Have you ever wondered how other kinds of investments measure up to investing in real estate? What about the other way around? Maybe you’re already a real estate investor and you’re considering diversifying your portfolio—you’re not sure if real estate is still the answer. Or maybe you’re new to all of this investment business and you don’t know what variety is the best choice for building up your financial future.

Businesses are often compared to machines. It’s a tired metaphor, but it doesn’t make it less apt. Machines rely on many moving parts to function, and it is true of investing in real estate, too.

Unlike businesses, these parts don’t come in the form of jobs to be filled, departments, or complex infrastructure. Most of the time, the “parts” that a real estate investor’s business needs to function rest solely in his or her hands.

Even passive real estate investors are responsible for the moving parts of their investment portfolio.  Memphis Invest learned long ago that addressing those moving parts with investors honestly, from the beginning and including a willingness to tell some investors that they simply were not ready to move forward, was the only way to build a Turnkey company.  Why?  No matter how passive an investment is or an investor wants to be, the investment success or failure rests solely in their hands.

That’s a lot of pressure!

If you’ve ever wanted to invest in real estate, the first thought that likely comes to mind is whether or not you can afford it.

Money is the central theme around investing in real estate—spending it to get properties and improve properties, and then earning it from tenants, building up savings or a retirement fund, and then repeating the cycle as it builds on itself.

But there’s a major hurdle that can come across the path of a would-be investor: bad credit. Bad credit or a general lack of funds can seem like a massive problem. After all, doesn’t acquiring real estate require a down payment and approval for a mortgage? How in the world can you get approved if your credit is terrible?

Investing in real estate can get overwhelming, especially when you’re new to the game. It’s filled with a lot of different processes and variables. When your investments are totally self-directed and filled with possibilities that span markets nationwide, no wonder new investors find themselves feeling paralyzed!

If you’re at a loss as to what to do next, don’t worry. We've all been there. The Clothier family has been investing at some level in Memphis and Dallas for the better part of 30 years! So we know how overwhelming it can be in the real estate investing business! We've worked with over 1,600 real estate investors and currently manage over $500 Million in assets for our clients. So pay attention to the 7 steps below that you can take towards real progress in your real estate investing career. It's invaluable advice that we can honestly say has helped us get to where we are today!

Did you know that most real estate investors don’t live where they invest? It’s true! While many investors do choose to stick with their local markets, the vast majority venture out into markets in other states, regions, and countries to make their fortunes!  

Memphis Invest has been helping investors with their real estate investing plans for close to 15 years.  In that time have worked closely with thousands of out of state real estate investors.  Our mission, from day 1, has been to make investing far from home comfortable and safe with reliably consistent returns.  As you may have already guessed, we do it well but it is not easy.

Investing remotely isn’t necessarily a cakewalk. Once you have properties and a network of support and connections, it’s certainly easier.  We've detailed recently in our articles steps you can take to be a better passive real estate investor.

But how do you get started in a market that you know little to nothing about? How to reach into the unknown and find the best deals, the right neighborhoods, and solid investments?

Property owners who started off landlording know just how tough the job can be. You know that property management is a whole different game, and you understand that having a good team supporting and maintaining your properties is just about the best asset you can have in this business.

But just having a property management team isn’t really good enough. Some real estate investors might be content to hire the first property management company that comes along, but you might want to dig a little deeper than that!

Investors who are lucky enough to work with Memphis Invest have heard us say over and over again that being passive about your passive investments is a sure-fire way to fall to frustration.  YOU must be an engaged investor!  There are a few minimal actions you can follow that will greatly improve your experience and reduce your levels of frustration as an out of state investor.  

No matter how old you are or how much you have in the bank, we can all stand to do a healthy self-assessment of our personal finances. We all want to be successful. We all want to retire early and with more than enough. We don’t want to have to worry about money!

Our money is one thing. Personal finance? That’s another. That’s the strategies and principles that manage and guide our money. And the questions is this: are yours up to snuff? We might know what we’re supposed to do. You can have all the right answers. Spend less, save more. Invest. Budget. Cut up your credit cards.

But honestly, how well do you listen to what you know? Do you put that personal finance wisdom into practice in your daily life? Maybe you had a New Year’s resolution about your budget...and maybe it’s not working out so well.

Whether you’ve fallen off the wagon and need to course-correct or just want to assure yourself that you’re headed in the right direction,

In the real estate investment world, risk is always a part of the equation. When starting out, there are no doubt some big questions in mind: What if I fail? What if I can’t do this? What happens next if this doesn't work? Am I paying too much? Am I charging too little? Did I hire the right contractor? Did I hire the right Turnkey company? Is my property manager going to take care of my property?

Just as we can grow to worry about any venture in life—a career change, a new relationship, moving to a new city—our investments can be a source of anxiety. But we’re here to tell you something: failure is no reason to fear. In fact, risk and failure are essential on the road to becoming the very best you can be in real estate investment.  

The beauty of working with a Turnkey real estate investing company is that, hopefully, you've chosen a company with a little grey hair at the helm.  A company that has been through the fire a time or two and has had setbacks and failures to lean on.  Those setbacks are exactly the types of things you want your team to have experienced so they can help minimize your own.

Still, failure and fear of it are not unhealthy.  They can be excellent teachers and motivators for real estate investors.  Does that mean lose-everything-you’ve-worked-for failure? No! 

Have you ever felt overwhelmed by options?

Fast food restaurants have space-age drink machines with 300 combinations of soft drinks. We’ve given endless choices at the grocery store, when shopping for clothes, when selecting shows to watch on Netflix.

Real estate investors, whether we realize it or not, are faced with the same slew of options when it comes to our investments. While it might seem like there’s just a handful of ways to go about this whole investment thing, new investors quickly find that there’s a whole world of strategies, variations, niches, and markets out there.

We’re surrounded by busy people. You’re likely one of them! We always have a million and one things to do and it doesn’t seem like we can squeeze in one more thing. No matter how hard we try, it’s always a challenge to fit in those trips to the grocery store and that time to visit relatives and spending quality time with the kids.

In a world that never stops, how do you find time for something like real estate investment?