There are hundreds of news sources and blogs out there for real estate investors to read. There’s advice to be taken in, projections to be considered and trends to be analyzed.
Catching up on real estate news can be a challenge — but at Memphis Invest, we wanted to lend a hand. These are just a few of the articles and sources that we read on a consistent basis to stay up to date with real estate happenings! Check back in with these sources weekly to keep an eye on real estate investing news.
One of the fundamental lessons we’re taught in kindergarten is that of teamwork. Teamwork isn’t something that everyone enjoys, but in life, it’s very necessary. For real estate investors, it can be essential. There are plenty of sayings, books and poems that go back to a single, central idea: two are better than one.
There’s really no short cut to real estate investing success. So many people try to find some magic combination that will turn them into overnight millionaires with ultra cash-flow producing portfolios. Some real estate investors do find spontaneous success, it’s not the standard. It is often a long, patient road for many real estate investors to reach their standard of success and to develop a performing, self-sustaining portfolio . Some never reach it at all.
It seems like we’re always on the go. Whether for business or for pleasure, it’s a good idea to take advantage of modern technology when it comes to your travel plans. There are plenty of useful smartphone apps — many free — available on a variety of devices that can streamline your plans and made any trip less stressful.
We’ve recommended some other real estate investment blogs to our readers before. After all, it’s not enough to pull from one source — there are plenty of great blogs out there, offering different perspectives, flavors and insight that can shape a well-rounded, informed investor. We encourage you to scour the Internet! Seek out new voices in the industry.
We all know what they say about good intentions. We also know that most of us intended to keep our New Year’s Resolutions, but just a few months into 2015 and we’ve already wasted a chunk of change on our gym memberships and let too many papers pile up in the office.
Real estate investors, especially active investors, make deals all the time. We most often look to buy — after all, investors are interested in snatching up suitable properties to generate investment income. Selling also plays a big part in the real estate investment business. There will come a time when it may make sense to streamline a portfolio and either sell or possibly trade into different properties.
For many businesses, customer service can be an elusive art. However, offering the best customer service possible should be at the top of your business priorities, even at its' most demanding, inconvenient and difficult times. Real estate investing, especially from long-distances and with Turnkey companies can be very taxing on the mind and uncomfortable or some investors. More than ever, real estate service companies need to be great at customer service.
Premier Property Management of Memphis and PPMG of Texas have both been seeing this same trend their management portfolios since the4th quarter. A rise in rental rates over-all, a rise in demand for our services and a decline in vacancies. Each city have seen increases in lease extensions coupled with fewer monthly move-outs. We cannot say for sure that these trends are company specific or if they are related to the cities themselves as there is very little published data.
What we can say is that an increased focus on staff, training and service to tenants has absolutely paid off. We continue to have the outlier properties that take a little longer to rent for no rhyme nor reason and we continue to turn down un-qualified applicants only to have them complain. However, both scenarios continue to occur on a decreasing scale and happy, satisfied tenants continue to extend leases at an increasing rate.
Over-all, we are thrilled with the job our teams in Memphis and Dallas are doing! Here is a quick breakdown of some key numbers:
Your investment property is not your home.
There, I said it.
It’s something every investor knows, but that doesn’t stop some from getting tripped up when they get a vision in their minds of what they want their investment property to be.
We have to hold ourselves back at times when we are renovating properties that real estate investors will purchase from us as investments. It is easy to justify each dollar as a smart investment, but harder to make each dollar pay off in return.
It’s not a bad thing to want your property to be the best possible version of itself, but focusing too hard on shaping it into your vision of perfection can end up draining your time and money faster than you can think. Before you know it, it’ll take several years of renting to even begin to make up for the cost of property renovations.
