MemphisInvest.com Leads Home Sales in 2011 for its Region
Trailing only Fannie Mae and the Department of Housing and Urban Development,
Memphis Investment Property Company is the largest home seller in the West Tennessee region, according to the Chandler Reports February 2011 numbers for state real estate transactions.
After leading the metropolitan area for the most transactions in 2010, the family owned real estate company has began 2011 by being ranking first in both January and February home sales.
Looking to revitalize vacant and foreclosed properties in the region, the company has been working with local, national, and international real estate investors to purchase these assets.
The real estate company closed 26 discount priced investment properties for real estate investors in January and followed that with 25 in February. For the month of March, the number of transactions expected to close is 26.
The total transactions for the first quarter of 2011 is expected to total over $4.5 million in property sales and an additional $1.17 million in property renovations.
In the same time period two smaller area wholesale operations, Memphis Investment Properties and Memphis Cash Flow, closed 27 and 24 transactions respectively.
“We set a goal in the fourth quarter and made a plan for how we were going to close 75 plus transactions in the first quarter of 2011,” said Marq Cobb, director of client relations for Memphis Invest. “Great customer service and over delivering for your clients does not happen by accident. From our marketing department, to purchasing, renovations and most importantly great property management and customer service, everyone is contributing and working like a team to help our clients have the best cash flow portfolio and investment experience possible.”
Brett Clothier, co-owner of Memphis Invest GP, monitors all of the properties that are purchased to make sure it includes certain features that the investors are looking for such as location, size, number of bedrooms and bathrooms, amount of renovation needed and the rental range of the property. He said the company’s decision to put procedures in place to ensure quality control and great customer service, which both lead to higher monthly cash flows, are major contributing factors for success.
“We have placed a premium on educating our staff, developing standards for our contractors and putting procedures in place to make sure our clients are constantly kept informed not only about their properties, but also about the city itself and real estate investing in general,” Clothier said.