Memphis real estate remains one of the best kept investment secrets in the country. Well-informed investors are finding the affordable price to enter the market highly attractive compared to more popular and more expensive markets in other regions of the country.
Still, before putting money down on Memphis real estate it's a good idea to learn the local market from those studying it carefully and constantly. That means becoming involved with local real estate investment clubs.
Real estate clubs are not all the same. Some focus on educating investors on both general and time sensitive invest strategies and techniques while others focus on pooling money to make specific investments. Before investing, you need a full understanding of the Memphis marketplace.
Memphis Investment Group
Memphis Investment Group (MIG) is the most active club in the area. The focus of this group is educating investors, networking, and sharing current Memphis real estate happenings.
Insights to what MIG currently finds relevant in the marketplace can be gleamed from the monthly newsletter. Better yet, before investing in Memphis real estate it would be a good idea to visit the city and attend at least one of MIG's events. Preferably a speaker's event. The June 2013 speaker was nationally acclaimed speaker Andrew Cordle. Cordle's investment philosophy is having a combination of rental income and flipping properties for fast cash. Having both is a solid strategy in an ever-changing marketplace.
Besides speaker events, other resources sponsored by MIG include monthly membership meetings, workshops, seminars, discussion groups, and the newsletter.
Mid South Real Estate Investment Association
Based in Memphis, this organization has over 250 members networking to stay current on Memphis and investing opportunities in the surrounding areas. The MSREIA model is very similar to the MIG model. It's based on investors sharing knowledge and investing experiences with each other. At the foundation of the model is the belief that beginning investors have the most to gain by networking and learning from experienced investors.
However, MSREIA includes more than just investors. Other key members include insurance agents, real estate attorneys, hard moneylenders, real estate agents specializing in investor needs, and others.
Without a doubt, we are in a shifting marketplace and no one person knows exactly where it is going. By understanding the thoughts and logic of seasoned pros in the industry, you can better understand how all of the moving parts in the industry will affect the future market. Hearing the success stories of others often provides the extra confidence needed to make your first investment. At the same time, networking with others gives you the opportunity to use them as a sounding board before making an investment that you are considering. If you've never attended a real estate investing club meeting, you'll be pleasantly surprised how open and forthcoming other members will be.
About the author: Brian Kline has been investing in real estate for more than 30 years and writing about real estate investing for seven years. He also draws upon 25 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, a few short miles from a national forest in the Olympic Mountains with the Pacific Ocean a couple of miles in the opposite direction.