All Forum Posts by: Jordan Ray

Not sure.  I think it means 14.6% of the RE transactions in Memphis are flips.

From Google AI:

In the first quarter of 2024, Memphis, Tennessee had a 14.6% house flipping rate, which was one of the highest among metro areas with a population of more than 1 million.

This is directed at people in the Memphis, TN, area.  

I am considering buying two or three lots inside Memphis that are about 0.17 acre. I looked up the lot minimums for Shelby County, and these seem to be 15,000 square feet with a 100 foot width. I don’t know if Memphis has its own minimums that override those of the county. These lots I am looking at are about 7,500 square feet and about 50’ in width. Now here is the thing. In recently decades municipalities have passed lot minimums that render a huge number of the existing lots unbuildable, so they have had to accept grandfathering in a large number of the older lots. My sense is that this isn’t codified in an orderly way, however.

So this is a question for the real estate professionals on this forum. If I buy these lots—7,500 square feet with a 50’ width—how comfortable can I be that the person who buys them from me will be allowed to build a house on them? I want to know what your experience has been as far as these smaller lots being exempted from current code minimums. I know that in Mississippi the rule of thumb seems to be that as long as the lot can meet the frontage requirements, construction is permitted.

Hi all!

My husband and I are looking to buy our first ever real estate investment out of state (we live and rent in NYC. we do not want to buy here due to high cost of properties and high tax rates). I'm looking for advice and input on whether our initial strategy idea seems sound--

We have up to $400k cash to invest in a property (this is aside from other cash reserves that we want to keep on the side). With mortgage rates being so high, we'd like to do an all-cash purchase in a house with a good balance between cash flow and appreciation. Our thought here is that we will cash flow enough to cover property taxes, insurance, and management fees and possibly net $500-$1000 per month in profit. Since we won't have a mortgage, our hope is the property will appreciate over a few years and when (hopefully soon) mortgage rates come down, we can do a cash-out refinance on the home and invest in additional property(ies).

Does this seem sound? It seems hard to find any property these days that will meet the 1% cash flow rule in the US, so financing at 6-7% and not cash flowing doesn't appeal to us as a strategy - but is there something we're missing here where we should definitely lever up?

We've researched 10-15 different markets and we keep zeroing in on Columbus, OH as a good balance of appreciation and enough cash flow to cover expenses plus a little bit of profit. Our priorities in terms of market is there needs to be

- anticipated economic growth (lots of tech companies are moving into Columbus),

- prices need to allow us to buy in all cash (400k or less, ideally up to 300k),

- we want the area to be safe (when looking into places like Dayton, OH or Memphis, TN for instance it looks like all our boxes are checked on paper, numbers wise but we realized quickly there are a lot of unsafe areas and we could have the potential for problem tenants)

- yearly expenses to be relatively low (i.e. we are avoiding NYC and the tri state area, California, etc. for having extremely high taxes).

Is our initial analysis on the right track for Columbus? are there any other markets you would suggest that hit our criteria? We are initially looking at single families to start out but is a duplex a better option for some additional cash flow, or 2 smaller single families?

Thank you so much!

I'm in search of experienced real estate agents who specialize in finding single-family home investment properties in the Memphis area. If you have a proven track record of helping investors find great deals and can provide insights into the best neighborhoods for investment, I would love to connect with you.

What I'm Looking For:

• Knowledge of the Memphis real estate market
• Experience with single-family home investments
• Ability to identify high ROI opportunities
• Excellent communication and responsiveness

If you or someone you know fits this description, please reach out to me. I’m eager to get started and find some fantastic investment properties!

Thank you!

Hello everyone,

I'm in search of experienced real estate agents who specialize in finding single-family home investment properties in the Memphis area. If you have a proven track record of helping investors find great deals and can provide insights into the best neighborhoods for investment, I would love to connect with you.

What I'm Looking For:

• Knowledge of the Memphis real estate market
• Experience with single-family home investments
• Ability to identify high ROI opportunities

If you or someone you know fits this description, please reach out to me. I’m eager to get started and find some fantastic investment properties!

Thank you!