Memphis compared to Knoxville Market for Multifamily

[Sarah Seaton]

I am a investor/ landlord in North Knoxville-- SFHs. We are looking at small multi-units. OR buy SFH turnkey instead of rehabbing. May need to to look outside our market to buy. Any thoughts or ideas as how Memphis compares to the Knoxville Market? Would be using a property manager if we did buy in Memphis. May have child attending Univ of Memphis next fall.. Love any thoughts or suggestions.

[James Martin]

You can do very well with small Multifamily Units! If you buy in Memphis make sure that the fuse boxes have been upgraded to breaker boxes.  Know that the outside landing guard rails should be at least 42" high and if all is possible try to stay away from flat roofs (easy said than done)! Don't be discouraged by the insurance and taxes, but please be prepared. Your known enemy will be high turn over if you don't utilize some state program, bad manager, water leaks and aluminum wiring.  I hope this helps!