First timer, looking at Memphis

[Alan Hall]

Good afternoon all,

So I have been lurking around and listening to the pod casts for several months now so I figured I would say hi. I live in Fort Myers FL, but am looking at Memphis to start purchasing rental properties. Fortunately, I currently work in IT remotely so I should be able to "work" while I "work" as long as I can get back to FL in a day or two. 

I went on a scouting mission about a month ago, and I think I have a rough idea of the areas that I didn't like, and several that I did.  We (my fiance and partner in crime) are targeting Memphis because of the areas that we looked at, it seemed to have one of the better purchase to rent ratios of the areas that I looked at. Food is always an important thing when I am looking to travel to a new place so  that played a part in the decision making as well. Gibson's Doughnuts and Gus's sealed the deal. Our long term goal is to try to buy about one every 4-6 months so we can shoot for semi-retirement in 10 years or less if all goes well. 

I think for our first purchase in Memphis, we would like to find a duplex so we can have a place to stay when we are in town and a base of operations. We are trying to stay out of the war zones and in the up and coming to mid level areas. I have seen how ...patchy... the areas can be when you can have good and bad streets next to each other which has been a bit interesting. I have been watching RedFin and a few other sites for a while and am looking to make our first purchase in the next month or two if all goes well. Even though I am in IT, I am super handy and have done some renovation work in the past, so we are NOT looking for turn key. This goes back to working remote as I can "work" in between "working". I would also like to self manage for the first while if for nothing else than to understand it better. 

I may be up in the area week after next (better half has to go on a business trip) so I am free to head up and scout / plan on the nights and weekends while working during East coast business hours. If anyone wants to grab a bite/beer let me know. I saw that there was a Wednesday coffee meetup that I will definatley try to hit up. 

We will be looking for a local agent. If you are a good one, or know some one who is, please let me know. I would prefer to find someone I hope to trust though word of mouth rather than an internet ad.  Also, food recommendations are welcomed :)

Alan