In the midst of the slowly recovery from the recession and housing crisis, there are some amazing deals to be had. However, not all of these deals are as good as they look on paper. If you are looking at discount properties for personal use or for use as investment properties, be sure that you look closely before you leap.
Why Purchase Real Estate Investment Properties?
So you want to learn a little more about cash flow real estate before you take the big plunge. It can be hard to know what to think about all of the information available online about real estate investing and rental properties for sale. What is reliable? What is too good to be true?
In today's economy, many people feel uncertain about how to invest their money. If they have a little extra money, they hate to leave it sitting around in a low-yield savings account, but they feel wary of the volatility of the stock market and many other investment options. If you are one of these investors, you may wish to consider real estate investment and rental properties for sale as a portion of your portfolio. According to a recent Christian Science Monitor article, "after five years of weak property markets, real estate is starting to look a bit more enticing for investors."
Realty Trac is reporting that foreclosure activity in Memphis is up four straight months and even though some in Memphis are disputing that, the trends we are seeing follow the reporting from Realty Trac pretty closely.
One of the great things about working with real estate investors from around the country is they all have their own reference points - their own backgrounds thata influence the way they think about real estate investing. Often, those reference points and backgrounds have to do with their own families investing, their friends or neighbors investing and even their own education about real estate investing. So it is interesting to note that many investors may have ideas about how to invest, but many have no idea why.
The Memphis Chamber of Commerce recently released their 2010 report outlining the successes of Memphis business. I was struck by several of the projects and awards that Memphis has won and even more encouraged as a real estate investor by the dramatic effect these awards and projects will have on the over-all value of the city. One major push I was happy to hear about was the push to move Memphis forward on the list of International business cities.
Founded by Kent Clothier, Brett Clothier, Kent Clothier, Jr. and Chris Clothier, MemphisInvest.com has grown over the past 6 years into the largest private home seller in West Tennessee. With the primary focus as providing real estate investors from around the country and even the world with investment opportunities they are not able to find in their home cities, the company has been able to fulfill that mission while helping investors build real wealth with assets. With 24 full-time employees and supporting hundreds of other businesses and workers in the city of Memphis, the Clothiers have taken the idea of passive real estate investing to a whole new level.
"There are some companies that are just great at what they do and they have clients that rave about them," says Kent Clothier. "That is our goal, our mission. We want our clients to be so crazy about how good we treat them and how easy it is to invest in real estate, that they cannot stop talking about our company."
It is those raving clients that have fueled the company to over 120% growth compared to the first 6 months of 2010.
Here are the top three private companies selling investment property in Memphis:
Memphis Invest, GP - 157
Memphis Investment Properties - 84
Memphis Cash Flow - 64
* according to Chandler Reports as of 7/1/2011.
"Customer Service has been ingrained in the very culture of our company and so much of providing great service revolves around doing everything in your company better than you did the day before," says Chris. "We take the time every week to train our staff on great educational materials and books that are all designed to help us serve our investors better. That commitment shows and it has fueled our growth."
After closing 69 transactions the first six months of 2010, the staff was happy to see that only the federal government was still selling more properties in Memphis than Memphis Invest. "When you close 157 transactions in such a short amount of time, so much of it has to do with how your clients feel about your relationship and and how they are being treated," says Marq Cobb. With Fannie Mae and HUD leading the Memphis area in home sales, MemphisInvest.com has firmly taken the mantle as the leader among private companies selling properties in Memphis and hopes to catch the government backed companies in monthly sales.
The Clothiers continue to plan for more growth and have plans to add more staff through the end of 2011. "We have to keep up with the demand from our clients and that means our service cannot drop one bit," states Kent. "We want to be the best at everything we do and this is no different - I want to be the best turn-key provider, the best property renovator, the best property manager and I want people to go WOW when they find out about our customer service program."
With those goals in mind, the staff wrapped up lunch on July 1st and looked ahead to an even better second half of 2011.
Memphis, Tennessee - Chandler Reports, the leading provider of real estate data, research and consulting information in the West Tennessee area, released the final numbers for real estate transactions in the Memphis area for February 2011. After leading the Memphis greater metropolitan area for home sales in 2010, Memphis Invest has started 2011 strong leading both January and February in home sales.