looking for Memphis information, good and bad areas etc

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looking for Memphis information, good and bad areas etc

Kevin Scott
Real Estate Agent · Hermosa Beach, CA · Member since 2011 · 19 posts · 0 votes

Hey there!

I'm out of the country, but an opportunity has come up that I'd like to explore some more. There is a Multi unit north of the Alta Vista area (North of Frayser blvd). I have no idea about any of the Good, bad nor ugly areas of the city. If anyone could help me with how I might find this information out, or boots on the ground, I would greatly appreciate it. I would love to learn the rental occupancy rates in the area, new businesses or leaving businesses etc. I will say that I have done some fix and flips in the past, but I am a complete newbie to buy and holds. Certainly VERY green to out of state investing. I know it can be done. Thank you for taking the time to read my post. Live long and prosper through real estate.

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Alex CraigBusiness Member
Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
9y

Mutli Unit's for sale in Frayser are most of the time out of state who thought they could do something that no one else has never done.  The reality is, within a couple of years, after multiple evictions, vandalism, vacancy, etc. they are beat up and sell at a massive loss.  I once had a individual I met on Bigger Pockets reach out to me about managing his multi-unit in South Memphis; basically he blamed his manager on all the vacancy. I looked at the chain of title on the property and he was the 8th person in 12 years to own the property.  For this Alta Vista property, see if you can see the chain of title.   

901-848-9028
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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    9y

    the area this is in is called Frayser and the zip code is 38127. If you want to have a great experience then this is not the area for you. You will lose long term as this  area is one of the worst areas of Memphis you could invest in.  There is no company in our market that is good at managing this area. 

    Hope you get the idea. 

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
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  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    9y

    Mutli Unit's for sale in Frayser are most of the time out of state who thought they could do something that no one else has never done.  The reality is, within a couple of years, after multiple evictions, vandalism, vacancy, etc. they are beat up and sell at a massive loss.  I once had a individual I met on Bigger Pockets reach out to me about managing his multi-unit in South Memphis; basically he blamed his manager on all the vacancy. I looked at the chain of title on the property and he was the 8th person in 12 years to own the property.  For this Alta Vista property, see if you can see the chain of title.   

    901-848-9028
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  • Dean H.
    Rental Property Investor · Salem, OR · Member since 2016 · 202 posts · 305 votes
    9y

    Kevin,

    I own several properties in the Memphis area that are long term rentals. I have a team in place and a couple of years under my belt in Memphis and still would not invest in that area. Like Curt says above way too many issues for remote investing. There are great areas in Memphis don't get me wrong. Frayser is NOT ONE OF THEM

    Just my 2 1/2 cents

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  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Hi, @Kevin Scott.

    Here's a link to a BiggerPockets dialogue we had about 1 year ago regarding Frayser.  I think you'll learn a lot from it.

    Also, be sure to check out the blogs and podcasts on BP, if you haven't done so already.  You can learn a ton from the real estate experts on the site.

    Best of luck to you on your journey to real estate investing success!

    Investor's Guide to Memphis Real Estate
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  • Dean H.
    Rental Property Investor · Salem, OR · Member since 2016 · 202 posts · 305 votes
    9y

    Kevin,

    Just to agree with Alex, I have a multi family property 6 miles SE of the alta vista area that is stable for now but if I needed to sell a property it would be the first i'd sell

    Another 2 1/2 cents

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  • Kevin Scott
    OP
    Real Estate Agent · Hermosa Beach, CA · Member since 2011 · 19 posts · 0 votes
    9y

    well thank you BP community!!!!

    I was google mapping today and I noticed that a McDonald's had closed. I thought, "well that's telling". Hahah

    I will continue on and look for different opportunities. 

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  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 890 votes
    9y

    @Kevin Scott if you see a deal and you would like to speak with someone local, my team would be happy to help. 

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  • Lauren Brown
    Memphis, TN · Member since 2014 · 16 posts · 4 votes
    9y

    Hello everyone, based on your comments and some additional research, I have taken Frayser off my list of areas to invest in for the time being. I am looking at wholesale opportunities in the 38125, 38016 and 38116 zip codes. Single family properties look the best. What are your thoughts?

    Lauren

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