In the above subject line there are two assumptions that are generally misconstrued to the average real estate investor.  For perspective, I’m an underwriter at a community bank that makes portfolio loans and other types of real estate investment loans. 

Father's Day is upon us, so it seems appropriate to reflect on a few of those fatherly axioms that dads drill into their kids -- er, I mean, "gently instill in their children." There's a reason this kind of advice from fathers gets handed down from generation to generation: It's really good advice. And the thing about really good advice is that it can often be applied across many areas of your life. Such is the case with the words of wisdom I'm going to share with you today -- they can easily be applied to your real estate investing career.

Memphis Area Association of Realtors Reports Big Growth

The Memphis Area Association of Realtors (MAAR) showed a tremendous increase in year over year sales for January to start 2013.  The association released data entered into the MAAR data property records database showing over 1,250 sales for the month of January which was a 46% increase over January of 2012.  The total number of properties sold was also an 8.9% increase over December of 2012.

Property management By The Numbers

I have been making a concerted effort to keep the numbers up to date each month on here for all our readers and clients.  But, I also want to make these posts as a way to give a lot of credit and praise to Premier Property Management.  By far, that is the most thankless part of our entire business from staff to clients and we all owe them a big thanks for the effort and attention they give to our portfolios...including mine!  There is a reason Premier Property Management is quickly growing into the largest Single Family resident management company in Memphis.

Billionaire Mayor of New York City, Michael Bloomberg has chosen Memphis as one of five cities whose Mayor's he is supporting through an initiative at his Bloomberg Charities.  The Grant is designed to assist Mayors who are in the first 18 months of their terms and are in unique positions to not only tackle problems but also have a willingness to work together to share what is working and what is not.

The Memphis media recently published information pointing to a rise in rental rates and a decline in vacancy among Memphis multi-family units in Memphis (see the article here).  Premier Property Management of Memphis has been seeing this same trend in the single-family homes that they have under management for real estate investors around the country.  The trends have been moving toward a stabilization of rent and even slight increases in most of the neighborhoods that Premier Property Management manages properties.  Here is a breakdown of the month of May for Premier Property Management: