“I am sick and tired of hearing about getting bigger, if we get better our customers will demand that we get bigger.” Truett Cathy
Our business philosophy begins and ends with that one statement from Truett Cathy, founder of Chik Fil A restaurants. Staying true to our business philosophy and being a family owned Real Estate Investment Company in Memphis, both help us to stay grounded and focused on the things most important to our staff, our vendors, our tenants and most importantly our clients. Through the years, the close relationships we have built with our real estate investment clients from around the country have helped us to adapt our services to meet the needs of today's real estate investor. Placing a higher premium on an investors’ access to data and up to date information as well as transparent accountability, has helped us separate our company from other real estate investment companies. As our company has grown, we have looked back and seen how a dedication to providing fundamentally sound investment properties with a commitment to high quality renovations, excellent property management and top-tier customer service has been the difference. A commitment to excellence in everything we do is a great way to describe Memphis Invest.
With 41 staff members providing service for our clients in property acquisition, renovation, marketing, management and customer service, we have made sure that the customer service and investing experience that a real estate investor has with Memphis Invest is second to none. When an investor purchases a piece of Memphis real estate from our company, they are expecting a positive investment experience coupled with peace of mind and security. We have worked very hard in developing our company to offer as predictable an outcome as possible for investors by trying to mitigate risks and track the most important metrics for investment properties.
SECURITY AS A REAL ESTATE INVESTOR
Memphis Invest was built on the notion that investors need to surround themselves with quality, proven individuals and companies. Being active real estate investors in Memphis, Tennessee, we knew the types of services and experience levels that investors wanted to see in order to feel comfortable and secure investing in real estate far from home. We set out to develop Memphis Invest as a predictable model for investors to explore when looking for that investment opportunity. Since many of our clients do come from outside the Memphis area, we knew it was important that we provide accurate information, a quality team and fast response customer service. These factors are so much more important to real estate investors than simply price. When everything is added together, a feeling of security that your investment is being well taken care of is what has led so many investors to choose our company for their investment property purchases.
In 2012, 61% of all investment property sales went to existing clients of Memphis Invest. That is extremely important to our company, as it is a very good gauge of the level of service and satisfaction that our clients are receiving. At the same time, 42% of expiring leases on rental properties in the Premier Property Management Portfolio were renewed and a majority of that number was renewed for 2 years. As the average length of stay for a tenant increases, the predictable investment outcome for each property becomes easily to calculate. For every tenant that is pleased with the customer service they are receiving, the level of security that a real estate investor can feel with their investment property increases. That is the ultimate goal for Memphis Invest, provide a reliable real estate investment opportunity where an investor can feel secure about their decision to purchase.
SOLID FUNDAMENTALS WHEN BUYING REAL ESTATE
The properties that Premier Property Management of Memphis manages for real estate investors are part of each investor’s individual investing plan. By concentrating on the fundamentals of real estate investing and also the fundamentals of great customer service, Memphis Invest offers a true turn- key option for real estate investing in Memphis. With a majority of our clients located outside the Memphis, Tennessee area, sticking to those fundamentals has been the key to our success.
There are subtle actions that an investment company can take that help improve an investment property and the way it will perform for an investor. Moves such as performing a much higher level of renovation on the front end and eliminating any deferred maintenance. Another area which helps provide a level of predictable performance is offering only 2-year leases and providing financial literacy to tenants as a way to not only improve their financial situation, but also to improve the tenant/management relationship. A happy, satisfied tenant has a much higher rate of on-time payment and a longer expected residency than a tenant who is not satisfied with the service they receive.
These two very small business philosophies can improve the performance of an investment property and are vital in order for solid fundamental real estate investment practices to work. A property should always be purchased at a good price, but with poor execution and operation as an investment, even a good priced property will perform poorly. Solid fundamentals means much more than low price. Purchasing a property with solid fundamentals means purchasing an investment property that has the highest probability of success.
With over 1,600 real estate investment properties under management and well over 600 real estate investors from around the world relying on Memphis Invest and Premier Property Management for their expertise, tracking and improving the factors that make an investment property perform are the most important tasks for our company each day.
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