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[Music] [Music] all right [Music] [Music] we'll let you hear it before we dive into it that's for sure yeah if you're listening let us know if this is coming in clear or not we've had some a little bit of technical difficulty this morning sounded good back to normal okay or i don't even know that you have to do that we just dive right into this okay all right okay so take two we're uh we're back uh i hope you guys can hear now clearly if you can't for any reason let us know text us or you can message us right here on the facebook live thing so today we're going to do the part two of three we got one more episode next week of the investment zip code breakdown here in memphis and the surrounding areas last week we did frasier three one two seven three one two eight we moved over into the three bartlett zip codes uh three one three three three four and three five uh town uptown 107. we did that one last week so today uh we're going to get into arlington cordova germantown a lot of these we're going to breeze through pretty quick here because of their their flip areas not necessarily a buy and hold area so we'll go quickly but i'm going to give you some stats on these areas so arlington it's a suburb great school district uh residential area for the most part they had seven this is all these stats are year-to-date they had seven bank sales that average was 247 000 they had 480 total sales and that average was 313 so you had a little bit of a drop off on the bank sale so there's not really a buy and hold opportunity in arlington uh it's mainly going to be a flip area but uh if you can find a flip that you know it definitely will sell if you do it right so uh arlington great place for a flip opportunity and to raise your family just not necessarily for buy and hold uh we're moving to cordova so cordova's got two zip codes extremely popular uh buy and hold area um there are there's commerce for days there's every restaurant and everything you can think of wolf chase galleria mall is out that way so you'll have a whole lot of those opportunities for jobs and that's thing let me give you some stats there's two zip codes three eight zero one six is cordova north uh they had 18 bank sales a year to date that average sales price was 224 000 they had 432 total sales that average sales price was 214 so that was a little bit lower um three-bedroom two-bath houses for the most part two-car garage pretty much a cookie-cutter whole area a lot of them are yeah a lot of them are um houses built 2000 or i guess is it later you know 2000 or later um and the big boom was the new construction boom of 2001 to 2007 or 8 when the market kind of crashed so a lot of opportunities in 2009 10 and 11 out there for sure but now the hedge funds have bought up the majority of the rental properties out there you still have those opportunities but um you got to jump on them pretty quick so that's cordova north cordova south is 38018 um bank sales there are 10. average sales price is 191 000 year-to-date and there's 411 total sales so there's really not it's about even 432 total in cordova north 411 total in quarter of a south that average sales price is 216 000. so those 200 000 houses can typically rent for 2 grand but that's about the cap if you get to 220 and 230 and 240 you're not going to be able to get the one percent rule out there um you guys own anything out in cordoba you don't have anything out there a couple not much yeah just never has been the numbers for us for y'all yeah and it's really not even for me but if you like that one percent rule you want some appreciation of state it's a total they love it i think it's a great place yeah just i think the locals just have not chosen that as an area to invest most of the time so it's the locals i mean the out of state and it's the hedge funds yeah hedge funds own thousands in there and we've talked about that before but thousands like a ton yeah a ton of houses so um which thing is safe which they drove for those out-of-state investors know hedge funds drove up the rents for sure you know what i mean for sure because they have numbers they have to hit for their analysts and their securities and all that stuff and the tenant pool is a lot better quality so you can get some of that higher rent out there especially because of all the shops and the restaurants and all the stuff that's out there it's easy to get that higher rent so cordova is a solid kind of one percent market if you can find those there quickly go through eads 38028 absolutely no bank sales this year total of 31 sales for an average of 620 000. if you find anything to flip out there great but you're not gonna find anything to rent and keep and hold that makes any sense um like i said we're breezing through some of these so i just wanna make sure i'm gonna bounce back up north millington that's one area that we haven't covered um this is three eight zero five three millington is an attractive place i like millington to me for rentals i totally agree the military base for one drives a lot of that um it's north of memphis so you're getting out of the city out of the city you're not even quite into the is part of millington in tipton county it's all in shelby county um so you're still in shelby county but you don't have city taxes you got some millington taxes but you can find some good numbers here let me give you the stats out there eight bank sales uh for an average price of ninety three thousand and then total sales out there have been 158 year-to-date with the average sales price of 150 000. so blue-collar uh middle class um i don't think they're newer homes these are gonna be a little bit older you know built in the 80s and the 90s i don't think there's been a whole lot of brand new development up there not that i'm aware of anyway it reminds me a little bit of cordovo and you guys do own a court in millington correct yeah yeah quite a few good portfolio up there yeah yeah so millington is solid i think you can get some one percent you can probably even get a little bit better uh uh numbers up here so we like millington we manage up there so uh we're we're big uh big millions and fans yeah you're gonna see rents you know 700 plus probably up there so dr right where we want him to be seven eight hundred nine hundred dollar you know and up yeah so um uh yeah i mean got it's got commerce that highway is it 51. yeah 51 goes through all the way through there so there's a lot of commerce a lot of businesses military base all that stuff so i think i mean if i was going to pick one of the areas i'd pick one of those to like yeah in my search criteria i had to keep that as a absolutely top of the list yeah if you can find something in millington to buy and hold it's a solid little market okay let's go back down kind of geographically to um back a little south of cordova which is germantown so i went to high school in germantown this is a a little bit older area but it it's higher end you can still find i i do get the occasional investor that wants to go to germantown and buy a home that will appreciate and he can get some decent rent older homes you know built in the 70s um 80s and then basically kind of stopped i mean there's not just they run out of room there's no more actually land in germantown but if they do now it's 700 800 000 so let me give you some stats on germantown there's two zip codes there too uh 38138 they had four bank sales average sales price was 217. they've had 250 sales to date average sales price 334. so a little bit higher in uh very similar to arlington and places like that just the homes are a little bit older uh germantown east which is three eight one three nine two bank sales this year wow yeah those average 494 and then the total in three eight one three nine is 162 with average sales price of 515 000. so you're very limited in 38139 from a buy and hold standpoint you're going to want to have to be in the 3138 the older part of germantown in order that's over by mcvay park avenue and mcvay area you can find some stuff over over there but mainly a buy and flip area um that that you can you can go to out there good good i mean solid schools people you know this is good yeah the flip is where it's where it's really at for that in that air market i mean because people like germantown but they don't like those seven 1970s homes correct so if you can go in and rehab them or renovate them and get damaged speed granite and nail down floors and all that stuff it'll sell just like that i agree uh okay breezing through these a little bit today these last two are good uh good solid zip codes three eight one four one and three one two five so three one two five i'll start with first because it is directly below germantown this is southeast shelby county um 385 uh that was built man when was 385 built do you remember when it started 20 years ago man it was i graduated in 96 and it was there then was it yeah 90 maybe 91 92 they started that construction but that really helped the development of three eight one four one and three eight one two five and essentially the access to carrier bill uh three one two five stats uh year-to-date 27 bank sales average sales price is 172 000. total number of sales is 237 average sales price 209. so i i got my uh real estate career started in 38125. there's a subdivision of their buckingham farms that i bet i sold 250 houses in the corner of shelby drive and uh hacks no yes hacks cross and shelby drive that's the corner a ton of new construction houses over there in the mid 90s or mid 2000s too so um [Music] brick homes 2500 square feet 22 2500 square feet three to four bedrooms uh you can definitely find some investment opportunities a lot of build rent happened there years right that's the higher end bill to rent where it's because no city taxes that's where the numbers were yeah so see you can avoid 2 500 3 000 a month a year that's the return that's the return so and and i don't think it's going to be an annex thing they've they've got it reserved it's called unincorporated memphis but um it's been like that for 20 25 years so i don't see i say that and watch next month they'll they'll come out with something another recording three one two five though you can definitely find some good bond hold rentals out there um again three bedroom two bath at least brick homes two car garages solid rental area uh last one today that we're gonna cover is three one four one um this is hickory hill uh very similar to three one two five it's just west of three one two five uh ten bank sales average sales price of 140 000 uh 187 total sales with an average sales price of 120 000. so thoughts on hickory hill what do you guys have anything over there you know it's so funny um our mentor used to be a courthouse step guy and like we bought tons in this area back 08 9 10 11 12. yeah and we just pay him you know assignment fee of three four thousand bucks and just load those things up and thankfully we have those now you know because that was that was a great um you've probably got a ton of equity in those houses too yes yeah would you get them for 60 grand no 45.50 you said no like i thought you were gonna be like no 90 100. no 45 50 000 yeah that are three bedroom two bath now there's not a whole lot of two-car garages over there mm-hmm just concrete carport or concrete pads so you're not getting a whole lot of garages but i mean memphis invest has transformed that whole area as well yeah you know are one of our you know turnkey providers in town and yeah you know they sell them you know the one percent rule or less so people buy it people buy it all day long i mean it's just a good i mean if you look at that you know reigns and uh it's on the t it goes all the way to the mississippi border kirby so think about all the jobs are right there at that warehouse distribution huge along shelby drive nikes of the world amazons all that stuff it's got easy access to 78 which will take you south it's got easy access to 385 which will get you in any other interstate um huge logistical area for jobs blue collar area i do like it because often times you'll get dual income yeah so if somebody you know mom or dad loses their job or whatever then you can the rent can still be paid so it's a it's a bonus kind of area i think um so 3141 is is a solid rental pocket if you can find some uh find some good numbers over there so overall today is a little boring uh just because this is this is not our juicy zip codes next word for rentals next week we'll have we're gonna go through three eight one one eight three eight one one six one one five three eight one one five three eight one o nine uh we'll even talk a little bit about three one one seven colonial acres area uh and we'll get into the kind of heart of the city we'll talk about downtown a little bit and some of the stuff that you can find so today unfortunately was not nearly as glamorous from a buy and hold standpoint but i did want to go over these numbers and i did want to give other listeners and our investors just some idea of what's out there um from a flip opportunity and then if you can find something to buy and hold in these areas it's always good yeah i agree okay hey uh sorry for the uh inconvenience at first on the on the static but i hope this came through pretty good if you guys have any questions about what we talked about today you can email me dean crushcourt.com dan at dan cresscorps.com we're happy to answer any of the questions that you've got i look forward to seeing you next week on part three of three to wrap up our 2020 zip code breakdown sounds great all right thanks dan thanks guys