WHY INVEST IN MEMPHIS
Memphis is a metropolitan area that encompasses decades of history; it is positioned on the Mississippi River, has an international airport that is a global hub for FedEx, and provides direct access to several railroads. In addition to these many attributes, Memphis also offers an array of jobs, shopping, entertainment, and cultural experiences, as well as affordable real estate. It is currently a rapidly growing region that attracts a diverse population, making it a great choice for real estate investors.
Rental Opportunities
Almost half of Memphis residents rent homes instead of owning them and acceptable rental rates are high in comparison to home prices. For example, a rental property can be purchased for $100,000 and rented out for $1000 per month, resulting in an impressive monetary return. If you’re interested in a larger investment, perhaps an Air Bnb or high-end properties, then the top neighborhoods like Midtown, Cordova, and the downtown area go for monthly rental fees up to $3,000. Further, many of the properties are turnkey, yet listed between ten and thirty percent below market value.
Wide Selection Of Services
The infrastructure of Memphis makes it attractive to commercial manufacturers and distributers from around the world. This suburban city also has several medical services such as St. Jude Children’s Research Center, MedTech Headquarters & Research facility, the LeBohneur Children’s Hospital, and health education centers. This equates to more jobs and a steadily growing economy as families and business owners continue to make Memphis their home.
Favorable Landlord Laws
In the state of Tennessee, landlords are not restricted on security deposit rates, which is helpful in attracting responsible tenants. Conversely, should the need for eviction arise, the laws are quite supportive of the property owners versus the renter.
Transportation Options Galore
In addition to the international airport, there are several interstate, federal, and state highways. Local transportation options are often an important factor for individuals and families planning to relocate to the area. The MATA (Memphis Area Transit Authority) covers over 30 routes and 300 square miles, and alternative modes include taxis, buses, trolleys, and bicycles. Overall, there are multiple connectivity options in Memphis, making it easily accessible.
Overview
Memphis properties are affordable compared to the national average. Also, there are various property types to choose from including apartment complexes, Air BnBs, townhomes, single-family homes, and condos. This diversity makes the area attractive to people of all ages from retirees or families looking to start a new chapter in their lives to the younger generation of millennials who are career focused and not prepared to purchase a home of their own, but want to enjoy a quality living environment.
Finally, Memphis has something for everyone and there’s no time like the present to cash in on this growing city and buy an investment property of your own.
Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses from 2007 up to the present of experience in real estate investing and property management in the Memphis and Nashville markets.
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