Low Income Property Investments in Memphis, TN
Hi guys,
I'm looking to invest in property in the Memphis, TN area. I have about $50k to invest and have been looking at some of the lower cost housing (in the $25-$30k range). I'm hoping to get by with doing minor cosmetic upgrades (max of $20k), although it is difficult to find a property that doesn't need major renovations in that price range. I did find 2 possible houses that would fit my criteria in the Getwell and Orange Mound areas. I'm a little scared to invest in these areas though. I'm worried that I won't be able to sell the property after the work is completed. I think I could rent them out but renters in those areas are going to be very hard on the houses. Does anybody have experience with low-income housing in the Memphis area that is willing to give me some advice?
Thanks,
Jennifer