Plenty of inexperienced real estate investors choose to fly solo. They imagine doing it all themselves will save money and leave more rental income in their pocket each month. While this is true, their overall portfolio will suffer in the end. Doing it alone stunts and limits your growth, which is critical for building lasting wealth across multiple income streams.
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At REI Nation, we value property management because we're investors ourselves. Our processes are designed to maintain and care for your properties as if they were ours, because that's exactly how we got started!
However, if you're continuing your search for the right fit to manage your properties, we highly recommend you do your due diligence.
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Building a real estate investment empire isn’t about owning the most properties, charging the highest rates, or investing in the most luxurious markets. Success as an SFR investor comes through a high level of service and consistency. Your greatest asset apart from your properties is the people inhabiting them.
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The bigger your real estate investment portfolio grows, the more diligent you must be in wealth management.
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Property management is one of the toughest jobs in the world of real estate investment. Pleasing and retaining residents, ensuring properties are well-taken care of, and protecting your investments on the day-to-day is an often under-appreciated but critical part of your success.
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After 15 years, this week, Memphis Invest celebrated closing on our 5,000th property!
This is a HUGE milestone for us, and also for the people that helped get us to where we are. From our clients, to our staff, vendors, and residents, we are extremely grateful for everyone that has been a part of growing our company and our vision.
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As real estate investors, we all want our properties to stay in tip-top condition. After all, a rental property in good condition means it shows better, retains and accumulates better value, and better satisfies our residents. When we’re not actively working to improve the condition of our investment properties, we certainly don’t want them to be damaged.
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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.
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When you think about your real estate investment career, what’s the one thing you think you couldn’t live without? Think hard.Is it your capital? Your connections? Your credit score? Real estate investment comes in so many different flavors that’s it’s hard to say what the number one most important part of it is. What someone could manage without you might not be able to. But for turnkey real estate investors who rely on a more hands-off real estate investment model, what you couldn’t survive without is pretty clear cut.
It’s a reliable property management team, plain as day.
Even real estate investors who aren’t turnkey...they just aren’t landlords...would probably contest that they couldn’t do it without the help of their property managers. After all, someone has to be there, hands-on, taking care of all of the day-to-day, nitty-gritty details.
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Residents are the bread and butter of real estate investment. Because they are the source of our cash flow, it’s critical that we place value in tenant retention. In a market where tenants are abundant, it may be tempting to think that your tenants are dispensable and replaceable: but don’t be fooled.
Memphis Invest has built its' reputation among real estate investors with incredible customer service. But that customer service reaches far beyond just the investor. Over the years, we have learned and developed our own way of treating tenants and built an equally good reputation within the rental and property management communities.
Premier Property Management of Memphis and PPMG of Texas are each routinely out-performing local data with shorter vacancy periods, longer occupancy periods, higher rental rates and fewer delinquencies and eventual evictions. Our tenants have become a cornerstone of our companies' success. Treating them firmly yet fairly has become the mantra of our team.Yes, you can get another tenant. You can probably fill a vacancy pretty quickly.
But a good tenant is worth keeping, and turnover of any kind is costly!