I will be relocating to Memphis, TN soon. Was wondering if this is a good city to buy rental properties. Looks like there are many other cities within driving distance from Memphis (Little Rock, AR, Birmingham, AL, Nashville, TN, Louisville, KY, Jackson, MI, etc). Are any of these surrounding areas better suited for rental properties?
My goal is to buy and hold properties for the long term.
Memphis, TN · Member since 2022 · 230 posts · 99 votes
3y
Memphis is one of the top markets in the country to invest in! It provides cashflow and appreciation. There are a ton of posts and forums on BP about the Memphis Market, but I would be happy to discuss it with you as well!
Investor · Memphis, TN · Member since 2022 · 12 posts · 5 votes
2y
Memphis is a great place to invest in rental properties! With a high percentage of renters, you can expect to find tenants quickly and start earning cash flow right away. However, it's important to do your research on the neighborhood before you buy. Some areas of North and South Memphis, as well as scattered spots throughout the city, have lower rents than others.