Remote Investor, Starting Out, Seeking Resources

Memphis, Tennessee
Starting Out
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Remote Investor, Starting Out, Seeking Resources

Matt C.
Member since 2022 路 13 posts 路 16 votes

Hey All -

I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
What are your favorite resources?

Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!

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James Hamling
Real Estate Broker 路 Minneapolis, MN 路 Member since 2011 路 5k+ posts 路 6k+ votes
2y

@Matt C. I can't stress enough what @Jonathan Greene said, you GOTTA get boots on the ground. 

The first step is analysis viability. Next is the boots on the ground tour, to see the good, the bad and the ugly. 

I recently spent a week in Cape Town. My #1 resource was the undisputable champion of market confirmations, just randomly talking to people. Taxi drivers, wow what a resource and I never hear people talk about taxi drivers. (I include uber as taxi driver because they really are). 

When I travel for a boots-on-tour I NEVER rent a vehicle for this exact reason, I get a taxi(uber) everywhere and I simply talk to them, what good, whats bad, where should I go, where should I stay away from, whats happening, are things getting better, worse, what do you love about area, what do you hate. Nothing can replace that ocean of front-line data. 

In Cape Town I left with a completely different data-set then what I entered with. I found markets of opportunity I didn't even know existed before-hand. 

Nothing can replace market confirmation from a 1st hand perspective. 

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  • Travis Biziorek
    Investor 路 Arroyo Grande, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    2y

    Matt, definitely add Detroit to your list of markets to check out. I invest there from California and will be closing on doors #13 and #14 next month (duplex).

    The city is going through a major revitalization effort and lots of investment. And the Census Bureau just came out with official figures the other week showing Detroit's population is now growing for the first time in 60+ years.

    It's early innings yet for Detroit. Prices are still cheap, you can still get cash flow, and I've seen a ton of appreciation in my own portfolio. 

    I don't see any reason these trends won't continue. 

    0Reply
  • Drew SygitBusiness Member
    Property Manager 路 Royal Oak, MI 路 Member since 2012 路 12k+ posts 路 9k+ votes
    2y

    @Matt C. Not only is Detroit officially growing for the first time in 60 years, but it's been growing for closer to 5 years! Detroit has suffered due to the archaic way the US Census Bureau addresses teardowns. City is currently suing the Bureau over this.

    We've got data on Class A vs Class B vs Class C vs Class D cities and neighborhoods in the Detroit area.

    So, PM us if we can help:)

    [email protected]248-209-6824
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  • Kelli Napoleon
    Member since 2024 路 33 posts 路 15 votes
    2y

    Hi Matt,

    Have you looked into the Greater Nashville area or Middle TN in general? There are many different pockets and neighborhoods that investors are finding success in. 

    1Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant 路 Madison, NJ 路 Member since 2016 路 6k+ posts 路 7k+ votes
    2y

    It sounds like you are pulling cities off of lists, but have you been to any of the cities you are interested in investing in? Do you know anyone in those cities or do you have to build a team to trust from scratch? Too many investors are looking for a market and ignoring where they may have a competitive advantage. Where else have you lived, where else do you know, where do your closest friends and families live? Are any of these, or other areas you have thought of, areas close to those places or those people? That's a better place to start instead of putting all of your eggs into a stranger's basket.

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  • James Hamling
    Real Estate Broker 路 Minneapolis, MN 路 Member since 2011 路 5k+ posts 路 6k+ votes
    2y

    @Matt C. I can't stress enough what @Jonathan Greene said, you GOTTA get boots on the ground. 

    The first step is analysis viability. Next is the boots on the ground tour, to see the good, the bad and the ugly. 

    I recently spent a week in Cape Town. My #1 resource was the undisputable champion of market confirmations, just randomly talking to people. Taxi drivers, wow what a resource and I never hear people talk about taxi drivers. (I include uber as taxi driver because they really are). 

    When I travel for a boots-on-tour I NEVER rent a vehicle for this exact reason, I get a taxi(uber) everywhere and I simply talk to them, what good, whats bad, where should I go, where should I stay away from, whats happening, are things getting better, worse, what do you love about area, what do you hate. Nothing can replace that ocean of front-line data. 

    In Cape Town I left with a completely different data-set then what I entered with. I found markets of opportunity I didn't even know existed before-hand. 

    Nothing can replace market confirmation from a 1st hand perspective. 

    3Reply
  • Matt C.
    OP
    Member since 2022 路 13 posts 路 16 votes
    2y
    Quote from @Jonathan Greene:

    It sounds like you are pulling cities off of lists, but have you been to any of the cities you are interested in investing in? Do you know anyone in those cities or do you have to build a team to trust from scratch? Too many investors are looking for a market and ignoring where they may have a competitive advantage. Where else have you lived, where else do you know, where do your closest friends and families live? Are any of these, or other areas you have thought of, areas close to those places or those people? That's a better place to start instead of putting all of your eggs into a stranger's basket.


     Nah, no lists for those markets. These are markets with somewhat to very affordable cash flow options that I have visted and loved and could see myself living for a temporary amount of time for a rehab/primary res, but don't have the minute data and information I am looking for. I've lived in not-so-great cashflow markets. Cali, NY, Hawaii. Been speaking to realtors but just looking for solid online resources I can also utilize. 

    0Reply
  • Samuel DioufBusiness Member
    Real Estate Agent 路 Columbus & Cleveland, OH 路 Member since 2023 路 1k+ posts 路 1k+ votes
    2y

    Columbus, Ohio is a great market to consider if you're leaning towards appreciation. Multiple, billion dollar companies are investing heavy in our area, such as Intel, Google, and Amazon. Which will bring plenty of other investors and general business to the area. I moved here from Florida after seeing the projected growth.

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  • Nicholas L.Pro Member
    Flipper/Rehabber 路 Pittsburgh 路 Member since 2018 路 6k+ posts 路 5k+ votes
    2y

    @Matt C.

    just to be direct, cash flow has really been compressed everywhere. unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.

    you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.

    if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it.  it's just a really tough time to Internet your way to success.

    @Jonathan Greene

    you need to link to your other post about how to pick a market.  or put that in your signature block =)

    3Reply
  • Jordan RayBusiness Member
    Real Estate Agent 路 Memphis, TN 路 Member since 2023 路 627 posts 路 322 votes
    2y
    Quote from @Robert Bell:

    I am a Loan Officer for Avalon Capital. We specialize in short term, fix and flip loans in and around Memphis.


    Avalon capital is where its at! I use Avalon for my own investments and there is not a better product out there in ANY market that can beat Avalon Capital! Hands down the best there is for hard money!

    [email protected]662-642-1458
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  • Matt C.
    OP
    Member since 2022 路 13 posts 路 16 votes
    2y
    Quote from @Nicholas L.:

    @Matt C.

    just to be direct, cash flow has really been compressed everywhere. unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.

    you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.

    if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it.  it's just a really tough time to Internet your way to success.

    @Jonathan Greene

    you need to link to your other post about how to pick a market.  or put that in your signature block =)


     Totally get that. We aren't making moves solely because something looks good on paper. In Memphis, we are looking in very, very specific areas. Same as in Detroit. 

    KC is looking halfway decent for a househack but seems to be getting some fairly consistent numbers without it. These last two weeks have been non-stop calls with PMs in all of these markets, but right now, leaning in on KC a bit more because we love that city. 

    2Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber 路 Pittsburgh 路 Member since 2018 路 6k+ posts 路 5k+ votes
    2y

    @Matt C.

    that's great to hear.  and I did see in another post that you might consider moving in order to house hack.  that would be an extremely powerful way to get started in a new market. 

    0Reply
  • Caleb Hall
    Realtor 路 Member since 2022 路 3 posts 路 4 votes
    2y
    Quote from @Matt C.:

    Hey All -

    I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

    I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
    What are your favorite resources?

    Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!


     I am a Realtor in Memphis, TN that works with savvy investors. I'd love to connect!

    1Reply
  • Linda LabbePro Member
    Investor 路 North Bay, Ontario 路 Member since 2015 路 709 posts 路 262 votes
    2y

    HI we do everything remotely and invest in the Detroit Toledo areas where we have great teams on the ground. More the willing to share what we do and what we have learnt with anyone who wants to chat, Would recommend theses area to anyone looking for great returns just be careful success is all about having the right teams to work with,

    0Reply
  • Account Closed
    Rental Property Investor 路 Brooke Park Drive 路 Member since 2018 路 1k+ posts 路 2k+ votes
    2y

    You don鈥檛 need to physically visit neighborhoods 馃槀 . Everything you need is in Google maps, crime maps, talking to locals online, etc. Then getting an inspection before buying. 

    0Reply
  • Lee RipmaPro Member
    Rental Property Investor 路 Prairie Village, KS 路 Member since 2015 路 2k+ posts 路 2k+ votes
    2y
    Quote from @Matt C.:
    Quote from @Nicholas L.:

    @Matt C.

    just to be direct, cash flow has really been compressed everywhere. unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.

    you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.

    if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it.  it's just a really tough time to Internet your way to success.

    @Jonathan Greene

    you need to link to your other post about how to pick a market.  or put that in your signature block =)


     Totally get that. We aren't making moves solely because something looks good on paper. In Memphis, we are looking in very, very specific areas. Same as in Detroit. 

    KC is looking halfway decent for a househack but seems to be getting some fairly consistent numbers without it. These last two weeks have been non-stop calls with PMs in all of these markets, but right now, leaning in on KC a bit more because we love that city. 

    @Matt C.
    solve this problem with vestmap, location data for any location in the US. 

    I was an out of state investor in KC for years before covid. Once covid hit KC looked so much more livable and I made the move. 373 is my BP podcast episode before the move!

    Podcast Guest on Show #373
    0Reply
  • Jamie Parker
    Real Estate Investor 路 Memphis, TN 路 Member since 2016 路 404 posts 路 131 votes
    2y
    Quote from @Caleb Hall:
    Quote from @Matt C.:

    Hey All -

    I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

    I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
    What are your favorite resources?

    Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!


     I am a Realtor in Memphis, TN that works with savvy investors. I'd love to connect!


    Would like to connect @CalebHall @JordanRay

    1Reply
  • Matt C.
    OP
    Member since 2022 路 13 posts 路 16 votes
    2y

    @Lee Ripma - What are your thoughts on the new housing ordinances in KC?

    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent 路 Columbus, OH 路 Member since 2019 路 3k+ posts 路 2k+ votes
    2y
    Quote from @Matt C.:

    Hey All -

    I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

    I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
    What are your favorite resources?

    Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!


    Hey Matt, check websites like NeighborhoodScout and GreatSchools for neighborhood analysis. Also, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!

    [email protected]614-300-7535
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  • Jordan RayBusiness Member
    Real Estate Agent 路 Memphis, TN 路 Member since 2023 路 627 posts 路 322 votes
    2y
    Quote from @Jamie Parker:
    Quote from @Caleb Hall:
    Quote from @Matt C.:

    Hey All -

    I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

    I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
    What are your favorite resources?

    Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!


     I am a Realtor in Memphis, TN that works with savvy investors. I'd love to connect!


    Would like to connect @CalebHall @JordanRay


    Hey! That's sounds good! I will DM you.

    [email protected]662-642-1458
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  • Lee RipmaPro Member
    Rental Property Investor 路 Prairie Village, KS 路 Member since 2015 路 2k+ posts 路 2k+ votes
    2y
    Quote from @Matt C.:

    @Lee Ripma - What are your thoughts on the new housing ordinances in KC?

    I moved to KC from LA so I鈥檓 used to tenant鈥檚 rights including rent control. The new ordinance only applies in the city of Kansas City, Missouri (KCMO). There at lots of great suburban markets where the ordinance doesn鈥檛 apply such as  Independence, Raytown, Blue Springs, and Overland Park. Even though an investor could easily avoid KCMO the tenant鈥檚 rights are not onerous at all and I don鈥檛 think they should dissuade anyone from investing in KCMO! Kansas and Missouri are still incredibly landlord friendly. 
    Podcast Guest on Show #373
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  • Pam Brown
    Real Estate Agent 路 Indianapolis IN 路 Member since 2022 路 144 posts 路 65 votes
    2y

    I have a full, experienced team in Indianapolis.  Send me a DM if you would like to connect.

    0Reply
  • Kerry Noble JrPro Member
    Investor 路 Indianapolis, IN 路 Member since 2018 路 2k+ posts 路 1k+ votes
    2y

    I can be a resource here in Central IN

    0Reply
  • Engelo RumoraBusiness Member
    Investor 路 Toledo, OH 路 Member since 2013 路 4k+ posts 路 2k+ votes
    2y
    Quote from @Matt C.:

    Hey All -

    I am widdling down some areas I'd like to remote invest in. I have one house-hacking property in SLC, but homes here have gotten a bit too high to see any cash-flow. Looking for some less expensive areas that may not see a ton of equity growth, but should get a few hundred plus in cash flow each month. I have been hesitating on pulling the trigger for about a year now and I am getting frsutrated. Gotta make the jump. 

    I am mainly seeking everybody's favorite resources for neighborhood analysis. I have a few that I utilize alongside Google Map Street View when I am really digging in, but I find I have to bounce around for resource to resource to get the full picture. Oftentimes, the data is at least a couple years old. 
    What are your favorite resources?

    Would also be interested in any suggestions for markets/neighborhoods that would be a good fit. On the higher end of what I am currently looking at, I have Twin Cities and Indianapolis. On the lower end, I have west of Detroit and some areas in Memphis, with preference currently in the Memphis area. If you have Realtor or PM teams in these areas, please let me know!



    G'Day Matt,

    You can only do so much with online research.

    IMO the online stats and demographics often times don't paint the correct picture.

    This especially tends to be the case for tertiary markets.

    Finding folks on the ground that "live and breath" the market is your key to success.

    Those folks on the ground are the one's that bring the "online stats and demographics" to life per se.

    They will know more accurately what's going on in their local market pretty much on a daily basis.

    I've always said that you can research online and find a market that has the best growth and cashflow potential.

    Find a property for a great price and on a great street and in a great area.

    But if your property manager or contractor are incompetent or cheats.

    You will loose money.

    So start with finding the right people first before finding the right market or deal.

    Just my opinion.

    Thanks 
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