All Forum Posts by: Chris Clothier

 Edit your post and hyperlink them on here if you would like!  These are great resources and to be completely fair, hyperlink yourself if it is not already.  We all need to be honest about our city and the way an investor should go about researching and investing here and the more data we can share...everyone wins.  We are all doing business and most, if not all, on here are doing it very well, so share away.

 Jason - 

As a property manager, here are the questions I advise investors to make sure they are asking before moving forward:

This is just a short list, but it is a good start and you can usually get a good read on a company from this list.  Best of luck -

Chris

7 Stunning Qualities That Make Memphis One of a Kind....

It is no secret that the owner of a company called Memphis Invest would love the city, but Memphis also bears the brunt of its fair share of knocks.  You can find good and bad in any city, but this is a list of a few things that we find particularly awesome about the city!

There are plenty of bad things about every city and our city has its' share of crap to fix. But it is a fantastic city to live in and CAN BE a great city to invest in.

The Real Estate Economy Watch published a newsletter this morning and this article caught my attention (as all good headlines will!). 

Are 39% of Appraisals Wrong?

I read the article though and it talks about a few things that I want some clarification on.  Would love for someone in the appraisal or mortgage industry to explain in a little more detail than the article does exactly what a statement like this means:

"A study by a company that analyzes appraisals to reduce lender risk found that 39 percent of more than 300,000 appraisals contained property quality or condition ratings that conflicted with previous ratings of the same property."

They say that these conflicts cause delays, cost over-runs for buyers and lenders alike, but it never says what those conflicts really are.  Anyone want to chime in and explain what is going on here and what the real ramifications are?

 Wow, Russell I really appreciate the high level of confidence you show by suggesting our company!  I think Jay's site is also a great place to turn to for information.  Thanks and best of luck with your own investments -  

 Wow, James I really appreciate the mention there!  I loved recording both of my podcasts interviews with Josh and Brandon and there are some awesome episodes on there!  This weeks is a great listen....

Hey @Charles Wilson!  I like Terry Kerr a lot and he has a very good reputation here in Memphis.  He has been in the business for a while and as you can see from comments on here, has built a good reputation over that time.  As you know, Memphis Invest only works in certain parts of the city due to efficiency and I think we rarely compete with Mid-South for properties.  In the areas and price points that Terry and his company work, there are few that do it better or know how to manage, so if that is the price point you are looking, he is a good guy and good company to review.

Best of luck to you and be sure to let me know if I can personally do anything for you!

All the best - Chris

 There might be a handful of people on here who get your Koko B Ware reference......LMAO!  But I liked it!  And..definitely not a reason to buy a house.  

@Zach Hicks - 

As a property manager, here are the questions I advise investors to make sure they are asking:

•Are You an Investor?

•How many investors do you work with?

•How long have you been in the business?

•What has been your biggest mistake as an investor?

•Do you defer maintenance?

•How many properties do you manage?

•What is your average vacancy rate?

•What is the cost of an average repair bill after move-out?

•What are your management fees?

•What is your average # of months occupancy?

•What programs do you have in place to keep tenants happy?

•Will you call me every month with an update on my portfolio?

Best of luck - 

Chris

 Absolutely Josiah.  I feel the same way and appreciate your points and your willingness to engage.  Best of luck to you as well.