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Updated over 8 years ago,
Looking for 5-Star Service in Memphis Area?
I have to give a huge shout out to @Derrick Craig for helping me turn around an underperforming property I own in Memphis. As a little background, I am an out-of-state investor in turnkey properties and ended up purchasing from a different company two years ago. Fast forward to today with two tenants breaking their leases early, two court ordered evictions, two different property management companies that were short on communication during these difficult times, and I'm clearly in the red on this property to the tune of ~$6500 after figuring all expenses + my mortgage payment over these two years.
I call Derrick on a Friday afteroon asking him for his advice on the property and his honest opinion on whether I should just sell the damn thing and chalk one up to an expensive lesson in out-of-state RE investing in Memphis. By the next Monday, Derrick has checked out the property inside and out, sent me video to show me what needs to be done, and advises me that it should be a great investment given the neighborhood and size of the property. He also lets me know that the rent-ready turnover can be done for ~$2000-$3000 less than what I was quoted by my previous property managers!!!
Within 7 days of my reaching out to him, he found a tenant for the property and is confident that she will stay her full lease term. I realize that nothing is guaranteed, so I will keep my fingers crossed concerning this issue and will update you in 12 months. All the work and time he has put into this so far he has done without asking me for a single dime. Of course he will be paid eventually, but this level of service has been absolutely amazing. I was ready to completely give up on turnkey in Memphis, but I am now looking forward to working with Derrick and his team in the years ahead on more properties.
If anyone is on the fence about investing in Memphis or looking at who to make their investment with, please reach out to me and I'll share more of my experiences for anyone who is interested. Just had to express my gratitude to Derrick for helping an absolute stranger in a very stressful and difficult time.
THANK YOU DERRICK CRAIG!!!
-Tyson Brooks