Looking to connect with others investing in rental properties in the Memphis area
Investor · NJ · Member since 2026 · 5 posts · 7 votes
Looking to connect with others investing in rental properties in the Memphis area
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Andrew GlissonBusiness Member
Property Manager · Memphis · Member since 2026 · 135 posts · 95 votes Welcome. I am a Memphis operator on the buy-and-hold side, and I track the rental market here pretty closely.. heres what the data shows right now:
Leasing speed: metro median is about 31 days from list to lease, but the zip spread is wide. Collierville leases in about 16 days; 38122 runs about 39. Budget vacancy by zip, not by the citywide number.
Pricing: most Memphis rentals lease at their advertised rent. When landlords do cut, the median cut is small (about $55), and listings that cut tend to lease within about a week after. If you are sitting 5+ weeks with low activity, the ask is the problem, not the market.
Rent levels: typical asking across the metro is around $1,350 for a 3 bedroom, but the top of the ladder (Germantown, Collierville) runs $2,000 to $2,500 while the value zips sit under $1,000.
Two very different strategies live in Memphis.
Happy to compare notes on specific zips if you want to go deeper.
15 Replies
- 2moArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 905 votes
Quote from @Randy Austin:
Hi everyone, I am investing in rental properties in the Memphis, TN area and wanted to connect with others who are doing the same.
My focus is long-term rental properties, and I’m especially interested in learning more about different neighborhoods, property management experiences, tenant quality, and what people are seeing in the local market right now.
I’m not here to pitch anything. I’d just like to build connections with other buy-and-hold investors in Memphis, compare notes, and learn from people who are actively working in the area.
If you’re investing in Memphis, I’d love to hear:
- What part of the market you focus on
- What’s working well for you right now
- Any lessons learned or mistakes worth avoiding
- What is your experience with your property manager
I’m always open to a good conversation with other serious investors and local operators. If you’re active in the Memphis market and interested in connecting, feel free to reply here or message me directly.
Looking forward to meeting others in the space.
Great approach, Randy. Connecting with investors who are already active in a market is one of the fastest ways to avoid expensive mistakes. I'd pay close attention to property management quality because it can make or break an out-of-state investment. It's also worth comparing Memphis with Midwest markets, where many investors are finding strong cash flow and solid long-term rental demand. The best market is usually the one where you have the right team and the numbers work consistently. - 2moJames WachobBusiness MemberReal Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 887 votes
Hello @Randy Austin. Welcome! It's always great to see more investors focused on the Memphis market. Building relationships with people who are actively investing there is one of the best ways to stay on top of neighborhood trends and avoid costly mistakes.
I'm a real estate agent based in Memphis and work primarily with out-of-state investors building long-term rental portfolios. One thing I've learned is that success in Memphis comes down to buying in the right neighborhoods, underwriting conservatively, and surrounding yourself with a strong local team. A great property manager can make a tremendous difference, especially for out-of-state owners, so it's worth taking the time to find one that communicates well and has solid systems in place.
I've also found that investors who focus on long-term relationships with their agent, property manager, contractors, and lenders, tend to have the best long-term results.
I'd be happy to connect and compare notes on the Memphis market. If you're ever looking for another local perspective or want to discuss neighborhoods, rental trends, or property management, feel free to reach out. Wishing you continued success as you grow your portfolio! - 2moDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Quote from @Randy Austin:
Hi everyone, I am investing in rental properties in the Memphis, TN area and wanted to connect with others who are doing the same.
My focus is long-term rental properties, and I’m especially interested in learning more about different neighborhoods, property management experiences, tenant quality, and what people are seeing in the local market right now.
I’m not here to pitch anything. I’d just like to build connections with other buy-and-hold investors in Memphis, compare notes, and learn from people who are actively working in the area.
If you’re investing in Memphis, I’d love to hear:
- What part of the market you focus on
- What’s working well for you right now
- Any lessons learned or mistakes worth avoiding
- What is your experience with your property manager
I’m always open to a good conversation with other serious investors and local operators. If you’re active in the Memphis market and interested in connecting, feel free to reply here or message me directly.
Looking forward to meeting others in the space.
How did you pick Memphis?
Logical Property Management4.9450 Reviews - Investor · NJ · Member since 2026 · 5 posts · 7 votes2mo
I picked Memphis mostly because it was featured by Equity Trust. All of my investments are being made through my SDIRA. I would be interested in hearing about what other markets are showing similar cash flow to capital investment ratios. It seems to me, granted with very limited knowledge, that the rents are pretty good in Memphis on lower cost single family homes.
- 2moAndrew GlissonBusiness MemberProperty Manager · Memphis · Member since 2026 · 135 posts · 95 votesWelcome. I am a Memphis operator on the buy-and-hold side, and I track the rental market here pretty closely.. heres what the data shows right now: Leasing speed: metro median is about 31 days from list to lease, but the zip spread is wide. Collierville leases in about 16 days; 38122 runs about 39. Budget vacancy by zip, not by the citywide number. Pricing: most Memphis rentals lease at their advertised rent. When landlords do cut, the median cut is small (about $55), and listings that cut tend to lease within about a week after. If you are sitting 5+ weeks with low activity, the ask is the problem, not the market. Rent levels: typical asking across the metro is around $1,350 for a 3 bedroom, but the top of the ladder (Germantown, Collierville) runs $2,000 to $2,500 while the value zips sit under $1,000. Two very different strategies live in Memphis. Happy to compare notes on specific zips if you want to go deeper.
- Specialist · Long Beach, CA · Member since 2011 · 873 posts · 393 votes2mo
Hey Randy. I have 4 rentals in Memphis. I think it's been about 9 years now. They are all long term tenants. I never have had issues finding tenants. I have a PM that takes care of everything. They are in C areas so not much appreciation happening. But they do have steady cash flow. I still think Memphis is a great market for buy and hold. About half of the population there rents. And the economy is pretty diverse.
- 2moJordan RayBusiness MemberReal Estate Agent · Memphis, TN · Member since 2023 · 623 posts · 321 votes
Quote from @Randy Austin:
Hi everyone, I am investing in rental properties in the Memphis, TN area and wanted to connect with others who are doing the same.
My focus is long-term rental properties, and I’m especially interested in learning more about different neighborhoods, property management experiences, tenant quality, and what people are seeing in the local market right now.
I’m not here to pitch anything. I’d just like to build connections with other buy-and-hold investors in Memphis, compare notes, and learn from people who are actively working in the area.
If you’re investing in Memphis, I’d love to hear:
- What part of the market you focus on
- What’s working well for you right now
- Any lessons learned or mistakes worth avoiding
- What is your experience with your property manager
I’m always open to a good conversation with other serious investors and local operators. If you’re active in the Memphis market and interested in connecting, feel free to reply here or message me directly.
Looking forward to meeting others in the space.
Welcome to BiggerPockets! It's great to see more investors connecting in the Memphis market. I've been investing here for several years, and one of the biggest things I've learned is that Memphis offers a great balance of cash flow and appreciation if you buy in the right neighborhoods. There are still plenty of opportunities to find single-family rentals under $150K, and depending on the neighborhood and condition, many can still meet the 1% rule. If you're focused on long-term wealth, you can underwrite for strong cash flow while knowing that appreciation is likely to follow over time when you purchase quality assets in desirable locations. If you're interested in the BRRRR strategy, one advantage we have here is access to local hard money lenders that will finance 100% of the purchase and 100% of the rehab, allowing many investors to get into deals with around $10,000 out of pocket before refinancing into long-term financing once the renovation is complete. If you're investing from out of state, I'd encourage you to spend time learning ARVs, rents, market trends, and the overall layout of Memphis before buying. Just as important is building a strong boots-on-the-ground team consisting of an investor-friendly agent who also owns rentals, a solid property manager, a reliable general contractor, and the right hard money and DSCR lending contacts. Having the right team in place will make your investing experience much smoother and help you avoid costly mistakes. Feel free to reach out, talk soon!
Jordan Ray - eXp Realty5110 Reviews - Investor · NJ · Member since 2026 · 5 posts · 7 votes2mo
Very interested in the BRRRR strategy you described.
- 2moJordan RayBusiness MemberReal Estate Agent · Memphis, TN · Member since 2023 · 623 posts · 321 votes
Quote from @Randy Austin:
Very interested in the BRRRR strategy you described.
The one that I described?
Jordan Ray - eXp Realty5110 Reviews
- 1moJosh HandlerPro MemberContractor · Memphis, TN · Member since 2026 · 54 posts · 59 votes
Randy, since you said you're most interested in the BRRRR side, here's the piece the agents and PMs usually skip, and it's the part that actually decides whether a Memphis BRRRR works: the rehab execution and the appraisal.
The refi is where these live or die. Before you buy, get your refinance lender's required rent and ARV in writing, then build the scope of work backward from that number so you're renovating to hit an appraisal, not just to make the house nice. A lot of out-of-state BRRRRs stall because the rehab was fine but the finished product didn't appraise where the model assumed.
On the rehab itself here, budget for what older Memphis houses hide. Pre-1965 stock often has cast iron drain lines and galvanized supply on their last legs, so scope the sewer line before you close. Older panels and cloth wiring usually mean a panel upgrade, and if you go Section 8, HQS will fail you on missing GFCIs and handrails anyway, so plan those in from day one. A lot of the sub-$150k cash-flow houses are pier-and-beam on clay soil, so leveling can be a real line item. Put a 15-20% contingency on any Memphis rehab you underwrite.
One more thing specific to your setup: since you're buying through an SDIRA, the rehab has to stay arms-length and get paid from the IRA, no doing your own work or fronting costs personally. So your scope, draw schedule, and contractor payments need to be clean and documented for that reason on top of everything else.
Full disclosure, I run a construction company here in Memphis that does investor rehabs and BRRRR projects, so this is the part I live in. Happy to be a resource as you map out the first one.
- 1moJames JonesPro MemberInvestor · Collierville, TN 38017 · Member since 2017 · 589 posts · 445 votes
@Randy Austin fellow Memphis buy-and-hold investor here (I'm local), so here's the operator's take rather than a pitch.
The others are right that Memphis is really two markets. The sub-$150k value zips (Frayser, Raleigh, parts of Hickory Hill, Whitehaven) are pure cash-flow plays with little appreciation; Collierville/Germantown are the appreciation end but don't cash flow the same. For an SDIRA buy-and-hold chasing rent-to-price, the value zips are usually where your numbers live.
Two things nobody's flagged for your specific setup:
1) Section 8. In those sub-$150k Memphis zips the voucher payment standards often meet or beat market rent, and the housing-authority portion comes by direct deposit — which pairs really well with a hands-off SDIRA hold. Pull the payment standards by zip before you buy (there's a free tool that shows them, search "section8guys app") so you can see where the voucher actually pushes rent above the open-market number.
2) BRRRR inside an SDIRA — go in eyes open on UDFI. The moment you put leverage (the refi) on a property held in an IRA, the debt-financed share of the income becomes subject to UDFI tax, so you lose part of the IRA's shelter on that piece. It doesn't kill the strategy, but a lot of folks model an SDIRA BRRRR as if it's fully tax-sheltered and get surprised at tax time. Get a CPA who actually knows UBIT/UDFI rules on it before you count the numbers.
Happy to compare notes on specific zips or how I'd structure a Memphis BRRRR — I run a free community where a lot of the Memphis and Section 8 stuff gets shared, easy to plug into. Feel free to reach out.
- 1moMike MoseePro MemberInvestor · Eagle Point, OR · Member since 2011 · 181 posts · 117 votes
HI Randy,
We've been investing long term in Memphis for 14 years, multi & SFRs. Happy to share experience with you
Best,
Mike
- 1moRobert BellBusiness MemberLender · 38119 · Member since 2021 · 70 posts · 71 votes
Welcome to the Memphis market! Great group of investors here, and always good to see more long-term rental investors getting active in the Memphis.
A few things I'd add from what we're seeing locally: markets like Frayser, Raleigh, and parts of Whitehaven still offer solid cash-on-cash numbers for B/C class rentals, while areas like Cordova, Bartlett, and East Memphis skew more toward stability and lower turnover but tighter margins. Tenant quality tends to track pretty closely with proximity to job centers and school zones, so that's usually where we see the biggest swings in vacancy and collections.
I know some great boots on the ground PMs. Message me if you are interested in more info.
Avalon Capital, LLC580 Reviews - Flipper/Rehabber · Memphis Tennessee · Member since 2026 · 3 posts · 1 vote1mo
Randy, great discussion. I’m local here in Memphis and co-founder of L&A Fixes Contractors. We work directly on residential rehabs and have seen firsthand how much the condition of the major systems can change the numbers on lower-priced properties.
For out-of-state investors, I think having reliable local eyes on the property before committing to a rehab budget is especially important. Plumbing, electrical, framing, HVAC, roofing and other hidden conditions can quickly change an otherwise attractive deal.
We’re currently active in residential renovation and redevelopment in Memphis, so I’m happy to share what we’re seeing from the construction side of the market and connect with other investors operating here.
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