59: Memphis Turnkey Real Estate Investing with Terry Kerr

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 27 November 2015

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#59: Learn why buying fully renovated, already rehabbed, already tenanted, cash-flowing property in Memphis, Tennessee can put you on the path to financial freedom with Terry Kerr of MidSouthHomeBuyers.com

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.

Listen to this week’s show and learn:

02:18 You want more money with less of your time invested. Today’s episode makes this actionable.

03:58 “Instead of wondering when your next vacation is, maybe you should set up a life you don’t need to escape from.”

04:22 The element of altruism in turnkey real estate investing.

06:10 An advantage of single-family home investing that you’ve likely never thought of.

07:50 Keith joins you from Managua, Nicaragua today.

11:24 Terry Kerr interview begins. He answers “Why Memphis?”

14:34 These $60K-$70K cash-flowing homes are in decent Memphis neighborhoods.

16:07 Advantages of MidSouth having both their renovation and management company under one roof.

18:04 MidSouth now has their own warehouse. This reduces maintenance costs.

21:00 Renovating to “retail standards” vs. “rental standards.”

24:06 Memphis submarkets and neighborhoods.

28:12 Single family homes often work best for Memphis cash flow.

29:17 In Memphis, tenants supply their own appliances!

31:01 In Memphis, one utility company supplies: water, wastewater, gas, and electricity.

32:30 Tenant qualification.

34:08 Occupancy is currently 98%+ in an 1,155-unit management portfolio.

35:35 Warranties and guarantees to investors.

36:30 The vital importance of property management.

38:52 Why the distribution business sector is more durable in supporting cash-flowing real estate income streams.

40:02 You’ll spend about $15K-$19K as a down payment & closing costs to invest in these cash-flowing homes.

Resources:

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

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Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate Investments and Mid-South Homebuyers.
0:10.8	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires
0:22.7	than anything else and can provide you with more wealth and happiness than you ever thought
0:28.2	possible. Now, here's your host, investor, entrepreneur, business owner and educator, Keith
0:36.2	Weinhold.
0:43.8	You're listening to Get Rich Education, episode 59.
0:45.1	I'm your host Keith Weinhold.
0:46.1	Welcome in.
0:51.6	You know, I just want to acknowledge that I consider it a remarkable privilege to talk each week to so many listeners across 146 world nations. It really is
0:57.2	something incredibly special, and I'm grateful for that. Thank you. Once again, we've got a bunch of
1:03.0	great shows coming up here on GRE, including How to Buy Your Own Cash Flowing Panama Coffee Farm
1:09.5	parcels like I have. Later, we've got RichSat
1:12.4	Advisor Tom. We'll write, whom is also my tax advisor, returning onto the show for his second
1:17.5	GRE appearance. Then later we've got a great reputation expert appearing. But today we're talking
1:23.2	about turnkey real estate investing in Memphis, Tennessee with Mid-South Homebuyers President
1:28.7	Terry Kerr, and that's coming off the heels of an in-person market tour in Memphis that my wife
1:34.9	and I experienced there. So this is going to be a highly actionable show. Mid-South Homebuyers has long
1:41.7	been a premier provider of cash-flowing real estate so that you can
1:46.4	purchase a property that's already renovated, already tenanted, already under management.
1:52.8	That's turnkey real estate investing so that as the investor, you do little more than collect
1:59.8	the monthly cash flow checks that originate from the tenant.
2:03.6	That's our show today.
	...

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