HOUSINGNEWS REPORT
SPOTLIGHT: MEMPHIS
Rental Research Still Required Turnkey investment solutions catering to the passive investor do not excuse individual investors from doing their necessary research to understand a market, according to Kathleen Kramer, a licensed real estate broker with the Long Beach, California, office of Keller Williams Commercial. Kramer helps clients purchase investment properties across the country, including in Memphis, and she said that flying out to Memphis, doing her due diligence and building business relationships was key before
turnkey providers in the area, including Clothier.
she starting helping clients who were interested in buying properties there.
What she found was that the Memphis economy is robust, being bordered by the Mississippi River to the west. The city is a major transportation hub not only for freight carried by barge on the river, but it also has major railway and freeway access for truck freight. The region is also the home of the second largest freight airport in the world. Companies such as FedEx, Nike, and International Paper have major distribution centers there, and the area is also a growing hub for the medical industry. Block-by-Block Approach Kramer also recommends that investors looking at going into Memphis must take
“I think the process is to look at the local economy, and figure out who would your client be,” said Kramer. “What are the demographics? If I buy a house in this area who is my tenant? Where do they work? Will that category of work do well in a recession? Can I find quality property management? And then do the numbers work?”
Through her connections dealing with various real estate investment clubs, Kramer met a number of the
People who invest in Memphis need to be careful what part of town they’re buying in. Neighborhoods change in just a couple of blocks.” KATHLEEN KRAMER BROKER, KELLER WILLIAMS COMMERCIAL, LONG BEACH, CALIFORNIA
MEMPHIS Q1 2017 HOME FLIPPING HEAT MAP -3.3% HOME FLIPPING RATE (PERCENT OF TOTAL HOME SALES) CLICK ON GRAPHIC TO VIEW INTERACTIVE VISUAL 50.0%
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JULY 2017 | ATTOM DATA SOLUTIONS
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