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Federal Eviction Moratorium Extended

In March, the CDC announced that the federal moratorium on evictions would be extended until June 30. While this news is a relief for many renters, property owners aren’t happy about it. There have been three deadline extensions now; one in December, one in January and now this one. For property owners with tenants who haven’t paid rent since the end of August 2020, the situation is becoming a bit worrisome. How will tenants ever get back on track? Here’s what landlords need to know and some ideas for helping those tenants get up-to-date on rent payments. 

 

Landlords Have Rights, Too

 

Ordinarily, if a tenant doesn’t pay rent, you have the right to begin eviction proceedings in accordance with state and local laws. But with the current moratorium on evictions, that right has been stripped. However, that doesn’t mean that landlords have no resources to deal with this situation. Landlords still have options and rights.

 

First of all, according to the Cleveland, Ohio Housing Court, non-paying tenants must submit an Eviction Protection Declaration. This is an official form that is used to determine whether a tenant is protected under the CDC’s moratorium. In other words, a tenant can’t just stop paying rent. They need to answer the questions on the form and make a formal submission to their landlord. Once that’s received, the Cleveland landlord can either “allow the eviction to be stayed” or challenge the declaration. If the landlord chooses the latter, then a hearing would be scheduled where a court would decide. Note that even if you, as a landlord, accept the declaration at one point, you can always challenge the declaration later, for instance if you have new information that the circumstances have changed or the information was inaccurate. 

 

CDC’s Authority Questioned

 

If you’re wondering who gave the CDC the right to enact a moratorium on evictions, you’re not alone. Several organizations and lawmakers are questioning the CDC’s authority on this. One such organization is Pacific Legal, a non-profit that is suing the CDC on behalf of Ohio landlords for the right to evict. 

 

In Memphis, the right to evict now is more muddled. On the 16th. U.S. District Judge Mark Norris struck down the CDC’s moratorium, stating that the CDC had overstretched beyond their authority. Legally, the ruling means the moratorium is no longer enforceable in western Tennessee. In practice, it may be harder to evict in Memphis right now than usual, depending on whose legal advice you listen to. 

 

Financial Help For Landlords

 

If you have a Fannie Mae or Freddie Mac-backed loan, you are likely able to delay mortgage payments without incurring late fees or taking a hit on your credit score. 

 

The American Rescue Plan (ARP) is pending. A new stimulus package is in the process of being voted on by the Senate. (The House has already passed it.) The bill sets aside $25 billion for rental assistance and $5 billion for utility bill assistance, but includes another moratorium on evictions through September 2021. Since “the eviction ban is limited to federally guaranteed properties, those same borrowers are also eligible for forbearance through September 2021.”

 

Ideas to Help Tenants Get Back on Track

 

Landlords can also help themselves by helping their tenants get back on track with rent payments. Keep in mind that most tenants want to pay rent. They don’t want to get behind any more than you want them to. They don’t want to be evicted after the moratorium is ended. So it’s likely that your ideas will be welcomed. Here are some constructive ideas to consider implementing through your property manager.

 

Steer Tenants Toward Government Help

 

Most, if not all states, have put assistance programs in place for tenants who find themselves unable to pay rent. The National Low Income Housing Coalition has published a helpful spreadsheet that summarizes available programs, organized by state. That spreadsheet can be found here. There may also be local programs for city residents. In Memphis and all of Shelby County, a federal grant of 28.2 million is being disbursed to those who need help with rent and utility payments. Information can be found here.

CHN Housing Partners is available to help tenants with rent in Cleveland and all of Cuyahoga County.

 

Offer Partial Payments

 

When the eviction moratorium ends, many tenants will be woefully behind on rent. If you’ve ever fallen behind on a montage payment or a car payment, you know how hard it can be to catch up. Depending on your rental contract, you may have prohibited tenants from making partial payments. This is pretty standard in a boilerplate rental agreement. However, due to the extenuating circumstances of COVID, consider making an addendum where your tenants can make partial payments. If this situation lasts even three more months, This partial payments might add up to at least one month’s rent paid in full.

 

Offer a Temporary Reduction in Rent

 

Another way to help tenants is to temporarily reduce the monthly rent. Doing this might make the tenant feel confident that they can make the reduced rent after all. One option to try is to make the rent low enough so that it just covers your mortgage payment plus expenses. 

 

If you do decide to try any of these ideas, you should do so through your property manager. For the tenants who are truly struggling due to job loss or illness, the eviction moratorium makes sense. Unfortunately, that doesn’t make it any easier for landlords. Hopefully, the information above will make things a little more bearable until the pandemic is over. If you have questions or concerns about your rights where your turnkey rental is located, please don’t hesitate to contact us.

 

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How to Build a Family Legacy of Prosperity

If there’s anything that we have learned from the past year, it’s that families need to take care of themselves. As we all huddled in our homes waiting for it to be safe to socialize outside, we were faced with the fact that families are the most important thing we have in life. Many adult children were unable to be with parents or siblings who live in separate homes. We worried about their welfare, hoping they were safe and healthy. For parents with younger children who still live at home, some worried about being able to put food on the table after having lost their livelihoods. We learned that we can’t get too comfortable with a steady paycheck. We learned that self-reliability is not an option; it’s essential for survival. It’s a lesson learned the hard way; through personal experience. 

 

What is a Family Legacy?

 

A family legacy isn’t just one thing. It’s a combination of things that define what a multi-generational family is all about. A family legacy may include things like family traditions, family interests, inheritances and wealth. Every family has a family legacy, it’s just that some families build legacies consciously while others just kind of allow them to happen. It’s the families who consciously create and nurture family legacies that most often end up having healthy, prosperous family members and descendants, generation after generation. 

 

Of course, sometimes best intentions aren’t enough. Goodness doesn’t always prevail. We live in the real world, not a fairy tale. If a family breadwinner who works hard loses their job during the pandemic, it’s going to be extra hard to  create a family legacy of prosperity. It’s going to be extra hard to keep up a happy appearance at a sparse dinner table. 

 

But this is why it’s even more important to realize that a family legacy consists of more than just money in the bank. A family legacy can be one of perseverance, ingenuity, tenaciousness. It can be one of not only surviving, but thriving in the face of adversity. So no matter what level of adversity you’ve faced over the past year and a half, know that you can still build a family legacy of prosperity.

 

The Martel Family Legacy

 

In our family, we have begun to build a legacy, thanks to the thoughtful parenting and guidance of Eric and Lynn, our family patriarch and matriarch. As you may have read from some of the bios that we’ve posted on our website, Eric didn’t receive a lot of support from his own father in terms of investing in real estate. When he bought an apartment building at the age of 18, his father stopped speaking to him for a time. Eric didn’t learn how to manage money from his father. He learned that at college, where he studied to be an actuary. Lynn didn’t learn how to start a business and be an entrepreneur from her parents, either. Did you know that Lynn started and ran her own gourmet sauce brand that was stocked in Whole Foods stores around the country? She built that business from the ground up, through long hours and hard work, shaping her plan and making improvements along the way. Both Eric and Lynn learned the hard way—at the school of hard knocks—how to be successful entrepreneurs. Throughout the years, they experienced highs and lows. But they never gave up. They just picked themselves up and started over. 

 

When they had Antoine and Etienne, they implemented a different parenting style than they had experienced growing up. Antoine was bursting with business ideas from a young age, as you may have read about in many of his social media postings. What isn’t always obvious from the outside is the support—both financial and emotional—that Antoine received from his parents. Etienne’s path has been slow and steady. From a young age he knew he wanted to be involved with buildings somehow. He inherited his head for numbers and subsequently found himself intrigued with analyzing properties for economic viability. So much so that he impressed everyone he encountered and soon mentored under a real estate broker to get his own license. Now, of course, Etienne has taken his place overseeing new turnkey rental projects in Memphis. All this wasn’t just some fairy dust sprinkled over their cots when they were babies. It came about from Eric and Lynn, who nurtured and supported their sons in a way that helped them blossom and become the men they are today. When Antoine surprised his parents with a check on the Christmas tree one year to reimburse them for college tuition, it was possible because they had given Antoine the backing to learn and grow. All this wasn’t just a twist of good fortune. Antoine had dozens of business ideas that he tried out over the years. But when one failed he never gave up. He learned how to be flexible and keep learning and growing and trying new strategies. The same with Etienne. Why would he ever think that bringing his dad and brother to a real estate seminar was a good idea? Because he had learned to always be open to new challenges, new opportunities. He learned that from Eric. He learned that from Lynn. 

 

Now, our family business supports our entire family, as well as a handful of valued employees and independent contractors. Through our company endeavors, we are able to provide good-paying work for construction workers, real estate agents, property managers, clean up crews and more, in multiple cities. We have helped to refurbish neighborhoods, bringing up home values for property owners in the areas in which we invest. We are most proud of being able to help investors like you to realize passive income through our turnkey rentals. 

 

The Martel family legacy came about from a conscious effort by  Eric and Lynn to engrain in their sons the hope and trust that they could achieve their dreams. 

 

You can do that for your family too, no matter what your current bank account says. Here are some ideas for building your own family legacy of prosperity. 

 

 – Teach Your Kids About Money

 

In the olden days, kids were taught that it was rude to ask about family money. If a son asked his dad how much money they had, the question was quickly shot down. While it’s still impolite to ask others about how much money they have, it’s a good idea to be a little more open about family finances. Of course you don’t want to  expose details about family finances to kids. They don’t have the maturity to be discreet on the playground, etc. But it is a good idea to sit down with your kids and share tasks like bill paying, budgeting and balancing the checkbook, even if you have to use “dummy” accounts in order to preserve privacy. 

 

Another way to teach kids about money is to have children earn their money, instead of handing them cash in the form of a weekly allowance. An allowance might be best tied to certain responsibilities or tasks rather than letting kids think they just automatically get handed money every week for doing nothing more than existing.

 

 – Support Business Ideas 

 

Along the way, kids sometimes get business ideas. Consider supporting these ideas, even if you as an adult can see right away that they aren’t viable. Kids often learn best by doing, making mistakes and correcting. 

 

This may require a balancing act on your part. You want to be supportive without interfering. You want to give advice without making it seem like you’re taking over. It’s hard, but let your kids take the lead in how involved they want you to be.

 

 – Offer Inspiring Stories

 

Try to make good role models front and center. Kids have too many people out there, making it look like all you need to do to succeed is take a good selfie and gain as many followers as possible. Try to counter this kind of influence with true role models; people they can relate to. For instance, Antoine Martel started investing at just 19 years old. Just three years later he had helped build a million dollar business. 

 

 – Let Kids Know; the Earlier the Better

 

Kids don’t have to wait until they’re out of college or a few years into their first professional job to start learning about investing. Let your kids know that it’s never too early to invest. Actually, the earlier the better. If your child can save up money from their part-time jobs while still living at home, this will give them a huge advantage toward being financially independent later on. While Antoine was still in college, he was already learning about real estate investing and making passive income off of his first rental property. 

 

 – Share Your Own Failures and Successes

 

When you have the opportunity, share your own failures and success stories with your kids. Remember, they don’t know much about you from before they were born. It’s good for them to learn about the struggles you faced and overcame. In a way, it will help them to see that they, too, can be faced with similar challenges and get past them. 

 

 

In the next few weeks, we’ll be sharing something special about a new aspect of our Martel family legacy; something we’ve been wanting to do for a long time. For now, we hope that your family can be safe, happy and prosperous. As always, if we can help with questions you have about turnkey rental income, please don’t hesitate to contact us.

 

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Cleveland Transforms Into an Even Better Investment Over the Past Year

While the rest of the country in 2020 and 2021 has been dealing with COVID restrictions, civil unrest and business closings, Cleveland, Ohio has quietly been transforming into an even better real estate investment market. For the past several years, MartelTurnkey has recognized Cleveland for its attractive real estate investment opportunities. But even we are impressed with the positive developments we’ve seen in Cleveland, Ohio over the past 12 months. Let’s take a look at all the news that’s come out of this city on the southern banks of Lake Erie.

 

Innovation District Announced

 

In January of 2021, the City of Cleveland announced the formation of an Innovation District. For those who haven’t yet heard this term, an “innovation district” is defined as a physically-demarcated section of a city dedicated to the interests of investment and collaborative workings. Innovation districts can consist of existing buildings and workspaces, new construction, outdoor spaces, lab workspaces and/or a mix of them all. In the case of Cleveland, Ohio, their newly announced Innovation District is planned in collaboration with Wright State University, corporate entities, Case Western University, three major hospitals , Cleveland State University and more. The goal of a project like this is to support startups, advance research, create new jobs and to boost further development within city boundaries. 

 

Carvana Building $23 Million Facility in Lorain County

 

Lorain County borders Cuyahoga County. It is considered part of the Cleveland-Elyria Metro Area. In December of 2020, online auto dealer Caravan announced plans to build out a $23 million facility on 124 acres at the old Spielberg Orchards location in Lorain. Updated reports indicate that the project could be nearly complete by the end of April 2021. Carvana plans to employ roughly 400 employees with a total estimated payroll of $13.3 million. While Lorain, Ohio isn’t within Cleveland city limits, this new facility is only half an hour’s drive southwest of Cleveland city center. It’s reasonable that a Cleveland resident could commute to the Caravana facility for work.

 

USPS Hiring For 150 Positions

 

Even the United States Postal Service is getting in on the act in Cleveland. The USPS is actively seeking to fill 150 jobs in Cleveland and Akron. The starting wage is $17.29 per hour, with jobs available in the sorting and delivery departments. Candidates do not need a college degree; in fact, the USPS hires people as young as age 16 as long as the person has a high school diploma or GED.

 

LinkedIn Reports Influx of New Cleveland Residents

 

During the [ongoing] pandemic, 6% of Linkedin members moved to Cleveland to work either remotely or in an office, according to a study by LinkedIn. Cleveland ranked 5th, below Jacksonville, FL, Sacramento, CA, Richmond, VA and Salt Lake City, UT. 

 

MedPilot Thriving After Move to Cleveland

 

Healthcare startup MedPilot is a medical technology company that offers AI and machine learning capabilities to physician appointment administration, patient billing, marketing surveys and doctor-to-patient communications. MedPilot sells their software and algorithm to hospitals, walk-in clinics, urgent care facilities and private physician practices. The company was founded in New York, but relocated its headquarters to South Marginal Road in Cleveland in order to better collaborate with Cleveland Clinic, University Hospitals and Explores. 

Co-founder Matt Shapiro says, “Where better to grow a health care technology company than Cleveland? I’m here to tell the story that it is possible to build a company, hire talented employees, raise funding, and, ultimately, successfully sell a company in our very own Cleveland, Ohio. One of the biggest decisions we made in the past five years was moving our company from New York City to Cleveland. Having our startup acquired is a significant win for our employees, customers, stakeholders, and the city of Cleveland.”

 

Filming of New Netflix Movie to Take Place in Greater Cleveland 

 

On the first of March, 2021, it was announced that Cleveland is where Adam Driver’s latest Netflix movie will be filmed. The movie is an adaptation of the novel, “White Noise,” by Don DeLillo. Filming in Cleveland is expected to go on for about seven months. Mike Wendt of the Greater Cleveland Film Commission says that the Ohio Film industry is hopeful that the project will kickstart the film industry needs. Location scouts have already been busy on reconnaissance trips to Hiram College campus and Hiram village in nearby Portage County. Film projects typically boost local economies in various ways; restaurant sales, catering, sales taxes, city permits and more. And, as per usual, there will likely be opportunities for amateur and professional local actors to play as extras and even possibly supporting roles. 

 

Federal Stimulus Money Coming to Cleveland

 

Cleveland is set to receive a huge bundle of Federal stimulus money that surpasses the amount of any other city in Ohio. Cleveland is eligible to be the recipient of more than $541 million over the next two years. The government of Cleveland has no set plans for the money until Federal confirmation is received, but it’s likely that one use will be to shore up reserves that were spent during the height of the pandemic. Mayor Jackson’s spokeswoman Latoya Hunter says, “Like cities across the nation, Cleveland has been negatively impacted by the COVID-19 pandemic and we are confident this funding will help us continue to deliver the vital services and programs our residents and businesses need during this difficult time.”

 

Like other cities in MartelTurnkey’s portfolio of turnkey rentals for sale, Cleveland has become a sizzling real estate investment market. Not only are there plenty of opportunities for positive cash flowing turnkey rentals, but there is an abundance of well-paying jobs both now and in the future. Property values could rise accordingly, if historical patterns hold true. Now’s a great time to get in on the Cleveland real estate market. Make sure you sign up for our VIP Buyers List so you can see new listings before anyone else, and check our site regularly for newly available turnkey rentals in Cleveland and other areas.

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Electric Vehicle Assembly Plant Planned For Memphis

Memphis continues to make headlines as a base for innovation and technology-driven companies. Just this month, California-based car company Mullen Technologies applied for a contingency-based tax break with the Economic Development Growth Engine (EDGE) for Memphis & Shelby County. The application cites plans to make use of the previous, now vacant Nike plant located at 8400 Winchester Road in Memphis. The plan includes building out the facility, which consists of 817,000 square feet for an electric vehicle (EV) assembly plant. The application will be reviewed by EDGE as early as March 17th. 

 

As Many as 700 New Jobs For Memphis

 

In the application, Mullen is committing to 434 new jobs for Memphis, but has plans to hire as many as 266 more as they increase output, bringing the total new job potential to 700. According to the application, the average annual salary for the committed 434 jobs would be $53,000. Details on specifically what kinds of jobs will be created aren’t available, but jobs in similar electric vehicle assembly plants include things like: EV Technician, Material Handler, Battery Test Technician, Production Assembler, Design Application Engineer and more. No doubt there will be a mix of entry-level and experienced workers needed at the new EV plant in Memphis. 

 

Who is Mullen Technologies?

 

Mullen Technologies is relatively new to the EV game. They aren’t as old as Tesla, but then again, they’re very different than Tesla. Mullen Technologies is a licensed EV manufacturer with international distribution and several strategic partnerships. For instance, they own CarHub, an AI-style platform for car buying and selling. They’re also partnered with Qiantu Motor, which is a subsidiary of a leading automotive design and manufacturing company in China. Qiantu and Mullen partnered in 2018 to bring assembly and distribution to the U.S.. Qiantu has been in business since the early 2000’s. Its K50 model EV with a dragonfly logo debuted at the Shanghai Auto Show in 2015. Fast forward to today and one of Mullen Technologies’ signature EVs is the Dragonfly K50. The dragonfly is intended to mean that the vehicle will be light and as quiet as a dragonfly. Mullen Technologies also plans on assembling another EV, an all-wheel drive SUV called the Mullen MX 05. Pre-orders for this model and the Dragonfly K50 sports car are already being accepted with leasing and financing available. Motortrend magazine has already featured the Dragonfly K50 as a supercar. 

 

The Future of EVs in the U.S.

 

The trend toward EVs has a momentum that doesn’t show any signs of slowing. Already, states and companies are passing legislation and making plans to support EVs over gasoline-fueled vehicles. A year ago in California, Governor Newsom banned the sale of new gas-powered vehicles by the year 2035. Just this month, the city of Petaluma has banned the creation, expansion, reconstruction and relocation of gas stations. While they are the first, many other cities are likely to follow in their treads.

 

According to estimates by the Edison Electric Institute, over 18 million EVs will be on the road less than 10 years from now.  Other experts predict a five-fold growth surge that may reach upwards of 7 million EV sales by 2025. In anticipation of a boom in EV sales, energy giants Duke and AEP, plus four other utilities are making plans for a network of fast-charging stations along major highway interchanges in the South, Midwest, Gulf and Central Plains regions. Currently, over 90% of U.S. states have some version of an EV charging infrastructure incentive plan already in place. 

 

Changing the Face of Memphis 

 

As noted, the tax break application has a contingency. The 15-year “Payment in Lieu of Taxes” (PILOT) tax break wouldn’t go into effect until Mullen successfully achieves a funding goal of $336 million, signs a 15-year lease and spends the first $15 million on property improvements.  But with plans to invest $362 million into the Memphis project, it’s a certainty that if this becomes a reality, Mullen Technologies will change the economic landscape of Memphis as well as the physical landscape. 

 

This is an optimal time to invest in Memphis with turnkey rentals. Property values may continue to rise and you could realize profits and appreciation faster than ever before. Get in now. If you’d like to see our available properties as soon as possible, sign up for our VIP Buyers Mailing List.

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Celebration of Cleveland Women in History

As a turnkey rental company, MartelTurnkey typically offers properties with returns on investment in the range of 12%, 15% or more. Our goal is to make sure our investors have access to beautifully renovated turnkey rental properties in Cleveland, Memphis and other cities where they can reap gains from positive cash flow and appreciation. In the process though, investors like you should also feel proud that you are an active participant in helping to make Cleveland neighborhoods better. You support us, and we support Cleveland by improving properties, one by one. As it happens, Cleveland has a long history of women who have strived to make Cleveland better, one by one. March is Women’s History Month and we celebrate the women who have helped to make Cleveland the great city it is today.

 

Dorothy Fuldheim was an acclaimed television broadcaster and news analyst who won numerous awards, including; United Press International Award for Editorial Excellence, the Overseas Press Club award, Woman of the Decade Award and the Israeli Freedom Award. She was the United States’ first anchorwoman as part of a news team. Beginning her career in 1924 as a news broadcaster at Cleveland’s Scripps-Howard WEWS broadcasting station, she went on to work for the Cleveland Press, where she interviewed such illustrious persons as Adolf Hitler, the Duke of Windsor, John, Robert and Ted Kennedy, Jimmy Hoffa, Helen Keller, Arthur Rubinstein, Winston Churchill and Albert Einstein. Her last interview was with Ronald Reagan, in 1984. Fuldheim was posthumously awarded an Ohio Historical Marker in 2003 for her contributions to journalism. 

 

Darlene Owens was the first female pipefitter in Ohio, overcoming  barriers due to sexism and racism. Those in construction know that pipefitting is one of the most strenuous jobs in the business. After three and a half years of apprenticeship, Owens rose to become a journey-level tradeswoman. During her career, Owens actively fought for minority rights within her union. She became a role model for women and was regularly asked to speak at Cleveland high schools, where she informed young women about non-traditional career opportunities. She was elected and served as President of the Hard Hatted Women organization. Owens and several other women helped to build the BP America Building, which still stands today at 200 Public Square in Cleveland. It’s notable that she achieved all these things while being a single mother to three children. 

 

Josephine Irwin lived the bulk of her life in the western suburbs of Cleveland. She first championed the suffragette movement in 1914, when she appeared in the Cleveland Leader newspaper as one of five horse-mounted escorts leading a suffragette parade of 7,000 down Euclid Avenue. She was active in the League of Women Voters and the Women’s Action Committee for Lasting Peace, the latter of which she served as Ohio State chair prior to World War II. After the war, Irwin became the first woman elected to the City Council of Fairview Park. In later years, she was active in the Women’s Equity Action League, Women’s Political Caucus, National Organization of Women and Common Cause. The National Organization of Women’s Cleveland chapter instituted the Josephine Irwin award, which they confer upon a woman who has achieved something momentous in the area of political justice for women. WomenSpace of Cleveland also has a Josephine Irwin award, given to a woman who has done something outstanding in the area of social justice for women. 

 

Mary Beaumont (AKA Mother Mary of the Annunciation) came to live in Cleveland from France with four other women to form the Ursuline Nuns of Cleveland. Dedicated to the pursuit of education for women, she founded Ursuline College, the first charter school for women in Ohio. She and the other nuns established girls’ academies in Toledo, Tiffin and Youngstown. They taught the poorest of the poor in communities in and around Cleveland, as well as the upper classes and immigrants. Her motto, “Whatever you have, graciously share it with others,” has reverberated through communities and the halls of Ursuline College, which is still in operation today as one of the oldest higher education institutions in the U.S. 

 

Minnie Player was a spokeswoman for minorities, the poor and for women throughout Ohio. Born in rural Alabama, she came to Cleveland and became leader of Cleveland’s Welfare Rights Organization. Player worked diligently to improve the welfare system in Cleveland and to help low-income families. Through her tireless efforts she created hunger centers, improved public assistance levels and organized clothing donations. Player’s work has been highly recognized with awards, including the Edith McIntosh Award presented by the Council of Economic Opportunities, the Outstanding Devotion Award presented by the Council of Negro Women, a Certificate of Appreciation presented by the International Kiwanis Club, and an Outstanding Service Award presented by former Governor Richard Celeste and the Ohio Senate.

 

Rubie McCullough was an advocate of education for all. She came to Cleveland as a public school teacher in 1945, working for the Phillis Wheatley Association. Later, she founded the Harvard Community Services Center, where she became Executive Director. McCullough was a passionate public speaker, taking every chance to convey the importance of education and the opportunities that it proffers. She heavily supported the Cleveland Public Library, the Cleveland Public School System, and Cuyahoga Community College. In her role on the Board of Trustees of Cuyahoga Community College District, she helped build the college into Ohio’s first and largest two-year institution. McCullough received numerous awards during her lifetime, including the Outstanding and Dedicated Service Award from  John F. Kennedy High School, Career Women of Achievement Award from the YWCA and the Ebony Rose Most Honored Woman Award.

 

This is a truncated list of a very long line of women in Cleveland history who have made strides in all areas of life; education, religion, politics, industry, social equality, the arts and much more. Make no mistake, Cleveland is still a vibrant hot bed of innovation, activism and women who are willing to dedicate their time and resources to ensuring that people everywhere have what they need–not only to live–but to thrive. 

 

At MartelTurnkey, we are proud to play our part by improving properties, making neighborhoods more beautiful and ultimately helping Cleveland families have a higher quality of life. Although we are a value-added business and you are an investor looking to earn a profit, being part of something bigger is a wonderful feeling. Don’t you agree?

 

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What’s the Deal With Appraisals?

A property appraisal is a report that is ordered by a lender, which enables them to objectively assess the fair market value of the property. Lenders have appraisals done because ultimately they are staking the purchase and they don’t want to pay more for a property than what it’s worth on the existing market. Note that although lenders order the appraisal, it’s the buyer who pays for it.

 

While appraisals are primarily for the sake of lenders, property appraisals are helpful to buyers in situations where a seller prices their property too high (often for reasons that don’t have to do with market rates). They are also helpful to alert buyers as to when they’re getting a fair deal or—in cases where the appraisal comes in lower than the asking price—a great deal.

 

Appraisals are conducted by trained and licensed appraisers. Since the lender orders the appraisal, buyers and sellers have no say in who the appraiser will be. Lenders often keep a list of approved appraisers in areas where they lend. They’ll choose one off the list and provide the contact information so the appraisal can be scheduled by the seller. 

 

The Differences Between an Appraisal and an Inspection

 

A lot of folks tend to mix up appraisals with inspections, but they aren’t the same thing. The first difference to be aware of is that an appraisal is conducted by an appraiser, while a home inspection is done by a home inspector. These are two different certifications for people who are trained to look for different things on the property. While there is some overlap regarding what’s covered, there are also some things that a home inspector looks at that an appraiser doesn’t, and vice versa.

 

Both a home inspector and an appraiser visually inspect the major systems of the property, including the HVAC, roofing and foundation. Beyond that, here are their respective areas of purview:

 

Home Inspector

 

 – Provides a report outlining the condition and age of many things throughout the house, including cosmetic appearance and repair/replacement recommendations. In our business, this report is paid for by the buyer, who is then given the report for review. 

 

Appraiser

 

 – Researches the sales comps in the area and includes that research in their subsequent report

 – Submits a report to the buyer, lender and seller that details how they arrived at their final number

 

Another big difference between an appraisal and an inspection is that an appraisal is always part of a real estate transaction, whereas an inspection isn’t. An appraisal is always ordered by the lender. The lender never orders an inspection; it’s at the option and expense of the buyer. 

 

The job of an appraiser is to calculate the fair market value of the property. The job of an inspector is to report on the age and condition of things throughout the property and to make recommendations for repairs or replacements based on those findings.

 

When an Appraisal is Surprising

 

Appraisals should come in at or near the selling price of a property. However, often the appraisal comes in high or low. When it comes in high, the seller isn’t obligated to sell at their original asking price. They may back out of the sale and then raise their asking price based on the high appraisal. However, in the case of a turnkey rental from MartelTurnkey, if an appraisal comes in higher than the asking price, we’re more than happy to complete the sale. We’re delighted when our value-added renovations have increased the value of our turnkey rentals to the point where our buyer gets automatic equity!

 

Generally, when an appraisal comes in lower than the asking price, there’s a decision to be made. The seller either needs to lower their price because the lender won’t lend enough for the buyer to complete the sale; or the seller must add additional funds to cover the gap.  Some sellers won’t budge on price or add additional funds, in which case whole deal may fall apart.  

 

If an appraisal comes in too low on a turnkey rental property from MartelTurnkey it’s not a problem. We are willing to either improve the property further so a second appraisal comes in higher, or we can adjust the selling price to match the appraisal. 

 

Why Appraisals Matter

 

Appraisals are important to everyone; the lender, the seller and the buyer. But no one benefits more from the appraisal than the buyer. The appraisal has a lasting impact on the buyer’s experience of owning that property. First, of course, it directly impacts whether the lender will lend them the money to buy in the first place. Then it impacts whether they’re getting a fair deal from the seller. But down the line, the appraisal impacts how much property tax and how much property insurance they’ll pay for the entire time they own that property. The town’s tax assessor uses the appraisal to calculate taxes. Homeowner insurance companies use the appraisal to determine the replacement cost and calculate premiums. 

 

Even more so, if the property owner goes for a loan in the future, or wants to become an accredited investor, the appraisal will be used to determine the value of the asset—the property. 

 

Now, appraisals can change. New appraisals supersede previous appraisals. Obviously, if the market goes up, the value of the property goes up. New appraisals can be ordered by the owner at any time for any reason. When an owner is ready to refinance or apply for an equity loan, the prospective lender will likely order a new appraisal. 

 

At MartelTurnkey, our goal is to sell turnkey rentals at fair market value to our investors. But in those rare circumstances when an appraisal comes in low, we’re willing to work with you to make it right. If you’d like to learn more about what it’s like to work with us, we’d be happy to chat with you. Send us an email or schedule a call.

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Real Estate as a Hedge Against Inflation

Over the course of the past year and a half, the U.S. government has disbursed trillions of dollars of free money to individuals. The money is intended to help struggling families that are impacted by the business restrictions that have been placed on society due to COVID. Two rounds of this “stimulus” money have gone out thus far; a third round is currently pending final approval. But many are concerned about the future consequences of injecting so much cash into the economy. As needed as these payouts may be, are we setting ourselves up for an even worse economic scenario?

 

Will Stimulus Money Lead to Inflation?

 

Financial experts are divided on whether or not the stimulus money payouts will lead to inflation. On the one side, the very definition of inflation is a continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services, along with rising prices. Stimulus money certainly meets the criteria of “an increase in the volume of money.” There are many financial pundits warning of coming inflation; particularly if the third round of stimulus payouts goes ahead.

 

On the other hand, those on the opposite side of the coin claim that stimulus money is unlikely to cause inflation. There’s an argument that the link between printing more money and consumer prices has become weaker in recent years. And, there is some evidence showing that while the dollar’s value might be falling, prices aren’t rising (which is the other half of the criteria to merit inflation). 

 

So which side are you to believe? The side that warns against stimulus money and says we’re all headed toward inflation, or the side that says the old indexing metrics don’t apply anymore? The truth is, no one knows. People might say they do. They might say that they correctly predicted previous economic collapses (and maybe they did). But no one has a crystal ball. In the end, the economy is a complex mechanism made of so many moving parts that it’s impossible for anyone to foretell for certain what will come. All you can do is hedge your bets. And real estate is a great hedge against inflation.

 

Real Estate as a Hedge Against Inflation

 

Real estate as an investment class is categorized as a hard asset. Hard assets such as real estate, commodities, natural resources and precious metals have inherent power to hedge against inflation. Real estate has an advantage over other hard assets because it can also bring in income as well as hedge inflation.

 

There are two basic kinds of real estate; real estate that appreciates, and real estate that cash flows. Most properties do one or the other very well, but the two are not mutually exclusive, either. You can have a property that appreciates and cash flows. Or you can also have a property that only appreciates, or a property that only cash flows. All real estate property hedges against inflation because all real estate either cash flows, appreciates or does both. 

 

Appreciating value of real estate hedges against inflation because, as comparable land and property prices increase, so does the value of the land and property of your real estate asset. This companion rise in value preserves your investment in a property that appreciates. 

 

Cash flowing real estate hedges against inflation as a consistent source of set income. If scarcity becomes a factor during times of inflation, that rental income can even go higher because rents can go higher.

 

Turnkey Rentals Can Offer Appreciation and Cash Flow

 

Just like other kinds of real estate, turnkey rentals are a hedge against inflation. The primary reason to invest in turnkey rentals is for cash flow. But many turnkey rentals also offer some appreciation in addition to cash flow, which is the best of both worlds. Turnkey rentals may not appreciate as quickly as some other property types; but if you value diversity in your investment strategy, wouldn’t you rather have both appreciation and cash flow instead of just one or the other?

 

We all need to be financially prepared, whether inflation worsens from stimulus money or not. You can batten down the hatches by investing in hard assets like turnkey rentals. MartelTurnkey offers turnkey rentals in landlord-friendly cities like Memphis and Cleveland. Let us help you shore up your finances against the possibility of inflation. Contact us today to learn more.

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Meet the Martels

You probably know a lot about MartelTurnkey and the quality turnkey rentals that are available here on the website. But how much do you know about the Martels themselves? Since MartelTurnkey is a family company, we thought you’d like to get to know each family member a bit more personally, beyond their professional roles in the company. So here’s your chance to meet the Martels: Eric, Lynn, Antoine and Etienne.

Eric Martel

As the patriarchal head of the Martel family, Eric Martel is a father whose first priority is to love and protect his family. He decided long ago that family was more important than working long hours for the almighty dollar. In doing so, he and his two sons discovered a path to passive income that led to MartelTurnkey.

 

Being a father to Antoine and Etienne has been an adventure in itself. Eric supported a succession of interesting entrepreneurial projects thought of and implemented by Antoine. And he has always supported Etienne’s dreams of working for himself one day. A lover of adventure, Eric made a point of showing his young sons as much of the world as he could afford and helping them to see the possibilities in the world around them. Trips to Costa Rica and Italy were paid for with long hours and business trips that took Eric far from home. The formation and building of MartelTurnkey changed all that, and Eric is now able to work alongside his family, not away from them. 

 

Eric is always enthusiastic about trying new things and enjoying every bit that life has to offer. He enjoys boating, fine wines, good food and outdoor activities like hiking, biking and open water swimming . He’s also a fantastic cook, although it’s always a toss up between he and Lynn as to who gets dibs on the kitchen at dinner time. A statistician and actuary, Eric is the analyst at MartelTurnkey, creating spreadsheets, charts and graphs tracking and predicting trends with incredible accuracy.  Eric is proud of his first book, which came out this year, entitled, “Stop Trading Your Time For Money.”

Lynn Milos Martel

As matriarch of the Martel family, Lynn has provided a happy and comfortable home for her husband and sons—no matter where that home has been. Lynn grew up in Vancouver, although she was born in Niagara Falls, Canada. Her brother introduced her to his boating buddy, Eric, and it was love at first sight. 

 

Always excited to travel, and in search of a better climate and tech opportunities, Lynn managed the family’s relocation to the San Francisco Bay area with their two young sons, Antoine and Etienne. The West Coast suits Lynn’s personality and talents. Lynn’s vivacious personality has always attracted a bevy of friends and admirers, as well as fueled her career success. As manager of the VIP level at the Ritz Carlton, she achieved 100% guest satisfaction month after month. Her creative spirit, knowledge and natural love of fine wines and food led Lynn to create several small businesses along the way, including a health food store and an award-winning gourmet sauce brand that was sold in over 700 stores in the U.S. and Canada.

 

Lynn’s adventurous and trusting heart helped start the MartelTurnkey company we all know and love today. When her husband and sons wanted to sell the family home in order to help grow MartelTurnkey, Lynn didn’t hesitate to give the okay. Now, Lynn plays a key role in the continuing success of MartelTurnkey as a sales and investor advisor. In her own words, “I believe in building customers for life.” In her spare time, Lynn enjoys hiking, skiing, traveling, cooking and leading wine tasting Zoom events.

Antoine Martel

Of all the Martels, Antoine is the one with the most visibility online. You can find him on Instagram, Twitter, Facebook, YouTube, TikTok and…well, by the time you read this, he’ll probably be all over a brand new social media platform. The reason is pretty simple. Antoine believes in sharing information and knowledge. He’s not just posting random shots of his on-field encounter with “the Biebs.” (Well, just that once). No, he’s posting real, actionable advice to seasoned and wannabe real estate investors. 

 

The ironic thing is, Antoine is a self-described introvert. In person, he’s super quiet and thoughtful. Literally, he’s always thinking and working on some new idea. While he’s not going to be the life of the party, he will be the one you can count on for a lift home, for help with your rehab project or basically with anything you need. He has lifelong friends that he made all the way back in grade school because he is that loyal guy who you can trust and depend on. 

 

Because he’s so passionate about real estate, Antoine is very involved with all aspects of MartelTurnkey. People have wondered if he ever sleeps. (No really, people have asked him that.) For the record, he does get in his eight hours and he also has an active social life with his family and his friends. He loves, loves playing soccer and even once played at a special event against a group of inmates at a jail for charity. He enjoys grilling with his roomies, photography and hiking in the hills around Los Angeles.

Etienne Martel

In college, Etienne Martel envisioned becoming an engineer and working for Elon Musk. (With his grades and natural acumen for numbers, he could have done it, too.) When he discovered the possibilities with real estate investing, he was even more intrigued. He got his real estate license and started mentoring under a successful local professional. Being a fast learner, he soon discovered the opportunities in being an investor rather than an agent, and it was during that period of time that Etienne joined his father and brother in creating MartelTurnkey.

 

Etienne is constantly looking for new challenges. As his role at MartelTurnkey evolved, he became more and more adept at being able to recognize smart deals. He started a “deal a day” project where he’d help other investors calculate a deal to see if it was viable or not. Always eager to help others but not being particularly socially extroverted, Etienne found that this was a great way to engage with people and to share his experience and knowledge.

 

A lifelong learner, Etienne enjoys watching documentaries and reading biographies. He’s endlessly curious about how things work and how they’re made, which makes him the ideal person for MartelTurnkey’s new boots on the ground in Memphis. Etienne enjoys all the aspects of construction and remodeling and he’s a natural at making sure that rehab projects stay within the budget. When he’s not supervising construction projects, you can find Etienne enjoying a delicious meal, since he was spoiled for good food from growing up with mom and dad. He’s also an avid workout enthusiast. He enjoys spending time with his girlfriend, friends and family, doing everything from fishing to taking helicopter rides, to playing strategy video games. He also loves cars!

 

There’s at least one thing that’s true of every Martel family member, and that is their commitment to you. Each and every person–Eric, Lynn, Antoine and Etienne–is dedicated to offering you the most positive cash-flowing properties as possible, with the best value in appreciating markets. If you have any questions about the turnkey rentals on the site or about investing in real estate in general, please don’t hesitate to get in touch.

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20 Fascinating Facts About Cleveland

At MartelTurnkey, we’re also heavily invested in Cleveland, Ohio. While we love this city for its job opportunities for tenants, generous landlord laws and fantastic cash flowing properties, there are many other fascinating facts about Cleveland that you might like to know. We’ve compiled an assorted list of juicy tidbits about this northernmost major city in Ohio. We hope you enjoy reading them as much as we enjoyed putting them together for you!

 

 

1. Superman was born in Cleveland.  When the superhero was created in 1933, writer Jerry Siegel and artist Joe Shuster were students at Glenville High School.

 

2. The phrase “Rock and Roll” was first coined by Cleveland DJ Alan Freed in the 1950s, and the city also was home to the first official rock and roll concert in the nation, which was known as the Moondog Coronation Ball.

 

3. In 1898, Cleveland golfer and inventor Coburn Haskell accidentally invented the modern golf ball by devising the wound rubber design used in today’s balls.

 

4. Margaret Hamilton, best-known for her role as Dorothy’s nemesis, the Wicked Witch of the West in the classic film “The Wizard of Oz,” was born in Cleveland.

 

5. Cleveland is the “Midwest Hollywood,” with numerous movies having been shot on-location in the city.  Among the movies shot in Cleveland are “Men in Black,” “The Avengers,” “Planes, Trains, and Automobiles,” and the holiday classic “A Christmas Story.”

 

6. Of all the orchestras that are famous worldwide, the Cleveland Orchestra is always ranked as one of the top 10 orchestras in the world.

 

7. Cleveland’s name is a typo.  Since the city was named after General Moses Cleaveland, it should have had an extra “a” in its name.  However, a local paper did not have enough room on its masthead for all the letters, so the extra “a” was dropped and never returned.

 

8. Eliot Ness, of the “Untouchables” and the man primarily responsible for reigning in crime boss Al Capone, was actually employed as a Public Safety Director in Cleveland before he moved to Chicago.

 

9. Cleveland has a river that has caught fire an amazing 13 times.  The Cuyahoga River, which runs through much of northeast Ohio before meeting up with Lake Erie, has had the part of it that runs through the city ablaze on numerous occasions.

 

10. Italian chef Ettore Boiardi, also known worldwide as Chef Boyardee for his famous cans of spaghetti and meatballs, lasagna, and other delicacies, opened an Italian restaurant in Cleveland in 1924.

 

11. Cleveland is a city known for fashion.  In fact, Fashion Week Cleveland is considered to be one of the world’s most important showcases for new fashions and their designers.

 

12. The Cleveland Merry-Go-Round Museum has long been thought to be haunted by ghosts, so beware on your next visit.

 

13. Believe it or not, Cleveland has 20 sister cities around the world, ranging from Lima in Peru to Brasov in Romania and even Alexandria in Egypt.

 

14. Cleveland has always been a science and technology hub.  Whether it was in 1879 when Charles F. Brush invented the electric streetlight, to more modern inventions such as X-ray machines and full-body scanners, you have Cleveland to thank for these and numerous other innovations.

 

15. The popular Life Savers candy was invented in Cleveland by resident Clarence A. Crane. Crane was actually a chocolate maker who began in 1891. In 1892, he invented “Crane’s Peppermint Life Savers” to help compensate for his fledgling chocolate sales. After overcoming numerous obstacles, the candies became a hit and still are to this day.

 

16. “Hang On Sloopy” is the official song of MLB’s Cleveland Indians.

 

17. Cleveland used to have a lively bustle of streetcars rattling throughout the city. They were discontinued in 1954, but the old streetcar tracks and connecting station still exist beneath the current city streets. Every now and then they become open to the public as a tour, so keep your eyes and ears peeled.

 

18. Spelunkers will be interested to learn about nearby Seneca Caverns, discovered in 1872 by two intrepid youngsters, Peter Rutan and Henry Komer. While hunting rabbits with their faithful canine, both dog and hare disappeared before the boys’ very eyes. The boys found the opening to the cavern behind a pile of brush and proceeded to unceremoniously topple in as their dog had just moments earlier. Luckily it was a small matter to escape, whereupon they reported their discovery to their families. Temporarily closed due to COVID, the cave is normally available for tours. 

 

19. The first bank heist to ever be captured on hidden camera was committed in Cleveland, Ohio at the St. Clair Savings & Loan Co. Back in 1957, surveillance video was almost exclusively the purview of the military; it was only beginning to be used in commercial establishments. Unfortunately for the bandits, the video led to swift arrests. 

 

20. If you’re seeking fame and fortune, Cleveland might not be top on your list of destinations. But plenty of famous celebrities hail from Cleveland, including: Actress Halle Berry, author Toni Morrison, actor Terrence Howard, singer Tracy Chapman, host Steve Harvey, actress Patricia Heaton, singer Machine Gun Kelly and lots more. 

 

Every city has its interesting past, but we like to think that Cleveland, Ohio is one of the more fascinating parts of the country. We base our investment decisions on cold, hard data, but the fact remains that Cleveland is a vibrant city rich in history and promising for the future. We continue to be enthusiastic about investing in Cleveland and we hope you are, too.

 

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25 Interesting Facts About Memphis

It’s essential to learn as much as you can about an area before investing. But what you need to know as an investor about a city such as Memphis often overshadows the truly interesting facts about an area. Sure, Memphis is home to some of the largest employers in the world, like Fedex and AutoZone. That’s important to know as far as job opportunities for your tenants. But did you know that the FedEx hub in Memphis was one of the filming locations for the blockbuster movie Cast Away? Cool, right? There’s lots of other interesting stuff to know about Memphis, too.

 

1. Memphis was named by President Andrew Jackson, who named it for the Egyptian city, Memphis.  South of the Nile delta, Memphis was a flourishing city and capital of Egypt for thousands of years.

 

2. Along with General James Winchester and judge John Overton, Andrew Jackson co-founded Memphis, TN with the intent to turn it into a center for commerce.

 

3. Mark Twain called Memphis the “Good Samaritan City of the Mississippi.”

 

4. Memphis International airport is the busiest cargo airport in the United States and the 2nd busiest cargo airport in the world

 

5. Beale Street is officially recognized as the Home of the Blues by the United States Congress.

 

6. The concept for the Memphis Zoo was started in 1904, thanks to the benevolence of Colonel Robert Galloway. Galloway sought to purchase and find a permanent home for Natch, a Southern black bear who was being constantly chained to a tree in Overton Park. A mascot for the Memphis Turtles baseball team, Natch had been traded to a local businessman as payment for a debt. Galloway got his contributions and Memphis Zoo was born. Memphis Zoo is now home to over 4,500 animals and has been ranked as the top zoo in the country by two independent surveys. 

 

7. Piggly Wiggly was founded in Memphis as the United States’ first self-serve grocery store, where customers were finally allowed to peruse the grocery aisles for themselves. Prior to that, customers had to compile their grocery list and wait while a clerk collected the items for them.

 

8. Elvis Presley wandered into Sun Studio on a sultry summer day in 1954 to record a song for his mama called “That’s All Right.” It was then and there that he was discovered by Sam Phillips’ secretary and the legend was born. Elvis went on to record at least 24 songs for Sun Studio.

 

9. Elvis bought Graceland in the spring of 1957 for $102,500 as a gift for his parents, Vernon and Gladys. Now owned by his daughter, Lisa Marie Presley, the home was listed in the National Register of Historic Places, and in 2006 it was declared a National Historic Landmark. It’s considered a must-see for all Memphis visitors.

 

10. The former Lorraine Motel, where the Reverend Martin Luther King, Jr. was assassinated in April of 1968, has been converted into the National Civil Rights Museum along with surrounding buildings. The thought-provoking and inspirational exhibits on display trace the long and arduous history of the civil rights movement. Listed on the National Register of Historic Places, the museum has also been bestowed the honor of becoming a Smithsonian Affiliate museum. A tour of this important historical site is almost mandatory for visitors of all ages from around the world. 

 

11. Way back in 1973, Fred Smith changed the world with his own dream; one of an international shipping company. FedEx began in Little Rock, AK, but was struggling to survive there. Smith decided to relocate the company to Memphis. That decision is now said to have been the “single most important economic development decision made in any U.S. city in the past 30 years.” FedEx is not only the lifeblood of Memphis, but remains the leading international shipping company in the entire world. 

 

12. Memphis was the birthplace and lifelong home of the first black millionaire in the South, Robert Reed Church. Born into slavery, Church not only helped himself, but also his community. He founded the first local bank that would extend credit to blacks, and continually used his wealth for philanthropic purposes throughout his life. 

 

13. Memphis is famous for its Memphis-style barbecue. The world-famous Memphis-style barbecue is typically served “dry” with a variety of sauces. There is a world-famous restaurant The Rendezvous Charcoal Ribs in Memphis that is especially known for its charcoal ribs. 

 

14. Each year, Memphis hosts the World Championship Barbecue Cooking Contest , which is listed in the Guinness Book of World Records as the largest pork barbecue contest in the world. The event attracts over 100,000 visitors every year and is recognized as being the “Most Prestigious Barbecue Contest,” according to USAToday. 

 

15. Johnny Cash went door-to-door in Memphis selling household appliances before he ever became successful as a musician.

 

16. By the early 20th century, Memphis had grown into the largest inland cotton market in the world. This ultimately led to the Front Street development, which is still a thriving area today.

 

17. Many notable and famous musicians in addition to Elvis grew up in Memphis; including B.B.King, Sam Moore and Dave Prater of Sam & Dave, Otis Redding, Muddy Waters and others. 

 

18. One of the largest urban parks in the entire United States is located in Memphis, called Shelby Farms. Shelby Farms is 4,500 acres, five times bigger than Central Park in New York City. 

 

19. The International Port of Memphis is the 5th largest inland port in the U.S.. Industries made possible because of this port generate over $9 billion annually.

 

20. The world’s largest private bomb shelter was built in Memphis in the 1960s by wealthy businessman Hoyt B. Wooten. Located beneath the Whitehaven estate, the bomb shelter is now empty but not forgotten.

 

21. Memphis holds the world record for being the city that inspired  the largest number of songs and titles that have been recorded and produced.

 

22, Every day at the Peabody Hotel in downtown Memphis, a parade of pampered ducks waddles across a red carpet into the Italian marble fountain for a delightful dip lasting six hours. This flock of feathered lovelies reside in a $200,000 duck penthouse inside The Peabody.

 

23. Two live goats currently reside at the famous Irish Pub in Memphis called Silky O’Sullivan’s. (It is not known what their favorite drink is.)

 

24. Memphis has one of the largest artesian well systems in the world. The aquifer contains more than 100 trillion gallons of water that fell to the earth as long as 2,000 years ago. It first became available to the city in 1887.

 

25. Memphis is a popular location for filming. At least 30 popular movies were filmed wholly or partially in Memphis, including:

 

– Soul Men, starring Samuel L. Jackson and Bernie Mac

 

– The Client, starring Tommy Lee Jones and Susan Sarandon

 

– Nothing But the Truth, starring Matt Dillon and Kate Beckinsale

 

– The Rainmaker, starring Matt Damon and Danny Devito

 

– Cast Away, starring Tom Hanks (filming at the FedEx international hub)

 

– Elizabethtown, starring Orlando Bloom and Kirsten Dunst

 

– Walk the Line, starring Joaquin Phoenix and Reese Witherspoon

 

– Finding Graceland, starring Harvey Keitel and Bridget Fonda

 

Over the years since its establishment in 1819, Memphis has inspired, grown, transformed and nurtured. It remains one of the most culturally vital cities in the U.S. to this day. You may never visit Memphis–when you own a turnkey rental you don’t have to babysit your property–but it sure is nice knowing that your investment property is in such an exciting and fascinating city that it attracts over 10 million visitors every year. MartelTurnkey is invested in Memphis and we continue to be excited about the many opportunities there.