MEMPHIS MEMPHIS MEMPHIS

[Brendan Lawrence]

hey guys!

I read the great book, "Who Not How", recently, and in respect to the wisdom of the book I'm landing right here to ask this question!

Memphis, TN, seems very appealing for a remote rental investment territory.  I've noticed MANY neighborhoods where houses can be bought sub-$20k. But, a quick drive down the google street view and it looks like everybody is either working from the sidewalk or inspecting the patios for signs of rot.  Obviously this turns around any thoughts of considering these regions, but I do notice that there are a handful of zones where you can spend maybe around $40k or $50k and the next street over is starting to find 6 digit homes being listed.

My question here is what would you say the best neighborhoods are, for a BRRRR investor? I have about $10-15k to put down on a property of my own, and another $10k from a partner. I'll be holding mine as a rental but flipping the house with the partner for an equity split. It doesn't have to be IN Memphis either, mostly just commuting distance.

Do any of you guys/gals have property management and/or realtors that you recommend?  I'll absolutely give them a call and if you like I can drop your name as well as the reference.  

Thank you for any info and hope your 2021's are off to a good start!

[Keleisha Carter]

Hi Brendan, I have been studying the Memphis market since May 2020 and what I've learnt is that each zip code vary street by street. I've also listened to Crest Core podcast, they have 2 episodes talking about the zip codes and giving an overview of each.

@Kenneth Williams I just met and he can share with you a zip code guide. I started using that to compare with the guide that I have. I can share with you as well.

Another thing I would suggest, (I'm finally understanding the benefit of this now) make realtor, Redfin and trulia your best friend. Just go on the MLS, type in Memphis and view properties to see what they are being listed for. Redfin has an option where you can filter your search for properties last sold so you can do a comparison. Then, start analyzing them using the BRRRR calculator. It doesn't matter if your numbers aren't correct right now, but try to understand which numbers affect what so you know how to make adjustments. For rent, use rentometer and if you finish your free trial, use zillow.

You can also reach out to @Stephen Akindona he has been super helpful. He has a team and can manage your renovations as well.

Shoot me a private message if you have any questions. Rookies helping each other out.