The Mid-South Real Estate Investors Association or MSREIA for short was founded back in 2002 as a way for individuals interested in getting started investing in Memphis real estate to network about an ever changing market without being bombarded with every new strategy and sales pitch from all the supposed experts.  If you follow my blog long enough you will definitely see my tilt leaning away from all the "GURUS" (what does that mean anyway?) and experts - the high-paid "Mentors" who are more than happy to take payment for no real service - and the home study courses that drown a buyer in over-stuffed folios filled with double space typed retread that has more value as kindling for fire starter than it does as educational material.  * Not ALL material or speakers are bad...I have met s... 01/07/2009

Buying real estate is a complex matter and can be especially confusing for the first-time homebuyer. Do yourself a favor and learn as much about the process as you can before you begin. There are plenty of resources on the Internet, and most real estate offices will have pamphlets to explain things in plain language. You may also be able to research the real estate process by attending community-sponsored classes, or you can take a look at books like Home Buying For Dummies by Eric Tyson and Ray Brown, (IDG Books Worldwide, Inc.) 01/03/2009

I'm not kidding when I say that my 3 year old gave me an idea about how to explain the need to get over your fear if you are going to build a successful, wealth-building portfolio of investment properties in 2009.  Let me explain... On Monday night we took our 3 year old out for Chinese on his birthday. He loves everything that is edible and will try almost anything unlike his 7 year old brother. So here he is with his chopsticks wrapped around a just delivered egg roll thats as big as his fist and determined to get it in his mouth. You see, he set a goal - he was going to get a bite of that egg roll one way or another. Being that it was just made and delivered fresh, it was still a little hot and his first bite gave him quite a shock. He quickly shot that first bite back on the plate ... 01/02/2009

A while back I shared some interesting statistics in a post Newspapers and magazines a little thinner these days. Always a staple in real estate listing and agent personal advertising, the newspaper still seems to be a favored medium by many Realtors. Brian Solis' post on PR 2.0 blog, Newspapers are old news presents even more shocking data on the demise of newspapers as news resources.Newspaper advertising is so securely married to real estate, that anxious sellers, and relocation companies demand an accounting of print (usually Sunday real estate section) ads run for a property. Even though indicators are that most consumers are getting home information from the Internet, I am seldom asked, "what kind of response are we getting on the web?" The question is usually, "how many [print] a... 12/31/2008

The real estate market in 2009 will bring even more challenges to home sellers than 2008. There is no indicator of an upward trend, and we are in the midst of a strong buyer's market. However, buyers are quite tentative as we move into the new year. As we see continuing decreases in the number of real estate agents, new business models, the weakening of print advertising, and ever greater dependence on the Internet for information, we will see the face of the real estate profession change more quickly now. In the years before the bubble burst, it was easy to sell a house using the historic 3-P marketing (Put a sign in the yard, Put an ad in the newspaper, Put it in MLS). Challenging times call for a more innovate marketing approach. Read Entire Post 12/29/2008

Merry Christmasto my friends, clients, readers, and twitter followers.May Christmas day be peaceful and filled with good spirit of fellowship and caring! 2008 was a year of challenges and opportunities.May 2009 be Happy, Healthy, and Prosperous! 12/25/2008

In a piece on this morning's Today Show, Barbara Cocoran, NBC's Real Estate Pundit described the "5 Lies Agents Tell to Sell". As many of Today's stories go, there is a lot of drama to display the obvious.There are lots of other items the home buyer, usually driven by emotion needs to be aware of. Corcoran did mention the number one item - Get A Home Inspection..... Full Post continued here _____________Joe Spake is Memphis' leading Web 2.0 Realtor.  Follow the Real Estate - Cutting Edge Feed  | @joespake on Twitter | http://spakebook.com on Facebook |  View all posts on Joe's main blog  Agents- Get the most out of your online real estate marketing - subscribe to Trulia Pro Postcard Printing -20% Off Your Direct Mail Campaign! 12/22/2008

The Memphis Area Association of Realtors has released the November 2008 and 2008 YTD sales figures.November had a steep decline (31.2%) from 2007 in total sales and a 22% decline in median price of sold properties from 2007. Year-to-date, total sales are down 19% - 12,643 vs. 15,609 in 2007, and median price has dropped 13.1% from $137,000 in 2007 to $119,000 in 2008. The report has break outs of sales data for areas and price ranges.I believe we will see the median price trend down as the REO (foreclosure) inventory sells at bargain prices. Foreclosures are impacting values used by appraisers, which trickles down to evaluation of homes for new mortgages or even refinancing with today's incredibly low rates. I have not had any trouble arranging for mortgages for qualified buyers, but th... 12/19/2008

I have gone on record many times with my disdain for those who want to charge $49 to $499 for one-day seminars about nothing, telling investors nothing, selling a slick package full of nothing and up-selling those investors to spend thousands of dollars on a see-nothing, hear-nothing, speak-nothing weekend in the future when their bank accounts are left with...you guessed it - NOTHING! I have spent several thousand dollars in my investing career on education and have found some fantastic courses, fantastic books and had the pleasure of listening to many fantastic motivational speakers which have all assisted me in improving as an investor.  The problem is that it is so hard to know what is good and what is bad when it comes to the volumes of information for investors to sift through.  M... 12/17/2008

A while ago the Memphis Area Association of Realtors initiated a You Tube video contest: Your Memphis: Take One. The challenge was to produce a 3 minute video about what you love about about Memphis. The 50+ entries were a mix of serious and humorous and encompassed a wide range of points of view about what we love about Memphis. Thanks to everyone who entered. Click here to view all entries.This morning the contest winners were announced......For the winners, click here. 12/16/2008

Probably the last city of this size to be scanned and photographed by those funny looking vehicles, Memphis is now included in Google Street View. Go to Google Maps or Google Earth to have a look at your home, business or favorite place in Memphis.I found my house. And here's my listing at 257 Madison - (seems to be a little error looking up the address, but the onscreen navigation lets you move down the street, turn corners, look up, and explore.) Pretty cool. 12/16/2008

"Price is what you pay for something, Value is what you get." Charlie Monger, Berkshire Hathaway/Wesco Financial So you want to get started investing in Real Estate with a wallet full of credit and head full of dreams of being the next Real Estate Millionaire. You've signed up for every website on the internet and and are being bombarded with learn at home courses, daily and nightly webinars, weekly seminars for $499 dollars and bootcamps from $1,000 to $10,000. And the GrandDaddy of them all...your own personal mentor willing to work with you for thousands of dollars. So many opportunities to spend your hard earned and for every legitimate hard working, well-meaning mentor, coach or guru with knowledge to sell, there are hundred's who are aren't worth the paper their business card is p... 12/11/2008

If there is one thing I don't want to be referred to as, it's an expert.  I prefer to be considered an experienced investor - not an expert investor.  With hundreds of transactions under my belt and most of them in the Memphis, TN. investment real estate arena, I have learned a thing or two about the ins and outs of real estate.  As an owner of Memphis Invest, I have had the pleasure of personally speaking with hundreds of investors around the country over the past few years and would like to think that I have gleaned a gem or two about what investors really want from those conversations.  Those conversations helped mold Memphis Invest and our philosophy about investing into what it is today - THE premier real estate investing company in Memphis and the only one offering a truly hands-... 12/10/2008

Memphis Invest continues to impress it's investor clients with fantastic opportunities in the Memphis, TN. investment real estate market.  With an approach centered on customer service and assistance with developing true Wealth Building portfolios, Memphis Invest strives to separate themselves from other similar operations located in Memphis.  "Every company has their own spin on what it means to offer great customer service" according to Kent Clothier" we just concentrate on actions rather than spin."  Those actions have led to an explosion in growth for the Memphis based family-owned investment company.  " This year, our growth has come from a tremendous outpouring of referrals from our clients nationwide. "  Those referrals have helped propel Memphis Invest into the #1 website for in... 12/02/2008

Grab an Income Property, an Equity Position, and a Screaming Cash-on-Cash Return Buy REOs in one of the Hottest Rental Markets in America!  15% Cash-on-Cash Returns; 56% Total Return on Investment!  And get paid on the 1st of each and every month, all year long!   For about what you'd need for a down payment, what if you could actually can OWN a Rental! That's right: Free & Clear - only $40,000 cash! And the market value is over $60,000 right now. That's sixty thousand in equity, for the price of only forty! And it's a money machine -- you get $600 monthly rent, and there's a waiting list for renters and Section 8 Housing. That's a screaming 18% cash-on-cash return. Subtract property management and maintenance and you still have 15% returns - in today's economy! Wow; where else can you ... 12/02/2008