What matters most in turnkey investment success? It’s easy to point to the obvious — the right markets, the best management teams, or the most innovative model. There’s a general attitude that as long as they manage properties well and the owner sees their check each month, your turnkey provider is doing well.
Unfortunately for investors, few turnkey providers truly prioritize customer service as a critical part of their business model. At Memphis Invest, we recognize the infinite value in a turnkey company that communicates and serves well.
Not only do we recognize the value in top-of-the-line management teams, advisers, and markets, but we believe in world-class communication.
But why does it matter?
3 Major Ways a Communicative Turnkey Company Improves Your Investment Portfolio
You’re not in the dark.
The idea of trusting someone else with your investments can be nerve-wracking. After all, you’re taking a big leap that involves a lot of your hard-earned money. What if you’re buying into a scam? What if you’ve been lied to?
For new investors particularly, we know that communication is absolutely key. Not only does active, intentional communication help ease any fears or first-investment jitters, but it begins to build a crucial bond of trust.
Let’s be honest: a lot of companies don’t prioritize communication. We’ve made it our mission to make customer service our number one priority in an industry that puts it on the back burner. Part of this is because we know how critical that transparency and trust are in securing a long-term, successful working relationship and a strong portfolio.
When you’re left in the dark as a real estate investor, you can only wonder if everything is still going according to plan. Even if no news is good news, a lack of communication can cause unnecessary anxiety.
The idea is to build a relationship through transparent, meaningful communication between the turnkey provider and the investor. As this relationship builds, there will be a shift. Rather than craving communication from your provider to know that everything is on track, you begin to trust them. In fact, we have clients that, after years with us, trust us to make decisions on their behalf.
It would never be that way if we did not prioritize relationship-building and clear communication from the very beginning.
You’re on the same page.
When you’re working with other people on a venture of any kind — be it personal, professional, or in investing, you must be on the same page. Without a united front, you may find your partnership pulling in different directions. While turnkey investors ultimately hold the authority over their investment decisions, you may find strife and misunderstandings from an uncommunicative turnkey partner.
From the get-go, we talk to our investors about why they want to invest, what they want to achieve through their investments, and other motivating and aspirational details. This not only ensures that we are indeed the right fit for their investment strategy, but it ensures that our investors know what to expect.
When both investor and turnkey partner value this communication, they will find that working together is seamless. This is where it is important not only for the turnkey provider to excel at customer service but crucial for the investor to communicate their needs and desires.
You benefit from their experience.
Turnkey providers such as ourselves have a lot of experience under our proverbial belt. Over fifteen years in business, thousands of investment properties restored, thousands of investors involved — we’ve done everything from help facilitate 1031 Exchanges and investigate investment markets to handle every investment challenge, setback, and surprise in the book. From start to finish, we’ve seen just about all there is to see in the wild world of investing in real estate.
This knowledge could be something we keep to ourselves. However, we find that transparency with our investors not only creates a stronger bond of trust but lending our knowledge and expertise helps owners become more confident investors.
It’s tough to invest when you’re not sure what you’re doing. If you don’t know how to get from point A to point B, there’s a level of unease involved. However, if you have a team by your side not only handling the tough stuff but helping you understand the why, when, and how of it all — you’ll leave well-equipped to tackle any real estate investment venture with confidence.
Partner with a company invested in your success. Build your portfolio with Memphis Invest.