9. Your Cash Flow is in Memphis, Tennessee
Released Dec 12, 2014
Discover how to create another income stream with a durable asset like real estate in Memphis, Tennessee, and not have to do the work on your own. Listen to this week’s show and learn: 00:38 Most people only have one income stream in their life. Learn why to establish more than one. 01:57 Keith explains “turnkey real estate investing”. 03:37 Interview with Terry Kerr of Memphis, TN’s Mid South Home Buyers begins. 05:30 Memphis, Tennessee’s economic and demographic makeup is what makes it a strong income real estate market. This is largely due to the fact that Memphis is the United States’ distribution hub. 08:16 The character of Memphis properties, and their rent-to-value ratios. 12:39 Availability of financing for Memphis turnkey properties. 13:50 Terry describes how there are efficiencies in having one company both provide and manage the property for investors. 16:04 The available inventory level of Memphis investment properties. 18:33 Tennessee’s Landlord-Tenant Law and how that is advantageous for out-of-area investors. 21:25 What makes for a good Property Manager is communication. 22:24 What gives Mid South Home Buyers a property management advantage is slightly below-market rents, better-condition homes, they do not charge the tenants an application fee, and they handle maintenance issues promptly. This attracts and retains higher quality tenants. 24:38 Current occupancy of the 875 houses in their management portfolio is 98.4%. 25:32 Mid South Home Buyers have an ongoing inspection schedule of their managed properties. 29:27 Terry states that the Property Manager is more important than the property itself. 31:12 Keith estimates how small the out-of-pocket costs are for an investor buying turnkey real estate in Memphis. 31:58 Mid South Home Buyers has warranties for investors on their turnkey properties. 32:50 Send Get Rich Education a message through our Facebook Page Messenger with what you most want to hear on future episodes. You can even tell us what you want us to ask guests. Resources mentioned: www.MidSouthHomeBuyers.com
