Positive Trends For Investment Real Estate ContinueMemphis Invest, GP and related company Premier Property Management Group released 2013 First Quarter Results on Sunday April 21st and a positive trend for the real estate investment company and their clients continues. Demand for investment property and opportunity continue to remain strong in both Memphis and Dallas and portfolio performance as well as client satisfaction remain high. Sales at Memphis Invest, GP grew year over year 110% and tracked even compared to the 4th quarter of 2012. As demand from existing clients continues to pick up, we expect to see growth throughout the year.
"This has been a very strong quarter for each of our companies from buying and selling to renovating and managing both in Memphis and Dallas and we are on pace for another year of strong growth in 2013", according to Kent Clothier, Sr.
Memphis Invest, GP, which reports the numbers for each of the companies, has seen investment property sales in Memphis and Dallas grow steadily each quarter going back to 2011. Two factors that lead to the steady growth are numbers of clients served and their continued participation in the market. Premier Property Management is managing portfolios for 692 investors as of April 1. Those investors were very active in the market during the 1st quarter as 64% of closed sales transactions went to existing clients. Those two number show that investors continue to have a high level of satisfaction with their existing portfolios and the performance not only of the properties, but also of the management of the portfolio.
"This is a great guage for the success of our property management company and my team. We are trying to perform at a very high level both in terms of the way the properties perform for clients and in the way we provide customer service and if those two factors remain high, then our clients will continue to trust our company and build their portfolios" says Nate Gray, Director of Premier Property Management.
No Changes In Memphis Investment Plans Memphis Invest, GP sees no changes in the current plan for acquiring, renovating, renting, selling and managing property in the Memphis or in the Dallas markets. Each market has unique characteristics, but both remain solid investment markets with opportunities for investors to purchase investment properties. Rents continue to strengthen in many of the neighborhoods and sub-markets of the cities where we are buying and those areas will remain as our focal points. We do continue to explore other cities and have two cities on a short list for future expansion in late 2013 early 2014. Be on the lookout for those announcements!
1st Quarter Numbers