Real Estate Trends, New Construction & Memphis Market Insights
The real estate market is shifting, and two major trends are taking center stage—migration to southern states and the resurgence of new construction. Investors are seeing an influx of renters relocating from the North and West to states like Tennessee, Georgia, Texas, and Florida due to job opportunities and affordability. However, this migration has created a housing shortage, increasing the demand for rental properties. In response, new construction is gaining popularity over traditional rehabs, offering investors brand-new homes with lower maintenance costs and guaranteed rental income. Memphis, in particular, is emerging as a prime market for rental investments due to its affordability, strong job market, and steady property appreciation. In this episode, we dive deep into why Memphis remains a top choice for investors, how new construction compares to rehabs, and what rental trends are expected in the coming years. Whether you’re a seasoned investor or just starting, understanding these trends can help you make informed decisions and maximize your returns.
The real estate landscape continues to evolve, and investors are paying close attention to shifting trends. One of the most significant changes is the migration pattern toward the South. With lower taxes, better job opportunities, and a lower cost of living, states like Tennessee are attracting thousands of new residents. This surge has created a housing demand that outpaces supply, making rental properties more valuable than ever. Many of these new residents are renters, further driving the demand for turnkey investment properties. At the same time, new construction is becoming an increasingly attractive option. Rather than dealing with the uncertainties and potential hidden costs of rehabbing older homes, investors are opting for brand-new 4-bedroom, 2-bath homes designed specifically for the rental market. These properties come with modern amenities, minimal maintenance, and long-term tenant appeal, making them a solid investment choice.
New construction offers several advantages over rehabs, including energy-efficient materials, durable tenant-friendly flooring, and builder warranties that cover major expenses in the first year. While some investors hesitate at the upfront costs of a new build compared to a rehab, the long-term savings on maintenance, repairs, and tenant turnover often make new construction the smarter choice. In Memphis, builders are pricing these homes competitively, with many available for around $165,000 and qualifying for the Memphis Housing Authority (MHA) rental program, which guarantees rental income at above-market rates. Whether you are looking to start your real estate portfolio or expand your existing investments, understanding how new construction fits into the evolving Memphis market is crucial for long-term success.
In this Real Estate Trends, New Construction & Memphis Market Insights episode:
- Migration to Southern States – The South is seeing a major influx of new residents due to job opportunities, affordability, and lower taxes. This surge is creating increased demand for rental properties, driving up home values and rental rates in key markets like Memphis.
- The Rise of New Construction – With an ongoing housing shortage, new construction is filling the gap. Investors are turning to newly built rental properties that offer lower maintenance costs, long-term tenant appeal, and higher rental income potential.
- New Construction vs. Rehabs – While rehabbing older homes can be profitable, new construction offers a hassle-free investment with fewer unexpected repairs, brand-new infrastructure, and warranties that minimize risk.
- Memphis as a Prime Investment Market – With stable home values, strong rental demand, and a resilient job market, Memphis continues to be one of the best cities for real estate investing. Its affordability and rental-friendly policies make it a standout choice.
- Rental Market & Future Trends – The rental market in Memphis remains strong, with MHA offering rental rates higher than market averages. However, investors should watch for a potential plateau in rent growth as wages struggle to keep up with rising housing costs.
As real estate investors navigate shifting trends, it’s clear that Memphis remains a top destination for long-term stability and cash flow. The increasing migration to southern states is fueling demand for rental properties, and new construction is stepping in to meet that demand. With competitive pricing, high rental returns, and lower maintenance costs, newly built homes offer a smart alternative to traditional rehabs. While concerns about rising home values and rent growth remain, the Memphis market’s resilience makes it an attractive option for investors looking for sustainable, long-term gains.
About 5 O’Clock Somewhere Real Estate Investor Podcast
5 O’Clock Somewhere Real Estate Podcast throws out the script, brings common sense back to real estate, and has casual conversations about the one and only market that matters – Memphis!
Transcript for Real Estate Trends, New Construction & Memphis Market Insights
Brett
0:00:53 – All right, welcome back to another episode of 5 O’Clock Somewhere Real Estate Podcast. And the way we’re going, it’s almost 5 o’clock. So I want to talk today about the trends in real estate.
Brett
0:01:31 – I read an interesting article and two of the trends caught my eye. The first one was moving to southern states. Apparently, there’s a big exodus from up north and out west, and they’re moving to southern states like Tennessee, Georgia, Texas, Florida, because of the job opportunities. So the job opportunities are bringing people further south, which is a good thing. But on the flip side, that has created what we call a housing shortage, not enough housing for all these people that are coming in. A number of them are renters. Number two on that list was new construction. That there’s a housing shortage and that new construction is becoming a popular item again. Instead of buying an older home and rehabbing it, new construction is becoming popular. Which we are now involved in. We’re building brand new 4-2 rentals around Memphis. Jeff, you got how many?
Jeff
0:02:20 – Five right now.
Brett
0:02:22 – Five and Phil?
Jeff
0:02:23 – With Phil, eight.
Nick
0:02:24 – Yeah, we got three right now listed with Phil.
Brett
0:02:34 – And then I’ve got four with Terry. I just sold nine, and we’ve got a new Mario, your builder, he’s got five we listed? So we’ve got a number of 20 brand new construction homes that are on their way up now, and these are four or two rentals that are going to rent MHA. You can pick them up. What are Phil’s listed at?
Jeff
0:02:46 – 160? 165, 167.
Brett
0:02:48 – Mario’s 165, Terry’s 165. The unique thing is I know two of these builders are doing 165 with a $5,000 builder credit. All of them come with a one-year builder warranty and all of them will rent MHA for, what is it, $1,695 is the average?
Jeff
0:03:04 – About $1,700 average. $1,650 low end, $1,850.
Nick
0:03:09 – If they’ve got income and have a partial voucher, you can get up to $1,800 but typically on a full voucher, Amicia says you can get $1,600 all day long.
Jeff
0:03:15 – I got $1,950 for $185,000 4/2
Brett
0:03:22 – Okay, so we’ve got a trend that’s been happening and we’re seeing a lot in Memphis. I was unaware that this trend was happening around other parts of the South and different in other markets like Little Rock, certain parts of Texas, certain parts of Florida are seeing the same the same trend. And let’s face it, in the last couple years we’ve put up a lot of brand new homes in these neighborhoods. I think if I had to guess probably Terry and Phil have probably put up over 60 or 70. Mario’s probably put up about 20 or 30. Kenny’s getting his off the ground. He’s putting up a few now. That trend is going to keep going. So let’s talk about the new construction. I mean turnkey and new construction. The new construction homes are 4-2. They’re renting for $1,600, $1,695 a month, MHA guaranteed income. If they’re partial pay, it can go up to $1,800 and you can pay $165 for the house, get a $5,000 bill of credit, brand new home with a one-year bill of warranty, which means everything in that home is covered for the first year. Your maintenance is pretty much zero.
Jeff
0:04:19 – The way they’re building the houses are, I won’t say indestructible, but they’re very maintenance friendly. They’re tenant proof. We’re not putting carpet in the house. We’re nice decorative stained concrete slab that will cost you zero dollars for the entire life of that house. At worst every 20 years you go in there and put a clear coat sealer on it. That is light years less expensive than replacing carpet every time you turn that property to a new tenant. That is light-years less exepensive than replacing carpet every time you turn that property to a new tenant.
Marissa
0:04:49 – And personally for the tenant I mean concrete is easier to just sweep and call it a day. It is. It’s easier to clean it. Especially with kids and stains on carpet.
Jeff
0:04:58 – Indoor air quality goes up because you don’t have all the dust and must that comes with carpet. It’s just it’s a lot fresher and cleaner. Granite countertops in. Granted, it is literally indestructible.
Nick
0:05:16 – Some of them.
Jeff
0:05:17 – The thing about the new construction that I will point out is, for some investors, it’s a hard sell. But it’s an easy answer to their question. Why would I go pay $160,000 to $185,000 for a new house when I could get a perfectly good rehabbed house for $130, $140. I’m like, well, and some of those rehab guys will offer a one-year build. And that’s great. But at the end of the day, that rehab house is going to need work. Because not every rehab house is going to have a brand new roof on it. Not every rehab house is going to have brand new kitchen cabinets, brand new hot water heater, furnace, air conditioner. All that stuff is going to have to be replaced sooner than later on that $140,000 house. So you add all that extra…
Brett
0:06:13 – Not to mention the rehab didn’t have to go through electrical, plumbing, AKC, brain,
Jeff
0:06:18 – structure inspections from the city. So while there’s nothing wrong with a $140,000 rehabbed house, just bear in mind that the amount of money that you’re going to spend to maintain that is probably going to equal what you’re not maintaining on a hundred and eighty-five thousand dollars house. So paying on front end. So at the end of the at the yeah exactly so you’re not spending any more money you understand what I’m saying it’s an even wash. And it’s just less of a headache.
Marissa
0:06:45 – And some of these rehabs, so I have a FHA client or she can be conventional anyways, you know women we want the cute pretty aesthetic things and I have to remind her like hey it’s nice it looks nice but let’s keep in mind you could have something nice over some trash and not know what’s up under obviously until the inspection versus getting a brand new build you know everything is up to code you know it’s Like you said, you’re going to still be spending this money on the back end replacing these things and fixing them back up. Just spend the extra thousands on the front end and save back there.
Brett
0:07:26 – But hey, if you want to buy a Port-A-Potty, you can call us. We’ll help you find one, right? We will. We’re not beyond it. We prefer to put our investors in a little bit of a more stable performing asset.
Marissa
0:07:37 – It’d just be less of a hassle for the investor.
Jeff
0:07:40 – You’ve only got one rule about that port-a-potty though, as long as it’s not on a street named after a state.
Brett
0:07:47 – That’s right, as long as it’s not on Mississippi Street or Tennessee Street. Tennessee Street, Mississippi Boulevard, Kansas Street, Florida Street. It’s named after a state, you don’t want it. So the new construction, we prefer, at least I do, new construction turnkey rehabs because they’re just great, solid, safe investments. So Terry’s a builder, he’s also a rehabber, and he puts a one-year builder warranty on his rehab. So that’s a plus. If you’ll put a builder warranty on it, then you can get the same either way. I do have investors that buy fixer-uppers. Amisha’s bought four in the last year that he’s fixed up. And he’s in them at 80 cents on a dollar with 15% gross ROI starting out. They’re great investment opportunities, but it comes with pitfalls because now he’s in the process of trying to refinance them out of hard money. Well, guess what’s happened in the last year? It used to be worth 110. This year is worth 95. So his refinance is hitting him where he’s having to come out of pocket with about a grand to refinance one of them because values have dropped. And that’s something we cannot control. We can’t predict the future. We can’t say market values are going to tank next year, they’re going to go up next year. We can just kind of follow what the trends are. And in that case, Amish still has two good investments, but he’s coming out of pocket with some cash now because the market value dropped before he was able to refinance. So they all come with negatives and they all have positives. I think new construction and turnkey, if I was a 29-year-old guy just getting into investing for the first time, I’d go get a lender to approve me for a couple of hundred grand and I’d go buy a turnkey or a new construction home on your first couple of ones. Get ones that aren’t going to require lots of out of cash repairs and maintenance and constant issues. Get your feet wet, understand the market, and then dive off into these little projects that you find that you want to jump into.
Jeff
0:09:37 – Worst case scenario, a mish can sit on the property, he’s got a tenant in it, it’s a cash loan and he’s…
Brett
0:09:42 – Hard money though is eating him alive.
Jeff
0:09:44 – That bad right now for those three properties?
Brett
0:09:47 – Yeah, well, yeah, his notes are pretty steep on hard money. I mean, he’s paying 11.5%, so his goal was to refinance out at about 6.5 once he got the work completed, but the values have dropped, so now he can still refinance them out, but he’s got to come out of pocket with like eight eight grand of property. Well, it’s gonna wash out there. He’ll make it back Yeah, but my point is that in the rehab business if you’re using hard money, that is one of your caveats That’s one of your problems when your alligators is that the market shifts and you may buy it today saying it’s worth $130,000 I’m gonna put 30 grand into it borrow hard money And I’m gonna be all in at 130 when I’m done. I’m going to refinance it out. Well, wait, then all of a sudden the market shifted for two months and now that’s worth 135. Well, guess what? In order for you to refi your hard money, you’re going to be paying some of that off out of cash out of your own pocket or you’re going to be paying that high hard money loan for until it changes.
Marissa
0:10:43 – I really do agree with you on new investors starting with new builds. Turnkey too, but mainly new. Yeah, mainly new builds because like you said earlier, they’re not profiting that much. So when something does go wrong, it’s going to take months and months and months of you saving those few hundred bucks here and there, and you’re going to end up coming out of pocket.
Brett
0:11:04 – I encourage all new investors, if you don’t have experience in investing in single family residential rental properties, going with turnkey and new construction is the key because you can get into a safe, solid investment that’s cash flowing over one property, and you can get into a safe, solid investment that’s cash flowing over one property, and you can get into a safe, solid investment that’s cash flowing over one property, and you can get into a safe solid investment that’s cash flowing over 1% with a warranty on the work and you know you’ve got a few years before that oh it’s gonna hit you or you’re gonna have to come out of pocket and get this fixed or get that fixed but by then you’ve got you know three or four grand in reserve account built up or five grand your reserve account so you’re not really coming out of pocket you just take that rent money that you’ve been putting aside and pay for the repairs or pay for whatever you need the trick is at the end of day is that 20 years from now you pay the loan off and the house is worth $200,000 and you have a $200,000 asset paid for. And if you were smart and you multiply that times 10, guess what? You’ve got 10 homes worth $200,000. Now you’ve got $2 million, $3 million in assets paid for. That’s the trick. So let’s talk about the rent numbers a little bit because I get a lot of questions from people about that. I’m a fan of MHA for one reason, MHA always pays over market for rent. If a house, if a 3-2 in a neighborhood rents for $1,300, guarantee MHA is going to pay $1,450. So, that has caused a lot of investors to come to MHA, to migrate to MHA, and we’ve managed to link up with Amisha and a couple other people that do that. So, what do you think, Jeff, as far as the rent? What do you think is going to happen this next year? We saw a little bit of a dip because we didn’t have a lot of movers.
Jeff
0:12:27 – In our business, high rents are good, but my concern is how long are we going to be able to sustain that? You’d mentioned in a previous episode when you moved to Memphis 18, 19 years ago, you were renting for 550 a month. That same house today will cost you 1800 a month. There are a lot of good working-class blue-collar jobs in this city FedEx AutoZone, Amazon, Nike all that good stuff international paper, but I don’t see Salaries and wages going up to keep up with these rents and I know and I know MHA is you know, typically You’re five ten percent higher than what you could get from a from a private management company company but I mean $1,850 is a lot of money for rent and we’re telling our people that that’s going to go up $50 to $100 every year. I cannot see somebody working at FedEx driving a forklift for $22 an hour going from $1,800, granted some of its assisted rent to three years from now $2,200 a month and really that’s got to stop. You got a level out somewhere
Brett
0:13:43 – We’ll have it. We’ll have I think we’ll have a temporary plateau The the Memphis housing market a rental market is like a rubber band, right? we’ll see a big jump in values and Rents are still back here and then over the next four or five years that rubber band will snap and then the rents will catch up With the values and then we’ll go through another period where the values keep going up, rents kind of stagnate, and then all of a sudden it rubber bands and it catches up. We’ve been in a weird situation where MHA has repeatedly just raised rents year in and year out. And some of them, I mean, hell, there’s a house on Hanley that went for $1,900 a month MHA rental, four two.
Jeff
0:14:20 – I’m getting $1,950 a block over.
Brett
0:14:23 – Now, I think once we hit that $1,900, $2,000 range, you’re going to watch that stall. And then you’re going to find an investor who has a $160,000 house they purchased five years from now still renting for $1,600, $1,800 a month, but now all of a sudden it’s worth $200,000, $225,000. Then they sell it, but their problem is they’re going to have to sell it for either Unrock to make the equity out of it, or they’re going to sell it for $200,000 to produce 1% for the buyer. And you’ll watch those values go up, you’ll watch the market increase and the rents will stay back here and then all of a sudden it’ll just pow, it’ll pop and all of a sudden rents will start jumping again. But that rent jump always is accompanied with increased earnings, increased pay, increased hours. When the job market and the average pay goes up, then the market rents start to increase. When they’re down or they’re kind of level, rent stay level, but it never stops the growth of the property in value.
Jeff
0:15:17 – No, I understand that. It just seems like they’re getting a little bit out of hand. I don’t know if it was because of all this.
Brett
0:15:23 – Well, hell, 2009 when they raised my rent to $1,100, I’m like, you mean people are freaking insane.
Jeff
0:15:27 – Well, you know, the other thing is I’ll have a young investor start questioning the equitable value of the house because let’s face it, we’re not building these things in Germantown and Collierville we’re building them in what
Brett
0:15:40 – let me ask you something hold on let’s let’s pose this out there let’s say I buy a house today I spend $150,000 for it is rented for $1,600 a month and over the next 10 years my rent goes $1,700 a month I’m getting out of it but now I only have the bank $120,000 $115,000 another 10 years go by and I’m barely getting $1,900. I still only paid $150,000 for the house. I now only owe $80,000 for it. The investment is still solid. It’s still a great investment. The only time rents affect your rental income is if you’re buying today. That’s why the 1% is so important. If you start out at 1%, it’s only going to grow from there. Period.
Jeff
0:16:23 – I understand that, but I’m talking about… I want to just go off topic just for a second. I’m talking about the actual value of the houses. And I get it. These houses that you’re turn-keying right now for $130, $140, I was buying these things 30 years ago for $20,000.
Brett
0:16:42 – Just sounds like my grandpa, back in my day.
Jeff
0:16:45 – I was buying these things for twenty five thirty thousand dollars put in ten thousand dollars in them putting $10,000 in them, and retailing them for seventy five thousand dollars.
Brett
0:17:04 – Look, my house my dad bought when i was a kid he paid thirty i’m sorry paid eighteen thousand dollars for same neighborhood today the house is worth a hundred hundred dollars…
Jeff
0:17:08 – I understand what you’re saying but just hear me out.
Brett
0:17:09 – Did you know a movie was a nickel back in the day? you can buy a loaf of bread for two pennies?
Jeff
0:17:12 – Now hear me out. I get it, the houses have doubled in value over 30 years. But when I tell an investor that I’ve got a $185,000 brand new house in Orange Mound, and he drives through Orange Mound, now we look for opportunities that they don’t recognize. Every other house on the streets rehabbed, flipped, but the other half is still bad. Every neighborhood goes through a cycle. It goes through a growth cycle, a stable cycle, where it declines and deteriorates. Then the next generation comes in and starts what we’re doing all over again. The young investor’s concern is he just can’t see that $185,000 house being worth $300,000 in Orange Mound 30 years from now.
Brett
0:18:04 – I mean, we talked earlier about education and research. Anybody getting into this business, go back and look at the real estate research and document the documented data of real estate over the last 100 years. Well, my short, if you look at that, then it’s pretty easy to predict that yes, well, unless we get hit with a nuclear weapon and just flatten America.
Jeff
0:18:27 – My short, dumb answer to him is yes, I think that house in 30 years in Orange Mound of all places will be worth $300,000. But bear in mind, the $250,000 house that I built in 2009 will be a million two. So everything’s relative. As far as trends in real estate go, everything’s relative.
Brett
0:18:53 – But as an investor, when you buy, you pay $100,000 for a house and you have that house and you mortgage it and you rent it for $1,000 a month this year and then two years from now you’re at $1,200 and five years from now you’re at $1,300, $1,400. What difference does it make? Your cash flow and your equity is growing year in and year out and your debt service is shrinking. That is a perfect scenario for a great investment.
Jeff
0:19:19 – I’m going to tell you right now.
Brett
0:19:20 – If you look at it from that perspective and get away from this, I’m going to get one house and quit my day job, that’s smart investing right there. That’s how you invest smart.
Jeff
0:19:27 – I’m going to tell you and every especially new investor that’s listening to us right now, I’m not in it for the cash flow. I don’t care if I cash flow the property. I’m looking at the long-term equity. That’s all I care about. And that’s how it should be viewed. I’m cash flowing enough to build a reserve to cover my maintenance costs. That’s all I care about. I don’t care about taking $200 a month from 100 properties and going out and buying a 42-foot yacht. I’m interested in the equity that the house is worth.
Brett
0:20:03 – Now I’m disappointed, Jeff, because that’d be the one thing I would buy. That’d be the one dumb, dumb thing I would do. One thing I want to say…
Jeff
0:20:12 – But if I did that, the market would tank, and I’d lose my 100 properties and the yacht. So I’m not going to do that.
Brett
0:20:20 – Not as long as you hang on to them.
Jeff
0:20:22 – I invest in the bond market now. I don’t buy the high-risk stocks anymore like I used to. I’m a bond guy.
Marissa
0:20:29 – One thing I wanted to piggyback on off of Jeff, just a side note when you were saying like you know rent where’s the cap like where does it stop imagine the renters they aren’t going through MHA and they have to do a rental application and they want you to make three times the rent like yes you may be getting paid more and yes rental prices are going up more but are you really getting paid enough to accommodate the rental price? Is it going up that much?
Brett
0:20:57 – Yeah that’s been the ten million dollar question in politics for last 50 years.
Marissa
0:21:03 – I mean it’ll never probably be answered but you’re never always for work as much to cover what the rent prices are increasing.
Brett
0:21:09 – Well, I mean listen we’re not reinventing the wheel. We’re not discovering some rare metal that’s never been discovered before. We’re doing the same thing people have been doing for the last 100 years.
Jeff
0:21:23 – I mean, I think…
Brett
0:21:24 – We just happen to be in this business now.
Jeff
0:21:25 – I mean, I think we’re providing a great service. We’re putting people in affordable housing that otherwise couldn’t, you know, wouldn’t have anywhere to live. I mean, not everybody can afford to buy a house.
Marissa
0:21:36 – And nice houses.
Jeff
0:21:37 – In our business, you may consider your investor the most important person in your business, but I’m telling you, the most important person in our business is the tenant. Without the tenant, us and the investor are dead.
Brett
0:21:49 – So Jeff, why do you think Memphis is important as an investment location?
Jeff
0:21:53 – The reason why people from all over the country and the world seek Memphis as a rental investment is because it’s one of the most stable markets in the country. And I say that because when we dip, we dip 3 to 5 percent, we bounce back quicker than any parts of the nation. We’re not a buy a house in California for $50,000 and two days later it’s worth $6 million. We don’t have those kind of dips. You’re never going to buy a $50,000 property in Memphis, Tennessee and sell it for $200,000 a year later. That’s right. This is long-term stability income. 54% of the houses owned in this city are rented. That’s half of the 700,000 population. It’s a great blue-collar working class town. FedEx, Amazon, Nike.
Brett
0:22:36 – You name it. Any company in the world has got a distribution place.
Jeff
0:22:40 – We’re the distribution capital of the world because we’re centrally located. These aren’t high-paying jobs. These are good, stable jobs. People making $65,000, $70,000 a year. A lot of them can’t buy houses because they’ve got credit issues. That’s why they rent.
Brett
0:22:55 – But it doesn’t matter what happens tomorrow, even during COVID, FedEx, Nike, everyone, these companies have to keep operating. Those people kept up, got up every day and went to work. They were the one of the few people that kept their jobs, kept working, kept paying their rent and MHA kept paying rent through the COVID when a lot of the people were losing money.
Jeff
0:23:11 – Well, when the COVID was going on and landlords all over the country were screaming about I can’t get my rent, I can’t get my rent. And a lot of them lost that rent. Some of them got the government to help them out with it, but a lot of them lost that income. Memphis sustained the least amount of that loss because of all these jobs. It doesn’t matter what happens, they got to go on.
Brett
0:23:34 – So that does set Memphis as an unusual market.
Jeff
0:23:36 – That sets Memphis apart from everywhere else. You can’t do this in Nashville, Dallas, Austin, Raleigh, North Carolina. It doesn’t work. It may work in some other parts, but it doesn’t work in those areas. It works best here.
Marissa
0:23:48 – So my answer today is a lot of these investors are from out of town and I personally feel like Memphis is a little more on the cheaper budget compared to California, Florida. So, they’re mine. They’re like, well, I get paid X amount of money, which is a lot. Let me invest somewhere where the prices are already doable to where I’m making more profit than what I could if I was living in Cali and investing in Cali.
Brett
0:24:15 – Absolutely. Memphis, you can still buy a $120,000 house that rents for $1,213, $1,400 a month.
Jeff
0:24:21 – I’ve got clients, AutoZone executives that are transferring from California, they’re selling a 3,000 square foot house for $2.7 million. I’m taking these guys out to East Tennessee, they buy a 7,000 square foot house on 10 acres and pay $900,000 for it. Just cash. They’re dipping into their AutoZone stock and they’re just laughing all the way to the bank. They’re leaving with the steel. He told me my boss didn’t even need to give me a raise as soon as I moved to Memphis I got a raise.
Marissa
0:24:56 – They’re leaving with the steel. You get more space for a cheaper price, more rooms. I posted our listings, you know, the address, price, and…
Brett
0:25:09 – You got a showing on two of them today.
Marissa
0:25:11 – I posted a little snippet of the video and one of my Florida friends, because I’m a military brat I moved here from Pensacola. Pensacola is not a big city but it’s still in Florida and her comment said wow girl we cannot find these prices in Florida you know where we stay and I was like yeah you’re not going to.
Jeff
0:25:28 – What we do here we would fail in Florida.
Marissa
0:25:29 – Yeah and this is a brand new build for 165 K, three beds two baths. They’re not going to get a new build for $165k in Florida.
Jeff
0:25:30 – Memphis has some of the most moderate housing prices in the country.
Brett
0:25:46 – The moral of the story is Memphis is great because if you buy it, whatever you buy, you can rent it. We’ve got 340,000 renters out there, so you can easily rent your property for market or better. And if you’re using MHA, that’s even better because they’re going to pay more.
Marissa
0:25:59 – And if you’re an out-of-town investor, it’s even better for you.
Brett
0:26:03 – That’s right. All right, so let’s recap. There’s two ways to do this. Either A, you can listen to that clown in California and go buy 10 homes and quit your day job and hope that you’re going to be able to pay your bills. I’m telling you you’re not. You’re going to go bankrupt. Or you buy homes and you buy rental properties for long-term investing, for equity, increase cash flow, and eventually be able to cash them out and do whatever you want with that. Buy an apartment complex, retire, buy a boat, whatever you want. There’s two ways to do it. So hopefully you will reach out to us at 901-692-7401 or go to MyMemphisInvestmentProperties.com. Check out the properties we have and what’s available. If you have any questions, feel free to reach out to us. Again, 901-692-7401. Thanks for listening.