TABLE OF CONTENTS Table of Contents EXECUTIVE STAFF... 3 President, Co-Founder... 3 Chief Operations Officer, Co-Founder... 3 Acquisitions and Sales... 3 General Property Manager... 3 Chief Financial Officer... 4 Executive Assistant... 4 Director of Client Services and Marketing... 5 Bookkeeper... 4 Leasing Manager/Section 8 Coordinator... 5 Client Liaison... 5 SERVICES OFFERED... 6 PROPERTY MANAGEMENT... 6 Tenant Screening... 6 Lease Management... 7 Rent Collection... 7 Accounting... 7 Insuring Your Success... 8 REHAB & RENOVATION... 9 Scope & Rehab Process... 9 The Basic Work... 9 Maintenance Staff... 9 ACQUISITION... 11 CONTACT US... 12 Page 1 of 13
ABOUT US Reedy and Company Realtors, LLC was founded in 2002 by Jim Reedy and his wife, Debi. Jim studied real estate at the University of Memphis in the 1970s, and became a Realtor while still in college. As he gained experience in the Memphis real estate business, he recognized the need for quality rental properties. Debi studied advertising at the University of Memphis where she earned a Bachelor s degree in Business Administration. Reedy and Company has grown from being a small local realtor group that started managing homes in 2009, to a full service property management company that accumulated over 1,850 homes by the end of 2015. We manage homes owned by local and foreign investors, and offer more services to investors than most; everything from private financing, property management, and sales. We offer: Large inventory of greater Memphis area and northern Mississippi rental homes at competitive rents In-housem highly-trained,leasing consultants Quality property management of all rental homes In-house accounting Dedicated collections team Maintenance division of insured professionals with on-site warehouse Personal service tenant and owner liaison to ensure dependable communication Acquisitions team The Reedy s pride themselves in managing and owning rental properties in safe neighborhoods that are close to schools, parks, and shopping centers. If you are looking to purchase properties or need someone to manage your existing properties, The Reedys have years of knowledge and experience to begin or expand your future in Memphis realestate. Page 2 of 13
EXECUTIVE STAFF Jim Reedy President, Co-Founder Jim studied real-estate at the University of Memphis on a football scholarship in the 1970s, and became a Realtor while still in college. As he gained experience in the Memphis real-estate business, he recognized the need for quality rental properties and, along with his wife, Debi, formed Reedy and Company in 2002. Jim has become an expert in selecting the best properties in safe neighborhoods that are sold to U.S. and foreign owners. He is committed to offering the highest quality rental properties. Debi Reedy Chief Operations Officer, Co-Founder Debi studied advertising at the University of Memphis where she earned a Bachelor s degree in Business Administration. She co-founded Reedy & Company with her husband, Jim and is the Principal Real Estate Broker for the company. She works closely with all members of the Reedy team to ensure that all tenant accounts are properly maintained. Brad Reedy Acquisitions and Sales Brad attended The University of Tennessee, Knoxville on an academic scholarship and received degrees in Finance and Economics. He has worked doing various jobs with the family business since he was 10 years old. Brad works in all aspects of the business, and specializes in sales and acquisitions. He assists all local and foreign investors, and helps the company with its dayto-day operations. Scott L. King General Property Manager Scott has been in Property Management since 2008 and has a vast knowledge of the Memphis Rental Market. He has worked as a Project Manager overseeing renovations of foreclosed properties and a Leasing Agent, sole leasing over 650 homes in the Memphis area. His overall background in leasing, maintenance, and property management makes him a welcomed addition to the Reedy and Company family. Page 3 of 13
Tracy Johnson Chief Financial Officer Tracy joined Reedy and Company 2005. Originally from Jackson, Tennessee, Tracy came to to Memphis to attend the University of Memphis, where she earned a Bachelor's degree in Communication. Tracy is in charge of all accounting operations and deals with U.S. and foreign Accountants. Danielle Holland Executive Assistant Danielle joined Reedy and Company in the spring of 2013. She quickly and successfully became assistant to Jim, Brad and Jay Reedy, and helps maintain the day-to-day responsibilities around the office as well as assisting in the sales and acquisition process. Danielle is also a licensed Affiliate Broker in Tennessee and is in charge of coordinating all closings. Tiffany Emery Director of Client Services and Marketing Tiffany has been involved in real estate since 1996 and has vast knowledge thanks to a transient lifestyle as a military spouse. In her 21 years of experience, she has gained insight into property management of multi-units and single family residences, new home sales and construction, resale and rehab, along with contracts and of course, client services. Communication with owners is Tiffany s primary role at Reed and Company, along with property marketing and contract origination and management. Cory Moore Bookkeeper Cory joined Reedy and Company in October of 2010. Cory earned his MSBA in Management Information Systems and his BA in Journalism, both from the University of Memphis. He prepares weekly payroll and ensures all accounts payable records are current and accurate. Page 4 of 13
Christina Jones Leasing Manager/ Section 8 Housing Specialist Christina is originally from Denver, Colorado where she graduated from Denver Business College. She worked in a variety of businesses in accounting and customer service roles until she moved to Memphis nearly a decade ago. Christina has been employed with Reedy since 2007 and previously working with investors. She has been working in property management for 10 years and is highly skilled in Section 8, tenancy law and all associated paperwork and systems relating to the industry. Dannah Huber Client Liaison Dannah joined Reedy and Company in December of 2014 as a Leasing Consultant and was promoted to a member of the Maintenance Department. Today, Dannah offers great expertise and service to all owners as a member of the Client Services Team. Prior to joining Reedy and Company, she worked in the retail industry for 8 years which provided her with an extensive background in customer service. She is responsible oral and written correspondence with owners for all purposes. She acts as the first point of contact, so that our owners don t have to struggle in reaching the suitable department. Instead; Dannah will seek the information to address any questions To see our complete staff of real estate professionals visit our website www.reedyandcompany.net Page 5 of 13
SERVICES OFFERED PROPERTY MANAGEMENT Our property management company uses a set of reputable and effective systems and resources in order to ensure accountability throughout the property management process. From tenant screening and placement, to timely rent collection, our management team is here for YOU. Placing and retaining qualified tenants is the most integral part of our property management process, as well as the core mission of our property management staff. As a full-service property management company, you can expect the following: Tenant Screening All of our tenant applicants are subjected to a rigorous screening process, including credit analysis, verification of employment and income, a background check/criminal check, and a detailed landlord history. Tenants are expected to disclose all personal information immediately upon applying, and approval is at the discretion of our experienced property management staff. Tenants who have a questionable rental history or who have undergone recent bankruptcy or eviction, are immediately removed from the applicant pool. If there are any questions as to a person's ability to pay, they do not qualify to rent from us. Once the tenant is approved, they are required to will pay their deposit. The tenant will then sign our move-in agreement, which covers their move in date and how much they still owe. Page 6 of 13
Lease Management Approved tenants sign their lease at our office, where we thoroughly explain all of our policies and procedures. Our comprehensive lease allows us to remain in control should nonpayment or default occur. Our lease includes a waiver of the 60-day notice clause that is standard procedure in the State of Tennessee, so if a tenant defaults they can be evicted immediately. We explain our detailed procedures regarding maintenance issues and service requests, so all issues that arise with an investment home can be dealt with immediately. This ensures a higher level of tenant satisfaction, it preserves the structural integrity of your home, and it minimizes the work needed between tenant transitions, increasing your annual return. Rent Collection All tenants are made aware of their rental due dates, and we demand strict adherence to payment due dates. Our approach to rent collection allows us to remain in control of all tenant related issues regarding nonpayment of rent and enforcement of the lease. If rent is not collected by the 5 th business day, our staff is in direct contact with the tenant, assessing the situation and determining if longer term payment arrangements are necessary or what date the tenant will clear the balance is. Immediate response to any late payment allows us to remain in control and establish firm collection guidelines up to and including eviction when necessary. Accounting We track your income and expenses for each property to ensure your accounting is simplified, allowing you to focus on your investments. By using the highly rated property management software; Propertyware, your accounting is enhanced and your end of the year tax filing is much easier. The software streamlines the entire accounts payable process, which includes all vendor invoices, bill payments, and notes. All necessary information is made readily available through Propertyware s efficient filing structure and search capability. Owner statements are published to the owner portal to provide answers to questions without the need for a phone call saving you time and trouble. A detailed summary of income, expenses incurred by us on your behalf (maintenance, etc.), and vacancy/occupancy rates are mailed at the end of every fiscal year; they are also available throughout the year at your request. Page 7 of 13
Ensuring Your Success Advertisement: We market your property on several social media outlets, real estate websites, the Reedy and Company website, numerous other online power sites prospects use such as Zillow, Trulia, Craig s List, etc., place rental signs in the yard, and post ads in notable city publications. Security Deposit: The money is returned to the tenant if the home is left in good condition, but if the home needs repairs, the money will be used to make the necessary restorations to ensure that it will be in rent ready condition. Maintenance: We maintain a staff of 30 maintenance workers, so we are able to quickly and efficiently resolve any maintenance issues that you may have at your rental property. When you choose Reedy and Company, you not only have a team of property managers working for you, but property managers who will ensure that you receive the attention that you deserve as an owner. Rently Keyboxes on Our Properties Provide Showing Accessibility Property Security Direct Market Feedback At Low Cost Trends: price, condition, location, amenities, size etc. Page 8 of 13
REHAB & RENOVATION Scope & Rehab Process Once we begin managing a property, or when it becomes vacant, a maintenance supervisor will walk the home within 48 hours to evaluate the condition of the home. Once that evaluation is done it is sent back to our maintenance team to create a scope of work or bid for you to review and approve. Once the work is approved our in-house crews will begin the repairs as soon as possible. Typical turns on vacant homes take 2-3 weeks, and photos will be provided upon completion. The Basic Work Interior paint New blinds Trash removal Lawn cleanup (mow, trim, mulch, etc.) Re-key Maintenance Staff Our in-house maintenance staff is fully equipped to handle all maintenance related issues with a home. It starts with our first line of defense which is our in-office maintenance staff that helps navigate maintenance calls from tenants and the scheduling of our field technicians. They also help with all of the scope related work, occupied home inspections, and insurance work. With a fully integrated maintenance team, Reedy and Company is the perfect company to help you with your maintenance work and rehabs, simplifying the process by keeping it all under one wellmanaged campus. Page 9 of 13
We have field supervisors that handle on site issues and coordinate work crews. The maintenance crews are fully staffed with licensed, bonded, and insured workers which include: HVAC Specialists Master Electricians Master Plumbers Floor and Roof Experts Expert Carpenters Skilled Painters and Dry Wall Professionals Complete Lawn Crews Due to the number of homes and high volume of work, we can offer discounted rates that no one else can. We stock our 5,000 square foot warehouse with all of the materials needed (bought at whole sale pricing) which allows us quick turnaround to complete work and lower costs. Page 10 of 13
ACQUISITION Jim and Brad Reedy, work to purchase investment properties in Memphis and the surrounding areas, and now also in North Mississippi. They source all of the properties for Reedy and Company Realtors, LLC, and have purchased over 3,000 properties since 2010. Before determining whether or not to acquire the property, the following due diligence are performed: Determine renovation cost Determine market rent Run a discount to peak metric Compare purchase renovation budget with the actual renovation budget Reedy and Company sources properties through many different channels including the MLS, note packages, private owners, bank REOs, auctions and large privately held portfolios. Normally, it would take decades in the real estate business to buy the number of properties that the Reedy family has, but they have accomplished this in only a few short years. This accomplishment was achieved from the experience and expertise that Jim and Brad Reedy have. Page 11 of 13
CONTACT US Visit our website: www.reedyandcompany.net where you can see a list of our properties and even more general information. For additional information, sample documents, or to request a tour of our campus, contact our Property Manager, Scott King at: sking@reedyandcompany.net or call his direct line at 901-271-6729. We realize not all owners are local., We will still be happy to make arrangements with you. Scott, or one of our inspectors, will view the property and let you know what they think needs to be done in order to get the home in rent ready condition. Once we have viewed the home, we will incorporate our knowledge of the current market, along with your input, and decide on the most operative monthly rent. We will then market your property on our website as well as several other real-estate sites, add it to our vacancy list that will be given to prospect tenants, and place Reedy and Company rental signs in front of the property. We are confident that our experience, commitment to excellence, and outstanding service will provide benefit to your portfolio. The health of your portfolio is our top priority. Page 12 of 13
USPS * Reedy and Company RE: Investor Information 4701 Summer Avenue Memphis TN, 38122 ONLINE : www.reedyandcompany.net E-MAIL 7 sking@reedyandcompany.net PHONE ( (901)-842-0805 FAX 2 (901)-842-0803 FOLLOW US! Facebook Twitter LinkedIn February 2018 Page 13 of 13