Memphis Turnkey Properties has expanded operations into Little Rock, Arkansas to form ‘Little Rock Turnkey.’ The move has been in the works for some time as a result of increased competition in the Memphis market and excessive Hedge Fund activity. Memphis Turnkey has always prided itself on offering an elite class of investment properties to its investor client base. These are properties in “Better Areas” that make “Better Investments” in the long-run due to tenant longevity and a better quality of renovation. However, Hedge Funds and the local competition has caught up and are now farming in the same areas. To stay ahead of the curve, Memphis Turnkey continued to expand it’s foot print and buy in areas further east of Memphis- including: Arlington, Lakeland, and Oakland. But consistently finding good deals in these areas to satisfy our client base has been challenging.
The groundwork for the expansion into Little Rock began about 9 months ago when Alex Craig- President of Memphis Turnkey, began talking with Brian Teeter-Director of Acquisitions for a local Little Rock Real Estate company. Brian and Alex are cousins and Brian is a native of Little Rock, Arkansas. Alex and Brian have been discussing buying investment property in Little Rock for the past year and lined up some potential listings. Alex has made several trips to Little Rock to visit with Brian, research the market, and tour the neighborhoods and downtown area.
In July, 2013 Jeremy Veldman and Alex Craig of Memphis Turnkey met with Brian Teeter in Little Rock to tour the city and drive the viable neighborhoods for investment properties. We were extremely impressed by what we saw and the quality of homes available in the Little Rock area. Our first listing on 52 Pinedale in Mabelvale (see “Properties” for listing details) exemplifies the types of homes we’re looking to buy and the quality we can offer to our investors.
Little Rock was recently voted Number 1 Place to Live in the United State for cities under 1,000,000 in population by Kiplinger Magazine- July 2013. Also, Little Rock was voted the Second Most Diverse Economy (behind Chicago) by Moody’s Investor Service and the Second Cleanest City in the United States by Forbes Magazine in 2011. Little Rock has a developing vibrant downtown area that offers a variety of shops, restaurants, bars, and culture that is attractive to any resident or visitor. It is also the home of the Bill Clinton Presidential Library that was opened in 2004.
For more information on Little Rock Listings, check out: LittleRockTurnkey.com