Get Rich Education

#9: Discover how to create another income stream with a durable asset like real estate in Memphis, Tennessee, and not have to do the work on your own.

Listen to this week’s show and learn:

00:38  Most people only have one income stream in their life. Learn why to establish more than one.

01:57  Keith explains “turnkey real estate investing”.

03:37  Interview with Terry Kerr of Memphis, TN’s Mid South Home Buyers begins. 

05:30  Memphis, Tennessee’s economic and demographic makeup is what makes it a strong income real estate market. This is largely due to the fact that Memphis is the United States’ distribution hub.

08:16  The character of Memphis properties, and their rent-to-value ratios.

12:39  Availability of financing for Memphis turnkey properties.

13:50  Terry describes how there are efficiencies in having one company both provide and manage the property for investors.

16:04  The available inventory level of Memphis investment properties.

18:33  Tennessee’s Landlord-Tenant Law and how that is advantageous for out-of-area investors.

21:25  What makes for a good Property Manager is communication.

22:24  What gives Mid South Home Buyers a property management advantage is slightly below-market rents, better-condition homes, they do not charge the tenants an application fee, and they handle maintenance issues promptly. This attracts and retains higher quality tenants.

24:38  Current occupancy of the 875 houses in their management portfolio is 98.4%.

25:32  Mid South Home Buyers have an ongoing inspection schedule of their managed properties.

29:27  Terry states that the Property Manager is more important than the property itself.

31:12  Keith estimates how small the out-of-pocket costs are for an investor buying turnkey real estate in Memphis.

31:58  Mid South Home Buyers has warranties for investors on their turnkey properties.

32:50  Send Get Rich Education a message through our Facebook Page Messenger with what you most want to hear on future episodes. You can even tell us what you want us to ask guests.


Resources mentioned:

Direct download: GREepisode9.mp3
Category:general -- posted at: 10:00am EST