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Economics look good for Memphis real estate investing

By
Services for Real Estate Pros with Memphis Invest, GP

Many economic experts have pegged Memphis to play a major roll in the economic recovery of the country.  Real estate investing experts are expecting that to be rue as well.  As the economic news for Memphis gets better, the appetite for Memphis investment property from investors around the country grows as well.  Recent announcements from some big companies and the prospect of Memphis adding thousands of jobs in the very near future have piqued the interest of real estate investors.

"Memphis is not only a great location geographically for companies Memphis real estate investinglooking to relocate, but there are so many communities around the city with affordable housing options from owning to renting" says Brian Rowan, a local airline Captain with Jet Blue Airlines and a Memphis real estate investor.  "Knowing that more companies are looking at Memphis as a good option to build new warehouses and manufacturing plants makes me want to continue to build my portfolio".

Recent announcements from Electrolux and Mitsubishi that promise to add over 1 million square feet of manufacturing space and 3,000 plus jobs were greeted with cheers.  On Saturday February 26th, the Great American Steamboat company announced that Memphis is a finalist to land the new operation headquarters for the company on the Mississippi river.  That headquarters will bring between 250 and 500 new jobs to the Memphis area.

I stay on top of what is happening in Memphis, but I let the team of experts at Memphis Invest direct me where to go" says Brian Douglas an investor with MemphisInvest.com.  "I know why I like Memphis and the recent news is great, but I let them do the dirty work of finding the deals and turning them into cash flow properties".

But manufacturing are not the only jobs that are being brought to the Memphis area.  Memphis is also quickly becoming one of the premier areas for Bio-Medical research with the Memphis Bio-works Foundation spearheading the drive to highlight and grow this burgeoning field.  Memphis is expected to add 10,000 jobs in the Bio-Medical field in the next 6 years.

"As an investor I am watching for trends not only in the pricing of houses and rental rates, but also in the employment figures and especially the medical fields which tend to be higher paid jobs and will definitely increase the value of the properties I am buying" stated James Fields, a professional real estate investor and hospital administrator from California. 

Memphis investment real estate news

Watching these trends and keeping investors abreast of the changes is what MemphisInvest.com is tasked to do as part of the Customer Service process put in place for investors.  Helping investors make smart decisions and build cash flow portfolios is made easier with news like this.  If you would like to get emails once a month with all of the recent economic news you can registerwith the above button.  We will only send you news on the trends effecting Memphis real estate and Memphis real estate inestors portfolios.

 

Posted by

Chris D. Clothier
Co-Owner, Director of Sales & Marketing
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Comments (5)

Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Chris, Memphis certainly is getting their share of new industries. I am hoping satellite companies will chose Dyersburg as their new home since we too are centrally located and not far from Memphis. I really believe we are poised to grow like Jackson did a few years ago.

Feb 26, 2011 11:18 AM
Chris Clothier
Memphis Invest, GP - Memphis, TN

Mike, Dyersburg should certainly see benefit from Memphis growing as a regional location for manufacturers to expand.  Cities like Dyersburg should certainly see some of the auxillary growth as suppliers and off-shoot companies expand as well.

Feb 27, 2011 03:21 AM
David Saks
Memphis, TN
Broker / Industry Analyst

3000 jobs pale in comparison to 250,000 jobless in Shelby County, or more. Recovery is off the scope and far from view for millions. Soaring fuel costs will continue to slam the cost of manufacturing and transportation into the dirt, quickly depleting revenue, which will in turn drive up the cost of living standards locally and nationally creating addtional, numerous, burdensome, massive default scenarios, both residential and commercial. Case-Shiller suggests the opposite as well. The "thinking locally" fad is out because of an unstable national economy in addition to nationally failed lending policies, which includes devastating and relentless corruption in the financial markets between 2000 and 2008.

Feb 27, 2011 06:46 PM
Chris Clothier
Memphis Invest, GP - Memphis, TN

David -

 

Thank you for your comments, but i wanted to point out a couple of factual errors in your reply.  Shelby County is home to approximately 920,000 residents as of the most recent 2009 estimate and as of February 2010 is reporting an unemployment rate of 9.4%.  That is an improvement over the same period last year when the unemployment rate was 10.6%.

That would put close to 86,000 on the unemployment roles as of February and we all know those numbers are only estimates and can be off a little.

The positive news for Memphis is that industries ARE moving here and creating jobs.  There are expected to be over 10,000 jobs created in Memphis over the next 5 years in the Bio-Medical and Bio-Technology fields alone.  There are many locals around the county who are desperate for these types of jobs. 

Electrolux in particular cited Memphis' central location, huge eager and skilled work force and proximity to suppliers as major reasons for moving their North American plant to the Bluff city.  I would also remind you that if you want to change the economy on a national level you have to start on a local level.

Feb 28, 2011 01:28 AM
David Saks
Memphis, TN
Broker / Industry Analyst
Agreed, Chris. It begins at home.
Feb 28, 2011 12:21 PM