Memphis Tips?? Looking to step into the Memphis market
Seattle-based investor here looking to cautiously dip my toes into Memphis. Memphis keeps coming up as an incredible place to invest, but caution is required as neighborhoods can change street by street.
I have found two or three friends in the Memphis area that can serve as a boots on the ground guide. I wouldn't even touch the city unless I found friends I can trust there, and since they're on board with helping me out, I figured it's time to explore.
So, what tips do you guys have to share with getting into Memphis? Any connections or great investment-focused realtors and property managers you can suggest? Is it multifamily friendly or is it a town that prefers its SFR's instead?
Thank you!
Most Popular Reply
Barry Je I’m an investor in Memphis (and Cleveland) but I prefer Memphis. Like youd be I am also out of state.
Generally speaking you want to avoid the frayser area and orange mound area. If you go the turnkey route stick to houses around 75k and up. Rent for 750 and up.
Apartments in Memphis can be tough as a lot of it is in lower quality areas. Residential multifamily can also be tough for the same reasons. Memphis taxes anything other than single family like commercial and your taxes are that much higher.
If you want someone’s view on investing out of state in Memphis feel free to PM me