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Updated almost 8 years ago on . Most recent reply
Memphis Real Estate Investors - Would you consider this a war zon
Hello all i am considering purchasing a townhouse on Chesterwood Drive in Memphis for $18k that needs about $5k in rehab. I was wondering for those of you that know Memphis really well if you would consider this particular section a war zone to completely avoid or if there is some potential there. Any opinion would be great!
Most Popular Reply
Don't waste your money... The HOA is in really BAD shape due to the fact only 13 homeowners are paying the $64.00 HOA fee each month!! Which is insane out of 80 plus condo's over there? The city is suing the home owners and HOA for not keeping the property in good condition. I have one unit over there on Chesterwood Ct I lowered the rent down to $450 a month because I don't know how long it will be before the city comes in and shuts down the entire complex. Only 1 person who lives over there is actually a home owner and she states the tenants that are living there are part of the reason of all the furniture dumping and trash dumping over there. I hope this helps.