I looking over a property in Raleigh (Memphis) TN. It looks like it could exceed the %1 rule.
For anyone knowledgeable of Memphis, is there anything I should know about this area before investing? Besides the schools aren"t so great.
Hello @Billy Maloney , Raleigh like most areas in Memphis has its good parts and rough parts. It might be beneficial for you to give us the address so we can pinpoint where you are going to be investing! I like anything east of Raleigh Milligton rd. I stay away from anything West of Raleigh Milligton. Some may disagree but the further from Bartlett you go the rougher it gets.
Some people like it rough because you can generally get houses cheaper in rough areas just keep in mind all the other issues that come along with rough areas!
Can't help without an address........
Dean Letfus, Memphisinvestment.com | 901 264 8674 | http://memphisinvestment.com/
E Rolling Woods Dr , Memphis, TN 38128
Positive aspects of this area are that there are no city taxes, only county taxes and homes are usually newer, say 1996 or newer on average.
The most important factor is who will be managing the home for you.
@Curt Davis thanks for the info. Yah im learning and hearing property management can make or break your deal.
I know who you are looking to do business with I believe. I had the opportunity to buy it but turned it down due to the overall area. It is in a small pocket where the homes look nice but the close general outside area is very rough.
I was just out in LA in Venice Beach, should have met up!!
Remember what I said about property mgnt?
Not a terrible area at all, you are correct about the schools though. Good luck on your potential investment.
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