Looking for MFR in Memphis area

4 Replies


We're starting our journey into Multi Family real estate in Memphis, TN. We currently own 5 SFR's (2 in the Memphis area....Bartlett actually). Jut wanted to put feelers out there if anyone is perhaps looking to sell or knows of any deals.

To help you decide if we fit your mold, we're looking for the following:
-- No low income.  We want to see a minimum of $750/monthly rent per unity (preferably close to $900-$1000).  I realize you can make money at any level but we're looking to stay where we're comfortable for right now.
-- Good condition.  We don't need pristine, but we're not looking to put tens of thousands into it up front after purchase for repairs, just normal maintenance.
-- ~75% rented.  We don't mind some vacancy since we'll just be turning it over to our management company, but we're not looking for much work here.

We are flexible so don't consider those absolute requirements, but if you have $350/monthly per unit and it's 50% rented, we're not going to be interested.  I hope that helps lays out what we're looking for.

If you know of any properties, send me over the address and the basic financials.  We're currently looking to purchase up to $300k (no preference on # of units so if it meets the requirements we'd be interested in any properties in the $100k - $300k range).

Mods, If this isn't the right forum, please feel free to delete and let me know where to post this.  If the location is ok, anyone who has any deals, please just message me.

multi family in Memphis is tricky.  I think you will have a hard Tim finding something based on your criteria.  You should contact Jeff Moore in Memphis who is probably the top multi family agent in Memphis. 

Just bumping up instead of reposting :)

I think that this should be in the Marketplace.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here