Looking for some help in the Memphis TN Area

7 Replies

Hey guys, 

I was looking at a few SFR properties in the zip codes of 38108, 38105, and 38111. They are all rented for about $700 and are being offered at about $25k each with deferred maintenance/minor rehab. Does anyone know if these are good areas or of this is normal for the area? Any help would be greatly appreciated!

Thanks in advance!
-David

@David Dye

If I were you I would make trip out to visit those houses and the areas in person... they are typically not the greatest of zip codes definitely C or D properties but it depends on the street and PM if you will succeed in these tougher areas.

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Thanks for the help guys! @Stephen Akindona @Alex Craig @Douglas Skipworth @Derrick Craig

The too good to be true part is what gets me every time.  I'm generally a strong advocate of staying in state but I want to get my feet wet in something out of state. Being from CA, all out of state cash flows seem too good to be true for me (compared to my current rentals) Haha. I plan on flying out to see properties before buying anything. Any suggestions as to what to look for? I assume there are things I should be on the eye out for that may not be something I would look for here in CA. 

What are some issues you thing I may run into with properties in a rougher area like the ones I mentioned? All tenants are section 8 and they are all currently occupied. 

-David

Hi David!  38105-Uptown, Harbor Town, and Down Town (very good areas); 38108-Berclair/Memphis Zoo area (decent areas); and 38111-Orange Mound area, unless there is serious development going on right now, not the best area. Heads up!

Josette