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Updated over 7 years ago on . Most recent reply

User Stats

60
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19
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Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
19
Votes |
60
Posts

Request for opinion on property in 38128 Raleigh in Memphis

Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
Posted

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?

Most Popular Reply

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741
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845
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Stephen Akindona
  • Investor
  • Memphis, TN
845
Votes |
741
Posts
Stephen Akindona
  • Investor
  • Memphis, TN
Replied

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!! 

  • Stephen Akindona
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