Build to rent in Memphis, TN

James Wachob, a real estate investment broker at Foundation Property Management, recently reached 715 units under management and more than 400 brand-new SFR homes built for investors. Wachob’s investors come from around the globe and use these newly built homes as rental properties in order to generate passive income.

Investment Property bus tour

“My investors are excited about adding brand-new properties to their investment portfolios because there will be little to no maintenance required, the homes are more energy-efficient, and there is an abundance of qualified renters that would love to live in a brand-new home,” said Wachob.

What made this possible? “Before the housing crash of 2009, a buildable lot in a Memphis community would sell for $50,000+ after the banks foreclosed on these lots,” noted Wachob. “We were able to purchase these same lots for less than $10,000. By paying 20% for the land we were able to build homes affordably enough that our investors could rent them out and use the passive income as a means to retire.”

The problem we are facing: “Over the past five years most of these affordable lots have been built on; therefore, the supply of these discounted pieces of land are vanishing quickly. Because of the shortage of buildable lots, we are now focused on building multi-family properties in order to meet my investor's demand,” noted Wachob.

What this means to the future of local real estate: “With a shortage of affordable first-time homeowner homes, the value of existing properties will definitely rise,” stressed Wachob. “We purchased lots that have been previously foreclosed on then builds homes that are rent-ready. These homes are in desirable suburban communities. Investors can demand more stringent qualifications of their renters because they are brand-new homes. The company then works as a property management company to provide a full turn-key experience.”

Wachob has developed a system to streamline the investment process, enabling investors to secure the highest quality properties at the lowest price. He is also renowned for supplying his clients with income-producing properties. Many of his clients are new to investing in real estate and based in locations like San Diego where single-family residences are too expensive to cash-flow as a rental home.

By investing in an area that offers lower prices and comparably higher rents, his clients receive passive income through owning real estate. “All of my investors tell me the same thing, ‘I want to invest in real estate, but the numbers just don’t work in my backyard,’ concluded Wachob. “That’s why they come to me, they need a team in Memphis that has their best interest in mind. My team takes care of building the home, finding a well-qualified tenant, and then managing the property for years to come.”

James Wachob has 20 years of experience helping investors buy, sell and manage

properties in the Memphis area. As a Real Estate Investment Broker, and investor, he has helped clients from around the world invest in single-family, multi-family, and new construction properties. The mission of TurnkeyInvest.com is to offer complete turn-key service, new construction, and residential single-family properties for local, out of state and foreign real estate investors.