New Investor Focused on BRRRR in Memphis – Looking to Connect

[Rodolfo Poe]

Hi everyone,
My name is Rudy, and I'm based in Tucson, AZ. I'm building a buy-and-hold portfolio using the BRRRR strategy, and I've chosen Memphis as my first target market because of its strong rent-to-price ratios and abundance of fix-and-hold opportunities.

I’m starting with about $90K in capital for my first project, and my buy box is primarily:

• Single-family homes (3/1 or 3/2 preferred)

• Purchase + rehab all-in under ~$80K–$90K

• Post-rehab rents in the $1,100+ range

• Stable, rent-friendly neighborhoods

For Year 1, my main focus is:

• Lining up investor-friendly agents who understand what cash-flow buyers are looking for

• Getting to know property managers who can help me rent quickly and keep tenants long-term

• Connecting with wholesalers who have off-market deals in my buy box

I’d also be open to talking with other Memphis investors about your experience in the market — what’s working well, what to watch out for.

If you’re local to Memphis and open to connecting, I’d love to hear from you!

Thanks,
Rudy

[Nadeem Alamgir]

Agreed ^^ If you can stay local or near the surrounding area, you should.

But if you can't, then out of state investing makes sense. Just make sure you find decent talent before looking for deals. Check out BP's "build your team" and interview some realtors, property managers, and get some referrals to GCs, etc.

Lastly, focus on finding realistic deals you can put under contract and successfully refinance. First time BRRRR investors, especially out of state, should look for deals that are 50 cents on the dollar, as those are the most competitive to get started with. You'll be stuck 6-12 months looking for the right deal. Also, those deals come with their own set of headaches. Almost all first time investors starting out aren't ready for them.