Looking to invest in Memphis, Tennessee. I live in Miami, Florida. Can anyone advise on that market? Looking for multi family.
I've looked into Memphis but I haven't invested there. I get a lot of deals from other syndicators looking for passive investors. I've heard it called an equity trap by more experienced investors, but that may or may not be true.
If you're considering remotely investing, make sure you know the market like the back of your hand. Take due diligence trips there, spend time driving around and getting to know the area. Properties and neighborhoods can be made to look on pro formas & OMs much nicer than they actually are in reality.
Research the northeast and eastern suburbs. Bartlett, Cordova, Collierville. Outside of I-40/240
Thank you. I’m planning to visit in a week or so.
I really appreciate the input. I will do that. Thank you.