Looking to invest in SFH in Memphis

Buying & Selling Real Estate
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Looking to invest in SFH in Memphis

Lyndi Love
Member since 2021 · 3 posts · 3 votes

Hi, I've had 2 buy and hold rentals in CA since 2008. I took the leap to sell one, doubling my money. Just closed today and set it up as a 1031 exchange. The market I was looking in, gives me pause and now I'm under the 45 day gun. I'm comfortable taking on some debt and have $250k to spend. Would like to spread out over 2-3 SFH buy and hold rentals. Would love advice in the Memphis market (or other good rental markets for that matter). Thanks so much!

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Dean HarrisBusiness Member
Real Estate Agent · Memphis, TN · Member since 2015 · 1k+ posts · 1k+ votes
4y

I am able to find SF properties in Memphis for my portfolio. Trusting your property source is the key. Asking tons of questions and educating yourself on the city of Memphis itself is also key to understanding where to buy and where not to buy. My wife and I own portfolio here that we have been building for 7 years and we are enjoying the cash flow and even some appreciation over the last few years which is atypical of our market. 

Best of Luck! I'm happy to answer any questions based on my personal investing experience in Memphis. 

CrestCore Realty4.713 Reviews
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  • Mike MoseePro Member
    Investor · Eagle Point, OR · Member since 2011 · 181 posts · 117 votes
    4y

    Hi Lyndi

    We've invested in Memphis for 10 years now & it's been good.  The key is to get a good property management team you can trust to have your best interest at heart.  We use Mid South Home Rentals in Arlington, Chris Peak, manager.

    If you're going to setup a Tennessee LLC to hold then getting a registered agent there is also important for taxes, cost around $200 per year.

    You can contact us if more information is wanted.

    Good luck

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  • Dean HarrisBusiness Member
    Real Estate Agent · Memphis, TN · Member since 2015 · 1k+ posts · 1k+ votes
    4y

    I am able to find SF properties in Memphis for my portfolio. Trusting your property source is the key. Asking tons of questions and educating yourself on the city of Memphis itself is also key to understanding where to buy and where not to buy. My wife and I own portfolio here that we have been building for 7 years and we are enjoying the cash flow and even some appreciation over the last few years which is atypical of our market. 

    Best of Luck! I'm happy to answer any questions based on my personal investing experience in Memphis. 

    CrestCore Realty4.713 Reviews
    View Page
    1Reply
  • Tyler Tapley
    Real Estate Agent · Memphis, TN. · Member since 2018 · 175 posts · 101 votes
    4y

    We have an entire database of properties that have been bought, rehabbed, rented out or flipped.  We are happy to share that information with you and discuss the market.  We don't manage or rehab properties but we can give dedicated property management companies and contractor recommendations. All of this is free and these are third party companies...we don't get a commission or kickback.  Let us know if we can help.

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  • Lyndi Love
    OP
    Member since 2021 · 3 posts · 3 votes
    4y

    Thank you all so much for the replies and recommendations! I’ve decided to laser focus in Maryland for right now.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    4y

    Check out the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

    https://www.biggerpockets.com/...

    [email protected]248-209-6824
    Logical Property Management4.9450 Reviews
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