When looking at any investment you need to make sure you have done all the research needed to give you the assurance to make that final pitch into the investment world, after all you worked hard for this money.
A good starting point when looking at Property Investment is to investigate the prospective in specific areas, below are a few factors to take into consideration, of particular note is the support from the government not only to the city of Memphis but also to the rental system known as Section Eight.
Memphis is the 17th largest city in the USA and is home to 1.2M people. Due to the existing economic downturn, mortgage lenders are repossessing thousands of homes per month across America. Tennessee ranks 9th on the national list of foreclosures with 1 in 49 homes in foreclosure. This has led to a deficit of affordable housing and large numbers of families needing inexpensive good quality homes, therefore it’s creating the perfect opportunity to take advantage of Memphis Real Estate investment.
Memphis is Home for huge Businesses
Memphis is home of several Fortune 500 companies such as AutoZone, FedEx, Thomas & Betts, ServiceMaster, Medtronic & International Paper. FedEx’s World Headquarters alone employs 30,000 people. Memphis is well-known as ‘Americas Distribution Centre’ with further than 600 trucking companies and the Worlds’ biggest cargo airport.
Property prices have bottomed out. There has hardly ever been a better time to purchase in the USA. In relative terms prices are most likely cheaper than at any time since the great depression of the 30s. Yet, according to the Urban Land Institute’s presentation of Emerging Trends for Real Estate in 2009, Memphis is now well positioned to see steady and consistent growth over the medium to long term.
Huge Government Backed Rental Demand
More home foreclosures, fewer home buyers and tough mortgage lending criteria means that rental demand is radically increasing in Tennessee. The Metro Memphis area is home to 1.2 Million people, with 45% of the population renting. In addition to private tenants there is also a huge number of tenants approved with the Department of Housing and Urban Development for the subsidized rental program known as Section Eight. Due to the lack of suitable homes there is currently a six to nine month waiting list of tenants for the program.
(Hand Free) Property Management
Our recommended Property Management Company offers investors a totally hassle free service. Their proactive property management method really helps make investments made thousands of miles away seem like next door. Every investor will be given a distinctive username and password so you can log on at anytime to see information on your home, such as when the rental was paid or when your property was last inspected.
Tenants who will look after your property
The Department of Housing and Urban Development (HUD) is responsible for managing the government’s subsidized rental program and they operate a zero tolerance policy. This means that if a tenant is evicted from their home for any motive they automatically lose privilege to the program in the future in any US state. Tenants are then responsible for the general welfare of their home and this system ensures that they take care of the property and take care of it as if it were their own. Genuine Exit Strategies.
Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses over 8 years of experience in real estate investing and property management in the Memphis and Nashville markets… Learn More…… www.memphisbuyandhold.com