Researching a 26 Door Portfolio in Memphis - help!

8 Replies

All, there is a portfolio I'm trying to do some due diligence on.  I'm fairly familiar with the zip codes of Memphis but lack a bit on the street-by-street knowledge.  I typically stay out of areas less than C+, like 38127.  Can anyone take a quick peek at the map below and identify if any of these properties are in C+ to B neighborhoods? All of these were turnkey at one point and all but two doors are rented out currently.  The financials appear great and cash flow looks great, but not sure if there's just too much risk with these ones.

Much appreciated!!!

https://www.mapcustomizer.com/map/26%20Door%20Memp...

In my humble opinion, everything on your list was at a D at best. This will not turn out well.

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Thanks Curt for the advice.  For the 38127 properties, are they in a bad part of 38127 or are you saying 38127 as a whole is no better than a D?  I'm aware that Northaven should be a no-go within 38127. Same question for the 38122 properties.

Unless you live here locally I don’t suggest owning in that area. Sure there might be a very small pocket or two that is ok but in general and experience they never turn out well for out of state investors long term. 

Search/Check out our comments in the Shelby Forest thread.

We have to drive by Northaven every day (our family farming area) & it’s flat out scary! — like [email protected] said, especially for anyone out of town — frequent neighboorhood crime , really bad crime!... have you looked at the Watchdog child molestors map?  I’ve No idea why, but that Frayser & Northaven area is crowded with them - just really scary. 

Run Forrest run, terrible addresses mostly.  You're buying someone else's problem not an investment!

Thanks Dean, super helpful!  And Michelle, thank you!! I actually tend to keep to 38133/34/35, 38122, 38128, and 38116. You guys?

I agree with every response.... these are not the best areas in the city

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