In this episode, Jason Hartman interviews a local market specialist from Memphis, Ryan. Ryan shares why Memphis is great for rental properties and the different levels of property available in Memphis. Jason also talks about a homeownership article from Time Magazine, government-assisted housing dilemma, and the evaluation process for finding properties.

Announcer 0:00
This show is produced by the Hartman media company. For more information and links to all our great podcasts, visit Hartman

Announcer 0:13
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in 1000s of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day, you really can do it. And now here’s your host, Jason Hartman with the complete solution for real estate investors.

Jason Hartman 1:03
Welcome to the creating wealth show. This is Jason Hartman with episode number 539. Thank you so much for joining me for 539. Our next will be a 10th episode of flashback Friday. So get ready for that. Remember, on the 10th shows we go off topic, we talked about something of general interest. But you know, it always relates back to money in some way, because that’s such a big part of the world, of course. And that’s what we’re here to talk about today. investing money, secure retirement, early retirement, or not really retirement, but freedom to do to live your life as you wish. So first of all, to that end, our Chicago property tour is coming up. We are meeting in Chicago, and I’ve got hotel information for you. few of you have signed up for that. And it’s a small group property tour. And so far, we’ve got an awesome crowd. So thank you so much for joining us, folks. Fernando and i, you can stay wherever you want, by the way. But Fernando and I are staying at this very swanky hotel. It’s called love bank, I think is how you pronounce that. It’s la ba n, qu E, we’ve got a group right there. And it’s an awesome hotel, you want to check it out, Google it, check it out, you’ll love it. It’s in Homewood, Illinois. And we’ve got a group right there of 171 per night, a little more pricey than our typical hotel of being like $130. But hey, number one in Chicago. Number two, this is an awesome looking hotel, it came highly recommended. So phone number 708-798-6000 708-798-6000, you want to check in on the 15th and check out on the 17th. And that is just next week. So this is coming up quick. All right. Also, for you venture Alliance members, remember you’ve got a big discount on that property tour. And we’re gonna tour by the way Detroit is confirmed. Okay, so if you want to join us, this will actually be a three city property tour. Now, we don’t have anything very formal in Detroit, the poster child for big government disaster can’t believe we’re even talking about going to Detroit. We’re not doing any business there. We’re gonna just check it out. We’re doing a little side trip there on Saturday, the 18th. So the plan is meet in Chicago, we are meeting there at the morning of the What is it, the 16th. And then we’re going to tour Chicago that day, we’re gonna have all our meals together, all the meals are on us, by the way, Friday morning, it will sweep over in Chicago, the 15th and the 16th. And then Friday morning, we’re going to drive over to Grand Rapids together. And we’re going to tour Grand Rapids that afternoon. And you know, maybe we’ll do a little breakfast on Saturday morning, if anybody’s staying longer. And then we’re headed out to Detroit. And I am leaving from the Detroit airport. So I fly into Chicago out of Detroit. That’s my plan. I’m just really looking forward to seeing you guys there. It’s the first time we’ve done this semi private, very small group property tour. So it should be a really good time. Okay, we’ve got a voicemail from a listener. And let’s play that. Let’s see what he says.

Listener 4:21
Hey, Jason, hope all’s well. My name is Roger. And I just want to say I enjoy your podcast and I look forward every week for the two episodes. I am your client. And I’m actually currently in the process of closing on my first property in Memphis, and really excited about that. And I plan on purchasing at least one income property per year. So as I embark on building an income property portfolio, I just wanted to understand a little bit more in depth about what it means to manage your property managers. I know you’ve touched on this subject, probably multiple times in the past. But I was wondering if we can spend a little bit more time talking about this perhaps in the intro section, or even in dedicated the whole episode for this. And if you can maybe provide some real life cases, examples from you, Sarah, Fernando, or even other investors who are willing to share that be awesome. And if you’ve spoken about this in the past, if you can maybe even provide the episode number, so that’d be great as well. Again, thanks so much. And I hope to see you soon again at a seminar or property tour. Thanks again.

Jason Hartman 5:35
All right. Hey, that was a great question, Roger. So thank you so much for calling in with that. And everybody, please use the voicemail feature, go to Jason Right on the right hand side, you can just leave a quick voicemail super quick and easy to do, just like Roger did. So that’s a good question. And yes, we have talked about that extensively. It’s sort of woven in, through so many shows. That’s what kind of makes it hard on the podcast to give you an episode number or several episode numbers, I will make it a point to do an actual show on that in the future coming up, where we talk about managing your property manager. Now, of course, we’ve talked also extensively, and I don’t want to, you know, Miss saying this one more time, about the opportunity to self manage your properties from a long distance. Again, I never thought I could do that. But it works out pretty well. So we’ll talk about both of those things. And I’ll make it a point to do an upcoming episode. That’s entirely on the managing your manager concept. In the meantime, though, if you just go to Jason, and you use the little search bar in the upper right of the website, and you just type in managing your manager, or property manager, you’re Of course going to see like a zillion occurrences of that and all of our shows and show transcripts and blog posts and so forth. There’s just ample advice in there in our back catalogue. So we’ll do another show on that, though, because we haven’t talked about it in a while. So I appreciate you bringing that up and look forward to an episode on that we will definitely definitely do it. Hey, before we get to our guest today that is going to talk about a Memphis property profile. I wanted to play a little bit of the audio from a CNBC piece. That’s pretty interesting about the market. And you know, as I’ve said, for quite a while now, the demographics coming at the rental housing market are nothing short of phenomenal. Maybe, quite possibly, in fact, I’m almost going to say just this is the way it is that they are the best they’ve ever been in history. So pretty phenomenal opportunities. And this video speaks to that. So let’s listen in and then I’ll have some comments on it for you. Again, this is Diana olek CNBC video very interesting.

‘Audio Clip’ 8:02
It is all about prices for both buying and renting home prices are still rising but at a slower pace than this time last year, not the case for rents which are at record highs in some markets, as demand far outpaces supply. Yes, we are seeing more new multifamily construction and deliveries of those units. But occupancy is now at an all time high despite predictions last year that more renters would turn into buyers. The key for buyers, though is twofold. First, the mortgage market rates are expected to rise slightly and new rules for lenders going into effect in the second half of this year, could stem access to credit, second supply housing starts are rising but at a far slower pace than demand. Now, builders are still trying to hold on to their pricing power, which is a lot easier to do when there’s slim supply. But some are starting to give putting up some lower priced homes, which could actually Stoke sales in the second half of this year.

Jason Hartman 8:57
So Isn’t that interesting? I mean, rents rising, housing prices rising, supply is constrained. And demand is increasing. Did I not predict this? Yes, I did. Of course I predicted it for a long time. And it is just I mean the next decade in the rental housing market. It’s phenomenal. It may be the best time in history. So I know a lot of you are thinking Gosh, I should have purchased in 2008 I should have been buying investment properties in 2009 or even 2010 or 11 or 12 or 13 or 14 last year and you haven’t gotten off the fence yet. And granted it was better than had you purchased then you would have made a lot of money by now. Okay, we all know that. But that’s all the shoulda coulda woulda we can beat ourselves up forever with that psychology. But we’ve got to just get in the game. Everything starts when we take action. So let’s get in the game and make it all happen. Okay. And you know, if you if you’ve already been investing, that’s great, increase the size of your portfolio, I think this is a good time to be picking up more and more prudent, sensible properties, not in the overvalued areas, because they’re definitely out there. But the markets, that makes sense. So go to Jason, click on the properties link, check out the properties we have. They’re phenomenal. You’re gonna hear about some in Memphis here with our guests today. But also, and by the way, this is a Memphis provider that we’ve been working with, it has not been on before. So I think you’ll like this one. If you’re joining us next week for Chicago, Grand Rapids, and our little optional side trip to Detroit, register at Jason For that someone just registered yesterday, we can still get in. And this will be a semi private tour. And venture Alliance members have a big giant discount on that, too. So if you’re venture Alliance, be sure you go because it’s a pretty great deal. Alright, let’s get to our guests. And let’s talk about Memphis.

Hey, it’s my pleasure to welcome Ryan, one of our local market specialists from Memphis, Tennessee, we’ve done lots and lots of business in Memphis, as you all know, we’ve talked about it, we’ve had property tours there, this has just been a really good market for us. If you’re looking for solid cash flow, and you’re careful about the areas within the city and the neighborhoods in which you invest, which we of course, will help you do that, along with our local market specialists, and guide you, you can really pick up some great deals in this market. We have lots of clients having very, very good experiences in Memphis. I own properties there myself, and it’s just great to talk more about it. Welcome. So what’s so great about Memphis?

Ryan 12:00
Well, we’ve had people investing in the Memphis area for many years, it’s not a new phenomenon for us. And so I think we’ve had a lot of attraction over the last four or five years, just because there’s been so many publications, target Memphis and talk about how great it is for investors. And so, you know, back in 2013, The Wall Street Journal rank is the number one city for buying rental properties. We were already working with investors in 2006, and 2007. So once you start getting these other publications and other gurus, start pointing people in that direction, you start getting a lot of questions about that. So I think it’s just been a hot spot for that you had CNN Money Magazine called Memphis, one of the 10, hottest housing markets in 2014. And a lot of that has to do just with the low cost of housing, low cost of living, and then how that works hand in hand with investors purchasing properties, that cash flow for them.

Jason Hartman 13:10
So give our listeners an idea as to, you know, one of the concerns they may have when they hear all of this great stuff about a market like Memphis, and many of the other markets we’re in as well, as they might be thinking, Well, you know, is it oversaturated? Are there too many investors in there, we have had that situation come up in some markets. One of them would be Charlotte, North Carolina, over the years, we’ve moved in and out of Charlotte, as it has been had a little saturation problem with investors. But Memphis, what we find is Memphis is like a renter city. It’s just really, you know, one person we were talking to set and I kind of love this, it’s sort of a funny way to look at it. But you know, I love Memphis, because everybody makes 40 grand a year, and they rent kind of that blue collar type thing. And you know, the the distribution centers, they’re like FedEx,

Ryan 14:05
they’re not gonna get up and move very easily. So these are fairly permanent fixtures versus information type businesses, which are very portable, right? That’s right. And so what we’ve had is you’re right, some of that is truth, even when they’re just in in it. We have about a 46% of our population rents in the Memphis area. Or if you look at the national average that hovers around 30% nationally, so we have an abundance of tenant base for your properties. We run a mid sized property management company with a little over 500 doors, and we consistently have rates of 5% or less, as far as the vacancy rates for our management company, which is just unbelievable. to continuously do that no matter what time of year it is, or Or you know, the amount of properties we have, that we’re currently managing, you have a lot of blue collar industry that provides a lot of tenant base. And we’re continuing to attract new businesses into the Memphis area, which has people moving in. And a lot of times, they don’t want to buy for that first one to three years to see if they’re going to stay in their current job, or just to learn the community. So always in abundance of tenants for your properties.

Jason Hartman 15:30
So what is it about Memphis that makes it such a renter oriented city? I mean, why it’s such a good deal. People say, Why don’t people buy? You know, why don’t they buy a home?

Ryan 15:42
Yeah, it’s interesting. When I first got into the business, I substituted as a leasing agent, when I first got my license. And I think that that was a great thing to do to learn more about investing. I’m an investor, just like most of the people listening to this either are or wanting to get into investing. And the reasons that tenants rent are multifaceted. Some of them are lifelong tenants. I looked at their credit scores, and I asked him, I said, Well, you know, you could purchase this home and pay less. Would you like to explore that? And their answer was, no, we’ve always rented did they have good enough credit to buy? Absolutely. And they literally preferred renting, they prefer renting. And they didn’t I don’t know, if they just didn’t fully understand the homeownership scenario, or you have a certain population that just wants someone else to take care of things. They don’t want to have to put a new roof on a home or to fix the air conditioner. If it were to go out, they would prefer someone else take care of those maintenance issues for world. Hmm,

Jason Hartman 16:51
interesting. That’s, that’s amazing. Yeah. So that so they actually said they’d prefer to rent. Okay. And do you have any other theories as to why that is? I have a few I’ll be glad to share with you. But I, you know, one is, maybe before you answer, I call it financial immaturity. You know, when I first got into the real estate business, and I was working with investors, and first time homebuyers, I mean, I was 19 and 20 years old part time going to college, selling real estate. And I was in Southern California. And, you know, I’d go out to the Inland Empire, Riverside, San Bernardino counties, and I would sell these government repos, FHA, HUD and VA repos. And in selling them, I would almost notice that when it was the first time buyer, not the investor, of course, it’s different for them. But when it was the first time buyer type mentality, they don’t need to take maybe a step back to take two steps forward, you know, they can always rent like a nicer place a little bit than they could buy. Now, back then, of course, interest rates were like, you know, 12 to 14%. Okay, so it was quite a different world. But you know, now amazingly, it can be cheaper, don’t sometimes you know, what, but but that financial maturity thing, it also includes saving up for a down payment, right? So, you know, even though the down payments are not that large, you know, if they’re 3%, or 5%, even that kind of saving is is just something some people just don’t want to do they don’t have the discipline to do i do that.

Ryan 18:26
That’s absolutely right. We we still work, our company is a full service real estate company, and we still work with first time homebuyers. And I would say that out of our capture rate, we still have probably 50 to 60% that never go through and buy a property, even though they contact us and say that’s where they’re ready to go. And they after a month or so going through the process. They they lose contact with us and we never hear from them again. So you know that they’re going to be continuing to rent a home or rent an apartment somewhere. They just can’t make that step to homeownership.

Jason Hartman 19:06
Yeah. Interesting. Any other theories about this? Because it’s a question we have long considered, whether it be in you know, Indianapolis, Memphis, Houston, Dallas, Austin, Atlanta, Charlotte, in any of these cities that we’ve done business over the years, you know, we haven’t totally figured it out as to why people don’t buy, you know, any more theories about that. I mean, you know, it’s a combination. It’s not that the reasons not the same for everybody.

Ryan 19:35
That’s true. That’s true. So, you know, I don’t know other than the, the, the two or three things that continue to pop up on our radar is they they just have been lifelong tenants. And then you have people that don’t even know that they can purchase a home. They don’t they don’t know that they can get qualified and and they’re just afraid to make that step and leap forward. to purchasing a home, and and some of it too, I think you find that the our society is changing, they don’t want to plant roots. And when you buy a house, you feel like you’re stuck in that situation for the next 2030 years. And I think that you have a generation now that’s coming along, that likes to be more free, more accessible to go where they want to go. Yeah, right, right.

Jason Hartman 20:27
Well, as I always say, and my listeners are probably sick of hearing me repeat myself, but the best thing you can have on a resume is mobility, you know, to go to where the jobs are. And it’s fascinating. I don’t know if you caught it. But there was a time magazine article, I’m going to say it was four years ago now maybe out of the time goes so fast. I can’t even might have been seven years for all I know. But but it was a you know, it talked about homeownership, and it had a, you know, picture of a house on the cover or a cartoon of a house, I think, and it said that, you know, they looked at these studies of homeownership rates in the economy. And it’s always been considered that homeownership is good for communities, it’s good for the economy, it lowers crime rates, it makes neighborhoods nicer. It’s kind of that whole george bush kind of ownership society concept. And they really poked a lot of holes in that theory, because homeownership means that when when people own instead of rent, it’s their, it’s more permanent. Yes. And that seems good on the surface. But in a modern economy where there’s a lot of alchemy, and velocity, and things are changing really quickly, you know, and it really helps to be flexible, and nimble and agile. In that kind of economy, the places with high homeownership rates, really, they found were more stagnant in many ways, it was kind of counterintuitive to all this stuff, we’ve all been brought up to believe, you know, because people couldn’t go to where the jobs were, you know, they were, they were trapped. They had to, they had to wait six months or a year to sell their house. And, you know, it was like a big mental process. Oh, my God sell the house. It’s like, you know, sense of loss. And it’s just a whole different psychology than give 30 days notice and be on your way, right?

Ryan 22:17
Yeah, absolutely. And so I think you see that, especially with the younger generation, they, most of the young people that we work with, they don’t know if they’re going to be in Memphis three years from now or three months from now. So there’s no right. No way that they’re going to put down roots purchasing a home.

Jason Hartman 22:34
Yeah, right. Right. Interesting. Okay. So any more theory about the renter thing?

Ryan 22:40
Not that I know of?

Jason Hartman 22:41
So what else about Memphis is so attractive to investors?

Ryan 22:45
You know, I think a lot of times, investors are coming from outside the Memphis area. Obviously, there’s a lot of local investors just like myself, and I love to invest in the Memphis community and have for years. But what people are looking for when when they’re looking to purchase in Memphis, or Atlanta or Indianapolis, some of those cities that you’ve described, is they want a market that is dynamic, they want a city to invest in, where there’s a lot going on, not not only with a local economy, not only with the, the tenants for their home, but they like culture. And Memphis has a lot of culture to it. So the investors that are purchasing here, they’re happy with their investment, they love the returns that they’re getting. And they also want to come see the properties because they want to come to Graceland where Elvis is that they want to come to Beale Street and and see all of the blues going on. They want to see the riverfront, where we’ve done just a tremendous amount of expansion. And they want to see the city continued to be dynamic and growing into just a more 21st century typesetting. And so you get all of that in the Memphis package, you get a great return on your investment, you get a house that cash flows, and then you get a city that’s dynamic, and has a culture that goes along with it. So I think that that just makes it extremely attractive to the investors.

Jason Hartman 24:17
What should people look for when choosing an investment property in Memphis? I mean, you know, one of the reasons and I’ll just tell you, and my listeners have heard me say it quite a while ago, so it’s not recent, me repeating myself. But one of the reasons we kind of stayed out of that market for many years, is that we felt it was pretty spotty. I mean, I think it’s, this is true of every city, of course, but I think it might be a little more true in Memphis that you have to be a little more careful about specific micro markets and neighborhoods. Would you agree with that?

Ryan 24:50
Yeah, absolutely. And so what you have you got to know what you’re doing and you do, we, when you when you look at different levels of properties, and most people split it up into an A level B level and a C level, if you find on our website, you asked me what type that is fit to a level property, you’re going to be in a good neighborhood, B level neighborhoods are going to be good solid neighborhoods as well. But when you get into C level, or some people even take that scale even further down, you really start evaluating we do a tri fold evaluation. First thing we do is we drive in and get a sense of the neighborhood. If the neighborhood feels Okay, that still doesn’t mean that there’s going to be the property that’s in question is a good property, we drive to the street, and we evaluate the homes that are around that particular investment property. If that passes test number two, then we drive by and we look at the house and make sure that the neighbors next door to it, make sure that the house has an appeal that’s attractive to tenants. And so with knowing that Memphis has some of those spotty areas, once you get into that sea level property, you really have to take a three level approach to evaluating the homes. And and that’s how you become successful. But the only way that you can do that is to really just know the city inside and out.

Jason Hartman 26:13
Yeah, okay, so So tell us more about that neighborhood analysis, if you would, and, you know, maybe any case studies, you want to share about properties that you you pass on, or you passed on in the past, you probably regularly pass on things, I’m sure, in properties you chose to buy, because you have a couple dozen investment properties yourself for your own portfolio, which ones would be go and no go and why.

Ryan 26:39
So what you get into is we evaluate hundreds of properties a month, just to find a few. And that’s not an exaggeration, we track every property that goes into foreclosure in the Memphis area. And, and we do drive by valuations of those properties. But what you wind up is you drive to that property and you find that it has some functional obsolescence to it, you, there’s no good way to get out of the driveway. Well, that’s not going to be a good property, even though it’s in a good area. Or you drive into a zip code that you you work in all of the time. But there will be a neighborhood that you just avoid like the plague, because it has just had a turn for the worse. And you know, that is going to be a management nightmare. And you got to remember, we own the management company, as well. So a lot of investors like working with that, because once the initial sale is done, we’re still here Manny’s in that property day to day. And so we want to make sure that we place investors in the right type of neighborhoods and the right type of homes, because we’re eventually responsible as a company as well to keep in those occupied with tenants and get them good returns.

Jason Hartman 28:04
Speaking of that, talk to us about government assistance, government assisted housing programs, versus non government assisted housing programs. As I mentioned to you, before we started, we have some investors who really like those types of properties where you have a government assisted tenant because the rent is very dependable. There’s, you know, almost I don’t want to say never, but almost never a collection problem. Because you know, Uncle Sam is writing the check, or some government agency might be a local agency to some people just don’t like them because they feel that they’ve got to comply with like more inspection requirements and more hassles, more bureaucracy, with some feel that the tenant quality is lower. What are your thoughts on that? And we’re Where do you stand? Do you love it? Do you hate it? I find that a lot of people aren’t really in the middle. Either. They love it or they hate it. And I’ll tell you one more thing. My mom had a lot of government assisted tenants in her portfolio over the years when I was growing up. And I sort of like to say sarcastically that she would complain all the way to the bank.

Ryan 29:10

Jason Hartman 29:14
What do you think?

Ryan 29:15
Well, over the 12 years that we’ve been doing this as a company, you’ve nailed it, people call us and they let us know right up front. You know, I I really do not want to explore a section eight or a government Assistant Program. I’ve heard horror stories about them, and I just don’t want to be a part of that. And then we have the flip side of that as well. People call and say, I absolutely love the way that section eight or government housing is run. I would prefer that type of tenant in my property. And it’s one of those things where you just can’t please everyone because it is extremes on both in we work with the largest local agency in the Memphis area is called Memphis Housing Authority, known in general is just section eight. And we do work with that organization. And, and, and have been very successful with it. The, the repairs, or the inspections that the homes go through, are typically looking for safety inspections. Is there some faulty wiring? Is there some type of leak in a plumbing? Is there a trip hazard, all of those things are things you need to be aware of as an owner anyway, because it doesn’t matter if it’s a subsidized tenant, or if it’s a traditional tenant, all of those things can cause you issues from a legal standpoint. So what Memphis housing does is they send out an inspector once a year, and they look for those type items that need to be corrected. So we work very well with them. Because that’s something that we want to be conscious of as a management company and as owners as well. So we do work with them. But we understand when owners don’t want to work within that system, we give them that option.

Jason Hartman 31:05
Yeah. Okay. All right. So what are some of the advantages and disadvantages? You know, maybe elaborate on that a little bit more? What can investors expect? Either way, I mean, one of the advantages, I’ll say, is that the tenants tend to stay a while, and they not always, but a lot of times, I don’t even want to say mostly, I think mostly, I’d say, you know, they, they, they’re pretty good, because they know that there’s this big lever hanging over their head that if they, if they abuse the program, if they get kicked out of the program, it’s very, very difficult to get back in. Some people say they’re just kicked out for life, which I’m not sure that’s always true, because life is long, and it takes a long time to know if that’s really true. And each case is individual, but they want that free money from the government, you know, so they’re, they’re usually gonna behave fairly well. Right?

Ryan 32:01
Absolutely. So one of the biggest advantage of a section eight tenant, in my opinion, is the longevity of it. Some of the houses that I bought, originally still have the same tenants in there. And their section eight housing, they rent, the rents on those are right around 850 per month. And, and it’s just like clockwork, very similar to the cliche like you’ve talked about your your mother grandmother laughing all the way anger, mother crying all the way to the bank. Yeah, complaining

Jason Hartman 32:35
all the way to the bank. Yeah,

Ryan 32:37
yeah, absolutely. And the same thing holds true. They’ve been there for six years now. And and have never thought about moving. So you get some of the advantage of longevity. If they find a place that they believe is their home, and know that they work well, with a management company, they don’t want to leave, they want to work within that system. And so we find that a lot of the subsidized Stinnett tenants stay for multiple years. The second thing is also true that you brought up, they do have guidelines that they have to go by. And if if they step outside those guidelines, or if there’s an issue with them, even within the community, you can get in touch with one of their agency supervisors, and they get involved and help you through that. So so there’s instances where you may have a complaint from a neighbor, and and their caseworker will get involved and say, Hey, we need to get you get these corrections made, or there’s going to be penalties for that. So, so you do have an agency that is there to help you. And third, you you’re 100% correct. They do not want to lose their voucher, then they have to provide the entire rent amount. And most of these people that qualify for subsidized housing, they need it. No other way to put it. And so they, they are very appreciative. And they are not going to jeopardize that by ruining your property or trying to take advantage of it for the most part.

Jason Hartman 34:23
Yeah, right. Right. Okay. Okay, good. So what area of I mean, we have other providers in Memphis, as you know, what is your thing? Is there something that makes you guys unique in terms of what types of properties you go after? Or do you sort of work the gamut of A, B and C class properties? You know, kind of what’s your what’s your angle, if you will, your unique selling proposition?

Ryan 34:48
Yeah, so over the years, we’ve, we’ve been able to provide a very individualized service. So on my board right now we have about 25 homes. that we’re working on. And they range anywhere from $60,000 price point all the way up to $250,000 price point. So no matter what the niche is, or no matter what the request of the investor is, we’re going out looking for those type properties on a weekly basis is there’s not a cookie cutter approach, we evaluate anything that looks like a good investment. But on the flip side of that, what we also sell is a relationship and an understanding of the process, you and I talked a little bit before we get started. And I told you, I’m a buy and hold investor. And so 99% of the time when investors call me, especially new investors, and they asked me about the area about the home about the investment, I usually own a property very similar to it within a few miles, or even in the same general area, and I can tell them about my experience. And then they get a lot of comfort in knowing that I’ve owned that home for multiple years, I’m still in the community, and I can have empathy, and also the knowledge to help them through that process.

Jason Hartman 36:17
Good. Well, is there anything I didn’t ask you that you just like to say in closing?

Ryan 36:21
You know, I think that the the biggest thing for the listeners to look at is just you’re you’re trying to choose what markets are best for investing your money. And the Memphis market has been extremely dynamic. But the great thing is the future of Memphis and the the businesses that are still looking to come here and expand in the Tennessee market, the they’re very attracted to it, just like investors are because of no state income tax, low cost, and an abundance of workers. So when you have big industries that are looking at the city of Memphis to invest their dollars, that is a great place for investors to look as well. And just follow the trends of people that are dumping millions of dollars of research into finding a good place to invest. Good stuff, good

Jason Hartman 37:16
information. Well, folks, if you have questions, if you’d like to be connected with our local market specialists there, go to Jason If you already have an investment counselor at my company, of course, talk to them, they’ll be happy to help you and connect you and arrange a three way conference call where they can be on the phone with you and talking through some of these issues, benefits, property selection, etc. And we’re just glad to help and glad to have another good provider on in Memphis. So thanks very much for joining us.

Ryan 37:45
Thank you.

Announcer 37:47
I’ve never really thought of Jason as subversive, but I just found out that’s what Wall Street considers him to be.

Announcer 37:53
Really now How is that possible at all?

Announcer 37:56
Simple. Wall Street believes that real estate investors are dangerous to their schemes? Because the dirty truth about income property is that it actually works in real life.

Announcer 38:07
I know I mean, how many people do you know not including insiders, who created wealth with stocks, bonds and mutual funds. those options are for people who only want to pretend they’re getting ahead.

Announcer 38:19
Stocks and other non direct traded assets are a losing game for most people. The typical scenario is you make a little you lose a little and spin your wheels for decades.

Announcer 38:30
That’s because the corporate crooks running the stock and bond investing game will always see to it that they win. This means unless you’re one of them, you will not win.

Announcer 38:40
And unluckily for wall street. Jason has a unique ability to make the everyday person understand investing the way it should be. He shows them a world where anything less than a 26% annual return is disappointing.

Announcer 38:55
Yep. And that’s why Jason offers a one book set on creating wealth that comes with 20 digital download audios. He shows us how we can be excited about these scary times and exploit the incredible opportunities this present economy has afforded us.

Announcer 39:09
We can pick local markets, untouched by the economic downturn, exploit packaged commodities investing and achieve exceptional returns safely and securely.

Announcer 39:20
I like how he teaches you how to protect the equity in your home before it disappears and how to outsource your debt obligations to the government.

Announcer 39:27
And this set of advanced strategies for wealth creation is being offered for only $197

Announcer 39:35
To get your creating wealth encyclopedia book one complete with over 20 hours of audio go to Jason forward slash store.

Announcer 39:44
If you want to be able to sit back and collect checks every month, just like a banker. Jason’s creating wealth encyclopedia series is for you. This show is produced by the Hartman Media Company All rights reserved for distribution or publication rights and media interviews, please visit www dot Hartman or email media at Hartman Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax legal real estate or business professional for individualized advice. opinions of guests are their own. And the host is acting on behalf of Platinum properties, investor network, Inc. exclusively.

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