Memphis Apartment Investment

7 Replies | Memphis, Tennessee

Ed just a heads up. Memphis would have to be the worst market in the country for multi family. It is a complete ***** to manage and I have watched out of state people lose money over and over again. I have literally watched property after property bought and sold at a loss repeatedly because out of state or overseas investors just don''t understand how had it is to manage. So find a pitbull property manager first and don't buy anything without their approval as they are the ones who have to try and make it profitable for you.

The vast majority that are for sale are in C and D areas so be careful.

You should get in touch with Jeff Moore of Crye Leike commercial. Probably the best multi family agent to get in touch with. 

@Dean Letfus Thanks for taking time to reply . I appreciate your input as it seems I have heard this a bit as I search further .  I am making a trip to he area this week to look around and run some numbers but with caution ... 

@ Curt Davis  ... Thanks for the reply .This is really good to know as I already have appt set up with him . So sounds like I have a good starting point .

Thank you for the Insight Dean,

I am with a group out of CA and we are currently active in Little Rock AR in the B+C Multifamily value add space. Looking to move into Memphis since it is close enough that some of our current Broker, PM and Banking relationships will crossover.

We currently work with Trinity Multifamily as an apartment property manager and have been very impressed. They manage 500+ units in Memphis so we plan to work with them there as well. But I do want to interview other options to make sure I have a good understanding of the market.

Are there any multi family property managers that you would suggest?

Hello @Ed Rosenberg   our company has recently sold a 58 unit, and a 32 unit apartment complex. We also have a 22 unit apartment complex listed for sale right now that might meet your buying criteria. If you would like I would be happy to visit with you when you are in town and discuss with you our experience with multifamilies in Memphis. The owner of our company just bought within the last year a 120 unit, a 60 unit and a 40 unit apartment complexes. Which our in-house property management company manages along with 1750 units in total. 

Originally posted by @Sean Tagge :

Hello @Ed Rosenberg   our company has recently sold a 58 unit, and a 32 unit apartment complex. We also have a 22 unit apartment complex listed for sale right now that might meet your buying criteria. If you would like I would be happy to visit with you when you are in town and discuss with you our experience with multifamilies in Memphis. The owner of our company just bought within the last year a 120 unit, a 60 unit and a 40 unit apartment complexes. Which our in-house property management company manages along with 1750 units in total. 

Sean -

I'm going to be in Memphis next weekend and would love meet up. I'm looking at SFR and MFR and want to see what my options are.

Please PM me.