We are a full service turnkey provider in the Memphis TN market. We sell investment properties to mostly out of state investors. We focus mainly on single family homes in the greater Memphis metro area. All of our homes we sell have a minimum of 3 bedrooms and 1 bathroom. The price ranges of the homes we offer (with repairs included) can range from the low end of $60,000 to the average high end of $110,000. I would say that most of our clients over the years have purchased with the $75,000 to $95,000.
At Buy Memphis Now we renovate our homes to at or above market standards. Whether we are renovating a home that will sell for $60,000 or a home for $100,000 we use the same products and materials. Once we acquire a new investment property one of the first things we do is walk the property with our general contractor and put together a scope of work which outlines everything that will be repaired, replaced or upgraded during the renovation process. Our average renovation takes anywhere from 2-3 weeks to complete. When the renovations are completed we then turn the home over to our licensed property management partner so they can start marketing the home for rent.
Whenever I am talking with new real estate investors for the first time, one of the questions I am usually asked is how are we different from our competition? Most other turnkey real estate investment companies will either own the property management company and some companies have no affiliation with property management other than referring you to a handful of companies with you picking who you liked best. Since we are a smaller turnkey provider we do not own the management company. What we have done is we have partnered with 2 of the best Memphis property management companies and together we serve our investor’s needs. One of the most expensive costs to any real estate investor is when turnover happens. This is why both of our management partners only focus on 18-24 month leases. Propertyware is the online portal where you will receive your monthly statement, property updates and year end reports.