Memphis remains one of the top US markets for real estate investors
Frank Lanigan/Daily Memphian
"The city landed in the fifth spot for investment home flipping behind Tampa, Miami, Birmingham and St. Louis, according to a recent report from Realtor.com that ranked U.S. markets. The report cited both older, lower-priced homes and a strong rental market as beacons for investors."
“The city has been part of a broader, national trend over the past decade of urban revitalization,” Ratiu said. “Not only have downtown cores seen a renaissance, but so have the suburbs, through an increase in mixed-use developments, providing live-work-play options to younger professionals and families alike.”
Large investments in the city core such as the One Beale or Union Row mixed-use projects are excellent signals to smaller real estate investors, says Brad Reedy of Reedy and Co., a property management group in Memphis.
“If guys like that are willing to take on a $200 million project, then someone on the fence might make a move," Reedy said. "They see someone taking all this risk with massive multifamily projects, and now their own four-plex or eight-plex seems worth the risk.”
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