9: Your Cash Flow is in Memphis, Tennessee

Get Rich Education

Keith Weinhold

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

4.3 • 602 Ratings

🗓️ 12 December 2014

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

#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:

www.MidSouthHomeBuyers.com

Transcript

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0:00.0	Welcome to Get Rich Education with Keith Winehold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else,
0:14.0	and can provide you with more wealth and happiness than you ever thought possible.
0:19.0	Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold.
0:30.1	You are inside the GRE podcast, Get Rich Education, show number nine.
0:35.5	I'm Keith Weinhold.
0:37.1	Realize that most people have one substantial
0:40.1	income stream in their life. It's from their work-a-day job. Most know that it's smart to have a
0:46.6	second substantial income in case something happens to their one and only income stream,
0:51.7	but to them that means getting a part-time job. Well, your return on
0:56.6	time and quality of life are diminished if you have to add a part-time job. How did that really
1:02.6	make things any better for yourself? You're trading your time for dollars again. Your work
1:08.1	hours might increase 20%, but when you figure it out, that might cut your
1:13.6	you time in half. Instead, when you establish a second income stream with your investment dollars
1:19.8	and do it in something stable, substantial, and relatively passive like real estate, you've
1:25.8	enhanced the durability of that income stream.
1:28.9	I discussed that in GRE episode number two, which is one of our most downloaded episodes.
1:34.6	The show is named How to Make Money Follow You, as opposed to you following money like you do
1:40.7	at a job.
1:41.3	Well, today you learn specifically about how you can make money follow
1:46.0	you in a way where you don't have to do much work for it, preferably none. Well, the way to do that
1:52.5	without work is to get your dollars and other people's dollars working hard for you through
1:58.2	turnkey real estate investing in a profitable geographic market. We discussed
	...

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