Archive

Archive for February, 2010

Memphis real estate investors, Kent Clothier is hosting a free Webinar for business owners

Learn from the Pros! Kent Clothier on Building your business and achieving your best!

REGISTER HERE!
Sunday March 7th
8:00 PM CST
Live & Content Only!!

Kent Clothier has been in the business of “succeeding” for over 40 years and is showing
no signs of stopping anytime soon.  Now you have a chance to hear from Kent Clothier in
a one hour, Content Only Webinar, from an intimate setting where he will discuss:

– Stretching your business muscle
– Succeeding when others fail
– Developing a winning attitude
– Developing an “All-In” attitude

Kent has been an entrepreneur for the past 30 years and has been instrumental in developing
one of the most successful family owned real estate investing firms in the country.  Kent and
his sons operate MemphisInvest.com which assists hundreds of real estate investors each
year with developing highly profitable portfolios of discount real estate investment properties
in Memphis, TN.

They also operate a large property management company in Memphis, TN. named Premier
Property Management.  Today, they manage over 500 properties for real estate investors
nationwide
and offer a complete turn-key package for passive investors.

Join Kent on Sunday evening as he spends an hour discussing his past, his present and what
he sees for the future!  There will be great insights and inspirational keys on this call for anyone
who wants to succeed in business and investing.

See you on the call!

Sunday March 7th
8:00 PM CST
Live & Content Only!!

https://www2.gotomeeting.com/register/437661898

Why I can not buy every Memphis investment property!

I truly have one of the great jobs in our company!  I get to talk to investors from all around the country every day and help guide them as they decide whether or not to invest with our family owned business.  I get asked a lot of great questions and I can tell that many of our clients have really thought through their decision to invest in Memphis real estate with our company.  That is a true blessing.

Here are two of the most often asked questions that I get asked most often when talking to real estate investors interested in investing in Memphis real estate.  “If the opportunity is so good in Memphis, then why are you not buying all the properties?  Why is Memphis Invest selling these properties?”

The answer is very simple and should be a very exciting one for investors looking to build their portfolios with low cost, cash flow properties at discount pricing.  I recorded a video to help explain:

While we are adding to our own portfolios, we are not able to purchase EVERY opportunity we get and are even passing on other great opportunities.  Memphis continues to be a hotbed for real estate investing.  Many out-of-state investors are finding Memphis a very attractive alternative to investment real estate in their home states.  Hopefully, the video helps to explain the reasoning behind our decision to offer our services and build our family owned company.

As much as we would like to keep every property for our own cash flow portfolios, the opportunity is simply too big and too good to keep to ourselves!

Best of luck with all of your investing and hope to hear from you soon at http://www.MemphisInvest.com.

Chris

Categories: Uncategorized

7 Reasons For Real Estate Investors to Invest in Memphis Investment Properties

In case you missed it, Memphis has been named not only as one of the most affordable markets for home purchases today, but it has also been mentioned as one of the only markets expected to see positive appreciation in 2010. Now, the appreciation is expected only reach 1.5%, but hey….anything positive right now is better than the alternative!

Memphis is highly undervalued real estate market right now as far as property values are concerned – 21% under value in fact!  Those are only a couple of the factors that are making Memphis, TN. a highly attractive real estate investment alternative. Take a look at some other facts and figures that are playing into the market set-up today.

  1. Memphis’ Median Home Value fell to $99,965. VERY AFFORDABLE!
  2. Memphis is 21% undervalue entering 2010.
  3. The over-all consensus is that Memphis will continue to see opportunity for investors as home prices remain below value. A second wave of foreclosures will keep the supply side high and pricing for investors well below value in 2010.
  4. Over 48% of the SFH in Memphis are rental properties. Unlike other similar markets, Memphis is a stabilized rental city where a majority of the single-family residences are non-owner occupied rental units. There are more renters than owners in the city of Memphis and not enough properties of higher quality.
  5. Mortgage rates are expected to climb to an average above 6.25% by year end which remains HISTORICALLY low even after the climb!
  6. With the Memphis job market predicted to see growth in the supply, defense, medical, staffing and distribution fields, demand for Memphis rental housing should continue to be strong.
  7. Analysts believe job market will stabilize with unemployment around 6%-8% for Memphis.

In my opinion, 2010 will be another fantastic year for investors who choose to invest in Memphis real estate market. There are so many unique circumstances which combine to make Memphis a “gold mine” city for investors. I believe that it will take years (3-5) best guess for the Memphis real estate market to turn around. This is actually a very positive step for investors looking to buy Memphis investment property.

There will be several more years of depressed pricing and an ever increasing demand for quality housing to be provided. When the housing crisis begins to abate, we should see Memphis property values return to normal levels very quickly and investors who purchased today at 80% of current value, will suddenly find themselves with 40%-50% equity. As the economy turns around, not only will values go up, but so will rent rates as supply declines and demand remains. All of this leads to a bright future for any investor who is purchasing properties for investment in Memphis today.

About the author:

Chris Clothier is well respected real estate investor as well as a top Investment Consultant for real estate investors in Memphis, TN. Active speaker, consultant, and seminar leader for trending topics in real estate investing, Wealth Building, Social Media and Marketing.

Visit my homepage at: http://www.MemphisInvest.com
Follow me on Twitter: http://twitter.com/chrisdclothier

If only Memphis knew how great the city of Memphis is for Real Estate Investing!

I was reading a blog today from Eric Barnes of “The Daily News” about Memphis, and in the blog he talks about how tirelessly Mayor Wharton is working both behind the scenes and out in front to promote the city of Memphis.  At times, it seems like he is working as hard to promote Memphis to the outside world as well as to the Memphians themselves!  I don’t think we know yet how lucky we are to have Mayor Wharton in office.

Eric’s blog points to a recent article in The New York Times about the culture, the food, the music and the history located right here in Memphis and how wonderful the city is to outside visitors.  I love the city of Memphis and many of the quirks and locations that are often hidden in plain sight.  I love telling others, especially those who live in the city how great I think Memphis is for raising kids, playing sports, getting outside and living life.

In my job however, I have a real tough time explaining to my fellow Memphians why Memphis is a great city for real estate investors.  You see, we host investors on a weekly basis from around the country in our offices, who are coming to Memphis because of the HUGE advantages they get when they invest in Memphis real estate.  They realize that San Diego, CA., Boston, MA., Allentown, PA., Chicago, IL. and Phoenix, AZ. do not have the same price points for the style of house they can purchase in Memphis.  More over, they cannot purchase those properties in their home cities and still turn a positive cash flow.  They also realize that by investing in a great city like Memphis, with a company like MemphisInvest.com, they have a long-term partner working with them to build a strong portfolio.

Over the last few years, as the economy has soured, Memphis has improved dramatically as a real estate investment alternative and many investment properties in Memphis provide a steady investment return for investors today.  Those investors from around the country that fly into Memphis every week, see  investment properties in Memphis as an absolute “gold mine” when compared to other similar cities.

With Memphis’ diverse culture, steady job opportunities, abundant affordable housing, bright outlook for sustainable job creation, proximity to higher education and location as the distribution HUB for the United States; the city has a bright future for those that choose to invest in it’s neighborhoods and people.

Now if we could only get more Memphians to understand what outside investors already know!!

Invest in your city, in the people and invest in the neighborhoods.  Lift the city up and help remove it from all the lists that have shone a dim light on Memphis in the recent past.  I can tell you from experience that real estate investing is not always easy and can be fraught with peril if you do not have a plan.  I have been burned as a real estate investor and have lost money as well as made money.  But those experiences, good and bad, are what give me the insight and the knowledge and the desire to get let everyone know how great our city is.  An investment in the future of Memphis will not only pay off as a smart investment, it will rebuild our city!

Check out Eric Barnes’ blog post if you get a chance and read the articles that he sights about Memphis.  If enough of us believe in the city and it’s future, I promise more will get on board and we can help our industries, our leaders, our government and the entire city reach its’ potential.

Chris

Categories: Memphis News

Memphis Invest Real Estate Q&A call on Rehab Services with Chris Clothier & Ryan Flannery

Chris Clothier hosted  Ryan Flannery of Memphis Invest Rehab Services for a half hour Q&A call on Tuesday February 9th at 12:00 noon.  In case you missed the call, we recorded it and placed here online for you to listen at your own convenience.

Click on the link below and when the Memphis Invest Screencast page opens up, click on “download this media”. It will allow you to download the windows media file and listen on whatever media player you prefer!

Memphis Invest Question and Answer series

The questions sent in ahead of time were fantastic and included topics such as:

  • Amount of time for the rehab process?
  • What is included in a rehab budget?
  • How are budget overages handled?
  • How do you get such low prices?
  • Who handles property maintenance calls?

We want to thank everyone who dialed in and listened live.  We enjoy doing these calls a couple of times a month and have some good topics coming up in the near future!

Chris

Categories: Recorded Q&A Calls

Learn to Invest in Memphis Investment properties with these guys!

Kent Clothier and JD Esajian of A&E’s “Flip This House” and Fortune Builders, talk with the hosts of News Channel 3’s “Live @9” in Memphis, TN. about the great opportunities that Memphis investment properties offer investors looking to invest in Memphis real estate.

From the factors that make Memphis a great investment market, to the ease of dealing with the largest family-owned investment real estate firm in Memphis, the conversation is all about how to get started and make money in today’s Memphis investment property market.

Fortune Builders, owned by Than Merrill, JD Esajian and Paul Esajian has teamed with MemphisInvest.com to host 5 buying events here in Memphis, TN. in 2010.  The focus of the events is to give outside investors an opportunity to come to Memphis and meet the whole team from the Clothier family, the rehab crews, the property managers and rental agents.  Investors are even able to meet the closing attorney as well as insurance agents.  Hundreds of properties have been sold to investors over the past couple of years at the Ultimate Cash Flow Buying Tour.

Be sure and check out what is in store for April!  With the event being held in beautiful downtown Memphis at Autozone park, this one is sure to be the biggest event to date.  You can get more information here:

Categories: Uncategorized

Will FHA rule changes help Memphis real estate investing?

FHA Waives 90 Day Flipping Rule

Does that mean it will be easier to purchase Memphis investment properties?

With a glut of foreclosures plaguing the nation, the Federal Housing Authority (FHA) is temporarily removing restrictions on investors who buy and sell homes within 90 days.  “FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties,” FHA Commissioner David Stevens wrote in a statement last month. “This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity.”  The FHA is only lifting the ban for one year and there are rules. You can’t flip the property for more than a 20 percent profit without getting two appraisals in most cases and the transaction must be at “arms-length” so friends don’t get together to drive up the home value and then snag some unknowing buyer.  The FHA program, like the Fannie Mae 3.5% rebate that we talked about here yesterday, are designed to get rid of the glut of foreclosures on the market, but some people are wary of them.  Diana Olick says, ” Look, I get it.  The United States saw roughly 2.8 million foreclosure filings in 2009, and many of those properties are still sitting on the banks and on Fannie and Freddie’s collective books. As continued foreclosures push inventories higher, they push home prices lower.

——————–

So what does all the legal speak mean for us as investors or to our clients from around the country who invest in Memphis real estate?  It means closing investment property with bank financing in under 90 days just got a lot easier as long as there are banks who are willing to fund the deals.  As with most FNMA programs, just because FNMA says they are lifting the rule, does not mean that lenders are going to be jumping into the fray.  Most are going to take a wait and see approach and make sure that no additional rules changes are going to come into play.

FNMA is notorious for changing the rules mid-game and even going back after the fact and making lenders purchase loans back that do not meet the changed rules.  That history makes many lenders wary of under-writing to the new program.  For now, investors who are prepared to actually make an investment, i.e. – put 20% down on the purchase of an investment, are going to continue to reap the benefits of access to the lending community.  There deals will be under-written in under 90 days and the investment will begin to pay immediate dividends.

About the author:

Chris Clothier is well respected real estate investor as well
as a top Investment Consultant for real estate investors in
Memphis, TN.

* As a top Tennessee foreclosure and pre-foreclosure
expert, he oversees more than  20 completed transactions
monthly in the REO Wholesale arena.

* Long-time  real estate investor, Chris owns
a highly profitable portfolio of Memphis investment
properties.

* Owns of one of Tennessee’s largest Real Estate firms,
with his family, servicing clients from around the country
with the development of highly profitable portfolios of Single
Family investment properties in Memphis.

* Active speaker, consultant, and seminar leader for
trending topics in real estate investing, Wealth
Building, Social Media and Marketing.

* Follow me on Twitter: http://twitter.com/chrisdclothier
* Join my Facebook Fan Page: http://www.facebook.com/MemInvest* Join my network on LinkedIn: http://www.linkedin.com/in/chrisdclothier

Categories: Investment News