All Forum Posts by: George Lods

Hi everyone! After a few years of settling our life, finances, reading books and listening to BP podcasts everyday going to work we are finally ready to pull the trigger! We plan on investing long distance in one or both areas that I am familiar with, Hattiesburg MS and Mobile AL. I'm hoping/looking to connect with any Agents or wholesalers in these areas to potentially capture any BRRR deals that are not on the mls or craigslist. We are super excited but nervous at the same time of what we don't know that we don't know lol. But ready to take the jump and start learning! We feel very grateful for the BP community and the ability to Network with all of you!

So many things to say here. First let me say that I am a Registered Nurse so a portion of my opinion is from my own personal experience in the healthcare field. Like some have already mentioned, the Dilemma of becoming a Dentist should be based on it is/has been your dream and passion. Personally if you are not eat, sleeping and shi**ing the idea of becoming a Dentist I wouldn't do it. I went into Nursing because I enjoyed helping people. But in todays society the healthcare field is highly governed by patient satisfaction almost, if not, more than delivering great healthcare. So what I mean is if I start an IV on a patient and I get it the first try but I don't make small talk and create that "Disney" experience this can be viewed as a bad patient experience opposed to if it takes me 3 tries to start that same IV but I make small talk and present myself as more personable (and that goes for anything in life but healthcare is getting hit hard). In essence a lot of facilities want you to deliver that "Disney Experience" even if care is a little subpar. Now for a Dentist, you would prob have your own practice but you still have the same level of expectation bc everyone will be searching yelp for your reviews. 

Another thing that comes to mind is a study I read awhile back. It compared a high school grad going straight to work for UPS and putting in the same hours as a grad going into med school and then residency. It was found that the Physician would not catch up to the net worth of the UPS working until his 50's mostly related to getting started so late going to work after med school and also the large student loan debt that has compounded interest for all of those years. 

In conclusion I am glad I became a Nurse and thankfully Im working in a region that pays me well enough that I have a great earning potential to fund my REI adventure. And one day I plan on transitioning out of healthcare and to full time investor. But we are talking a 4 yr degree vs your potential 10+ years. If Dentistry is your lifelong passion and REI is secondary/side hustle then go for it. But if your crazy about REI and meh about Dentistry I would go all in head first REI.

Good luck in which ever you chose, both paths can create a great life!

Congrats @Kendall Short! Im hoping to be right behind you as my story is similar. Ive been reading and listening to BP podcasts for the last two years while getting my money right. Now Im finally on the prowl for my first deal and ready to pull the trigger! 

@Michael Babin

Im from Pearl River County but currently living in Northern California. We have just now positioned ourselves to be able to buy our first property. Ideally we are looking for at least a duplex and have been looking in the Hattiesburg and Mobile areas. I come back to the area 2-3 times a year, maybe sometime we can meet up for coffee or something and chat. 

Now I'm still learning so don't kill me if I'm wrong but I looked at your numbers to learn. If you put down 20% on a 30 yr at 3.75% which prob would never be the rate the mortgage payment would be about 812+400hoa+600ins+125 repairs per their estimate =1937 per month cost. And rents are 1750 per month? 21k rent rev decided by 12=1750. Maybe I'm completely off but to me it looks like this place will cost you money?

@Bryan Knight I personally know a lady who did this in Ms. If I remember correctly she bought 10 used FEMA trailers (the 16x80's that they handed out) and put them on some land that she already owned. I believe her rents are 650. What I do specifically remember is her telling me is that after 24 months of rent they paid for themselves and returned all of her investment. $6,500 per month gross rents with no mortgage in 24 months is a nice return in south Ms! I think she paid 9k per trailer at auction.

@Ryan M. Hi Im from the area too. Currently living and working on the west coast but plan to move back to Hburg in about 4 yrs. Lets connect here and maybe we can work together in the future!

Bryan Knight try Phil Gattuso http://southernpropertygroup.com

Bryan Knight sorry my post was in response to your other post regarding contacts in the area.

Bryan Knight try Phil Gattuso. I've never worked with him but I spoke to him over the phone about future investments. Even though I told him I wasn't ready at the time to invest he spoke with me for about 1 hour. He seems very eager to help. Hope this helps! http://southernpropertygroup.com