Hi, I'm Kelly with Goldthread Legacy Properties, LLC. I came across your BiggerPockets posts about investing in Memphis and wanted to connect. I currently have a vacant single-family property under contract in ZIP code 38107, with an assignment asking price of $64,000. It's approximately 1,000 square feet, advertised as 3 bedrooms and 1 bathroom, and was reportedly renovated in 2025. Are you currently buying in this area, or do you know any landlords looking for affordable rental properties? I'd be happy to send the full details and would love to know your current buy box.
Kelly, thanks for reaching out. Yes, I am still buying in Memphis, and I look at assignments. My buy box is single-family, under $100K purchase price, with an ARV of $180K to $265K after repair and 3BR Section 8 rent of $1,395 to $1,950 that covers the payment at a 70 to 80 percent LTV DSCR refinance. Your $64,000 asking price and 3BR size are in the right range, but 38107 is not one of the nine ZIPs I buy in — 38109, 38111, 38112, 38114, 38116, 38117, 38118, 38122, and 38128 — so I would need the full picture before I could say anything. Send the address, beds and baths, square footage, current or projected rent, repair scope, and photos, and I will run the numbers. One thing up front: I never put earnest money down.