What has been your experience with OOS investing in Memphis?

[Michael Rogers]

My Background:

First-time investor, very new to real estate (First post on BP!) and I am interested in starting out in the Memphis market as an OOS investor. I currently live in Mexico and I have read it is wise to start in the market you live in but being from the US brings complications I'd rather stick to investing in the USA. I am interested in Memphis because it appears to be a good market for cash-flowing opportunities but can be challenging regarding crime and slower appreciation.

My Finances:

My W2 nets me about $150K a year average (commission-based). We are completely debt-free with about $75K liquid in cash and $60K in accessible savings accounts. The cost of living in Mexico is quite low and we are able to save about $7k a month.

My Real Estate Investing Strategy:

• I plan to do out-of-state REI.
• I intend to target distressed multifamily properties (2-4 units) in B - C Class areas.
  • SFHs are acceptable but the numbers appear to work better in multifamily.
• I would like to utilize the BRRRR method in order to efficiently utilize capital.
• I would prefer to target higher cash-flowing markets.
• The end goal is a passive income with buy and hold.

My Question:

I would like to hear your experiences in the Memphis market and if you would recommend it today for a newcomer such as myself?