A letter to the Editor from Leco’s CEO Bert Less

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Hug An Invest- Bert Less, Memphis

David Waters’ June 2 column, “Seeking stability” omitted several important facts.

Lynda Whalen does her neighborhood a true service, but she makes several assumptions that are just not factual and perpetuate a mindset that all investors are uncaring “robber barons”. It’s so easy to blame faceless investors for all the ills in your area but there are many economic factors that cause the downfall of neighborhoods.

No one will sympathize with an investor, but I would suggest that real estate investors kept the Memphis market from complete depression especially immediately after the economic crash of 2008. A majority of the homes investors purchased needed painting, carpentry and roofing. The materials were purchased locally, and the renovations made to these properties created jobs and put vacant homes back on the tax rolls.

The main point we should take from Waters’ article is investors should inspect their purchases in person and should never try to manage the homes without local competent professional property management. With the advice of a management  company, no investor would have purchased the property in the article.

Bert Less.

 

To find the article that Mr.Less is responding to please follow the link below:

http://www.commercialappeal.com/news/columnists/david-waters/david-waters-neighborhood-leaders-battle-absentee-investors_64920581

Category : Blog &Latest News

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Founded in 1988 by Bert A. less, Leco Realty has a staff of seven full time employees and a full complement of crafts and maintenance vendors. Still a family owned operation, the company manages over 1,500 units in the Memphis metropolitan area. Read More

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