memphisinvest.com

17 Replies

Hello all,

First time posting here.  I just got burned by turn key company in Birmingham, AL and desire not to repeat the mistake. I thought I can ask great group like BP before I dive into new investing this time.

Since my price point is not what goes on in Los Angeles area, I was looking other states to add few more rentals which will produce about 1% point you often discuss on BP.

Your advise would be very much appreciated...Karol

Disclosure: My company sells wholesale, turnkey and retail properties in Birmingham.

I am sorry to hear about your unfortunate bad experience in Birmingham. I do not know what company "burnt" you, but there are several good turn key companies here in the Birmingham area. I would encourage you not to dismiss Birmingham because of one bad experience. There are several out of town investors on here who will give you some good references for good companies in the area. If you are looking for B+ properties, you should check out Spartan Value Investors and Alliance Wealth Builders. 

Hi @Karolyn Son - I have not invested with MemphisInvest personally, but @Chris Clothier is very active on BP, and has been delivering quality educational content for investors on BP for many years. I have had the privilege of meeting Chris at a couple of REI events, and he is the real deal. I can't speak to returns, but I can speak to their high level of industry expertise.

Hi Karolyn,

Welcome to BP... this is a good place to check on other investment possibilities and due some due diligence but of course there are no guarantees.

However, you are in Los Angeles, as am I, how come you are not looking for rental opportunities here?

By the way, notice that the 1% rule does not mean that the rental property will be successful it is more of an efficiency tool, it is a filter by which you eliminate "opportunities" so that you can focus on the ones that look more promising but you should always do further due diligence.

Cheers! see you around...

@Karolyn Son Hi and welcome to BP!  I am not invested nor do I have any business relationship with Memphis Invest, but I can say that Chris Clothier is very active on BP, and has an excellent reputation, and has been personally helpful to me.  Memphis Invest is also one of the largest TK providers in the country.  I am invested with a turnkey company in Jacksonville Florida where the owners mentored with Chris, and essentially followed his model.  I can tell from my experience with them over the last three years that they provide an excellent service, top notch property management, and a culture within the company that is quite unusual and highly ethical.  My several properties with them have performed very well.  

Based on that, if Memphis is a market you want to invest in, I would say you are very safe investing with MI, and highly likely to have a very good experience, unlike anything you experienced in Birmingham.

Hi @Karolyn Son

I'm sorry to hear about your bad experience in Birmingham, AL. My company is Spartan Invest (& Spartan Value Investors), and we provide a full service turn key experience in Birmingham. I do not want to solicit on BP, but I would like to provide my help in any way. If you need help deciding what to do with your current property, or if you just want information about the area or your options we are here to help - no strings attached. 

Just my two cents, Memphis Invest is a great company, and Memphis is a good market to invest in. Of course, we would always love the opportunity to keep you in Birmingham and make you happy, but you would be choosing one of the industry leaders in Memphis Invest. 

I'm sorry you had such a bad experience, but please believe me in that there are some really great turnkey companies in Birmingham. 

I've also never purchased through MemphisInvest, but echo the above comments.  I have never purchased a turnkey rental, but if I do, it will probably be through them.

Without exaggeration, you will not find a turnkey company with a better reputation.

Another bad Birmingham experience? I wonder if it is the same company that popped up on Bigger Pockets last month?  

There are other providers on this thread, maybe they can help you out.  The good thing about RE is that the property can be fixed, the tenant can be fixed and the PM can be fixed.  The only thing that can't be fixed is the area.  Your property can be turned around back in the black, you just need the right local person to get you there.  It may cost money, but certainly worth it to get it profitable.  Over time, you will get caught up.

You should share your experience as a learning tool for other buyers on BP.

Disclosure: Partner, Memphis Invest

@Karolyn Son ,  Feel free to reach out to me either on here or by private message.  I sent you a message and the company I referred you to for help in Birmingham, Spartan, also commented here on the forum.  I am sure they will help if they can.

As for Memphis and my families' company, I am humbled that you are interested in working with our team and continuing to invest in quality opportunities with turnkey properties.  If you would like, I would be happy to forward you a short e-book I wrote outlining steps that investors in your circumstance should follow to successfully invest in other cities.  I am sure it will help you build confidence in your decisions and find the investments and experience you expect when dealing with a turnkey company.  Send me a private message or reply on here and I will be happy to forward it.

All the best as you move forward  -   

Chris

@Karolyn Son

Sorry to hear your experience was bad. Please feel free to share your experience with BP members, since several of us are in the process of researching turnkey companies and what to make sure we do not get involved with the wrong company.

Good Luck.  

Originally posted by @Karolyn Son :

Hello all,

First time posting here.  I just got burned by turn key company in Birmingham, AL and desire not to repeat the mistake. I thought I can ask great group like BP before I dive into new investing this time.

Since my price point is not what goes on in Los Angeles area, I was looking other states to add few more rentals which will produce about 1% point you often discuss on BP.

Your advise would be very much appreciated...Karol

 Hi Karol,

What do you mean when you say you "got burned?" I would be curious to heard what happened.

- Dave

Originally posted by @Karolyn Son :

I was looking other states to add few more rentals which will produce about 1% point you often discuss on BP.

Your advise would be very much appreciated...Karol

 Sorry to hear about your bad experience!! If you are looking for good yield on rentals, Jacksonville, FL is another great option. 

@Karolyn Son  what does burned mean... would be nice to elaborate... 

price point has a huge impact on how your investment will function.  

Although if you got caught up in the Bham compnay that disintigrated and rents were lost etc etc. or rehabs not done.. thats another matter.. Larry Fried would know about that company if it is indeed the same one.. You may want to ask him for status.

I think you will find that MI has moved out of the lower value assets some years ago and is selling higher value assets.. these are much easier to manage and the tenant base is completely different than the lower value asset and that makes a huge difference in the long run

Hello @Karolyn Son ,

I hope you did not have any financial loss.

 If you read and learn and participate on forums in BP, you might be able to reduce the risk of getting burned again. 

Anyway, if you are looking for a new market, I recommend you Jacksonville, as most probably that would fit your investment budget.

I am not affiliated with MemphisInvest.com but threads like this should be removed. We have a person with no previous posts and no reputation anonymously discrediting a very active and helpful company in which real repercussions could occcur. She gives no basis for her accusations and has since not posted here or anywhere else. For all we know she could have set a house on fire to collect insurance money and is mad at the provider for using fire retardant material.

@Chris Clothier I sent couple of messages to you to finalize investment opportunities as i have questions on property valuation/negative equity in purchase. Would appreciate a reply.

@Clayton Mobley  Deciding b/w Memphis and AL. How your model is different than MI. can you please shed some light.

So what markets does Memphis Invest operate in at this time.  I'm aware of Dallas, Houston, and Memphis.  But heard they were expanding to other markets.

Disclosure: partner

Originally posted by @Michael P. :

So what markets does Memphis Invest operate in at this time.  I'm aware of Dallas, Houston, and Memphis.  But heard they were expanding to other markets.

 Hi Michael,

We are up and operating in five markets.  They are Memphis, Dallas and Houston and we expanded into Oklahoma City and Little Rock last Fall. We are researching markets in Alabama and Missouri and planning to visit markets in Kentucky and Georgia shortly.