All Forum Posts by: Terez Jones

Hi Marie...this is probably one of the worse situations that I've heard of.  A PM nightmare!  I am glad you severed business relations with this person.  I am sure it has caused you to loose a lot of faith in property management companies, but just know...the really good ones - WE DO EXIST!  I know you are states away from Memphis - so is vitally important to have local experts in the Memphis market managing your portfolio.  PM is so much more than just collecting rent.  It is having an entire team behind you...like leasing, underwriting, tenant communications, maintenance, brokerage, operations, business development and ect.  Local boots on the ground being your eye and ears taking the stress out of managing your properties.  I would love to connect with you soon!  Thanks!

Hi Abigail,

I've worked with many investors that were not satisfied with their current PMs. Property management is so much more than just collecting rent.  It is important for investors to have an entire team working to help them successfully manage their portfolios.  

Marketing, underwriting, tenant communications, brokerage, acquisitions, maintenance, rehab and etc... are some of the teams that work to help investors be successful with their rentals.  I think that working with a company that is nationally branded but utilizes local experts in each market is the way to go.   

I would love to connect and see how we could help.  Thanks!

Yes...I would like to connect with a PM company in West Memphis as well.  I've had many investors that I could not provide service for in that area.

Shlomi,

Terez Jones here...Let's connect soon!  We manage many properties in the mentioned zip codes and our local experts know the area well.  Many of my out of state investors rely on us to be their eyes and ears (boots on the ground) here in the Memphis market.  I look forward to speaking with you soon.  Thanks!

Hi Walter...I have heard this story before and it sucks every time I hear investors going through these type of problems!  When smaller PM companies don't have the resources, manpower, and processes in place...they tend to let things like this fall through the crack.  I would be more that happy to connect with you and talk about taking all the stress out of managing rentals.  My information is below.  Thanks!

Mandela Shaw...I would be more than happy to discuss the Property Management side with you.   We have many creative ways to keep cost down.  Let's connect soon.  

Thanks!

Hey Chris...

Many investors in the area find it super helpful to partner with local experts that can be their eyes and ears.  I would be happy to assist and connect with you!

 Hey James I have a very good contact for you.  I can send you his information and let him know you will be in town next week.  I know him from my BNI group and the work that he has done.  Thanks!

Ready to invest in Memphis rental properties?

Memphis is one of America’s most affordable cities, yet it offers a diverse economy, excellent location, and plenty for residents to do.
This makes it a hidden gem in an environment where finding good deals in more prominent markets is getting harder.

Here are the benefits of owning Memphis rental properties:

💰 1. Steady Income: Most Memphis rents are trending gradually upwards, signaling potential growth in the future.
The right Memphis rental can offer passive income after repairs and upgrades if you hire a good property manager.

💰 2. Diversification: Real estate has a low correlation with stock and bond performance. Therefore, it could be a great way to guard your wealth against declines in the stock and bond markets.

💰 3. Significant Tax Savings: The IRS offers plenty of tax deductions to real estate investors. Speaking with a tax professional to determine what tax breaks you qualify for and how much is a wise choice.

➡️ Mortgage Interest DeductionReal estate investors cannot use the homeowner mortgage interest deduction. However, they can deduct mortgage interest as a business expense.

➡️ Property DepreciationDepreciation lets investors reduce their taxable income to account for property wear and tear. This is one of the largest deductions investors can take.

➡️ Operating ExpensesThe IRS lets you deduct “ordinary and necessary” expenses paid to manage your Memphis rental property and run your business (i.e. advertising, pest control, repairs and improvements, tenant screening, utilities, and more.)

➡️ Property Taxes and InsuranceInvestors have to pay property taxes and insurance regularly. But, fortunately, many can deduct these on their income taxes.

➡️ Travel ExpensesInvestors who must travel to manage their property might be able to write off related travel expenses. 

💰 4. Memphis’s Economy:Memphis has a relatively diverse economy. Major sectors in the area include healthcare, education, government, and trades/transportation/utilities.

💰 5. Geography and Amenities:Memphis is not far from the Midwest nor the Deep South. It sits on Tennessee’s borders with Mississippi and Arkansas, making it the Arkansas-Mississippi-Tennessee tri-state area hub. 

💰 6. Affordable Prices:Memphis real estate is reasonably affordable compared to cities of similar size. The housing market is somewhat competitive, with a $200,000 median listing price. Investors may be able to enter this market fairly easily.

💰 Final Thoughts on Owning Rental Properties in Memphis: Memphis can be a great market for rental investors. It’s one of America’s most affordable cities, yet it boasts a healthy economy, a good location, plenty of history, and a thriving art and cultural scene.

Are you sold on investing in Memphis real estate?