All Forum Posts by: Nathan Patterson
Nathan Patterson has started 15 posts and replied 169 times.
Post: Mississippi Single Family buy & hold

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Quote from @Susan Maneck:
You can't count on 3% appreciation in Mississippi. The last time there was appreciation in Mississippi before the pandemic was in the wake of Hurricane Katrina. Also, keep in mind that Mississippi still hasn't raised its minimum wage from $7.25 so there are limits as to how much rent can be raised.
That is great information. Do you know what appreciation you typically see?
Post: Mississippi Single Family buy & hold

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Quote from @Robin Simon:
Think the numbers look solid and conservative (3% appreciation / 2% rent growth) - leaves some room for upside surprise!
Yep, I wasn't sure what to go with since it is Mississippi & it is my first property.
Post: Mississippi Single Family buy & hold

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Quote from @Susan Maneck:
The price looks right to me, but I sure hate that interest rate!
I agree, it depends on which loan I go with. I put in the highest interest rate to see if it would still work.
Post: Mississippi Single Family buy & hold

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Looking for some feedback on my numbers. Also any input on any thing I might be missing or have completely wrong. Review numbers here.
Post: I’m looking to network, I’m from Mississippi

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Hello there,
I'm in Colorado but I'm from Tupelo. I'm working on my first rental in that same area actually. Have you started analyzing or speaking with any agents?
Post: First Mobile Home Investment Property

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Good job, is this your first rental as well? Do you mind sharing the COC/cash flow? What are your long term goals with this property? I'm interested in doing a mobile home myself, the one I'm currently looking at is by itself though sitting on 6 acres.
Post: 40% Down to ensure good cash flow?

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Personally, I would not tie up 40% into one property. That is a lot of cash to not have access to. I think you should keep analyzing to find a deal that works.
Post: Expand Search Region into More Rural Areas for More Deals

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Hello,
quick background, I have started my 90 day goal of getting my first property. I started on July 1st & have thus analyzed 34 deals, trying to get to 100 as Brandon Turner recommends. Here is the issue, I'm out of deals. Right now I am using the MLS since this is my first property & don't know the process quite well enough to do an off market deal. Should I expand my region out of the town I am looking in. It is a town of 38,000 people or so. I could expand out into more rural areas, just not sure how easy it would be to rent in the country. There are a few that I could offer on out of the 34 that I have analyzed though. Thoughts?
Post: Sharing my first deal!

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
Congrats! I like the looks of the property. Will you be managing it yourself?
Post: Remove PMI Without Forfeiting Current Rate

- New to Real Estate
- Castle Rock, CO
- Posts 172
- Votes 66
You should be able to remove without losing your current rate. I would recommend reaching out to your lender and find out their process. I'm currently in this process and I'm only needing to reappraise.