What We Do

At Memphis Invest, we find undervalued properties through advertising, bank relationships (REO), and distressed sellers. We then purchase these properties for our own portfolio and additionally we wholesale some of these properties to other investors. At Memphis Invest, we are always looking for the best investment opportunities and investment buyers for these properties.

Some of our Most Common Deal Scenarios

Cash Buyers

Cash buyers are purchasing the homes and paying for the repairs (if needed). They are then moving the properties into long-term conventional financing using a bank or mortgage broker.

By purchasing the home at 50-60% of LTV and then doing the repairs, they then have a lender refinance the property at 75% - 90%LTV and get all of their cash out of the deal and in some cases, put extra money back in their pockets.

Buyers Using Financing

The nature of these deals dictates that they must close very quickly. Because of this, buyers must be pre-approved by a lender prior to purchasing. We need to be able to go from contract to closing sometimes in as little as 10 days.

Using traditional financing, a buyer can purchase the home as-is and pay for the repairs with cash. IF the buyer chooses, they can then refinance in the future to reclaim the cash that they have in the property.

Beware, that this will result in paying closing costs twice.

Using traditional financing a buyer can also purchase a home that needs no repairs.

The Process

Step 1 Get pre-approved by a lender (we have two that we work with if you are not currently working with one) or have the ability to pay cash from reserves, lines of credit, self-directed IRA’s, etc.

Step 2 Make sure that we have all of your contact information and add you to our distribution list for properties.

Step 3 We will begin offering you properties for your consideration.

Step 4 Purchase the property. Take all factors into consideration. Including what Memphis Invest thinks the property will rent for.

Step 5 We will email you a contract. These Closing Dates are FIRM. THEY CANNOT BE MOVED unless we state on the front-end that we are flexible. THESE PROPERTIES MUST CLOSE ON TIME.

Step 6 Make sure that property is insured prior to close. We will provide you with an agent that is familiar with these transactions if you desire.

Step 7 If Necessary, you will be notified that a closing package is being sent to you for overnight delivery (Fedex). Be looking for it – it is time sensitive.

Step 8 If Necessary, sign the closing documents and have them notarized. Include necessary funds for closing and send the package overnight in the included envelope.

Step 9 Memphis Invest will pick up your keys from the Title Company/Closing Attorney and any necessary leases and/or deposit funds that are already in place. IF lease is already in place go to Step 14.

Step 10 If necessary, Memphis Invest will send a budget for repairs needed and request necessary funds to begin work.

Step 11 If necessary, Memphis Invest will provide a detailed accounting for all repairs done on the project upon completion.

Step 12 If necessary, Apex Property Management will post a sign and begin advertising the property for rental tenants.

Step 13 If necessary, Apex Property Management will take a deposit from prospective tenant and arrange to have the tenant come into their office for a “closing”. This closing will include the signing of the lease and distribution of keys, etc.
NOTE: Tennessee law requires Memphis Invest to keep the deposit in escrow.

Step 14 Apex Property Management will send a copy of the signed lease, the property management agreement, and the first month’s rent check (less the management fee) to the investor.