Potential quad in memphis?

[Nick Monge]

I'm looking at a quad in 38106 (East of 69, on Bellevue).. Seems like an amazing deal.. It's a mom and pop run property right now. All 1/1s, fully occupied. currently grossing $2200 per month. Is this a good area?? Owners will be putting on a new roof before closing as well. I'm in the due diligence period, currently waiting on rent rolls, P+L, contracts on utilities/tv, etc..

Any input on this general area? I hear it's not the best for OOS investors but I also hear memphis is a street by street city for investing..

[John Ferraro]

Hey Nick, A little info on that part of town. That is deep into south Memphis just north of McLemore and Jesse Turner Park. I am a Memphis fire fighter and I have worked this neighborhood for more then 5 years It is not an area i would buy a property. This is one of the toughest hoods in the country and I imagine that It will bring you repair after repair and ALOT of turnover. It is near Stax museum but other then that not many outsiders travelling to this part of town. This is my opinion as a rental property investor and someone who spends plenty of time in the area. msg me if there is anything else i can help with