Investing in real estate can very easily become a full-time job. As we’ve talked about before, a truly “hands off” investor is a myth. Real estate investment is a business and a job — and what you put into it is often what you get out of it. Investors have to follow up on leads, check in with their staff, keep up with real estate news and statistics, create strategies, deal with banks and agents and contractors…
In cities across the United States, particularly in large real estate markets, rent prices have been skyrocketing. We have seen rent increases in many areas of Memphis as well as Dallas and Houston, although rents have not been rising like they have in some large cities across the country. Many rents are also rising in multi-unit complexes which are seeking to add more and more attractive amenities, but are not shy about raising the rent at the same time.
While many markets are recovering from the recession (some slower than others), the demand for rental units — whether single-family properties or apartments — is still very, very high and shows no signs of slowing down. Whether its residual fear of foreclosure or shifts in our goals and needs in residence, renting is popular.
Investing in real estate may be something you’ve been considering for awhile now. It’s something you think you’d really like to do, but you still haven’t quite committed to jumping into real estate investment. Maybe you are still in the learning phase and realize there are a lot of questons you need to be asking before moving forward.
Part of that still, perhaps, is that you aren’t asking yourself enough questions (or the right questions).
If investing in real estate is just a theoretical idea of saving retirement money or building reliable passive income, take that dream to the next level. Instead of daydreaming about all the benefits of real estate investment, it’s time to knuckle down and make your decision.
Your security later in life - the security of your investments - relies on your getting answers to serious questions now and surrounding yourself with a great TEAM before moving forward. What better way to vet a great team than to get the answer you need and make sure you are pointed in the right direction as a real estate investor.
The Dallas-Fort Worth area of the Lone Star state is in the running as one of the best real estate markets in the country for 2015. Dallas-Fort Worth, along with sister cities Houston and Austin, were highlighted in the Emerging Trends in Real Estate report by the Urban Land Institute and PriceWaterhouseCoopers for their strong real estate fundamentals that set investors up for an excellent year.
We love Dallas as a company. And....many of you may not know that all three of the Clothier bothers were born in the DFW metro-plex and spent many of our early years in the area. We still have family, friends and business associates there so Dallas was a natural market for our company to grow into. And speaking of growth...
As investors, we always need to keep pace with the markets we have our hands in and have our eyes peeled for what’s growing. Memphis Invest grew into the Dallas, TX market going on three years ago and that market has really taken off. Today we have an incredible team at Dallas Invest, which is simply a satellite office. A brand name if you will offering the same quality as Memphis and developing the same standards and culture as Memphis and the market is really responding well.
Lat year, we turned our eyes toward Houston, Texas as demand for more property from our clients continued to grow. We wanted to offer choice. But not just any choice...
We wanted to specialize in great markets and as we grew beyond Memphis and Dallas, Houston was at the top of our list. It’s pretty easy to see that Houston is dominating the real estate market. It’s competitive, fast and in high demand all around. Investors are turning their eyes to many Texas cities to grow their portfolio, including Dallas-Fort Worth and Austin, but Houston is arguably the crown jewel.
We started our third brand in Houston Invest and recently hired two GREAT team members to continue building out our office and team. We have a great office location and great team and we really love the Houston market. The projections for Houston’s real estate market are very, very good.
Memphis, TN is full of history. It’s nationally recognized for its contributions not only to the culture of the South, but as a revolutionary epicenter for innovation felt throughout the country. Even today, things that came from Memphis decades ago have a profound impact on our culture — and most folks don’t even realize it!
We love Memphis for a lot of reasons and all are related to real estate, business and creating opportunity for other investors. But there is so much more that makes Memphis great! This is a tough and resilient city and we are currently under-going a revitalization. We are learning again and our unique culture is what we need to lean on. When you learn about Memphis, you learn a lot about what has made Memphis Invest the company it is today.
No one person can be more instrumental in the success — or failure — of your real estate investments than your property manager. They act as organizer, middleman and voice for your investment property. A good property manager not only keep real estate investors from having to deal with the daily grind of many landlord responsibilities, but they are key in finding and keeping good tenants.
There is a phrase that is often used when talking success for real estate investors. It goes: A bad property manager can destroy a great investment every time.
Sometimes it feels like a futile struggle to get tenants to pay on time. Your property manager can send reminder after reminder in every way they can think of, from the spoken word, written note, email, text, tweet to smoke signals and semaphore...sometimes nothing seems to work!
When the rent payments come in late, it can be a real inconvenience to real estate investors — particularly those who own single-family properties. At the same time, high turnover rates can be a killer for a real estate investor. Both of these issues can easily be overcome with a few simple steps and "re-evaluation" of the owner/landlord/management/tenant relationship.
Memphis Invest, GP Hits 500 Closings!
500 is a big number for us. Yes, we have been on INC Magazines 500/5000 Fastest Growing Private Companies In America list for three straight years...but, that is not the 500 I am talking about or even wanting to brag on our company for. This is a very unique, family-owned company with a strong culture and now over 50 full time team members. We are providing services to close to 900 real estate investors and are managing just under 2,700 properties in three cities. These are all incredible milestones, but none of them are the number we are wanted to celebrate our team for.
Topics: real estate investing
Property renovations can get very expensive very quickly. Real estate investors need to prioritize their renovations to get the most for their time and money. Research shows that the most bang for your buck can be found in the overhauling of two rooms in particular — the kitchen and the bathroom. There two unfortunate points connected to that little bit of research.
1. Bathroom remodels and kitchen remodels, just by the nature of what goes into them, can cost a lot of money to renovate.
2. Both of these rooms in the house involve plumbing. Any work that involves tampering with plumbing is going to drain your money.
Topics: property renovations
5 Self Sabotaging Actions of Real Estate Investors
It seems odd to open by telling real estate investors how to fail. Sometimes, though, the best advice comes from being told what not to do! While there are always individual circumstances in real estate investment and advice should be taken with a grain of salt, there are certain principles to the business that are universal. One of them is to never call a buyer a "loser" as the sign points out. I promise you....that has never happened on our end!
We have worked with nearly 1,000 investors at this point and there are certain actions that we can all identify as "trouble" for real estate investors. How you refer to a buyer is an easy one. Here are five REALLY EASY to identify trouble points to watch out for as a real estate investor. They may not be as obvious as the picture above, but they are crucial and often self inflicted so they are critical to be aware of! Take notes and shoot us any questions you may have.
When it comes to real estate investment, it’s vital to be well-informed. It can be incredibly daunting, because there’s a lot that real estate investors need to know in order to be successful in this business. In many cases, you can afford to make a few mistakes while adjusting to the learning curve — but not when it comes to matters of the law.
To those not immersed in that world, real estate investors can be mysterious figures, lumped in with landlords and property management. For you and your colleagues, that isn’t the case. Real estate investors do important work that ultimately affects your landlords and your tenants. Real estate investing done properly is not a gamble nor a game, it is serious business where calculated risks are taken and where serious wealth can be built.
Whether you have your hands in the day-to-day going-ons of your investment properties or not, there are steps that you can take that will have you standing out in the sea of investors. We have written extensively about the serious and important work of real estate investors and how we as a company are very selective as to the clients we would like to work with.
Topics: real estate investor tips