Memphis Real Estate Hour

This is going to be our playing field for the next 24 months, so get used to it! Link to weekly Zoom Calls: https://linktr.ee/crestcore Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This podcast is brought to you by Griffin, Clift, Everton & Maschmeyer PLLC. https://www.gcemlaw.com/contact-us/ CoreLend Financial https://www.corelendfinancial.com/contact_us.html Local Title https://localtitle.com/contact/ CrestCore Property Managment https://www.crestcore.com/ Odyssey Construction

Is it hard to use hard money? This week we are discussing Hard Money and how to use it as a tool in this market. Link to weekly Zoom Calls: https://linktr.ee/crestcore Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This podcast is brought to you by Griffin, Clift, Everton & Maschmeyer PLLC. Contact Us CoreLend Financial Contact Us Local Title Contact - Memphis, Arlington, Collierville TN, Southaven MS | Local Title & Closing Services CrestCore Property Management Memphis Property Management Company Serving West Tennessee and North Mississippi in the Mid South | CrestCore Realty Odyssey Construction

We discuss the top four actions you can take to better take advantage of this opportunity. And guess what? These actions cost nothing! Have you stayed the course searching for houses? Have you been educating yourself? Have you been talking to your bankers? Have you been checking in on your team? Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This podcast is brought to you by Griffin, Clift, Everton & Maschmeyer PLLC. https://www.gcemlaw.com/contact-us/ CoreLend Financial https://www.corelendfinancial.com/contact_us.html Local Title https://localtitle.com/contact/ CrestCore Property Managment https://www.crestcore.com/ Odyssey Construction

One topic we get asked about a lot is: how can I make my offer more appealing? How can I be the shiny object? In this episode, we answer that question! We cover Hard Money Earnest Money Waiving Contingencies Shorter Contingencies ‌ Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., AttyGriffin, Clift, Everton & Maschmeyer PLLC.

Who should you buy an investment deal from? This week we cover the big three: Agents, Wholesalers, and Private Individuals and the pros and cons of each of them. Ignore this episode at your own risk! ‌ Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., AttyGriffin, Clift, Everton & Maschmeyer PLLC. Production

There are soooo many different ways to invest: Wholesale? Fix n' Flip? Lender? Buy & Hold? Single Fam? Duplex? Triplex? Apartment? Commercial? So, what is REALLY working? Today we are breaking down a strategy we use with our clients that simply WORKS. Here's the basic breakdown: We start with 2 FOUNDATION houses. These are in a safe area, good tenants, good appreciation, out in the suburbs. These are "get to know Memphis" houses. You get to know your title company, your closing attorneys, your construction contractors, your property managers and your agent. THEN we start BRRRR-ing with the rest of your investment budget. This is a simple strategy but if you want to enter the Memphis market this is the way to go. Have any questions or want to hop on our live Q&A on Zoom? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore RealtyDouglas Skipworth, Founder & Principal Broker at CrestCore RealtyPodcast production and design by Parasaur Studios This pod

Market Update Q1 2023 Because of the interest rates and all the hoopla everyone's hearing, we wanted to do a Q1 market update for 2023. Times are changing so it's easy to get off course. Listen to this episode to get your bearings straight. Key takeaways: There is a NUMBERS crash, not a value crash. Smart Money (AKA hedge funds with huge market analysis departments) have decided "Now is the time to sell." They are selectively culling their portfolio and you should too. If you bought in 2017 or 2018 at 5% or 6% and your 5-year rate is about to balloon up to 9% talk to me NOW. -> dean@crestcore.com Also, I'm considering doing a weekly live Q&A for investors on Zoom. If you'd like to hop on the call or send a question in advance shoot me an email at dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Cli

Today we’re talking about how to get your investment deal ready to list. We’ve got more listings right now than we’ve had in the past 20 months so believe it or not, it’s a good time to sell.  Here are the SparkNotes: 1. Talk to an agent to get an idea of the value right up front. (I’d recommend a guy named Dean Harris!) 2. Want maximum value? Tenants need to be paying market rent. (preferably a 12-month lease) 3. Is the property vacant? Broom sweep! Have it in at least a somewhat clean condition for buyers. 4. Make sure back taxes and leans on the title are clear and paid at closing. 5. Now you're ready for the market: How do you price it? As of March 2023, we are at Market Value or a bit under it. ‌6. Now you've sold... go buy another one! Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N

You’re telling me I can borrow millions of dollars from a bank to buy a property, I can borrow millions to rehab ‘em, and I can get someone else to pay it back for me? Yes. This week we break down each step of the B.R.R.R.R strategy. Buy, Rehab, Rent, Refinance, Repeat! Here are some tips from the episode: PRO-TIP #1: “Turn it into a TANK.” If you are buying and holding for the long term, fix everything that is wrong with the property upfront. HVAC, water heater, roof, plumbing, electrical, hard surface floors, etc. Make sure all of this is included in the purchase price. PRO-TIP #2: 50% of the rent should cover all of your expenses. The remaining 50% can be applied to the mortgage. ‌ Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer

This episode can save your rear end. We're gonna eat a little humble pie and tell you about our worst buys. And man, have we screwed up. These are expensive lessons. Costly mistakes but priceless mistakes. How can you learn from our most embarrassing failures? Lesson #1: Do it right on the front end. Lesson #2: Do it right on the front end with COMPETENT CONTRACTORS. Lesson #3: You would rather have a fair property in a great location than a great property in a fair location. Lesson #4: The true identity of the deal doesn't reveal itself until 3 years later. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer PLLC.

This may be the most important thing you do as an investor. It is on YOU to build your team. And I'm here to tell you, it doesn't work without the right partnerships. Period. We learned all of this the hard way. So, here's some of the experienced investor advice you won't want to miss from this episode:  The difference between a bank and a mortgage company.  What to ask potential agents.  What to ask potential prop managers.  The 3 C's (Character, Competence, Chemistry.)  The biggest issues with Mom & Pop contractors. PRO-TIP: In Memphis, we have a lot of title companies that pop up, and let's be honest, they can be pretty SLICK. (Oily, careless, sloppy at best.) However, we have two reputable title companies that we close with. They are: 1) William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer PLLC. https://www.gcemlaw.com/ 2) Local Title April McDowell   https://localtitle.com/ Need more recommendations? Need a property source in Memphi

The three deadly sins of investing: Overpaying, Over-leveraging, and Mismanagement. Today we are discussing the top four pitfalls of first-time investors. Here are the SparkNotes: Pitfall #1: Not doing the 5 things we recommended in Episode 113 (Top 5 MUST-Do's for First-Time Investors.) Pitfall #2: Having a desire to break records. There are no heroes in real estate! Pitfall #3: Losing focus before mastering one thing. (We recommend reading The ONE Thing by Gary W. Keller and Jay Papasan.) Pitfall #4: Taking chances in ZIP codes that aren't historically strong due to low entry price. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer PLLC.

We are hearing from more first-time home investors than ever before. So, today's episode is our best advice on the five things you simply MUST do to succeed in your new journey as a real estate investor. 1. Get pre-approved for a loan. 2. Identify your market. 3. Choose your property source / agent. 4. Start to interview property managers, contractors, and title companies. 5. Have patience. Trust but verify. Stick to your plan. Constantly educate yourself. Step one in constantly educating yourself is to listen to this episode! And remember what Arnold Schwarzenegger says "VERK YOUR AZZ OFF." PRO-TIP: When interviewing prop managers, contractors, and title companies, use a company someone else has used. Don't just search the internet. Ask around to real people.  Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is br

You've heard the scare tactics: "High-interest rates! There's a recession! The crash is coming!" But I've got news for everyone: If you're waiting for another 2008 it ain't coming. Truth is rents are sky high, occupancy is sky high, collections are sky high. This episode is about why RIGHT NOW is a great time to be a landlord and buy rentals. Here are the four headlines of this episode: There are way less buyers in the market. (60% - 70% fewer buyers!) Prices have stabilized. The crash was in buyers, not in prices. Buyers can be way more strict in their criteria. Banks are willing to loan. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer PLLC.

"Marry the property, date the rate!" Today we break down three ways you can obtain properties and stay out of the bank's high-interest rate crosshairs. These unique times call for unique approaches...AKA MacGyver financing. The three creative financing options we explore include: Owner Financing  Hard Money Private Lenders HARD MONEY PRO-TIP Why no money down is great: Leverage your return. I've yet to meet someone with unlimited cash. Conserve your own cash. Save that dry powder! Interested in a hard money loan? Reach out to us at Corelend. https://corelendfinancial.com/ Have any other questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton & Maschmeyer PLLC.

"25% DECLINE!" That is the scary headline. But Halloween is over so don't be spooked. This is a market reset and we're going to see a lot of opportunities. The hedge funds have paused and with them not competing there are more options for you. The rates are higher but you're getting a better-quality house. So, stop reading the headlines. People are buying. The sales are there. There are fifty houses being bought and sold in Memphis today. You may be down by ten at halftime but you can still make adjustments and win. PRO-TIP #1: Econ. 101: Inventory demand is too high and supply is too low for the market to plummet. PRO-TIP #2: Preparation leads to luck. Strategy leads to luck. Planning leads to luck. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios This podcast is brought to you by William N. Griffin, Jr., Atty Griffin, Clift, Everton &a

Do you feel like you're living in the wild west right now? You've got your holster, your cowboy hat, and you have no idea what's going to happen. Over the past six months, we've entered a new era of real estate and things continue to change dramatically. In today's episode, we're going to discuss what has changed, how to adapt to it, and what to expect. This is an adjustment period and you're going to have to adjust. Below are some pro-tips from the episode. PRO-TIP #1: You marry houses. But you date rates. PRO-TIP #2: You're buying the property, not the tenant.  PRO-TIP #3: When you're selling/listing: it's going to take longer. PRO-TIP #4: Remember if you're listing a house that the buyer now qualifies for less. They were looking at 200k properties now they only qualify for 150k properties. PRO-TIP #5: Spruce up your house. Make it appealing. Imagine you're on a tv show competing in front of the judges now. PRO-TIP #6: Make your offer and stick to it. Don't feel the pressure to move on it. There will b

Interest rates are up, up, up and you've got two choices. You can sit on the sidelines or you can get in and learn. Believe it or not occupancy, rent, and collections go up during hard economic times. This week's episode is all about how you can navigate the rising interest rates and thrive as an investor. Pro-tip #1: Buy Deeper. This means offering less and buying cheaper. Don't be embarrassed or afraid that you'll insult the seller by asking below list price. Pro-tip #2: If real estate has a superpower it's the ability to raise rent. If you're not raising rent you're not using your superpower. Pro-tip #3: Need to increase cash flow? Buy more houses. Remember the "Law of Large Numbers." The bigger your numbers get the better you can predict what is going to happen. The danger here is if you buy the wrong property it can affect you negatively. So, buy right. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker

How can real estate protect you from inflation? Well, that's the hot topic we are covering in today's episode. Listen up to learn how you can take advantage of the opportunity.  We've also got two practical pro-tips for you this week: Pro-tip #1: Short-term, 12-month leases ONLY. That is where inflation is your friend— where you can increase rent as inflation goes up. Don't lock into a long-term 24-month lease. You could be leaving money on the table. Pro-tip #2: If you're borrowing, lock-in interest rates as soon as possible because they are only going up. Have any questions? Shoot me an email: dean@crestcore.com Dean Harris, VP of Sales at CrestCore Realty Douglas Skipworth, Founder & Principal Broker at CrestCore Realty Podcast production and design by Parasaur Studios

You want people on your team who have experienced markets like this before and are in the trenches with you. Choose partners who own rental properties. So, your insurance guy owns houses. Your closing attorney owns houses. You get the idea. START WITH THE BASICS: Property Source/ Deal (Agent, Wholesaler, Insurance, Accounting, Closing Attorney, Title Companies) Financing (Hard Money Lenders, Bankers, Local Lenders) Management (Property Manager, Rehab Contractor, Maintenance Contractor)  WHO WE USE We aren't going to recommend any services we don't use ourselves. Local Title/Closing Attorney: Griffin, Clift, Everton & Maschmeyer, PLLC Local Lender: Corelend Financial (Hard Money) Prop Mgmt: CrestCore General Contractor/Rehab Contractor: (email me, dean@crestcore.com I'll tell you)  Property Source: The one & only Dean (email me, dean@crestcore.com ) PROTIP: Remember there are 3 levels of agents.  Non-real estate agents - Like wholesalers. Be careful when dealing with