Today we’d like to introduce you to LaTonya Randle.
Hi LaTonya, so excited to have you with us today. What can you tell us about your story?
The year 2008 became a defining moment for our family’s future, though it began out of necessity rather than choice. My job at FedEx became unstable as my manager drastically cut my hours, directly challenging my ability to manage the necessary school runs for my son. To fill the financial gap, I hustled, working as a secret shopper and channeling my creativity into crafting and selling hats and scarves. It was during this period of uncertainty that a property near my childhood home went up for sale. Though it was in rough shape, my father L.T. Randle saw the potential and encouraged me: “Let’s do it.” We partnered up, split the costs to get the house tenant-ready, and successfully rented it out, securing my first foothold in real estate investment.
My investment commitment deepened a year later when further job challenges prompted a move to Nashville. I moved in with my friend Terry Ellis to save money. While planning the transition, a major storm hit the area, disrupting the area I planned on relocating to. I ended up renting out my first home. In 2010 rented it to a friend while saving diligently for my next move. The true fire for entrepreneurship was ignited when Terry showed genuine enthusiasm for the investment business; he absolutely loved the process, and together, we realized we had a shared vision. We married in 2014, and what started as simply collecting rent evolved into a full-fledged enterprise. That year, we stopped viewing our activity as a side hustle and formally founded our real estate investment business, Ellis Estates LLC, transforming our passion into a professional foundation for lasting wealth.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
After successfully acquiring and stabilizing those first few properties, anyone might assume I had the whole real estate process figured out—but that couldn’t be further from the truth. The reality of being a landlord quickly brought me back down to earth. Dealing with nightmare scenarios, from midnight calls about property issues to the draining legal process of tenant evictions and the constant struggle of non-payment, taught me that my initial screening process was deeply flawed. These harsh lessons forced a complete overhaul of how we operated. We tightened our criteria, sharpened our focus on tenant selection, and, most importantly, made the strategic pivot to working with the reliable framework of the Memphis Housing Authority (MHA) Section 8 program.
By the time our portfolio reached eight homes, the volume of legal knowledge I had absorbed and the stability we found through Section 8 positioned us for the next major leap. It was then that fellow investors stepped in and corrected a major financial blind spot: continually reinvesting collected rents and purchasing properties solely with saved cash was inefficient and slowed our scale. Realizing that money sitting in the bank wasn’t working hard enough, we made the critical decision in 2020 to adopt the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method. This shift meant leveraging the equity in our existing properties to recycle capital, allowing Ellis Estates LLC to aggressively pursue new deals and truly accelerate our growth trajectory.
Thanks – so what else should our readers know about Ellis Estates ?
What sets Ellis Estates apart is that we measure our success by how many tenants we help leave us to become homeowners. While we value our
renters, our company goal is to assist at least one family in purchasing their first home every year; achieving that single transition means we are fulfilling our mission. We actively encourage this stepping stone by offering concrete support, including paying tenants for their time to attend essential
first-time homebuyer classes. We don’t just want to provide a place to live todav; we want to help provide
What matters most to you? Why?
I have a deep connection to Memphis and the reality of growing up in affordable housing like Lemoyne Gardens. We know that many people are not content with their current situation and are seeking a path forward..
Consequently, what matters most to our business is an empowerment philosophy of giving a “hand up, not just a hand out.” We prioritize providing concrete assistance to those who actively desire it, coupling housing opportunities with necessary education on household maintenance to ensure our tenants have the tools for lasting stability.
Contact Info:
- Website: https://Ellisestateshomes.com
- Facebook: Ellis Estates
- Youtube: @ellisestates8996
