Investing in Memphis rental properties may be your ticket to financial freedom.
With the uncertainty in Wall Street and the overall economy, a lot of people want to know where to safely invest their money. I started investing in real estate more than 30 years ago, and I continue to do so to this day.
I purchase rental properties in down markets as well as hot seller’s markets. The main thing to remember about investing in rental property is that it’s not a get-rich-quick scheme. It is a long-term wealth development program. You will have your ups and downs, and there will be years when the repairs may be more than the entire rent that you collect for the year. However, in the long run, you can change your lifestyle beyond your imagination. I encourage everyone—from my clients to my own children—to invest in real estate.
Recently, I was asked if rentals were the right way to go since home values have jumped up over 15% in the last year. I referenced to my friend a recent news article that showed how the average monthly rental amounts have increased by 30% in Memphis during the same time frame. It just shows how much investing in the Memphis market is such a great idea.
The local rental market is strong, and I expect it to be so for years to come. With a low interest rate, it only makes rentals even more attractive. Imagine if you picked up enough rentals to replace your employment income! Now that is freedom.
If you are considering taking the plunge, let me know. I’ve been around this rodeo for many years; I can help you locate an excellent property or more to help you get your financial goals set. Call or email me; I’m always happy to help!