In real estate investment, the options are unlimited. Your investing method could be totally different from the next guy’s and you would still be generating passive income. That said, the way in which you invest is paramount to your success in the long-term. Strategy matters.If you want to generate passive income in the long-term and build your wealth effectively and efficiently, there is one thing you need to have. It all starts with your team and knowing that you've chosen the right one. But how do you know you've got the right team? What is it about the team that is vital to your effective strategy for successful real estate investing? We'll walk you through it.
What Really Makes a Difference in Real Estate Investment?
When you invest in turnkey real estate, you suddenly have access to more resources than you would have alone. Your turnkey company, in the case of Memphis Invest:
- Acquires properties for you—saving you the hassle and headache of bidding wars in popular real estate markets
- Handles property renovations, ensuring that your investment is ideal for renters and designed to last
- Takes care of daily management with a property management team so that you can focus on your personal pursuits
- Guides you along with the help of expert portfolio advisers, mapping a long-term strategy
- Helps initiate and navigate more complex transactions, like the 1031 Exchange
- Provides regular updates so that you’re always in-the-know for your investments
And that only covers the basics! Out of everything that we do, one thing stands above as the most crucial for investor success: customer service.
Does that surprise you? It’s true—out of all of our duties and services that we perform, none is more valuable than that of customer service. When it’s all said and done, radical customer service lays the foundation of a successful investing career.
Why is that? Customer service encompasses many different facets of our business. At Memphis Invest, we pour time and talent into customer service for our investors, our residents, and even the other companies we team up with along the way. But again, why is that? Because we recognize and hold at our core that it all comes down to the customer experience and making sure that it's a great one. Let's break it down some more.
What Does Great Customer Service Look Like?
Customer Service for Our Investors
As a real estate investor, you want to know that your money and your investments are in good hands. Part of this is simply picking a knowledgeable and experienced investment company. However, it doesn’t end there!
Radical customer service isn’t solely concerned with good management. It’s giving owners that WOW Experience that makes them feel secure and valued. From monthly check-ins and reports to an emphasis on building genuine, lasting relationships, Memphis Invest is dedicated to the investor experience above all. We want that one-on-one conversation.
With help from our advisers, you can trace the roadmap to your best financial future. Along the way, you will find not only a solid business partner but a real, meaningful relationship. We value trust; specifically, your trust. When choosing a turnkey provider, you need more than a transaction. You need the lasting relationship that builds your wealth.
When your partner values you—your goals, ambitions, feelings, and concerns—it’s easier to build that trust, be more hands-off, and learn new processes.
Memphis Invest is about that care and handling. We want our investors to feel confident, reassured, and right when they’re with us.
Check out our Experience Matters Podcast: Fanatical Customer Service!
Customer Service for Our Residents
For some investment companies, residents are simply the means to a profit. We see that attitude prevailing among “slum lords” and other money-minded owners. At Memphis Invest, we’re geared towards people.
For our residents, that means our property management team is engaged and active in their mission to not only preserve an investor’s property but to ensure residents are well-cared for and their needs and concerns are met. For us, that means preemptively replacing appliances and infrastructure that might not need it yet...but we know it will. We get ahead of the curve when it comes to maintenance and repair, ensuring that residents are rarely inconvenienced.
Not only that, but we treat residents just as we do our investors and vendors. That means notifying them when a repair or job has been completed and soliciting feedback in the process. Few, if any other property management teams, go this far!
We survey residents, send welcome gifts, and try to form a good relationship and a strong rapport. Ultimately, these things help us better see where to improve our services for residents and mold relationships that last. Building a better experience for all parties involved is what it comes down to.
What does it matter to an investor? Radical customer service for your residents means you win resident retention. For an investor, vacancies are the most costly seasons. We take great strides to reduce vacancies by working to increase resident retention—and customer service helps us do that.
Find out how Memphis Invest does it all in our latest Culture Book.