Buyer's Agent in Memphis Area

[Angelo Wong]

Hi,

I'm currently looking for my 2nd deal in the Memphis area (first deal in Cordova); was wondering if there were any good recommendations for buyer's agents in either Memphis, Bartlett, or Cordova area?

Also: I've been told that the MFH market is not that lucrative in the Memphis area in general versus SFH. Anybody have any thoughts on that?

Thanks in advance,

Angelo

[Alex Craig]

MFH works fine in the right area, but expect to pay a premium. I just bought a 4 plex in Midtown Memphis for $175,000 that rents for $2,600.  Insurance is $2,200 a year and taxes are $4,500.  I need to put about $50,000 into the property, so I plan to be all in around $225,000 to $230,000.  I think I can get rents up to $3,000 a month.  Cash on cash is 12% without maintenance and vacancy. Not great #'s, but the area is certainly "A" class and vacancy should not be an issue ever.  Point is, MFH works in Memphis at lower returns.  If you are getting higher returns, then I would question the area.

@Douglas Skipworth is a buyers agent.