I'm reading about Blighted properties and that it is a persistent problem for many Memphis neighborhoods. Are their any specific neighborhoods/ or Zip-cods/ Streets that have the most vacant or derelict properties?
It is also good to read that the local investor community is trying to improve this issue.
Feedback will be much appreciated,
It's all done with mapping websites. Look at crime statistics, average property values, foreclosures, and unpaid taxes by zip code. Have fun in your research and the picture will come together. Good luck.
It's easier to ask about the good zips than the bad ones.
Orange Mound is awful
Most of the areas close to downtown are terrible
South West is bad
North West is bad
You need to know your streets as many of the above areas also have some great streets in them but generally East Memphis, North East and South East Memphis are the safest. The more East you go the better generally.
I suggest you to come visit the city and you will be able to see for yourself which zip codes are good and which ones are bad with your own eyes don't take anyone's word for it... Because what I may think is good you may think is bad and what some may think is great I may think it is awful!!
@Hadar Orkibi I believe you will have a MUCH more profitable investing experience if you know the market and have a network on local folks to communicate with. I recommend you have an onsite visit to the city and spend some serious time meeting local investors and learning the areas they invest in. Connect with the local investors group (Memphis Investors Group) to begin.
Sounds like a plan Joseph. Thanks
@Hadar Orkibi . If you are specifically searching for blighted properties in Memphis. Then I would recommend contacting the Memphis Law School for a connection. For the past few years the school has been operating a Blight Clinic that is seeking to revitalize these types of properties, and I can definitely see, but obviously can't promise, them being interested in an investor who would eventually take control of the reclaimed properties.
When I did my first year there, the Clinic was called the Neighborhood Preservation Clinic, http://www.memphis.edu/law/programs/neighborhood-p..., and it was run by Daniel Schaffzin. The program has had some major successes and has even been supported by the City Major.
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