Why Real Estate Investors are Flocking to Memphis
What comes to mind when you think of Memphis, Tennessee? Elvis? Graceland? Beale Street? B.B. King? What about real estate investing? While you may not think of Memphis as a thriving real estate investment location, the city offers plenty of reasons to invest, from affordable home values to a thriving community with plenty of attractions, restaurants, and shopping centers to draw renters.
Why Is Memphis Popular Among Real Estate Investors?
While Memphis has plenty to offer in the way of culture, arts, food, and entertainment, the reality is that the city’s biggest draw is its affordable home values. More and more investors seeking a stable pool of renters and plenty of investment opportunities are looking to purchase turnkey investment properties and fixer uppers throughout the city and surrounding areas.
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Development Draws Jobs and People
One of the biggest reasons Memphis has become a real estate investment hub is the sheer amount of revitalization taking place throughout the city’s most populated areas. The city of Memphis and the surrounding areas have undergone a significant amount of renovations and several new developments have created jobs and expanded the list of reasons why Memphis is a great place to raise a family or thrive as a young professional.
Downtown Memphis Development
From cosmetic upgrades to older developments to the care and preservation of historic buildings, downtown Memphis has become known as one of the most aesthetically pleasing areas of the city over the last decade. New developments such as stylish lofts, office spaces, and even a revamp of the Memphis Farmers Market have all drawn more renters to the city and its suburbs. An artsy, eclectic scene has emerged, while families and single adults alike can appreciate the thriving music scene, entertainment venues, sporting arenas, and more.
Midtown Memphis Development
Midtown Memphis has long been popular among young professionals and artistic crowds, but affordable home values and plenty of amenities are also a draw for families and investors looking for proximity to some of the most unique attractions in the area. The new Crosstown Concourse which features residential and commercial spaces, including an art gallery, coffee shop, and more, as well as the addition of several distilleries and tap rooms throughout the area have drawn more young adults and families looking for great deals on rental homes with close proximity to offices and schools.
Memphis and MidSouth Area Development
Memphis suburbs have seen just as many development projects in the last few years as the city itself. As more and more renters and homeowners move out of the city and into the suburbs, which include great public and private schools, less traffic, and quiet neighborhoods, the opportunities for real estate investing continue to grow. Investors seeking turnkey properties with little to no maintenance and upkeep required have found Cordova, Tennessee and DeSoto County, Mississippi real estate investment properties to be an excellent option.
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Why Live in Memphis?
In addition to affordable home values, Memphis offers a unique selection of local and national restaurants, shopping centers, attractions, and more. From family-friendly entertainment to a thriving music scene and abundance of distilleries, there’s something for everyone in Memphis.
Families in Memphis have an abundance of outdoor attractions to enjoy, including Shelby Farms, a 4,500-acre urban park featuring lakes and hiking trails, the award-winning Memphis Zoo that is set on 76 acres in the heart of Midtown Memphis, and 1.8 miles of historic music venues on Beale Street. Residents and visitors also enjoy Graceland, Sun Studio (the birthplace of rock’n’roll music), the National Civil Rights Museum, the Stax Museum, and more.
From casual chain restaurants to award-winning local cuisine, Memphis is certainly not lacking in the number of restaurants offering delicious menu options. Memphis-style barbecue and Southern home-cooking mesh with a surprising number of vegan and vegetarian offerings along with an abundance of authentic Asian, Middle Eastern, Mediterranean, and Mexican restaurants.
Whether you’re a fan of outlet malls or high-end fashion, Memphis most likely has all of your favorite brands. From the beloved IKEA to Nordstrom Rack, H&M, Tanger Outlets, Anthropologie, Urban Outfitters, and even a Trader Joe’s, Memphis offers a variety of both international vendors and local boutiques.
No city has more musical history than Memphis, and music lovers won’t have trouble finding a variety of locations with live and local music each and every weekend at local bars and restaurants as well as at the Levitt Shell, the Mud Island Ampitheater, Minglewood Hall, and more. Lovers of the arts can also enjoy performances and productions at Opera Memphis, Playhouse on the Square, and the historic Orpheum Theatre.
Real Estate Investment Properties in Memphis
If you’re considering real estate investment properties in Memphis or the Mid-South, Memphis Cashflow can help find the right property at the right price. View our current properties available.
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