Is Memphis a city for Multi family investment?

Question

One of my team members is seriously considering investing in Memphis zip code 38127

I am new to Memphis

Is this good location to invest?

Anyone has local knowledge please?

thanks

Jagan

Gino Barbaro · Answer

@Jagan Reddy

Have you pulled the trigger on Memphis? Just like any other metro, it has its higher median income neighborhoods and its lower. It can go block by block, so having an intimate knowledge of neighborhoods is critical.

The key is to not over pay in the more distressed neighborhoods, and to overfill, expecting to attract higher paying residents.

Use this link for median income --> https://geomap.ffiec.gov/ffiecgeomap/

Gino

Dean Harris · Answer

@Jagan Reddy

I own several long term rental properties in 38127. Im happy to have that conversation with you on what to expect and where in that zip code you might want to stay out of. Lots of opinions out there on 38127 but I would encourage you to speak to investors who actually own rentals in this zip code

Best of luck!

Patrick Galphin · Answer

@Jagan Reddy Welcome to the Memphis market! Our team at CrestCore specializes in working with investors both local and out of town. We have a team in place and the knowledge to help investors grow their portfolio's here.

Memphis has lots of options for investing and 38127 can be strong. Be sure to check out our teams zip code break down on our podcasts and it will give you some great detailed information on each zip code.

Happy to connect and give additional insight anytime!

Phil Petite · Answer

Two of the four rentals that I own are in 38127, so I'm biased, but I do feel as though it is a very good area to invest in, as there are deals available there, and the rents are very solid. There are some better areas in that zip code, and then there are some areas that you should avoid, but overall I'd say that most areas are about a C/C+ level with some even being a B- grade.

I hope this helps! :)

Jordan Ray · Answer

I think 38127 can be a great area to invest! It's not my personal favorite and I don't focus in 38127 for my own investing but I know the area and have helped my clients acquire some deals here and they seem to love the zip code! Goodluck investing and let me know if you need help with anything!

Taz Zettergren · Answer

@Jagan Reddy Memphis is certainly a street by street city. It really depends on which part of 127 they're considering. Feel free to DM and I'll give you my two cents

Joseph Chiofalo · Answer

Hi Jagan,

Many of our investor buyers have been focusing in on TN due to good location and rental demands.

On 1-4 unit transactions some lenders offer up to 85% financing for investment property transactions.

On 5+ units, 75% max is possible as well.

Best of luck starting out.

JC

Jagan Reddy · Answer

Hi Jordan

I left a message for you at your office

thanks

Jagan

Joseph Bui · Answer

I have a couple doors in Memphis. I wouldn't consider myself an expert but I would be happy to connect and knowledge with anyone interested.

Tyler Tapley · Answer

Hey Jagan,I hope you're well.38127 / Frayser is an ok area to invest. You can still get affordable and cash flowing homes there. We do see a lot of investment activity in this zip code from large groups as well as individuals. Memphis in general does have some multifamily stock, though perhaps not as much as some other older cities. As a general rule (though their are exceptions) we typically see smaller multifamily (quads and smaller) either in C areas or A areas without much in-between. Larger apartment buildings tend to be more varied. Hope this helps!- Tyler

Is Memphis a city for Multi family investment?

Is Memphis a city for Multi family investment?

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