Success in Memphis

[Pamela Starnes]

This might not be the usual "success" post in this forum category, but to me it belongs here as I can say I had a successful week as the first time evaluating an out-of-state investing market. I am currently investing in small apartments in the Los Angeles area and have looked into Memphis as a possible out-of-state area to consider for part of my future investing as it is known for good cash flow and I also have family there and a basic familiarity with the city. I label my trip a success as I was able to accomplish my goals for the week of: 1. putting into action the steps needed to go out and investigate a new market instead of just sitting back and talking about doing something and not taking action 2. getting a good grasp of the layout, neighborhoods, and demographics of the market 3. meet, interact with, and learn about the business model of many of the active members of REI in Memphis that I have met on BP.

My experience in REI thus far has led me to cross paths with many incredible people at all stages of experience in investing but with common traits of integrity, professionalism, ambition and a tendency to place a high value on life-long learning and being of value to others to help propel them toward their own goals. The individuals I encountered in Memphis lived up to this. So when people like @Alex Craig, @Patrick Bingham, @Douglas Skipworth, @Dan Butler, @Tina Sandoval, @Derrick Craig reach out to you on BP just know that these are quality people with a lot to offer and understand the concept of doing good for themselves by doing good for others. 

(my apologies that some of the names tagged don't appear as such for some reason).

[Pamela Starnes]

@Todd Dexheimer, I would definitely agree that you cannot evaluate neighborhoods as a whole there and should look at a property location there on a street by street or block by block basis.  It did stand out to me that it is very patchy.  Because of that I think it is crucial to not only evaluate the overall sense of the city yourself, but more importantly to hone in on local connections/agents/team members there that can guide you toward specific properties that will meet your criteria.  The frequent contributors here on BP in the Memphis centered forums will be a great resource and helped me tremendously over a few days get a better sense of that market.  My experience so far has primarily been in small apartment complexes and that is where my greatest interest lies.  Just start conversing with the contributors here on BP and you will figure out the best fit for your investing strategy, but always know you can learn something from almost any person you reach out to.  PM me if you want to discuss further.  Best of luck...