All Forum Posts by: James Wachob

Hello @Niranjan P Ghate,

I’m based here in Memphis and have been helping out-of-state investors for a little over 20 years now. A lot of folks from California end up looking this way once they realize how far their money can go outside those high-cost markets. You’re definitely not alone.

Your approach makes sense. Setting some baseline numbers—like a minimum cap rate or cash-on-cash return—can really help you cut through the noise and avoid wasting time on deals that don’t even come close to hitting your goals. Just don’t overthink it too much early on. Those metrics are helpful, but they’re just tools. The more deals you analyze, the better your gut gets at spotting what’s worth a deeper look.

As far as what those numbers should be, they’re definitely not one-size-fits-all. Every market is its own animal. Here in Memphis, if you’re seeing 5–8% cash-on-cash, you’re in a good spot. You might see higher returns in more challenging neighborhoods, but that usually comes with more risk—tenants turning over often, more repairs, that sort of thing. So yeah, I’d say the numbers should flex depending on the market you’re in, not just be the same across the board.

Trying to look at the whole country is doable, but it can get overwhelming fast. If I were in your shoes, I’d pick two or three cities that line up with your long-term plan and really get to know those markets. Look for landlord-friendly states, strong rental demand, and decent price-to-rent ratios. Memphis hits those marks for sure, but there are other solid options out there too.

For your first property, I’d say focus on getting into something solid where you’ve got the right people around you—good property management, reliable boots on the ground, and a support system that’ll keep things from going sideways. Whether you go turnkey, value-add, or somewhere in between, the key is surrounding yourself with folks who know the local game and can keep you from making those “first-timer” mistakes. I’ve seen enough over the years to know that the team you build is just as important as the property you buy.

Anyway, if you’re looking at Memphis or just want to see what deals actually look like here, happy to share some examples or talk you through what’s working right now. No pressure—always glad to help someone trying to get their start.

Hello @Krystan Menz, 

Memphis is definitely worth a look if you’re after turnkey rentals and want to build out a portfolio without taking on big rehab projects right out the gate. There’s still a lot of value here—affordable entry points and steady rental demand in the right areas.

I'm a Memphian and have been helping out-of-state investors find deals here for over 20 years. It’s a market that’s treated a lot of people well, especially when they’re focused on long-term, cash-flowing properties.

That said, the biggest thing I always tell folks is—your property manager matters just as much as the deal itself, maybe even more. A great PM will protect your investment, keep things running smoothly, and act like a real partner. A not-so-great one? Let’s just say even the best property won’t perform well if it’s not being taken care of.

If you’re curious about Memphis or want to talk through anything, feel free to reach out. Always happy to share what I know.

Best of luck as you get started!

Welcome @Alicia Williams! Sounds like you're in a great spot—got some experience, ready to branch out, and asking all the right questions.

If you're open to suggestions, I'd throw Memphis on your radar. It’s not always the flashiest market, but it’s super solid for long-term rentals. Prices are still reasonable, and you can find cash-flowing properties without needing to break the bank. Plus, there's consistent demand from renters, especially in the right neighborhoods.

One thing I’d really emphasize—when you're buying out-of-state, your property manager is everything. Seriously. A great PM will treat your property like it’s their own and make your life so much easier. And honestly, I think having a solid management company is just as important—if not more—than scoring a “perfect” deal. A homerun property with a bad PM can turn into a nightmare real fast. But even an average deal can perform great if it’s managed well.

Happy to share more about Memphis or shoot over some contacts if you’re curious!

All the best as you get started!

Hello @Krystan Menz,

Memphis is a great place to start in real estate. There are tons of opportunities here, especially for SFH investments. The market is affordable, there's strong rental demand, and the potential for solid cash flow is definitely there.

I’m a Memphian and have been helping out-of-state investors for over 20 years. I know the area inside and out and would love to be a resource for you as you get started. If you’re looking for turnkey properties, Memphis has a lot to offer without the headache of rehabbing from far away.

Feel free to reach out if you have any questions or want to chat more about the market here!

Memphis, TN, offers plenty of hidden opportunities for out-of-state real estate investors. Let’s connect—I’d love to be your trusted boots on the ground in our local market!

Hello @Steven Le,

You’ve done solid research on Memphis, and you’re absolutely right—its economic growth is fueled by distribution, healthcare, and the massive impact of Ford’s BlueOval City project. The city has strong rental demand and remains one of the last true cash-flow markets in the country due to its affordability.

That said, your concerns about crime and long-term stability are completely valid. The two biggest challenges in Memphis are crime and the school system. If these issues were resolved, Memphis would be the next Austin or Nashville—markets where home values have soared, making cash-flow investing nearly impossible. If that happens, the opportunity to buy low and generate strong ROIs will disappear.

Right now, however, prices are still low, and many areas are undergoing gentrification. This creates a prime window for investors to pick up properties with great cash flow and long-term appreciation potential. But Memphis is a street-by-street market, meaning one block can be a great investment, while the next could be a costly mistake.

As a lifelong Memphian who has been helping out-of-state investors build successful rental portfolios here for over 20 years, I can tell you firsthand that having the right boots-on-the-ground partner is crucial. You need someone who knows the nuances of each neighborhood and can guide you away from potential problem properties.

If you’re serious about investing here, I’d be happy to discuss the best areas and strategies to maximize your returns while mitigating risks. Let me know how you’d like to proceed!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000

-Newly renovated home with abundant natural light & spacious backyard
-Prime location near Overton Park & top-rated schools
-Updated Bathrooms: New vanities, bathtubs, marble countertops, modern tiles & fixtures
-LVP Flooring: Durable, low-maintenance luxury vinyl plank
-Updated Kitchen: New shaker cabinets & modern finishes
-New Solid Panel Doors: Stylish interior upgrades
-Central Air & Heat: Efficient HVAC for year-round comfort
-Move-in ready, ideal for homeowners & investors

@Jayson Ruiz Perez Welcome to BiggerPockets! It’s great to have you here, and I love seeing motivated people like you diving into real estate investing. Your military and HR background will definitely be a huge asset—discipline, attention to detail, and managing complex tasks all play a big role in this business.

I’ve lived in Memphis my whole life and have been helping investors from around the globe build solid rental portfolios for over 20 years now. Our market here in Memphis holds a lot of opportunities for investors like you, especially when it comes to rental properties. Whether you're looking at single-family homes, multifamily units, or even commercial investments, there are plenty of ways to build a strong portfolio.

If you ever want to talk strategy, analyze deals, or get insights into what works in this market, I’d be happy to connect. Looking forward to seeing your journey unfold and hopefully exchanging ideas along the way.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $235,000

-Renovated Laundry Room: Fresh walls, paneling, and doors.
-Upgraded Bathrooms: New GFCIs, modern fixtures, toilets, and quartz vanities.
-New Entry Doors: Enhanced security and aesthetics.
-Durable New Roof: 30-year architectural shingles with wood repairs.
-Full Interior Renovation: PM Grey paint, white trim, ceiling repairs, updated doors, windows, modern lighting, and closet shelving.
-Move-in Ready: Ideal for homeowners and investors.
-Under Renovation.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $235,000

This newly renovated home offers abundant natural light, spacious interiors, and a sleek, modern design. Conveniently located near commercial centers with easy access to Downtown, the property is undergoing a full-scale renovation featuring high-end upgrades that enhance both functionality and style.

Key Features:
-Renovated Laundry Room: Fresh walls, paneling, and doors for a refined finish.
-Upgraded Bathrooms: New GFCIs, modern plumbing fixtures, toilets, and vanities with quartz countertops.
-New Doors: Replacements for front and rear entry doors, enhancing aesthetics and security.
-Durable New Roof: 30-year architectural shingles with repairs to any damaged wood for lasting integrity.
-Full Interior Renovation: New PM Grey paint with crisp white trim, ceiling repairs, interior door and window replacements where needed, modern light fixtures, closet shelving, and more.

Perfect for homeowners and investors alike, this move-in-ready property seamlessly blends modern style with practical enhancements.

-UNDER RENOVATION