Targeting Areas In Memphis

[Jason Stubblefield]

I'm looking to invest in the Memphis market and I was wondering if anyone could help me narrow down areas to focus on.  I have have limited funds for the number of homes that I'm looking to purchase.  I understand there are some great areas and some not so great.  I'm looking stay around the 50k mark with each purchase but I know 50k in one area can be drastically different then another.  While digging through the forums I found this great map from a couple of years ago: Memphis Area Map. Can anyone advise on how to best use this map for my situation (i.e. focus on the orange/yellow/purple etc)? Or if anyone has strategies for winning in lower priced markets, I'd love to hear them. 

[Alex Craig]

@Jason Stubblefield avoid all the red. Avoid 1/2 the orange. 80% of the rest of the map is in play. Memphis is almost impossible to shop from a map like this as one side of the street can be good and one side can be not so good. Take for example Jackson Ave at McClean. Homes south of Jackson ave are worth 30% more then homes on the North Side. Then once you go a block further North from Jackson past Henry, values drop 30% more. Then go one block further North and values drop another 30%. All that said if you go down Jackson to McNeil, even though are within one block of Jackson, values on that side are at least 50% less then 2 blocks to the east. 

Confusing? Memphis is filled with several dozen of these types of scenarios.