Next Rental Property

We just bought our next rental property!  This one is a little different because it is in Memphis Tennessee!

We are very happy with our properties in Florida but the market there was heating up and our realtor said it was a difficult time to find good investments, in addition to that our property insurance company caps us at four homes insured in the state of Florida. If our insurance company thinks we should diversity to lower our risk then I thought it would be wise to start looking at other states as well.  I believe in the long run this will have the benefit of diversifying our portfolio and our tenant mix.  After researching and speaking to multiple companies we have found two companies that we felt confident in and comfortable with to expand our real estate investment portfolio into other states.    

This rental is a simple 3 bedroom 1 bathroom home in east Memphis.  We have tenants set to move in at the end of the month and hopefully this will be a nice little cash flow machine for us for years to come.  

In June we are going to add another property to our portfolio - this time we are looking at some duplexes in Philadelphia.  Our family's goal is to own 20 rental units by the time Dan retires from the Air Force.  

If you are interested in investing with us I have made up a business plan detailing our current investments and our plan moving forward which I can email to you.

If you are interested in learning more about real estate in general I have been writing real estate articles for Listen Money Matters talking about our journey into real estate and I am active on Bigger Pockets.