Out of state investor needs advice on a Mempis location

Out of state investor needs advice on a Mempis location

Investor · Lorton, VA · Member since 2017 · 15 posts · 3 votes

Hi everyone,

Thanks in advance for  your help.  I am out of state investor looking to make my first investment in memphis.  

I am currently looking at a 2 bedroom/1 bathroom house with central air, W/D hookups, but tenant provided appliances.  The property is located on Barron Avenue between Rutland Rd and Poppen Rd in 38111.   It would be a great help if you can let me know your thoughts on the follow:

1) How is the area?  War Zone?  Crime maps indicate that it is a pocket of relatively low crime compared to surroundings?  Is it a rentable area?

2) What is the going rent for a similar home?  What about rent per sq ft estimates?

3) is it typical in memphis for tenants to provide appliances

4) can you suggest a good property inspector?

5) Can you suggest a property management company that could handle the home in that area?

6) What is the $/sq ft range for which homes are selling this area.

Thanks so much!!

Dinesh

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    9y

    Personally you should avoid 2 bed homes, they tend to be less desirable especially in this area. Since the home is in a lower quality area you might want to consider CrestCore for management, keep in mind that no management company specializes in low end rentals but they manage a lot of homes and would most likely take it on where many would not. In many cases tenants provide their own appliances.  Price per sqft is all over the place. You should not be paying more then estimated $40-$45k for this home which should include a fresh true renovation. Without you providing the actual address you will only get responses like this. Good luck 

    Curt Davis - KAIZEN Realty538 Reviews
  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    9y

    @Dinesh Melwani

    I think I know what house you are thinking of buying and you should go directly to the seller @Stephen Akindona for this home.

    Curt Davis - KAIZEN Realty538 Reviews
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