All Forum Posts by: Chris Clothier

Adam Craig - I have used both solutions that John Chapman and Ryan B. posted so there is not a lot more to add other than it is a process. As you get a history with a loan officer and a local bank, you will be able to build a portfolio. Eventually, you will rely heavily on that local bank as you continue to grow and your traditional finance options decrease.

Joshua Dorkin -

We are in, just let us know what we need to do to test the new system.

Bruce L. You want to be bonded under any companies workmans comp insurance. For those that are not insured, you want to carry your own workmans comp policy which is usually very inexpensive. You verify that they have license, bond insurance when they provide you with the certificate showing it current. Just like you carry auto insurance certificates in your car showing you are current, if they are licensed and insured, they will be able to get you a certificate showing it is current.

J Salter- this may have been said already ( i didn't see it), but you need to retain a local attorney and have them terminate your contract now on your behalf. It may cost a few more dollars, but they have the ability to move quickly and forcefully in case you need to file suit to recover any money. Doesn't sound like she is going to be a licensed manager, so legal remedy may be your best recourse if you're missing money.

Memphis Invest has always been an open book for investors and real estate companies alike to take a look at how we operate and what has helped to make our company so successful for our investors. It just so happens that a lot of things are coinciding at the same time: eclipsing 500 active investors working with our company, going over the 1,400 properties under management mark, opening a second city, Dallas Invest, and our Fall buying event and bus tour.

So we decided to invite any other real estate entrepreneurs to attend our event on October 19 & 20 called "Oktoberfest with Memphis Invest" and get a chance to see exactly how we've built our company. We are not worried if some attendees are not buyers, that is the case at every event. We have always been open to other companies learning from us and this event will be no different.

Some will want to come in early and see the property management company up close and others will want to see how we manage 50+ rehabs in two cities with the help of custom I-pad applications built just for our company.

Either way, if you are interested in attending, your invited! If you would like to see how we operate - there are no secrets in this business. We'd be happy to host you!

Check out the event registration page here and let us know if you would be interested in attending.

http://blog.memphisinvest.com/join-us-for-oktoberfest-with-memphis-invest

I would be lying if I answered this with an "I" in it. My family owns the company and we have superstars who run our rehab companies.

The most active jobs we've had at one time is 48 single family homes here in Memphis. They've completed 281 jobs so far this year averaging just under 17 days to complete and spending on average $18,394 per job. The entire process comes down to hiring or contracting with excellent people who see the big picture and know they are going to get consistent work if they do the job right, on time and on budget. We also use a ton of technology to monitor and track jobs as well as speed up processes that can get slowed down by having so many deals going at one time.

Brian Burke that's funny. Too bad - that would have been a great resources. Perhaps that is something several of us should band together on here at BP to produce something of our own. A graph across the country might be very powerful.

Brian Burke, I would love to see that study in a graph form where your results are charted for people to see. Data is crucial and since the original posting was about overcoming objections from buyers, i think being able to show a study that helps a buyer visualize why Zillow is a data source and not a decision making source, would be very valuable. Good post

Jerry Puckett - Any ideas for connecting to other companies and investors interested i working together there in Dallas? We're not looking to sell houses to people that day. We slowed played growth of our team there so we could get things built strategically and it is time to grow! Any ideas?

Jean K. - that is the way it goes sometimes on a forum - some topics work and others don't. Thanks for throwing out a reply though. What did you think of the article on the Bigger Pockets blog?

So few investors know how to get a property management company to reveal their true numbers and what those numbers really mean. I think your above response is excellent advice as a metric for any investor, but may be a little tough to track as you noted.

Much of what I talked about was more in line with what a property management company can actually tell you as an investor and how you can use that data to dig deeper.