The Importance of a Mission Statement Great companies start with a vision or mission statement that provides a short summary of that company’s purpose, how and why they do what they do. These simple statements or phrases guide a company’s values and provide it with purpose. That purpose, in turn, orients every decision employees and … keep reading
Effective on all new homes that we market for rent, we will require a 2-year lease with a built-in rent increase between 3 to 5% in year 2. In 2007 when we started buying for our own portfolio, we used a 12-month lease that is common in the rental industry. Although the average stay with … keep reading
Unlike the typical property insurance policy we all have on our properties that is a must have, whether or not to get Umbrella insurance is not as clear. There is no right answer as to what is enough insurance to carry. Rather, it all depends on the risk tolerance of each individual. Insurance does not … keep reading
This email may be the most important one that I send out this year as it has to do with maximizing 1 of the 5 ways your rental property pays you a return and that is tax savings. If you are not approaching tax savings as a big part of the investment, then I would … keep reading
Every four years in Memphis, property values are reassessed for property tax purposes. This past 4 year period has seen in most all neighborhood’s, more appreciation then the previous 4 year reassessment period. Does that mean a property tax increase, likely yes, but not a big one as in theory according the county assessor website, … keep reading
In our weekly meetings, while we talk about several topics, nothing more dominates the conversation then the renovation and how to improve. While several factors must come together for a property to provide consistent cash flow, none is more important than the renovation, which sets up the property for long-term success. The renovation is the … keep reading
Hi everyone, the message is going to be short this week as myself and another individual in our office are working through COVID. The office building in Memphis was shut down last Friday, but regardless, we would have needed to shut down due to the rare snow event that came through here. Our Little Rock … keep reading
Marketing your vacant home is much different today than it was a few years ago and that is a good thing. The game changer has been self-showing platforms that automate the entire leasing process. For most of my real estate career as a property owner and manager, the key to leasing a home was sign … keep reading
Over the past 2 years, the markets in which we operate, along with markets across the country have seen property values rise. In 2018 our average sales price was $85,234. Last year selling homes in the same neighborhoods, our average sales price was $98,199, an increase from 2018 of 20%. Acquisition prices are only up … keep reading
This is a longer post then I usually publish for our weekly email, but I feel one of the more informative and important one’s as it deals with insurance. Just because you have insurance, does not mean you have the complete coverage you may think you have. The standard homeowners insurance policy you have on … keep reading
