Is Memphis a Good Place to Invest in Real Estate?
Updated: Aug 31, 2020
Real estate is a sensible investment option. Generally, it is always a good thing to put your money in real estate properties. It is better to put your money in a real estate investment rather than letting your money sit in the bank and depreciate. However, for those without any experience, the thought of going into unfamiliar territory may seem daunting. So exercising prudence with any type of investment is advisable. But let it not dissuade you from pursuing what could be a good cash flow opportunity for you.
Generate income with residential properties
Investing in residential properties that produce rental income year-round can be your best suitable option. Investing in residential property opens the door to a slow but steady income. So be sure that you are up for a long haul, not a quick return. Properties in great locations can provide consistent cash flow and great potential appreciation in the future.
Residential properties are still too high for me to afford in my area
As reported in Zillow, the housing prices have gone up to 3.8 percent in the previous year. This year it is predicted to rise around 4.1 percent. The average median home price listed in the United States is $244,900. Even if the down payment is within reach, a lot of people are still uncomfortable with parting a significant amount in their savings. Moreover, there are areas in the United States where the median residential properties are way beyond their reach. So why not invest in cities that offer relatively low housing prices?
It is a good place to invest in Memphis real estate?
Memphis, a city situated on the Mississippi River, with top-notch attractions such as Sun Studio and Presley’s Graceland, awesome food – BBQ Capital of the World, home of blues, and rich with an eclectic history.
Besides having an economy with steady growth, Memphis is one of the cities that offer low housing prices. Residential property investing is one of the great ways to invest in Memphis real estate. Rental property in a particular is a great investment in Memphis for the reason that there are more renters in Memphis than homeowners.
There are many real estate opportunities in Memphis that would be perfect for investing. But it is not always easy to choose which would be the best or the right property for you. So you must cautious in selecting a real estate investment. And if you are out-of-state investor, make sure to get a partner that knows the Memphis local real estate market.