Request for opinion on property in 38128 Raleigh in Memphis

[Russell Pitts]

Hi, I'm looking to purchase a turnkey property on Olds Avenue in Memphis, behind the old Raleigh mall.  I'm looking to understand the good and bad of the area and whether or not it'd be a good long term investment. Anyone know what's going on with that Raleigh mall?

[Stephen Akindona]

Hey @Russell Pitts to be honest that price is on the high side, that is full retail value. I personally feel like investors should always have an equity position on the date of purchase, but you are buying turnkey so I get that getting that equity is hard to come by. As long as you hold for the long term you will be fine! If you go to sell in a few years because we do not see those crazy appreciation swings you might have a little trouble off loading, but Memphis is a buy and hold long term type of town!!