Memphis Invest

23 Replies

I recently came across Memphis Invest and have been talking to a couple people on their team, has anyone ever felt with such a company that handles everything and you provide the funding? Any help would be greatly appreciated!!!

I visited them earlier this year with some friends from California along with 2 other turnkey companies. Memphis Invest was very organized and professional but we came to the conclusion that they over rehab their houses. Make your own opinion and search on YouTube for some of their videos. They admit this and that is part of their build style. It's worth taking a trip and seeing for yourself. 

   My friends and I ended up going with Reedy Properties , so far we're very happy with them. 

  Every company has pros and cons see which you like better. I'll try to find thr third company we checked and put it here

Updated about 3 years ago

Third company was www.memphiscashflow.com which was our #2 pic.

My fiance and I are new to real estate investing and are planning to meet with Memphis Invest regarding their turnkey properties. @Tas S. thank you for the insights regarding their over rehab to their homes. 

Does anyone have experience working with Memphis Invest? @James Wachob How does Reedy Properties differentiate itself from Memphis Invest? We would love to meet Memphis Investment Properties as well.

Thanks!

Jamie

@Kyle R Mushlit

There are several TK companies in Memphis that offer a wonderful product if that is what you are looking for. I know @Alex Craig offers up a good TK product and has been doing that for a long time. 

I provide a little different product for my clients and for myself. I would be happy to answer any questions you might have on how my clients are seeing annual returns in the "Mid-teens" year in and year out!

Good Luck and welcome to investing in Memphis!

@Kyle R Mushlit Ive done a deal with Memphis Invest.  Dont really have any complaints. I can say they take care of their investors and their reputation is everything to them. They will do what it takes to make sure your happy.  If your plan is TK in Memphis then Memphis invest is the safe bet. Reach out if you have any questions. 

Disclosure: potential to received small referral fees, however has no influence on sharing my honest unbiased opinion of the company

@Betsy Hall   Yah Im still happy with them.  I got to meet with them in person last month. Even though they are getting bigger still have a mom and pop relationship feel.  To be fair my property has gone really well, just got my 3rd 2 year lease and I think the true test of a PM is when things go wrong. I feel confident they would handle things well, but havent put them to the test personally. 

Originally posted by @Billy Maloney :

@Betsy Hall   Yah Im still happy with them.  I got to meet with them in person last month. Even though they are getting bigger still have a mom and pop relationship feel.  To be fair my property has gone really well, just got my 3rd 2 year lease and I think the true test of a PM is when things go wrong. I feel confident they would handle things well, but havent put them to the test personally. 

 this is also a testament to asset quality and not having to rent to section 8

Originally posted by @Billy Maloney :

@Betsy Hall   Yah Im still happy with them.  I got to meet with them in person last month. Even though they are getting bigger still have a mom and pop relationship feel.  To be fair my property has gone really well, just got my 3rd 2 year lease and I think the true test of a PM is when things go wrong. I feel confident they would handle things well, but havent put them to the test personally. 

I just recently closed on a properly with them, and I get the same sense.  They don't make express promises or guarantees, but if anything, but I definitely get the sense that, if any issues arise, they will go far out of their way to make things right.  I can see how much they value their reputation and the premium they put on customer service.  And as Chris mentioned in his book, the real measure of a company isn't what they promise or guarantee.  Its what the company does and how they act when they are under no legal or contractual obligation to rectify a particular situation.   

You own 1 property with them?  Or have you purchased a 2nd?  And is MI the only TK company you work with? 

I'm a total newbie to this but recently have been checking out roofstock.com and heard about Memphis Invest.  Is there any way to see available properties online at the Memphis Invest website?

Disclosure: Partner

Originally posted by @Dean Brown :

I'm a total newbie to this but recently have been checking out roofstock.com and heard about Memphis Invest.  Is there any way to see available properties online at the Memphis Invest website?

Hey Dean, Welcome to BiggerPockets!  Here is a link to a Youtube video explaining a bit about why you will not find properties listed for sale anywhere.  Part of the rollout of our new website and custom developed management platform will include the ability for existing clients to view upcoming properties, but that is a little bit off.  Best of luck to you as you navigate the site and let me know if you have any questions about BP.  Best

youtube.com/watch?v=yLoc0N8K7a0

 why can't I find properties

@Dean Brown please be careful with Memphis Invest, @Chris Clothier might be giving you the small company feel with a youtube video link, but you really need to do your due diligence otherwise you will get burned by buying a dud. I left an review of my current deal with Memphis Invest here https://www.biggerpockets.com/... I wish Memphis Invest would have been straightforward and honest about this deal and let me know that that this was not turnkey ready, but instead I put down my earnest money deposit and now if I were to back out on this subpar property I would lose that deposit plus the appraisal costs from the lender. I have so much regret by proceeding with Memphis Invest

Disclosure: partner

Originally posted by @Gerry Lopez :

@Dean Brown please be careful with Memphis Invest, @Chris Clothier might be giving you the small company feel with a youtube video link, but you really need to do your due diligence otherwise you will get burned by buying a dud. I left an review of my current deal with Memphis Invest here https://www.biggerpockets.com/... I wish Memphis Invest would have been straightforward and honest about this deal and let me know that that this was not turnkey ready, but instead I put down my earnest money deposit and now if I were to back out on this subpar property I would lose that deposit plus the appraisal costs from the lender. I have so much regret by proceeding with Memphis Invest

Gerry, I hope you feel different about the small company feel after I personally spoke with you today.  We may be the largest Turnkey company in the industry by just about every standard, but not too big for the the owners to jump on the phone with a client or even an interested investor.  

Hopefully after our call today you have a different feeling about the property you were under contract to buy.  We were happy to cancel your contract and refund your earnest money and inspection costs.  In no way are we interested in closing on a property where you are not 100% satisfied that the property is the right fit and you are going to have an excellent experience.  As for transparency, hopefully you now have a better understanding of why we always tell investors to get an inspection and that, if not timed right (as in this case), it can lead to a poor inspection report.  However, we certainly could have done a better job of letting you know that we were addressing every single item on the list and that every item requiring permits had been properly permitted.  

The property you were purchasing is set to close on its 2-year lease with a resident on October 1 and we fully expect it to appraise, so it is unfortunate that we are not moving forward.  But we are happy to reimburse your fees and in the end hope you find great investments for your portfolio.  Best to you as you move forward.

 

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