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Forums » New Member Introductions » Seasoned Investor in Memphis, TN

Seasoned Investor in Memphis, TN Subscribe to Seasoned Investor in Memphis, TN

9 posts by 5 users

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Kent Clothier

Real Estate Investor · Memphis, Tennessee


Forum_avatar_avatar-memphis_tn

Icon_minipost Nov 30 '08, 09:22 PM

I have bought and sold over 150 properties year to date in Memphis. I currently own 90 rental properties along with 6 commercial buildings here in Memphis. I also own the local REIA here, Mid-South Real Estate Investors Association. I look forward to networking with everyone on the site.

Edited: 06/26/2010 at 06:30AM


David Cole

Accountant · Sedona, Arizona


Forum_avatar_avatar-taxpro

Icon_minipost Nov 30 '08, 10:00 PM

Hello There and welcome to Bigger Pockets...

So how do you find the market in Memphis?

I assume you are picking up REO's and putting renters in them?

Edited: 06/26/2010 at 06:30AM


Kent Clothier

Real Estate Investor · Memphis, Tennessee


Forum_avatar_avatar-memphis_tn

Icon_minipost Dec 01 '08, 12:05 AM

We have multiple sources for all of our properties, including REO's.

The Memphis market offers great opportunities for positive cash flow with minimal or no money out of the investors pocket. These are quality properties 3/2 brick, car storage, in good locations. Memphis is the ideal place for an investor with a long term buy and hold strategy.

Edited: 06/26/2010 at 06:30AM


Dick Green

Residential Real Estate Broker · Conroe, Texas


Forum_avatar_avatar-dcg123

Icon_minipost Dec 01 '08, 08:11 PM

Hi Kent,

Welcome to the group. Sounds like you have extensive investment experience. What are some of the advantages of owning the association?

Edited: 06/26/2010 at 06:31AM


Rich Weese

Real Estate Investor · sioux falls, South Dakota


Forum_avatar_avatar-venomousviper
Donor

Icon_minipost Dec 01 '08, 08:36 PM

I've never heard of "owning" the reia. I belong to one and no one owns it. Congrats on joining and your success in buying Memphis. Good luck and welcome.

Edited: 06/26/2010 at 06:31AM


Kent Clothier

Real Estate Investor · Memphis, Tennessee


Forum_avatar_avatar-memphis_tn

Icon_minipost Dec 01 '08, 10:13 PM

I founded the Mid-South REIA about 5 years ago and I am the President of the organization. I find many advantages including: the vendors who sponsor the REIA are the contractors, mortgage brokers, insurance agents, and other members of our TEAM that makes my other company MemphisInvest.com so successful. I also have been to the National REIA several times to meet with other Presidents/Owners of the other REIA's to get more information on making ours more successful. We are one of the only ones in the country who meet during the day, a lunch time meeting, rather than at night.

Edited: 06/26/2010 at 06:31AM


Rich Weese

Real Estate Investor · sioux falls, South Dakota


Forum_avatar_avatar-venomousviper
Donor

Icon_minipost Dec 01 '08, 10:17 PM

Any other BP members belong to a personally owned REIA? I might start my own to keep out all the spam and loons!!

Edited: 06/26/2010 at 06:31AM


Jon Holdman

Real Estate Investor · Denver, Colorado


Forum_avatar_avatar-wheatie
ModeratorPro

Icon_minipost Dec 01 '08, 10:28 PM

Pretty sure our big one, CAREI, is owned by a small group of people.

Edited: 06/26/2010 at 06:31AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Rich Weese

Real Estate Investor · sioux falls, South Dakota


Forum_avatar_avatar-venomousviper
Donor

Icon_minipost Dec 01 '08, 10:30 PM

Thanks Jon. I thought REIA was some national designation and not individually owned.

Edited: 06/26/2010 at 06:31AM


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