

REI Nation, a single-family rental real estate investment services firm, sold 164 homes during the third quarter and spent $3.1 million with 58 local small businesses completing redevelopment of those properties. Those companies collectively employ approximately 250 workers.

The 164 homes represent a 166 percent increase from the third quarter of 2011 for the company, which was recently recognized on the Inc. 500/5000 list of Fastest Growing Companies in the U.S. Of the 164 properties sold in Q3, 127 had fully complete renovations by the end of the period.

High cost items contributed heavily to the $3.1 million spent redeveloping properties, with 42 percent of the properties receiving new roofs, 54 percent receiving new water heaters, 57 percent receiving new air conditioning units, and 47 percent receiving new furnaces. In addition, smaller cost items such as replacing flooring, interior and exterior repair and painting, and lawn beautification were also factors in Q3’s redevelopment costs.

REI Nation reported working with 527 individual real estate investors from 41 states and six countries as of the end of September. The company is managing 1,476 single-family homes in Memphis and Dallas with a market value of approximately $134 million. Dallas is the company’s newest market, having been opened under the brand Dallas Invest this past spring.

The company expects fourth quarter results to show more than $13 million in private redevelopment funds spent in Memphis, and an additional $1.2 million spent in redevelopment in the Dallas/Fort Worth Metroplex in 2012. 

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2 min read

Single-family Rental Houses Draw Millions Impacted By Foreclosure

By Chris Clothier on Fri, Oct 26, 2012

'Conscientious People' Coming Out of a Crisis

Many of these single-family renters are like Jacobs' tenants, whom, he said, are "fairly conscientious people that just went through a foreclosure crisis" and want to retain some semblance of homeownership.

People like Michael Williams, who lives in Memphis, Tenn. When he couldn't find enough work, he was forced to sell his home in a short sale in 2011 for $110,000 -- nearly $40,000 less than he owed on his mortgage. Now he lives in a single-family rental, which costs him $1,025 a month. He said that he feels "blessed" to still be able to reside in a home of his own close to his old neighborhood.

"I'm partial to a home," he said. "I have my own privacy, and [I also] have grandkids."

Williams rents from REI Nation, an "REO-to-rental company" that purchases homes in Dallas, Memphis and Phoenix and flips them to "mom-and-pop" investors. REO is real estate parlance for bank-owned properties.

"They're looking for stability and still have pride of ownership," said Chris Clothier, a partner with REI Nation, of its tenants.

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1 min read

Real Estate Investors Spend Octoberfest with Memphis Invest

By Chris Clothier on Thu, Oct 25, 2012

Memphis Invest Hosts Real Estate Investors

Real Estate investors from 16 states came to Memphis, Tennessee on October 19th and 20th to meet with one the U.S.A.'s premier real estate investment companies, MemphisInvest.com.  Eighty-Four investors spent Saturday with the company learning about Memphis and the opportunity for real estate investors followed by a quick tour of some completed renovations.  The jam-packed education was followed by a great night at the offices of Memphis Invest and Premier Property Management. 

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1 min read

Housing Crisis Turns Some Ex-Homeowners Into Lifelong Renters

By Chris Clothier on Thu, Oct 18, 2012

You couldn't pay Mark Williams to own a home again.

Topics: news in the news
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2 min read

Investing In Memphis Real Estate - The City & The Comeback!

By Chris Clothier on Sat, Oct 13, 2012

The most common question I get from interested real estate investors is "Why is Memphis a place I want to invest for the long-term?".  This week, Memphis Mayor A.C. Wharton, Jr. made the answer easy for our company...and every other Memphis company spreading the word about our great city. 

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1 min read

Real Estate Investors Plan To Purchase More Homes In U.S.

By Chris Clothier on Fri, Oct 12, 2012

Almost two-thirds of U.S. residential real estate investors plan to buy as many as or more homes in the next 12 months than they have in the past year even as prices rise, according to a survey released today.

About 39 percent of active property investors intend to step up their purchases, while 26 percent expect to buy the same number in the coming year, according to a survey conducted by ORC International, a Princeton, New Jersey-based research firm. About 30 percent of investors plan to reduce their purchases, the study showed. 

Rising rents are benefiting the 28.1 million U.S. residential real estate investors -- people who own property as landlords rather than as occupants -- Dorkin said. Demand for rentals has risen as people with damaged credit or lack of money for down payments stay out of the home buying market. 

This article was originally posted by John Gittlesohn at Bloomberg Businessweek.

Topics: news in the news
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3 min read

Real Estate Investing - Handcuffed by Lending Standards?

By Chris Clothier on Mon, Oct 8, 2012

Steve Cook published an article in The Niche Report, a magazine about real estate, mortgages and  financing, today that focuses on the dilemma faced by real estate investors who want to participate in the current market.  Too many investors are being shut out, or at the very least limited in their ability, from the opportunity of buying single-family homes.  

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4 min read

Premier Property Management - Memphis Rental Update

By Chris Clothier on Thu, Oct 4, 2012

Property Management Is The Key To A Great Rental Property Portfolio

We get asked many questions about rental property management ranging from how we set up our business to how we conduct the business.  Most are simply stunned by the numbers.  Some even specifically ask if we can work with property managers in other cities where they own properties.  Nothing would make us happier than to help with your portfolio in other cities, but the fact is, we run our Memphis property management company differently than traditional property management companies.  Our plan is to set-up and operate a management company in Dallas using the same successful techniques developed here in Memphis.

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