Memphis is an excellent market for investors, and if you’re thinking about buying your first property or adding to a growing portfolio, we hope you’ll consider our city.
Today, we’re talking about the top five reasons to invest in Memphis.
Philanthropy Leads to Community
First, we’re the most philanthropic city in the entire country. Per capita, we give more dollars back to the city than any other metropolitan area. This is something we’re proud of. Lots of groups and individuals are directing funds to revitalizing neighborhoods, creating nonprofit organizations, and doing everything we can to bolster the community. In Memphis, we don’t sit by and let people suffer. We don’t just leave people on the streets or let our neighborhoods fall into blight and decay. It’s an exciting time to be in Memphis, and your investment here will be bolstered by all of this community investment. For me, this is the single most important reason to invest here.
Appealing Price to Rent Ratio
In Memphis, we also have an outstanding price to rent ratio. If you look at what a house costs versus the rental income you receive, you’ll see that the numbers are pretty incredible. We’re listed as one of the top five cities for rent to price ratios. The return you earn on an investment property here is going to be far higher than what you’d earn in Los Angeles, New York, or any of the cities on the east coast.
Our Market is Steady
Memphis is a steady performance city. There isn’t much appreciation, but your cash flow will stay the same and remain predictable. We don’t have a lot of fluctuation in property values. Rents don’t jump high and then fall low. You can count on your investment and make plans based on what you’re earning today. You pay your price for a property, and you know that what you bought it for will result in an expected cash flow and ROI. This makes the investment process easier and more profitable.
Large Tenant Pool
In Memphis, 50 percent of our residents rent their homes. If you look at the economic base here, you’ll see that most jobs in this city fit that profile. The national average for homeownership is 63 percent. With Memphis at 50 percent, you have tens of thousands of more properties in Memphis for investors to buy and rent out to a large and qualified tenant pool.
Professional Property Management is Innovating
Finally, it’s easy to invest in Memphis because the property management field has grown and modernized. A lot of property managers and management companies have geared up in last 10 to 15 years to provide investor services. We work with fewer mom-and-pop landlords and more institutional investors and private investors with large portfolios. This has led to an increase in the services we provide, the systems we’ve perfected, and the technology we’ve invested in. Property management companies in town have honed their skills, and many of us now provide great services, especially for investors who are out of town.
These are only five good reasons to invest in Memphis. We can tell you about many more. Contact us at CrestCore Realty.
