The Process

How To Get Started

Get Pre-Approved

Contact a mortgage lender to get a Pre-Approval letter. Most of our investors use a 30-year conventional mortgage which you can receive 10 of at 20% down. Below is a link to our preferred lenders who are experts in Memphis and Turnkey properties. If you'd like to pay cash or are in a 1031 exchange please let us know and we will give you a first look at our properties.

Pick a Property

Join our buyers list and we will email you every Thursday with new properties.

Cashflow

We will hold your hand through the buying process and will provide agency representation to help you purchase the property from us. Once completed and you have the deed we will provide Property Management services so you never have to come visit unless you want to try some of our world famous BBQ!

The MIP Process

Acquisitions

  • We locate and purchase distressed properties in neighborhoods where we know qualified tenants want to live that are safe and near major employers.
  • We invest in neighborhoods where we have personally had success in.
  • We own the franchise We Buy Houses which allows us a steady flow of off market distressed properties. This is what allows us to provide you with over 300 houses per year.
  • We have a very strict criteria and buy 1 of every 16 houses we analyze.
  • We buy these houses using Hard Money loans. If you would be interested in lending MIP the funds needed for these house please contact us.

Renovations

  • We perform a new renovation on every house and add “Maintenance Preventer’s” which results in more cashflow for you. It’s our goal to install a new 30 year architectural shingle Roof, New HVAC, New water heater, New hard surface floors, etc
  • We purchase our materials in bulk at discounted prices. This allows us to use higher quality materials in your home.
  • Instead of adding carpets to the bedrooms, we add Luxury Vinyl Plank which can last multiple tenant turnovers.
  • Our average rehab is just under $30,000. This results in a property that your tenants will love and increases the average tenant stay.
  • We stand by the quality of our craftsmanship by offering a 1 year construction warranty on the work completed.

Sales

  • We provide agency representation to help you buy the property once the renovations are 100% completed and a tenant is able to move in on a 2 year lease.
  • The contract used is the standard Tennessee Association of Realtors Contract that all agents in the state use accompanied by a $5,000 Earnest Money deposit.
  • The earnest money is 100% refundable due to a Home Inspection, Appraisal, and Financing.
  • We will help you receive a 3rd party home inspection report to verify the quality of the work completed. Normally 5-10 items come back which we will fix the majority of for free. You must be 100% satisfied with the work before proceeding
  • The buying process normally takes 90 days to complete assuming you are taking a mortgage.
  • This entire time we are searching for a tenant on a 2 year lease resulting in cash flow from day 1. This happens over 90% of the time.
  • We will send you professional photos and a video which includes drone footage of your property.

In-House Property Management by Reedy & Co

  • Our in-house Property Management Company (Reedy) will place qualified tenants on 2 year leases with a 4% rental increase at year 2.
  • We will keep your expenses low by utilizing in-house maintenance crews and materials stored in our 7,000 square foot warehouse.
  • Our collections team averages 96.5% every month and is composed of 3 team members that will be proactive in emailing, calling, texting, mailing, and visiting your property to collect the rent due.
  • We have had incredible success collecting rents and our leasing demand has increased during COVID-19.
  • Communication is extremely important to us which is why you will be assigned to one dedicated member of our Client Services team.