New and Eager

[Ethan Charles Eastwood]

New to real estate and new to Memphis area, Interested in specifically long term rentals. No idea where to start so came to BiggerPockets. 

[Jordan Ray]

Quote from @Ethan Charles Eastwood:

New to real estate and new to Memphis area, Interested in specifically long term rentals. No idea where to start so came to BiggerPockets. 

Welcome to Memphis and to real estate investing!

If you’re focused on long-term rentals, Memphis is one of the best markets to get started. A lot of local investors follow the 1% rule — if a property costs $100K, you want to see at least $1,000/month in rent. That simple benchmark helps you quickly spot deals that cash flow.

One approach that works really well here is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) using 100% hard money for both the purchase and rehab. That way, you can acquire and renovate a property without tying up all your own funds. Once it’s fixed up and rented, you refinance into a long-term loan and move on to the next project.

I work with investors doing exactly this in Memphis every day and also am doing this myself to scale my own personal portfolio. If you want to shortcut the learning curve and see what’s working right now in our market, feel free to reach out — I’m happy to walk you through the numbers, neighborhoods, and process. Talk to you soon!