Memphis Market Inquiry

[Joaquin M Dugan Jr]

Good evening BP,

I am a newbie investor and had a quick inquiry regarding the Memphis market. I have done my DD with OOS investing and I landed on Memphis primary because it isn’t too far away from Dallas, where I currently live, the increase in population growth as well as employment growth. I am interested in single family rentals within the ranges of $50-$90K. My question to you all are, is there anyone familiar with the Memphis market, have their own experiences with rentals there, how is the cash flow and appreciation, and also are there any recommended core 4 (lender, real estate agent, contractor and PM) vouch working with

[Sean Howell]

Like @Dean Harris has said building a solid team is ESSENTIAL. I'm an out of state investor as well and on my first BRRR deal in Memphis, I got killed on it because the contractor walked off the job on us. Ended up having to pay the entire rehab costs twice. It turned a homerun full BRRR into a breakeven flip very quickly lol.

One thing I would say is definitely get to know the areas you want to invest in very well. Memphis can be street by street and there are a lot of turnkey companies out there renovating entire blocks, but a couple streets over it's complete trash.