Memphis Multifamily Location

[Harith Naga]

I am in contract on a multi family near St Jude. Its South of the 40 Interstate, and east of Danny Thomas Blvd. Its showing up as downtown in some areas and also showing up as winchester park on other maps. 

Just wanted to get feedback from locals about the neighborhood. Currently about half of the units are rented at around 300/month. At such a low rate, what kind of demographics do we get? Do we have people who can't pay on time? Am I going to be spending all my money evicting people? What kind of crime rate? Etc...Any thoughts/feedback would be appreciated!

[Curt Davis]

Without having the actual address I can only give you basic opinions. This area is mostly rough and for only $300 per month the type of tenants you will get will typically be super low income and possibly have trouble paying. 

My advice to you is that as long as you understand that there are more negatives then positives and this area is not that great, if you are willing to roll the dice then go for it but I could never sell anything like this to a client as I know statistically how this will go. 

There will be zero appreciation and if you try to resell it will be difficult at best. I would be willing to bet the person selling you the property is praying you are not getting opinions like mine. 

Good luck, dont say we didnt warn you !!