If you are an investor or even just an interested investor reading up on real estate blogs, this is going to be an interesting piece of advice. Most Memphis real estate investors are tuned into the neighborhoods they like and where they can get the best return for their investment. Unfortunately, there are a lot of unscrupulous people out there who are out to make quick bucks on Memphis properties. Memphis is, after all, one of the top real estate investment cities in the country.
It is more important today than ever to know who you are doing business with and which companies are going to be true partners in your long-term success. Memphis is a great city for long-term investing and the buy & hold strategy. But a new report out this week highlights why out-of-state investors need to be aware of where they are buying properties and who they are buying properties from. The report, Neighborhood Report, highlights the 25 neighborhoods with the highest crime rate in America. Unfortunately, Memphis has two neighborhoods on the list.
Here is where information and the right partner are on your side. At memphisinvest.com, we only invest in roughly 45% of the city and no where near either of these two neighborhoods. Unfortunately, there are only a couple of other companies in town who do not appear to invest in these neighborhoods. The rest, gladly sell properties to unsuspecting out-of-state investors in these areas because the deals are cheap.
To make it worse, companies located in other states who buy large groups of houses very cheap and then market them for sale, have no idea where the good neighborhoods are and which neighborhoods to avoid. Again, they are purchasing strictly by price and selling cheap properties instead of true long-term value. If you are interested in earning real long-term wealth and building a portfolio, make sure you do your research and know who you are investing with. It's important to know they are experts and will protect your long-term investment.