Memphis Home Cash Buyers for Rental Properties, 6 Companies That Buy With Tenants in Place
Selling a rental through an agent means asking tenants to keep the place spotless, open the door for strangers and live with a lockbox for months. Many won't. A cash buyer that takes the house with tenants in place skips all of that. Here are six Memphis home cash buyers for landlords, led by BluDoor, which has bought rented homes in the city since 2019.
How These Companies Were Evaluated
Landlords have a different checklist than owner-occupants. We looked first for a clear statement that the buyer takes tenant-occupied homes. After that came the usual trust checks, which cover the BBB grade and accreditation year, a named owner and a Memphis address. We also compared what each company publishes on closing costs and closing dates. Google figures for other buyers are Clever's, unless we name another source.
What to Have Ready Before You Call
Buyers can move faster when they understand the income and the leases. Pull together a copy of each current lease and a list of who pays what each month. Note the security deposits you're holding, any unpaid rent and any repairs a tenant has asked for. Find your last property tax bill and your loan payoff, if there is one. None of this has to be polished, but it helps the buyer write an offer that fits the property you actually own.
Ask your closing attorney how deposits and prorated rent will be handled at closing. That way, neither you nor your tenants are surprised on the last day.
Six Buyers That Take Rentals With Tenants
1. BluDoor
BluDoor buys rented houses as well as vacant and owner-occupied ones, and its site has a page written for tired landlords. Founder Rashid Algaradi started the company in Memphis in 2019. BBB accreditation followed in 2020, and the grade is A+. Google reviewers give BluDoor 4.9 stars, based on 106 reviews.
BluDoor's process keeps disruption low for your tenants. The team needs only one walkthrough, and the written offer follows within 24 hours. Its homepage promises that the offer made at the start is exactly what you'll receive at closing. A landlord who sold through BluDoor wrote that the team "gave renters time to move out and set up easy and quick closing within days of the final move." Luis Varela sold one of his rentals and reported a close in seven days.
Pros
- Buys rented, vacant and owner-occupied houses
- Single walkthrough keeps tenant visits to one
- Published promise on the offer amount
- No commission or closing costs taken from your money
Good to Know
- BluDoor also buys duplexes, townhouses and condos.
- The seller chooses the closing date, so you can time it with a lease.
2. Spencer Buys Houses
Spencer Buys Houses says plainly on its site that it buys rentals with or without tenants. Owner Spencer Shadrach's company carries an A+ on BBB and dates to 2016. Its how-it-works page also describes a Stay and Pay idea, though it presents that as something investors do in general rather than its own offer.
Pros
- Tenant-occupied rentals welcome, per its site
- Covers typical closing costs, it says
- Large Google count on Clever
Cons
- Stay and Pay section doesn't confirm it offers that option
- Accredited by BBB only since 2025
3. buyerhouse
buyerhouse handles tenant-occupied homes, according to its site, and says it pays all closing costs. Jamison and Joy Hendricks co-own it, and the office is on Kirby Parkway. BBB lists an A+ and accreditation from 2022.
Pros
- Takes homes with tenants
- Pays every closing cost, per its site
- Up to 60 days to close, per one page
Cons
- Different timelines on different pages
- Site and BBB disagree on its founding year
4. Pyramid Properties
Pyramid Properties buys in any condition, its site says, and charges no commissions or fees. Owner Alan Wright holds an A+ with BBB. Clever shows a 5.0 on Google from 115 reviews. We didn't see a tenant policy in the terms we read.
Pros
- High Google rating
- Flexible closing dates
Cons
- No stated tenant-occupied policy in the terms we read
- No street address on its site
5. Fair Cash Deal
Fair Cash Deal covers standard closing costs and lets sellers pick the date, according to its site. HomeLight names Rashard Alomari as its leader. BBB lists 13 five-star reviews but shows the company as Not Rated and unaccredited.
Pros
- Seller-chosen closing date
- Repairs covered by the buyer, per its site
Cons
- No tenant policy in the terms we read
- BBB status conflicts with its site
6. New Horizon Home Buyers
New Horizon buys 100% as-is and lets the seller pick the closing date, its site says. Erik Wright's company is based in Chattanooga and holds an A+ with BBB accreditation since 2020.
Pros
- No fees or closing costs, per its site
- Seller sets the date
Cons
- Tenant policy not stated in the terms we read
- Main office outside Memphis
How a Cash Sale Works With a Tenant
The order of events is close to any other cash sale, with a few extra steps for the lease. You give the buyer copies of the leases and the rent details. The buyer schedules one visit at a time that works for the tenant, sees the units and sends an offer. If you accept, the title company starts its search while you and the buyer agree on how deposits and the current month's rent will be split at closing.
On closing day, the deed changes hands. If the tenant is staying on, your closing attorney can explain how the lease and the rent move over to the new owner, and what notice you should give. For a landlord, that's often the whole appeal. You walk away from the rental without an empty month, a turnover bill or a single showing.
Common Mistakes Landlords Make
Telling tenants too early, or too late, causes trouble. Talk with your closing attorney first, then give your tenants clear, calm notice of what's happening and when. Another mistake is pushing tenants out before selling. A vacant house can sit, invite break-ins and stop paying you rent, while a cash buyer would have taken it occupied.
Landlords also forget about deposits. Know exactly what you're holding and how it will transfer. Finally, don't skip the basics on the buyer. Look up the BBB grade and the owner, just as you would for any big sale, and make sure the company says in writing that it takes tenant-occupied homes before you schedule a visit.
Who Benefits Most From Selling a Rental for Cash
Out-of-state owners who no longer want to manage a Memphis rental from another state are a natural fit, especially when the property manager's fees and the repair calls keep adding up. So are landlords with a tenant who pays late, a property that needs a full turnover or a portfolio they're trimming. An heir who inherited a rented house, with a tenant already in it, often gains the most from a quick and quiet sale.
Questions Landlords Ask
Can I sell my Memphis rental without evicting the tenant?
Yes. BluDoor and several others here buy rentals with tenants still living in them.
Will my tenants have to deal with showings?
No. BluDoor needs a single walkthrough, and there's no MLS listing or yard sign.
Do buyers take duplexes and small rentals too?
Many do. BluDoor's site lists duplexes, townhouses and condos among the property types it buys, along with single-family homes.
How fast can a rental close?
BluDoor can close in as little as 7 days, and you can choose a later date to line up with a lease.
The Bottom Line
A tenant in place shouldn't stop you from selling. BluDoor stands out as the strongest option for Memphis landlords who want one quiet walkthrough and a closing date that fits around the lease.