Seeking sfr, 3/2 or small multi in c or better area of Memphis, Shelby County
I'm in Memphis now shopping for more single family. What are you looking for, Turnkey ? Rehab to Rent ? With tenant or vacant ? Price range ?
@Mike Mosee - I just messaged you some info. If you have any other specific Memphis questions you can ask me here or send me a message.
Hi, looking for rehab to rent in $45-60 range. Zips 38128, 38134, 38133, 38115, 38118, 38053. C to B neighborhood. Wow, another person from my neighborhood investing there to! Thanks, Mike
Does the price you stayed, do the Homes need to be renovated and rent ready at that price? If that is the case the only zip code you might find that would be 38128 and 38118 but that is still difficult. If that price you stated is just the buy price not including rehab then it will be easier to find.
Caution as an out of state investor buying a 40k rent ready in Memphis. ( or any big city for that matter)...
you want to be at the top of the rental range as an out of state investor not the bottom.. too risky unless its your life's work and your going to roll up your sleaves and deal with the tenant drama that comes in those price points..
figuring $12-15k in rehab costs after purchase. Already have several sfr in Memphis
smart to concentrate in one area and build out the portfolio ... 10 plus doors in my mind is something one needs to be sustainable.
In Memphis I’d stick in the 60-80k range (including rehab) at an absolute minimum
Hi Jay, you certainly are correct to proceed with caution on low end properties. I've seen Memphis neighborhood quality varying from one block to another wildly. Always have boots on ground BEFORE making offers . Thanks, Mike
Mike as long as your going into these deals with eyes wide open and have seen them
the carnage is when people invest like they did with Morris invest.. high pressure sales tactics don't look at the property not allowed to get inspections.. I still can't believe so many folks fell for that line of BS..
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