On a recent episode of the “Top of Mind” podcast, David Meyer, Bigger Pocket’s vice president of Data & Analytics, said: 

“I recommend to anyone who wants to get into real estate investing, pick like a boring, easy strategy to get started. Learn as much as you can on a low-risk approach.”

At Meridian, we often say that we make investing in real estate easy. Our aim is to educate our investors; eliminate as many obstacles to success as we can; and deliver consistent returns that outperform other markets and asset classes. We mitigate risk by:

• building in some of Memphis’ top suburbs.
• constructing homes with materials designed to withstand the wear-and-tear of an active family.
• adhering to strict underwriting policies that ensure we place well-qualified tenants in our investors’ homes.
• inspecting our investors’ homes multiple times a year to make sure the tenants are complying with their lease agreements.

Those who enjoy the thrill of hunting for properties, fixing them up, flipping, or self-managing may say that investing with Meridian sounds a little boring. Perhaps it is, but who couldn’t use a little ease and predictability given recent market volatility.

Deal of the Month

Our “Deal of the Month” is located in the popular community of Nicole Place in Horn Lake, Miss. It offers 5 bedrooms, 3 bathrooms, 2,225 square feet, and is already tenanted!

🏡 Address: 5662 Tucker Landing, Horn Lake, MS 38637

💲 Sales Price: $353,000

💰 First-Year Cap Rate: 6.2%

Named Mississippi’s greenest city, Horn Lake is known for its expansive parks, quality school system, retail amenities, and job opportunities. The city recently announced that it’s updating its comprehensive plan. Once complete, the plan will guide future land use and identify long-range goals for responsible development and growth. 

To learn more about this opportunity, and to review the home’s 10-year pro forma, please contact Brian Conlon at 805.276.8654 or bconlon@meridianpac.com.

News from Meridian Property Management

Meridian Property Management has implemented two new procedures to better protect investors and their assets:

1. INSPECTIONS: Six months after a new resident moves in, MPM will complete a brief on-site inspection at no cost to the homeowner. This physical inspection is in addition to the virtual inspections required of residents and aims to ensure compliance with lease agreements.
    
2. INSURANCE: In lieu of asking for higher security deposits, MPM is now requiring new residents to purchase insurance policies, in addition to paying refundable security deposits. These policies insure personal belongings and offer liability coverage for damages they or their pet(s) may cause to the property. With this enhancement, we hope to minimize turn costs.

Please contact Hope Reyes, Meridian Property Management’s director of operations at 901.826.0609 or hreyes@meridianpac.com with any questions or feedback.  

INVENTORY UPDATE
Going, going... just about gone!

Meridian has only two homes left in Windstone Estates! Windstone Estates is located in the city of Millington, just 30 minutes from Ford’s BlueOval City and close to the region’s best retail and dining options. Our Leasing team reports that activity is still strong, and that rents have ticked up since last month. 

We don’t expect to have Tennessee inventory again until the fourth quarter, so contact Brian Conlon today at 805.276.8654 or bconlon@meridianpac.com to reserve a home.

Investor Education

• This year, Meridian is on track to build 170 homes for both investors and retail homebuyers. We recently announced a strategic partnership with Coldwell Banker Collins-Maury to sell our homes locally so we can keep building. - Meridian Premier Homes Press Release
• Like homebuyers, many investors have exited the market waiting for rates to drop and homes prices to decline. The Black Night Home Price index shows that home prices are edging higher in large part due to a lack of homes for sale. In fact, according to this article, competition among buyers is pushing prices higher. - CNBC.com
• According to a recent survey of 1,000 renters across the United States, 72% say they’ll never be able to afford a home. - Yahoo! Finance
• Morgan Stanley’s Chief Investment Officer for Wealth Management, Lisa Shalett, weighs in on what investors can do to prepare for more market volatility. - Morgan Stanley