Memphis Invest Reviews?

Simi Valley, CA · Member since 2014 · 2 posts · 2 votes

I just signed up to Biggerpockets and live in Simi Valley. Since I live in outside the LA area, investing locally is way out of reach. The idea of investing out of area is a bit scary, so turnkey looks very appealing. My wife and I are looking for steady cash flow with minimal headaches.

Anyone have good or bad experiences with Memphis Invest? I'm a little leery of investing with turnkey, but this company seems to have a decent reputation, from what I gathered so far. One red flag for me about the company though is you must use the lender they provide.

thanks in advance

Michael

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Jeff L.

Rental Property Investor · Franklin, TN · Member since 2010 · 43 posts · 32 votes

12y

All he said was "holy cow"? You'll need a little thicker skin if you are going to invest in real estate. :)

As you can see from Chris' response, the team at MemphisInvest are top notch.

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Steve Karp
Investor · Los Angeles, CA · Member since 2016 · 41 posts · 27 votes
10y
I have experience with Memphis Invest. I did my research which included reading through many threads here on BP. They are strong stable and unquestionably the best. What tipped the scales for me was a post you can find on BP. Someone had purchased a property from
Memphis Invest and was unhappy. While that investor may have had unrealistic expectations, inexperience or simply bad luck, once the deal closed, they were miserable. Short of it is, Memphis Invest bought back the property. If nothing else tells you about the company or the value of their relationship, that should. As for me, I've financed and paid cash for their properties. I've also financed many a property elsewhere. Memphis Invest properties are different in that they're Not owner occupied, and turn key. That's where the pool of lenders narrows, and where the benefit of a lender having worked with Memphis Invest is an advantage. You can also pay cash, then find your own financing if you choose. Do you pay more buying from Memphis Invest? Perhaps a slight premium, however the properties Memphis Invest sells are impeccably rehab'd with the kind of work I admire, and from top to bottom they're an organization that understands the investor. I never have to worry about what's going on with a property. There's consistent constant contact and their portal stores all the statements I need. I'm not a landlord. I'm a Real Estate Investor. With Memphis Invest I can focus on what I'm passionate about, finding properties that fit for me and putting the deal together. From that point on, I leave it up to Memphis Invest to fulfill their role. They're experts in the markets they work in. I trust them to market, screen, sign a tenant and service the property. Its a huge benefit to have a partner like Memphis Invest that handles All the other responsibilities that go with an income property. I'm very particular. Rick Luebbert is a great guy to work with. I've also had the opportunity to meet Rick and the Clothier's which was amazing. I may sound overly exuberant, I'm being candid. Investing out of state was a Huge mental obstacle for me for many years. I took a baby step in my head and started some due diligence. Once I took that leap of faith it changed my approach for real estate investing. Being successful is not a solo venture. Its working with good people like Rick and organizations like Memphis Invest that go a long way towards reaching my goals.
6 Reply
Monica P.
Investor · Haledon, NJ · Member since 2016 · 16 posts · 4 votes
10y
Hi, I'm an investor from NJ. I'm looking to invest in Memphis. My price range is 75-85k. Could that buy me a multi unit in Memphis in a decent area? Thank you
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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
10y
Monica, you can buy a duplex for your target price but it will be far from a decent area. We stopped selling them 4yrs ago Bc investors never had the experience expected. Too much vacancy and repairs never allowed the investor to realize true cash flow from both units.
Your price will get you a solid single family home in a C+ to B area that will out perform a cheap duplex any day.
Good luck
Curt Davis - KAIZEN Realty538 Reviews
Website View Page
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Fabio A Becker
Carthage, NC · Member since 2016 · 21 posts · 3 votes
10y
@stevekarp thanks for your message you posted. I know it was several months ago but was hoping you could share some experience in regards to your time with Memphis Invest or any other reputable TK you've worked with. I've seen the spreadsheets and cash flow projections but how often have you had to pay for repairs or other capitol expenditures that reduced your cash flow?
In addition, if you have, or ever wanted to, could they assist you in selling your property on the market as well?
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Dean Letfus
Specialist · Memphis, TN · Member since 2012 · 1k+ posts · 1k+ votes
10y
@Monica P., no it won't get you into a great area. It would get you something that would cashflow pretty well but would be borderline location. You can get a very nice SFR for that though.
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Eric Mauricio
Fargo, ND · Member since 2014 · 98 posts · 26 votes
9y
Anyone else care to share their cash flow on a property bought from Memphis Invest? Or share your experience with getting set-up with them or their property management?
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Russell Pitts
Rental Property Investor · Kirkland, WA · Member since 2016 · 60 posts · 19 votes
9y
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Maggie H.
Ontario, CA · Member since 2017 · 49 posts · 13 votes
9y
@Allison Karrels - Is the cashflow listed after allowing for contingencies (repairs, vacancies, capital expenses)? Or is that cashflow before such allowances?
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Allison Karrels
Investor · Gainesville, VA · Member since 2014 · 118 posts · 76 votes
9y
@Maggie H. The cash flow I listed on the 1st page of the thread is before any contingencies. If you look at buying a house with them they will send over several spreadsheets and they do factor in repairs, vacancies, etc in their estimate of monthly cash flow.
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Account Closed
Hales Corners, WI · Member since 2017 · 11 posts · 2 votes
9y
Originally posted by @Allison Karrels:

@Maggie H. The cash flow I listed on the 1st page of the thread is before any contingencies. If you look at buying a house with them they will send over several spreadsheets and they do factor in repairs, vacancies, etc in their estimate of monthly cash flow.
Thanks for posting that information, Allison. It's extremely helpful!
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Maggie H.
Ontario, CA · Member since 2017 · 49 posts · 13 votes
9y
that sounds pretty good, but the BP calculator indicates income should be $200 after contingencies.
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Maggie H.
Ontario, CA · Member since 2017 · 49 posts · 13 votes
9y
@Allison Karrels, thank you again for all the info and getting back to me specifically. I will need to see if I can get the spreadsheet from MIamd check it out! Thanx again!
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Stephen Steric
Real Estate Investor / Agent · Ventura, CA · Member since 2016 · 23 posts · 14 votes
9y
I'm also curious now about Memphis Invest. I live in Simi Valley as well, just outside of LA. My partner lives in Cordova, TN, just outside of Memphis. We're looking to pick up either a few SFR's or one MF with 12+ units. Any thoughts?
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Brian McPheeters
Rental Property Investor · Lake Forest, CA · Member since 2018 · 27 posts · 9 votes
8y
@alison karrels are you sure the spreadsheets include repairs, vacancies, capex, ... in their cash flow estimates? From what I have seen they just include p & i, prop taxes, insurance, and management. This is my biggest worry about going with them. The cash flow does not leave much room for contingencies.
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Brian McPheeters
Rental Property Investor · Lake Forest, CA · Member since 2018 · 27 posts · 9 votes
8y
@akarrels
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Jer Yeung
Specialist · Los Angeles, CA · Member since 2018 · 42 posts · 50 votes
7y
@Brian McPheeters - the spreadsheets include a plug for vacancy as well as maintenance & repairs. There isn't a capex line item, but that's also something they address up front with the extent of the rehab (at least for the common capex items). You can always modify the spreadsheet to goose the repair numbers with what you want as the capex number, but I'm not sure that's necessary.
They also include the management fee, lease fees, etc. Not sure if they were different in the past, but they seem to be pretty comprehensive now.
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Jared Shurtliff
Member since 2019 · 1 post · 0 votes
7y
@Allison Karrels
I this thread is a few years old, but I'd like to ask if this was with a 10% or 20% down payment? Also, have you purchased any other homes with them since then and how have they gone? I appreciate any feedback. Thank you.
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Allison Karrels
Investor · Gainesville, VA · Member since 2014 · 118 posts · 76 votes
7y
@Jared Shurtliff - 20% down on all my properties. Not sure how many I had when I originally posted but I have 3 houses in Memphis and 1 in Houston with them. All doing well.
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