New cash investor looking in the Memphis area

[Sean Tenney]

Just started looking in the Memphis area for properties in the $75k range. Cash offers. Looking to cashflow and wanting to pick anyone's brain about experiences in the area. Trying to get a feel for rentability, location, etc. Would love to look to get a team together in the local area. I'm an out of state guy down in FL and the market is just ridiculous here so trying to maximize $$$ for cashflow. Appreciate any help!

[Teesh L.]

Quote from @Sean Tenney:

Just started looking in the Memphis area for properties in the $75k range. Cash offers. Looking to cashflow and wanting to pick anyone's brain about experiences in the area. Trying to get a feel for rentability, location, etc. Would love to look to get a team together in the local area. I'm an out of state guy down in FL and the market is just ridiculous here so trying to maximize $$$ for cashflow. Appreciate any help!

I am looking at single family rentals in Memphis as well, as recommended by the turnkey company we work with and Mike is right. The only worthwhile properties I've been presented with are about $110K+. But, I think we're looking in the right place because there are lots of cheap opportunities to buy (median price of a single family is ~$140K compared to the national average ~$400K), and over 53% of housing units in Memphis are renter occupied, amongst many other stats.