A major city where half of the population is renting is quite the investor?s dream. Possessing a lot of properties on a location like that can provide you a huge opportunity for profit. Acquiring money to invest in your other ventures is only attainable if you?re financially free by having a dependable passive income from a steady cash flow. But then again, is there such a city or location that exists right even after the housing bubble burst and the economic downturn? There must be at least one, somewhere here in America because it is, after all, an expansive country. The place I'm talking about is the city of Memphis in Tennessee.
Memphis is the 17th biggest city in America. Its greater metropolitan area has at least 1.3 million people while the remaining Memphis population is at 600,000 according to the last census.. Whether you may be flipping houses for buying, holding, and reselling; or leasing a real estate property out, you can?t go wrong if you choose Memphis.
By far, it is home to the largest and busiest cargo hub in the United States, FedEx?s ?Superhub? which provides jobs for 30,000 employees aside from the fact that three fortune 500 companies are established there (which includes FedEx).
Its one of a kind location makes Memphis one of the only four cities in the United States in which the new I-69 Interstate (Mexico to Canada) passes thru. The biggest volume of trucking services in all of the US is also found here due to its advantageous location. What's more, its railroad hub is the third largest in the country even Warren Buffett himself can?t help but his put money into it. Certainly Memphis? economy and progress is moving forward which brings us to the question, ?What could it possibly be like to invest in property in Memphis?
The real estate investing scenario in Memphis is alive and kicking -even after the economic decline. It?s inexpensive to rent than to buy a house in Memphis and this shows in the high percentage of renters (46% in the city, 28% in the National average) in the area. Even with the higher rental rates in comparison with actual property prices, the apartment occupancy is up to 92%. Retirement in Memphis is also excellent with the low-cost of living and low property taxes.
The business magazine, Business 2.0 placed Memphis in its top 10 choices for places to invest, thanks to all these great factors.Memphis is an excellent setting for all real estate investors who are keen to earn money through real estate investment to develop a guaranteed cash flow, even for those who are into cheap and affordable living costs, the Graceland, and barbeques (Yummy!)
About the Author:
Dani is a real estate blogger and finance expert from Los Angeles, California. She is the PR manager of cashflowsavvy.com, a memphis investment property company operating in Memphis, TN but based in Los Angeles, CA.
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