Why Do You Invest in Mississippi & Jackson?

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Why Do You Invest in Mississippi & Jackson?

Lauren HoganPro Member
Rental Property Investor · Denver, CO · Member since 2016 · 86 posts · 160 votes

BiggerPockets! I'm working on building a landing page for Mississippi and the city of Jackson. Would anyone be willing to share why you invest in the state and/or the city? What makes your state and city so wonderful for investors?

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David Sills
Rental Property Investor · Jackson, MS · Member since 2018 · 7 posts · 10 votes
6y

I was in property management in Jackson for about ten years before moving out of state for a career in education. I just returned to Jackson after 30 years gone and want to get started again with investment properties (primarily buy-and-hold or rehabbing and reselling to help people get their own home). I love Jackson and have great hopes for its future. I want to give back to the City that gave me so many good memories. There are many good people here, some of whom have not had the blessings I've known so I want to help them by providing safe, attractive, and affordable housing. I'm not trying to be a millionaire; I just want to make a living while helping others do the same in this great City.

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  • Clint BoltonPro Member
    Investor · Hernando, MS · Member since 2012 · 61 posts · 30 votes
    6y

    I can help with the North MS area but we do not invest in the Jackson area.

    0Reply
  • Darron Stewart
    Investor · Hattiesburg, MS · Member since 2014 · 280 posts · 98 votes
    6y

    We invest all over the state with rentals and tax liens, but never in city of Jackson.

    0Reply
  • Jonathan R McLaughlin
    Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    @Lauren Hogan I remember the very-much-worth-listening to @jay hinrichs posting about this a while ago

    0Reply
  • Yolanda Brown
    Rental Property Investor · Brandon, MS · Member since 2018 · 24 posts · 6 votes
    6y

    I invest in Meridian, MS.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Jonathan R McLaughlin:

    @Lauren Hogan I remember the very-much-worth-listening to @jay hinrichs posting about this a while ago

    thanks for the mention.. just like any city its cut into 3 or 4 areas.. from the Hood to very nice.. pick wisely. 

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    1Reply
  • Jay Weathersby
    Rental Property Investor · Orlando, FL · Member since 2019 · 44 posts · 48 votes
    6y

    Jackson has a lot of cheap properties that could be used for cash flow only. I came close to purchasing a few myself but decided to walk away last minute to focus on other projects. I was planning use them as Section 8 rentals and would’ve made decent cash flow. Jackson is mostly low income.

    4Reply
  • David B.
    Investor · Worcester County, MA · Member since 2016 · 122 posts · 72 votes
    6y

    I have owned a SFR in Jackson for about a year and a half and have been trying to understand the market.

             This is what I have learned:  I can tell you that you need to be careful about foundations.  Make sure you get trusted eyes on the foundation and have it inspected.  Also, there are areas near the  Pearl River that have flooded, so look into that.  It sounds like there are problems regarding infrastructure like roads and water supply.   Taxes can jump up a lot if you buy a property from an owner occupant and turn it into a rental.  Be careful of neighborhoods and look at the crime rates. 

        Cash flow can be good.   Im sure there is s lit more, but I'm still learning as well.  Take your time and do your due diligence.

    4Reply
  • David Sills
    Rental Property Investor · Jackson, MS · Member since 2018 · 7 posts · 10 votes
    6y

    I was in property management in Jackson for about ten years before moving out of state for a career in education. I just returned to Jackson after 30 years gone and want to get started again with investment properties (primarily buy-and-hold or rehabbing and reselling to help people get their own home). I love Jackson and have great hopes for its future. I want to give back to the City that gave me so many good memories. There are many good people here, some of whom have not had the blessings I've known so I want to help them by providing safe, attractive, and affordable housing. I'm not trying to be a millionaire; I just want to make a living while helping others do the same in this great City.

    9Reply
  • Lovorn Brown
    Member since 2019 · 17 posts · 10 votes
    6y

    We invest in the Northeast part of Mississippi....specifically in Lowndes County.  It is low income but the cash flow is good. We also invest on the coast. 

    0Reply
  • Stephen E.
    Rental Property Investor · Member since 2020 · 172 posts · 110 votes
    6y

    I have several homes in Jackson. The cash flow is great. The houses are really affordable. I'm currently looking for a local banker in Jackson Mississippi because I would like to refinance my portfolio of homes there. If anyone knows of a good local lender please let me know.

    4Reply
  • Alicia C.
    MS · Member since 2020 · 37 posts · 19 votes
    6y

    @Stephen E. What zip codes are you investing in?  Fondren/Belahaven areas?

    0Reply
  • Stephen E.
    Rental Property Investor · Member since 2020 · 172 posts · 110 votes
    6y

    @Alicia C. 39209 and 39204. Also in Yazoo 39194.

    0Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y

    I don't know of any state in which you can get more bang for your buck in real estate investing at least if you are using the BRRR method. Mind you, you can't count on appreciation, but you can expect at least 2% returns on rentals. I invest primarily in South Jackson in the 39212 zip code. I have one property in Byram. My son invests in properties in the 39206 and 39211. I avoid 39209 and 39204. Too much of a war zone.

    3Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y
    Originally posted by @Stephen E.:

    I have several homes in Jackson. The cash flow is great. The houses are really affordable. I'm currently looking for a local banker in Jackson Mississippi because I would like to refinance my portfolio of homes there. If anyone knows of a good local lender please let me know.

    My son finances his houses through Trustmark, but I don't know of any banks that refinance entire portfolios. As you know, houses are so cheap in Mississippi it is hard to get regular mortgages without paying ridiculous closing costs. What I have done instead is pay cash initially. Then, after the house is rehabbed and rented, I take out a first place home equity line. Few banks will give home equity lines to houses that aren't owner-occupied but Wells Fargo will. They are kind of a pain because they take so long and require so much documentation but the only closing cost I have is the appraisal. 

    0Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y
    Originally posted by @Alicia C.:

    @Stephen E. What zip codes are you investing in?  Fondren/Belahaven areas?

    If you can get a good deal in Fondren and Bellhaven, go for it, but in my experience real estate there is overpriced. 

    0Reply
  • Vic Valera
    Contractor · Jackson, MS · Member since 2019 · 50 posts · 25 votes
    6y

    @Stephen E.

    Tim Pickett at Community bank in Brandon, MS. We have had good experiences working with him for commercial real estate loans. 

    2Reply
  • Stephen E.
    Rental Property Investor · Member since 2020 · 172 posts · 110 votes
    6y

    Thank you @Vic Valera!

    0Reply
  • Stephen E.
    Rental Property Investor · Member since 2020 · 172 posts · 110 votes
    6y

    Thanks @Susan Maneck! I actually bank with Wells Fargo and never even thought about doing that. I'll check them out and see about that. That could be great.

    1Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    6y

    As David B. mentioned foundation problems are endemic to Mississippi so, which is why I don't recommend real estate investing to out-of-state buyers who can't check out what they are buying. Many house are in flood zones. I will sometimes buy the latter, but never the former. Also, I don't buy houses with active leaks. The dangers of mold are just to great here. 

    1Reply
  • Jeremy Behling
    Lake Mary, FL · Member since 2014 · 4 posts · 4 votes
    6y

    Y’all are making me nervous. Just got under contract for a house in Brandon. Not my first rental but first out of state rental. Inspection would notice foundation problems, no?

    For the person who asked about a lender in the area.. I shopped around and Mutual of Omaha blew everyone out of the water in terms of points and fees. Not local but they are licensed in MS.

    1Reply
  • Jay Weathersby
    Rental Property Investor · Orlando, FL · Member since 2019 · 44 posts · 48 votes
    5y
    Originally posted by @Jeremy Behling:

    Y’all are making me nervous. Just got under contract for a house in Brandon. Not my first rental but first out of state rental. Inspection would notice foundation problems, no?

    For the person who asked about a lender in the area.. I shopped around and Mutual of Omaha blew everyone out of the water in terms of points and fees. Not local but they are licensed in MS.

    Brandon is a great area to invest. A lot of growth and great school system. And yes a good inspector should be able to notice foundation issues. Congrats on the new rental.

    2Reply
  • Jerome Mabry
    Rental Property Investor · Houston, MS · Member since 2021 · 5 posts · 0 votes
    5y

    @Jonathan R McLaughlin

    How would I find that?-newbie

    0Reply
  • Jonathan R McLaughlin
    Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    @Jerome Mabry Sorry Jerome I don't understand the question. Find what?

    0Reply
  • Jerome Mabry
    Rental Property Investor · Houston, MS · Member since 2021 · 5 posts · 0 votes
    5y

      sorry for the confusion, I was asking where I could find the @jay hinrichs posting about  investing in Jackson and Mississippi you recommend 

    0Reply
  • Jerome Mabry
    Rental Property Investor · Houston, MS · Member since 2021 · 5 posts · 0 votes
    5y

    @Jonathan R McLaughlin sorry for the confusion. I was asking where I could find the Jay Hinrich’s post about Jackson MS investing. I’ve been unable to locate it.

    0Reply
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