What can you tell me about Memphis?

[Nat C.]

I’m hoping to hear from people who live in Memphis or have investment properties there.

I've been looking at properties for sale on the MLS and I'm shocked by the low prices.

Eg. A remodelled in downtown for under 100k.

Yes, I’m sure this is a high crime area.

I’ve never heard anything bad about Memphis, like the things people say about Detroit.

Is Memphis a good investment city? The entry prices are low and cap rate is the highest I’ve seen in 2019.

[Jack Inman]

@Nat C. Memphis is a great city with quite a bit of big developments going on. The biggest development that I know of is the revitalization of the Pinch district; supposedly it will be in the range of hundreds of Millions of dollars spread out across a handful of projects. We are definitely in an upward trajectory as a whole.

In general the zip codes 38118, 38115, 38116, most of 38111, 38117, and most of 38128 are the zip codes that have the most investment activity. That will give you an idea of where to start looking for a rental. One key to investing successfully is to double check every figure that is given to you - comps, vacancy rates, cap-ex, repairs, insurance, etc.. If someone claims the home is worth 70k, make them send you all the nearby sales to confirm their claim. If someone says vacancy rates are practically non-existent, ask for proof. Also, if you find a deal, it's worth posting the details on Biggerpockets, and you'll probably get a lot of helpful feedback.