All Forum Posts by: Chris Clothier

34 Days & Counting.....

So, on Friday afternoon, just before bringing on Jesse Itzler, I'm going to have the awesome privilege of interviewing Than Merrill on stage.  

Than and the Clothier family have been friends and even colleagues for the past 8 years and we have been lucky hear and learn about his story.  Success is sometimes a path filled with wins, losses and lots of lessons and this guy has some of the best stories to share about all three. 

Those lessons and stories are why him and his business partners are by far and away some of the best real estate investors in the business.

Again, we're not selling anything!  This is not all about Turnkey real estate investing. 

This is about having a chance to hear from one of the best business building minds in the industry and I get to dig in and ask questions about his road to becoming an incredible real estate entrepreneur!  

Join Memphis Invest and our Friends, Clients and Guests October 6 and 7 in Dallas, TX.

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36 Days!

@Joe Fairless and @Aaron Norris...

I am excited to get a chance to talk to both of you guys on stage!  

Technology is going to be a huge game-changer and Aaron Norris, whose family owns and operates The Norris Group is going to share about how technology is changing the landscape for real estate investors and what we can expect.

As for Joe Fairless, what can I say.  I was super-impressed hearing him speak in Denver back in February.  He has literally laid out his plans for building his personal portfolio and for controlling over $100 million in real estate assets and then simply...went to work and followed-through.  

Not to mention, he has by far the best Daily podcast on the internet and the longest-running daily real estate podcast!

Come see Joe and Aaron with us ~ 

No Selling 

No B.S. 

No cost to attend

Breakfast and lunch both days on us, plus a networking party on Friday with all of the speakers and attendees.

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THIS is our kind of event.  

This is what we do when we hang out with our friends, colleagues and mentors.  We share stories, ask questions and network.  Only difference is, this is the kind of network that most of us rarely get the chance to be a part of! 

Come Join us October 6th & 7th.  Registration link a the top!

(I'm inviting those that are my colleagues here on BP from the DFW area ~ would love to meet you face to face in October!)

@Eden Markowitz, @Rivy S., @Lance Robinson, @Hiron Fernando, @Bret Miller, @Kendall Phillips, @Brian Dills, @Tim Herriage, @Chris Colvard, @Jordan Franklin-Mansuo, @Joe Butcher, @Dev Horn, @Christopher Winkler, @Bryce Y., @Larry Seith, @Jeremy Wright, @Stinson Bland, @Jason D., @Kathy Armstrong, @Nicholas Stram, @Dmitri L., @Jacob Michaels, @Billy Jordan, @Jeffrey Garvin, @Michael Mayo, @Ryan Swift, @Dustin Miles, @Sean McComber, @Adrian Fernandez, @Emanuel Skinner, @Theo Duckett, @Carolyn L., @Tyler H., @Jerry Puckett, @Angie Menegay

 See if you can find a local mentor to have coffee with.  Find a real estate investor there - you can run an ad right here on Bigger Pockets.  Offer to buy them a cup of coffee or breakfast, lunch or dinner.  Make it worth their time to spend a few minutes with you so you can ask their advice.  Make sure it is someone who is investing out of state.

Listen.  Be patient.  Spend time with investors who have done exactly what you want to do.  Be open with them and ask honest, but not mundane questions.  In other words, listen to what's being shared and learn.  Ask good questions about your process and what you think is most important and then adjust based on the answers you hear.

Then, try to find a mentor or group of other, experienced investors here on BP that you can lean on with your plans as well.  Plenty of investors, who have nothing to sell to you, will be happy to share with you how they have built successful, passive and out-of-state investment portfolios.

What you've done so far is excellent, BUT DO NOT BE IN A HURRY!  Be patient and precise with your reasoning and actions and you will be fine.

Best to you!

Hi @Tanveer Ahmed.  Welcome to the site!  

Unfortunately, you are not going to make money passively investing in "Cheap" or "old" housing.  Investors will tell you that actively investing in those two descriptions for properties can be very lucrative, but will also be very time consuming and you have to work hard to keep 60% of the rental revenue.  You have to work VERY HARD!

Passively investing in low price, cheap, old houses in low-demand neighborhoods is a great way to lose money, but not make much money.  Any one telling you that your expenses will be 40% is either lying to you on purpose to sell a property or they are simply too new or uninformed of the real numbers.  You will be lucky to keep 50% of your rental revenue and, over time, will be lucky to collect 10 months of rental per year as an average.

So be prepared to only realize 84% of expected rental income and then will lose 50% of that to taxes, insurance, management, routine maintenance and playing catch up on deferred maintenance.

Run your numbers off of those calculations and if you like what you see, then you will at a minimum have a more realistic outlook and expectation going into your investment.

I'm not sure there is much difference between the two markets.  Jacksonville will be more expensive and the houses are constructed differently because of proximity to the coast.  I'm not sure what the term are, but the houses are block built houses and built for the area.  In Indianapolis you are going to have houses with basements.  I'm not sure that is a negative, its just something to be aware of in that they are built differently.  

Beyond that, when talking about buying cheap houses with $700 rents, understand that these are not nice areas.  These are not high demand areas, regardless of city.  That is why you have to be careful as an out-of-state, passive investor.  A person who wants to rent a property for $700 is earning somewhere between $22,000 and $30,000 a year.  Maybe they are earning as much as $35,000 a year.  They are one lost pay check away from having to make a decision about what to pay for.  Do they pay for food, medicine, travel to work, etc.?  Or do they pay rent.  They are not as stable as a higher income earning household that may be looking for a rental payment between $1,000 and $1,500.  

Will it costs you more to buy nicer properties in more stable areas and neighborhoods? Yes.  There are absolutely home in Indianapolis and Jacksonville that are better long-term buy & hold properties at a price point that is more stable and a more reliable investment for you.   

Whether or not you can trust someone and the information they are giving you comes down to your own intuition.  Whether you travel there and meet someone face to face or simply have phone conversations with them, do your own research and ask questions of local investors.  You will quickly learn who gives you good, unfiltered information and who is trying to steer you to doing business with them. 

I definitely think you can find some really good individuals and companies located in Indianapolis and Jacksonville to do business with.  That is something I would definitely look for in your situation.  I would want to company I worked with to be located in those cities.

Best of luck as you get started!  Reach out with questions as you start navigating the site.

By now, we are well aware of the unprecedented and devastating impact Hurricane Harvey has had on Houston. Many of you, have friends and family that have been displaced by this tragic event and are literally left with nothing. 

We know there are many people that are suddenly homeless and are in need of a place to stay. Currently, Premier Property Management Group has very little vacancy, yet we do have 101 properties available in markets near or a short distance from Houston. Memphis, Dallas, Little Rock and Oklahoma City all have properties ready for immediate occupancy if needed.  

While we don't typically do short-term housing, we are encouraging our team to work with our valued clients and help support those in need.  We are asking that all of our clients work with our residents to help them in any way possible - including accepting short-term rentals as a way of assisting those with immediate needs.

If you or your loved ones, friends or even displaced residents are in need of immediate housing, please reach out to our team.  We are not allowing our rents to be raised during this surge in demand, however, will allow for modest increases to offset short-term rentals.  

If you have an immediate need or know of someone who needs housing or supplies, please contact me with a Direct Message and I will forward contact information for the Disaster Relief team.

As of now, we have been fortunate as a company.  Our team and their families are safe, our offices did not suffer water damage and we have relatively few problems with our properties.  We were lucky.  

Many are without basic housing and we are encouraging everyone to do what we can to provide this basic need without raising prices.

Two large pods will be delivered to our Houston offices shortly filled with basic food, water, hygiene and clothing supplies for residents, work crews and others affected by this storm.  If you would like to contribute to those supply efforts you can reach out to Nate as well.

As we learn more about the current situation with Hurricane Harvey and housing availability, we will update everyone.

We are hosting the kind of event we LOVE to attend!  

Surrounded by successful entrepreneurs, in a relaxed atmosphere and a chance to hear from speakers that most of us never get the chance to spend time with.  THIS is your chance to attend a one-of-a-kind event!

These are our friends...and they are some of the most brilliant business persons you will ever have a chance to meet.

Why is it free?  

Because the Clothier family is underwriting the full cost of the event.  We are super excited to hang out with our friends, to hear from them and learn from them, plus to hang out with all of our clients!

If you want to learn the REAL story of what it is like to invest with Memphis Invest, this is the event for you to attend.  There will be over 100 Memphis Invest clients in attendance as well as a panel Q&A with 6 long-time investors.  Several own more than 5 properties with Memphis Invest and this is your chance to hear from them directly!

PROXIMITY IS POWER!!

Successful real estate investors surround themselves with other successful business persons and real estate investors.  People that we can learn directly from and profit from their experiences.  In this environment, experience matters.  

NO ONE has as much experience in the Turnkey Real Estate space than Memphis Invest!

Managing over 4,400 properties for 1,600 investors, Memphis Invest has been assisting passive real estate investors for 14 years.

the EXPERIENCE MATTERS EXPO!  October 6th & 7th

We are so excited to have over 300 investors come meet our guests, our speakers and each other. This year, the BEST part of our event is our guest speakers! We will have SUCCESSFUL entrepreneurs spanning every topic, that will share what's COMING NEXT in the real estate market and what 2018 and BEYOND holds for us!

You'll have a chance to speak with:

• A BILLIONAIRE business man
• A former professional football player TURNED real estate entrepreneur
• A family who has founded 11 businesses reaching $10 million in annual sales each, with several topping $50 million and one topping $100 million ANNUALLY.
• A forward-thinker specializing in studying and preparing the real estate world for how TECHNOLOGY is going to COMPLETELY change how we invest, how we manage and how we build wealth with real estate.
• One of the GREATEST business minds and product marketers who for 30 years has bought, branded, built and sold businesses.  His specialty is leveraging others' expertise, time, and money.
• The founder of the Longest Running, DAILY, real estate investing podcast and an incredibly successful multi-family investor and syndicator.
• A WALL STREET Lender who has successfully lent over $100 million to real estate investors and companies. 
• A professional, Self Directed IRA specialist who has assisted over 4,000 families and individuals with setting up their financial future.

This is YOUR CHANCE to hear our friends, some of the best and brightest business minds, sharing their knowledge! 

HERE IS WHO YOU WILL HEAR FROM FRIDAY & SATURDAY:

KENT CLOTHIER SR.: Real estate entrepreneur and founder of multi-generational, family-owned businesses, Memphis Invest, Premier Property Management Group, PPMG of Texas and Premier Realty.  The weekend kicks off with Kent Clothier, Sr. being interviewed on stage by Kent Clothier, Jr. - DON'T MISS IT! 

With 30 years of REAL-WORLD Customer Service Experience, hear WHAT IT TAKES to build a business actively managing over $500 Million in asset value for clients from around the world.  And...what the plan is to stay #1 on top of the Turnkey real estate investing world!

JESSE ITZLER: Entrepreneur, endurance athlete, author of the best-selling book, 'LIVING WITH A SEAL', owner of the NBA Atlanta Hawks  and Clothier family friend.  Talk about surrounding yourself with the best...Jesse is one of the BEST we have ever met!  

We are super-excited that Jesse is going to join us and will KEYNOTE the Experience Matters Expo!!  

Jesse will encourage and inspire those looking to make themselves better everyday.  He will share his professional and personal journey, and share how you can manage it all while still keeping focus.

JOE FAIRLESS: Author and also the host of the immensely popular, "Best Real Estate Investing Advice Ever", the world's longest running, DAILY, real estate investing podcast.  We are going to have an AWESOME On-Stage Interview with Joe!

While he is extremely successful and passionate about helping others meet their investment goals, his ultimate goal is to help you be in a position to 'DO MORE GOOD'. Joe's story is not only inspirational, it is also one we can all relate to. We are looking forward to INTERVIEWING Joe on stage and sharing great insights with everyone!

AARON NORRIS: Aaron is Vice President of The Norris Group which specializes in California hard money lending, trust deed investments, real estate investments, and real estate investor resources.  He’s also a huge fan of cutting-edge technology and real estate development.

We are going to have the chance to INTERVIEW Aaron right on our stage and discuss the bad-*** topic of real estate technology and how Artificial Intelligence, BOT implementation and Virtual Reality technology are going to change the landscape for real estate investors.  Aaron simplifies some of the biggest technology trends and specifically breaks it down on what these advances could mean for real estate and the economy!

THAN MERRILL: Than and his business partners are friends of the Clothier family and have built several of the MOST SUCCESSFUL real estate investment and real estate education businesses ~ period! 

He is the founder of CT Homes, LLC and FortuneBuilders.com, and is a nationally recognized expert in real estate investing, real estate education, entrepreneurship, and marketing. This is a remarkable opportunity to hear from Than just how hard the road to success really is...and why we should all keep going!

ROLAND FRASIER: Lawyer, author, speaker, serial entrepreneur and marketing expert. Roland started a law practice providing services to entrepreneurs, business owners, marketing and entertainment industry clients. Now for 30 years, he specializes in buying and selling companies as well as providing marketing strategies.

Roland has had an incredible impact on the Clothier family and our own strategies and growth.  Roland is going to share his expertise in leveraging others' time, resources, knowledge and expertise to your advantage.  There are very few people we have met in our time in business that have the strategic and forward-thinking planning ability of Roland Frasier.  This is going to be awesome!

AMANDA HOLBROOK: Amanda is a passionate driving force in the world of self-directed IRAs for 10 years and running. Excelling at the largest self-directed firm in the country lead to having spent 5 successful years in the turnkey real estate world. She will empower you to gain financial freedom by providing knowledge, opportunity, and support through self-directed IRAs.

SCOTT GRUBER: President & CEO of Bridge Capital Thrift & Loan where he leads a team focused on the common sense approach to supporting the individual investor. Scott focuses on providing support to domestic and international investors who seek finance options beyond traditional banking solution. He has supported funding for over 10,000 properties and provides decades of experience in the debt capital markets.

REGISTER NOW!- https://hubs.ly/H08r2ZX0

PLUS!

Multiple Panel Discussions on Saturday: 
- Self Directed IRA formation and successful investing
- Portfolio Diversification - multiple markets, multiple properties
- LLC Creation and Borrowing - creative financing
- 4 Opportunities to Network with other successful investors
- Be the first to hear about new markets (we are working in 5 markets now and researching more!)
PLUS the Clothiers on Stage!

Please know that at this event, NOTHING is for sale. No Houses, No Books, No Programs, No Future Events. Attending this private event AT NO COST is a time for Memphis Invest to show real estate investors what we do best. 

Many have tried to imitate our company, but there is a high level of performance, dedication and commitment along with an incredible team that makes Memphis Invest the best of the best! 

Turnkey property management has been our pride and passion for almost 15 years, and we are the BEST at what we do. 

The Clothiers have founded 11 businesses reaching $10 million in annual sales each, with several topping $50 million and one topping $100 million ANNUALLY. We manage over 4,600 properties for more than 1,600 investors, and have an EXTREME passion for what we do. 

This is an opportunity for US to show YOU what we’re made of, and how we can help you. Our panel of investors will share THEIR stories and answer YOUR questions, as they discuss how they got started in real estate investing, and talk about their experiences with Memphis Invest.

The Clothiers and our portfolio advisers will be ready to answer your questions as well! Hear from our team on HOW we do what we do, and WHAT we can do for you. Real estate investing can be learned the hard way if not done properly, and we hold these events so that ANYONE who is interested can find out more at NO COST.

EVENT DETAILS

Friday, October 6 • 8AM - Check In at the Grapevine Palace Theater on 300 S. Main St.
• 8:30-4:00 - Hear special guest speakers JOE FAIRLESS, THAN MERRILL, ROLAND FRASIER, AARON NORRISand we'll be ending our afternoon with JESSE ITZLER!

• 12:30-1:30 - Light lunch provided by Memphis Invest
• 4PM - Cocktail hour - Mix mingle and network with other investors!

Saturday, October 7
• 8:00AM - Kick off the day with AMANDA HOLBROOK & SCOTT GRUBER and then Hear from REAL passive real estate investors, sharing their experiences owning passive real estate portfolios. 

ASK YOUR QUESTIONS, GET REAL ANSWERS! 

• 12:30 - BBQ lunch will be provided PLUS take a tour of our Grapevine office!

ABOUT MEMPHIS INVEST

Memphis Invest was founded 14 years ago, and has grown into one of the premier real estate investing companies in the country. We manage over 4,200 properties for more than 1,600 investors, and have an EXTREME passion for what we do. We strive to make your experience and investments EXCEED expectations! With our expertise, amazing team and drive to always be the best at what we do, we are confident that Memphis Invest will be the best place to start your investment journey!

Featured Speakers

AARON NORRIS

VP of the Norris Group, web tech and marketing trends professional and vlog & podcast host.

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THAN MERRILL

Businessman, television personality, and former professional football player. He is the co-owner of the real estate company CT Homes and the real estate investing educational company FortuneBuilders Inc.

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KENT CLOTHIER SR. & KENT CLOTHIER JR.

Don't miss Kent Jr. interviewing Kent Sr. Friday! Kent Jr. is founder and CEO of Real Estate Worldwide and REI Marketing LLC, focused on real estate education and marketing.

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ROLAND FRASIER

A strategic growth and scaling expert specializing in increasing companies' current level of income and profits.

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JESSE ITZLER

Entrepreneur, Author, NBA Atlanta Hawks owner & Clothier family friend

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JOE FAIRLESS

Author, host of “Best Real Estate Investing Advice Ever”, a DAILY, real estate investing podcast.

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We'd love to see you on October 6th & 7th!  Register your seat now.... - https://hubs.ly/H08r2ZX0!

Welcome to the site!   Love your three books you shared by the way.  Meditations is a book I constantly reference.  Hemingway is my favorite writer and just gave my 12  yr old son the hitchhikers guide.  Great choices!

Let me know if I can help you navigate the site and certainly if I can't help you find answers to your questions.

@Bill S. - No reason for us to be mentioned in a pr piece for the hedge fund industry.  We are in Memphis and now making some inquiries into Jackson, but have stayed away from the Nashville area because of fast moving price points.  We met with many of the players mentioned in the article when they wanted to learn about our company and how we managed our properties, but beyond that, we don't have a connection to the industry or a reason to be mentioned in the article. 

@Bradley Pietrzak,

I agree with @Jay Hinrichs and his solution for your question.  Connect with  @Engelo Rumora and his team.  I think you will find that they provide the solution you are looking for.  You want a reputable company that looks after your needs as an investor and that is the reputation they are earning.  With the ability to refinance after a period of seasoning, you can cautiously and methodically build your portfolio one cash purchase at a time but do it in a comfortable and safe time period.  

It also gives you the flexibility to make any adjustments as you go along.  So if you prefer one type or style of property or investment over another, it gives you time to make adjustments as you go rather than buying a bunch at one time because they are available and then learning later that they don't exactly fit your criteria.  

Engelo and I have spent time networking and masterminding over what makes a quality turnkey investment and company.  I am not a fan of the price point, but I can tell you that you'd be hard pressed to find a company who wants you to be as successful an investor as he does.  I would put some time into learning how to buy with your cash and refinance and then put a plan in place to slowly start developing your portfolio. 

 Hi Sherry,

It depends on the exact neighborhood, but given the intersection you listed here are some thoughts.

I bought my first house here in 1997.  It was an area within the path of progress.  I sold my property in 2001 for what may still be the highest dollar amount in that particular neighborhood ($134,000).  I think the area is fine for investment and we manage several properties in the area.

However, know going in that the schools servicing this area are good for Memphis.  They may not be great on national standards, but they are newer built for the most-part and are clean, well-kept and get good scores.  The growth of the area was not well-thought-out so you have streets that are single-family ranches that suddenly change into attached homes and suddenly change into attached homes with rear service garages.  There is a lot of retail in this area and there are even new commercial developments going in nearby.

There is a lot of demand to get to this area of town because of those retail services and it is relatively close to Germantown road, Walnut Grove road, Highway 240 and Highway 40.  All are major thoroughfares for getting around Memphis in all directions.  One other positive is the proximity to one of the largest urban parks in the country, Shelby Farms Park.  The part underwent a multimillion dollar renovation and re-opened to huge fanfare late last year.  Kimbal Musk, Elon Musk's brother, opened a restaurant in the park and is opening a second restaurant in the Sears Crosstown development later this year.  I believe Memphis is still the only city in the country with two of his restaurants.

This area will not necessarily appreciate quickly, but should hold value and rise moderately over time.  As for occupancy, given a good property management company and a clean property, you should expect to have low vacancy in this area.

I would however caution you against buying an attached home and in my opinion do not buy in the gated neighborhood just to the east of this intersection.  Single family homes, on traditional lots in this area and you should be good.

best to you -