Walter Jones BEST Real Estate
Cities and Towns: Des Moines, Urbandale, Johnston, Ankeny, Altoona, Polk City, Ames, Waukee, Clive, West Des Moines, Indianola, Marshalltown, Pleasant Hill, Memphis, Bartlett, Germantown, Collierville, Cordova
Licensed Since: 2007 | TN License # 358322
About Walter Jones
I am an investor and agent in the Memphis area. In 2018, I bought a 4-plex and lived in it for 2 years, and purchased another duplex in 2018. I added another duplex in 2019, a single family property in 2020, and another one in 2021. In 2022, I purchased 2 more single family homes, and another duplex, for a total of 7 properties with 13 doors.
I really enjoy working with investors looking to grow their portfolio, as well as newbies. I don't mind advising a client to pass on a property that doesn't fit their needs. When working with a client, I like doing detailed videos of the homes as well as neighborhoods, and making them feel like they know the area and property well.
I am well connected with local property management companies, title companies well versed in remote closings, and maintenance/repair professionals.
To learn more about Walter, listen to his interview on The Rental Income Podcast:
His Rental Income Helped Him Survive Getting Laid Off With Walter Jones (Ep 407)
Memphis is a great market for cash flow! It's been affordable for many years, and even with some pandemic price increases, rents rose along with prices, and remains very affordable. Memphis is home to FedEx and the world's largest commercial airport, and the 4th largest railroad hub in the US. It is an important transportation and distribution area. The economy is stable and strong. It was rated number 4 for Millennial relocation due to its affordability, and consistently ranks well in recommended places to invest in real estate.
Investment Price Points
Memphis is still an area that can still hit the 1% rule for investments, depending on the price point and area. (1% rule - A 100,000.00 property should bring 1000.00 per month in rent) One great niche for investors is buying a tenant occupied property that is under-rented, in the 90K-150K price range. Nicer and newer properties will still cash flow in the Memphis area, but you'll be giving up some cash flow for a nicer property, with potentially higher depreciation and higher quality tenant.
Free Report: Demographic and Housing Data on the Memphis Market
Would you like free demographic and housing data on the Memphis Market? The report includes information on schools, income, employment, crime, average sale prices, fair market rents and more. You can get reports on the whole market or zero in on a specific zip code.
This report has all the info you need to help you decide if the Memphis Market is right for you! Click here to get your free report.