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Moody's Economy as well as US News & World Report chose Memphis as the #1 Best Place to Buy Real Estate in the country. The reasons are plentiful.
The overall cost of living runs 10% below the national average. With 46% of the population renting (national avg is 28%) investors have plenty of tenants to choose from. Memphis escaped the large run up of prices during the boom years; therefore there was no major bust to cripple the local economy. Memphis has a nice high rental rate compared to home prices providing good solid cash flow. RealtyTrac has just released a list of the 20 best markets to buy a rental home as an investment. The company analyzed median sales prices and average rental rates for three-bedroom homes nationwide and estimated the average return an individual investor should expect to get in these markets. “The top 20 markets we selected represent the best chance to buy rental homes that generate good cash flow,” says Daren Blomquist, vice president at RealtyTrac. “But opportunities are available in most markets across the country given the combination of relatively low prices, low interest rates and a strong rental market.” |
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Stats
The unemployment rate has been declining for the past six months as illustrated by the Department of Labour Statistics
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Facts
Memphis is a city in the southwestern corner of Tennessee.
Memphis is the second-largest metropolitan area in Tennessee, surpassed only by metropolitan Nashville The city's central location has led to much of its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry. A third interstate, I-69, is under construction, and a fourth, I-22, has recently been designated from the former High Priority Corridor X. River barges are unloaded onto trucks and trains. The city is home to Memphis International Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for FedEx Express shipping. Memphis is the home of three Fortune 500 companies: FedEx, AutoZone, and International Paper. Other major corporations based in Memphis include Allenberg Cotton, American Residential Services (also known as ARS/Rescue Rooter), Baker, Donelson, Bearman, Caldwell & Berkowitz, Cargill Cotton, City Gear, First Horizon National Corporation, Evergreen Packaging, Fred's, GTx, Guardsmark, Lenny's Sub Shop, Perkins Restaurant and Bakery, ServiceMaster, Thomas & Betts, True Temper Sports, Varsity Brands, and Verso Paper. Corporations with major operations based in Memphis include Carrier, Merck & Co., Medtronic, Sharp Manufacturing, Smith & Nephew, and Technicolor Home Entertainment Services. The Federal Reserve Bank of St. Louis also has a branch in Memphis. |
Turnkey Investment Properties in Memphis
The following is our most current inventory of properties. All these properties have been fully renovated and have tenants in place with leases.
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$58,000
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Insurance $225
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$68,000
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Insurance $225
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