Depending on your job and family situation, you may not have much choice about where you live. But if you want to invest in real estate, geography is no limit. Inman News recently released a list of the best places to purchase real estate (http://www.inman.com/news/2012/06/6/top-8-best-bargain-markets-be-in-2012) in 2012. If you are looking for property to invest in, you might be interested to read that Memphis is number 7 on the national list (http://www.inman.com/news/2012/06/6/top-8-best-bargain-markets-be-in-2012?page=0%2C6). What makes Memphis so appealing? One key aspect is affordability, with a median home value of only $60 per square foot. As a solid market with both affordable homes and stable home values, you might want to invest in Memphis real estate in order to get the best bang for your investment buck.
Select Memphis Property to Invest In
1. 8374 Creek Front Drive
This cute brick home offers timeless looks as well as great value. Memphis Invest is offering this property for $85,900 after fixing it up, so it will be move-in ready for your potential tenants. The property actually backs up to a creek, and it is located just a few miles from the beautiful Shelby Farms Park. Whoever your property management company finds to live in this home, Memphis Invest estimates an income potential between $275 and $300 to be generated from this property each month, translating to a twenty percent return on your investment. If you want to invest in Memphis real estate, a property such as this one offers a lot of appeal.
2. 5995 Mingle Drive
Nestled between the popular Germantown area and Olive Branch, Mississippi, this three bedroom, two bathroom home sits on a large wooded lot. It is an older home that can be purchased for $82,900 after it is rehabilitated, and it also has an estimated monthly income of between $275 and $300 for the real estate investor. This estimated income is the difference between what the investor pays each month for the home mortgage and property management and what the tenant pays each month in rent, based on average rents in the area.
3. 4152 Chippewa Road
Are you hoping to invest in Memphis real estate at a very affordable price? Look no further than this brick home, located only two miles from the Park Avenue campus of the University of Memphis, a prime location for a rental property. This property boasts three bedrooms and one bathroom on a corner lot just a few blocks away from a neighborhood park. A great investment for a beginning real estate investor, the property is available for $63,900 after renovations, and it has an estimated potential for a 22.56 percent return on your investment.
How to Invest In Memphis Real Estate
1. Request a Free Investor Success Package to learn more about investing in the Memphis market. Why Memphis? How to get a bank loan? Why Memphis Invest? These questions and more will be answered in this free informative guide.
2. Do your research to find out more about what Memphis has to offer and why it is such a great city for real estate investment. From St. Jude Children's Research Center to colleges and universities to the Fed Ex Global World Hub, Memphis is a center for many flourishing industries with employees who need quality affordable housing.
3. Find qualified professionals to help you. If you choose Memphis Invest, you will find experienced experts to help you every step of the way, from researching available properties to finding the best tenants for your investment property.
Get started today!