All Forum Posts by: Carlos Quiros

It is an overall affordable area with some decent pockets in the town, so that's why most people are attracted to it at first. As  @Michael K Gallagher had said there isn't too much else there that is driving as much growth. @Carlos Quiros

Hey @Carlos Quiros as far as economic drivers, there is really not much there.  honestly most people that live there likely commute to the west side of cbus for work, or perhaps work at the hospital, but most people I know that work in Springfield live in cbus and just drive.  Like with anything there is an approach that will work, but if your long term plan includes any kind of appreciation, springfield aint going to cut it compared to your cbus investments. 

This might be a hot take but I'd rather see someone get a property in the hilltop than Springfield.  At least there is a wave in the hilltop that is rising.  

Quote from @David Krulac:

@Mario Gonzalez  I started with house hack in PA, and told that story in Bigger Pockets Podcast #82.  I bought a 3 br ranch house that was 17 years old at an auction from the state.  I rented out 1 or 2 bedrooms largely to people who worked at the same place as me.  Most of the time both extra bedrooms were rented and that covered my entire mortgage as well as 2/3 of the utilities.  They were rented on verbal leases with no long term commitment, but there was always a demand for rooms.  Some of the people stayed long term more than a couple of years.

Then the second property I bought was a 3 unit apartment building which also led to buying the 2 unit next door.

One other strategy you might use is to buy real estate within your Roth IRA or your Roth 401K and then all profit from rents and capital gains would be tax free.

Hey love to hear that. Yeah I have around 100k plus in my roth ira right now and 525k in brokerage and rest in 401k


I would be only comfortable selling max 200k to 250k for a down payment. Working with numbers now to see if it's worth it since it has to be a out of state rental

I recently met an investor in Nashville who has many units in Jackson, MS which brought me here to ask more questions.

Quote from @Susan Maneck:

Quote from @Carlos Quiros:

I wanted to gain insight about this market.

How are you all doing cash flow wise, roi wise in this market. 

How much is the average turn key single family home/duplex in Jackson, MS C+/B- areas?

taxes/insurance costs?

Any insight would be helpful

 Hi Carlos, 

In terms of cash flow, Jackson can't be beat. In terms of appreciation, not so much. All of my properties are in C neighborhoods. Chris is right about it varying from street to street. But in the neighborhoods where I invest and have lived, you can still buy a 3/2 with a two-car garage on a 1/4 lot for less than 80K. Taxes and insurance are somewhat high relative to the value of the properties. There is no Prop. 13 here! Also, much of Jackson is in a flood zone, so you need flood insurance as well. Unless you are buying in the Fondren District or Bellhaven, I would avoid duplexes. They don't attract the best tenants and are often overpriced. If you want a small-multi look for a larger house with a guest house (or ADU has they call them in California) and then try to rent it to an extended family.

warmest, Susan