Looking to invest in Memphis.

[Eric Hyde]

Hello hello! I am a new BiggerPockets member and have so many questions! lol I've researched so much lately and love it! My research has led me to look into the Memphis TN market. I'm looking for discussion on the matter, please. I live in California so I love Memphis for so many reasons. Price point, growth, employment, appreciation forecasts (roughly 4%). I'm also debating between a conventional loan (longer process, more hoops) vs a HML. Thoughts? I don't want to rehab a property and would like to buy and hold a rental for under $150K. Memphis appears to have good price/rent ratios.

Thanks in advance!

Eric Hyde

[Derrick Craig]

@Eric Hyde

There are soooo many bigger pocket forums post on this subject I can not begin to tell you if you are going to miss some great information with this and not look at the others on this subject.

My personal preference is conventional loans due to the much lower interest rate than a HML. Regardless of the time it takes for them to approve and close the loans.