Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

14
Posts
3
Votes
Harith Naga
  • Los Altos, CA
3
Votes |
14
Posts

Memphis Multifamily Location

Harith Naga
  • Los Altos, CA
Posted

I am in contract on a multi family near St Jude. Its South of the 40 Interstate, and east of Danny Thomas Blvd. Its showing up as downtown in some areas and also showing up as winchester park on other maps. 

Just wanted to get feedback from locals about the neighborhood. Currently about half of the units are rented at around 300/month. At such a low rate, what kind of demographics do we get? Do we have people who can't pay on time? Am I going to be spending all my money evicting people? What kind of crime rate? Etc...Any thoughts/feedback would be appreciated!

Most Popular Reply

User Stats

5,028
Posts
2,573
Votes
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
2,573
Votes |
5,028
Posts
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
Replied

Without having the actual address I can only give you basic opinions. This area is mostly rough and for only $300 per month the type of tenants you will get will typically be super low income and possibly have trouble paying. 

My advice to you is that as long as you understand that there are more negatives then positives and this area is not that great, if you are willing to roll the dice then go for it but I could never sell anything like this to a client as I know statistically how this will go. 

There will be zero appreciation and if you try to resell it will be difficult at best. I would be willing to bet the person selling you the property is praying you are not getting opinions like mine. 

Good luck, dont say we didnt warn you !!

  • Curt Davis
business profile image
Curt Davis - KAIZEN Realty
5.0 stars
38 Reviews

Loading replies...