Memphis Invest has earned a reputation among our clients and even our peers as a company that truly understands how investors want to calculate REAL value. Too often, investors are fooled into thinking that the value of real estate is the price you pay for it. I cannot tell you how often investors contact us after having bought "great property" right here in Memphis from a company located in a state like California or Nevada and they are having trouble getting it renovated and occupied. Their idea of great is the cheap price they paid for it. The reality is a 900 square foot 4 room shack located in an area that very few want to visit, much less do renovation work and management.
Memphis Invest took a different approach and used the Warren Buffet approach with our clients - "Price is what you PAY; Value is what you GET"!
Here are some of the reasons buying with MemphisInvest.com is the truly the best VALUE for investors when compared to other companies here in Memphis and in other cities.
* Numbers reflected as of May 3rd
Premier Property Management
809 Properties managed for investors
41 Properties available for rent
2 Properties vacant longer than 90 days
1 Property vacant longer than 60 days
6 Properties vacant longer than 30 days
5.06% Vacancy rate!!!
Average rent $814
In the month of April, 44 properties were rented by Premier and of those, 38 properties were rented with 2 year leases and an auto-bump in rent the second year and 6 were rented on 18 month leases including additonal security deposit for the owner.
Memphis Invest Renovation Services
Year to Date - 86 completed renovations for MemphisInvest.com
Average cost per renovation - $14,971
Average days to complete renovation - 14.4
Number of days close to close - 33.71
Close to close means the number of days between MemphisInvest.com purchasing the property and the tenant signing the lease. LESS THAN 34 DAYS!
MemphisInvest.com Investor Relations
Closed 29 purchase contracts with Investors
Currently have 39 contracts for the month of May
Currently have 5 contracts for the month of June
Currently have 30 properties meeting our investors criteria
if you are asking, "why do all these numbers matter and how do they bring value to our clients"? And even if you're not asking :) I and going to lay it out. For a company to truly be on top of their game and provide the best value and service for their clients, knowing these numbers and having a system for accountability and transparency for clients is essential. These numbers reflect the performance of each clients portfolio and today we are responsible for the performance of 268 investor portfolios.
With Premier Property Management running at a 5% vacancy rate, we actually have rental agents complaining at how efficient the company has become! Even the 29 properties we added in April are moving quickly. By concentrating on a great system and hiring a great team, we reduce vacancies and time on the market and increase the return on investment. A vacant property is not an investment, it is an expense and we understand that effects value.
With the Renovation department, we have no problem with having the highest cost of renovations among companies in Memphis. We protect our clients long term investment by knocking down deferred maintenance and preparing their properties to rent quickly. We do not allow shoddy, half-ass (excuse the language) work to be done at our houses and if spending an extra $500 on the front end to make a house shine means it is rented in 14 days for $100 higher and a 24 month contract...then we are providing REAL value to our clients!
The investor relations department adds new investors to our group every month and the 29 closings in April is the second best month in our history! The 44 contracts outstanding represents the fact that our clients understand and are thrilled with the prospect of building long-term wealth with a high quality company instead of buying the cheapest houses they can find. We understand that our product and company are not for everyone - some investors simply will not understand the value of our company - and that is O.K. We'll just focus on those that do and provide them with the best investing experience possible!
Value is calculated by looking at the property, the services and the peace of mind you receive as an investor when you deal with the best customer service company in the business. Price is always part of the equation, but it is hard to put a price on stability, wealth building and peace of mind.