All Forum Posts by: Christian Brown

@Kevin Prigge aaaaaaaaand the Navy Base lol I’m not sure what the exact effects are to the market, but I know several investors who prefer military tenants and would most likely go out of their way to service them if they could.

Definitely has some impact. Just not sure how to quantify that.

@Nick Rutkowski well, I’ll gladly make the case that Mississippi is one of the best markets to invest in.

I won’t build my platform around living here lol. The good thing about real estate investing is that you don’t have to live in your investments if you don’t want to.

@Jay Hinrichs very true! I was looking into Cleveland, Indiana and Missouri for a while. Numbers look pretty similar, but the coastal economy was one of my deciding factors for staying in my backyard.

@Kevin thanks! I completely forgot to mention the Air Force Base!

My personal residence has been here for several generations. 

But I get it lol you’re from Jackson. Jackson is cool too. 

Not everywhere was flooded and not every home is in a flood zone. 

I actually tell my buyers to avoid flood zones as flood insurance eats profit in deals. 

If anything, the Mississippi Coast has aggressively grown to rebound from Katrina. 

I accidentally stumbled into something and I'd like some feedback. As both an agent and investor, I've been doing research on a few areas to see which markets offer the best returns for both myself and my clients. I've recently been a part of several conversations with other investors from major markets who are currently parking cash into buy and hold properties. I'm currently wrapping up a few fix and flips and considering a possible new construction build with the intention of shifting my focus back to buying and holding. 

Most of the markets are midwest towns, but after a few of these conversations I'm falling in love with the Mississippi Gulf Coast.  I'm writing down some of my findings. Would love to hear feedback! 

- The State of Mississippi is Landlord Friendly

- You can quite often find several deals that beat the general 1% rule and sometimes even 2% or better.

- Cash on cash returns are healthy.

- While Mississippi has EXTREMELY modest appreciation, it also doesn't have huge market swings. Typically. This stability is great for 'boring' investments. Not so hot for investors looking for 'excitement'. 

- Taxes are relatively low - take THAT California lol

- Gulfport, MS is literally the PORT of the GULF. This, among other factors make the Gulf Coast region a fairly vibrant economy.

- The Mississippi Gulf Coast is also one of the only areas of the state that has tourism as a significant piece of it's economy.

- The Mississippi Gulf Coast has an international airport

- The Mississippi Gulf Coast has a beach

- Houses are some of the cheapest in the country. 

I'm currently selling this flip for less than $200k  - in any other market, it would be sold for any multiple of it's current listing price. 

As you can see, this home is on the moderately higher end of the spectrum. Not a million dollar house or anything, but I'm definitely looking to make it a retail deal and not something to buy and hold. 

This home is being sold in the 180s and there are several other properties being sold from $65k to $140 that aren't in completely war-torn areas that make for great buy and holds. While you do have to be careful about what areas you purchase in, many of these properties would make for great investments and would make for lovely homes to potential tenants. I'm sure there are investors from Mississippi who can even beat THOSE numbers. 

This is just an example (and I'm kind of excited about finally wrapping up this particular rehab) but I have out-of-state buyers who regularly ask me why a house in Mississippi is so cheap, is it livable, and if it's less than a quarter million dollars is it in a war zone. 
 

I'm saying all of this to say: the Mississippi Gulf Coast is a great place to invest if you're looking for a stable investment that isn't extremely expensive - as far as real estate goes. I love real estate on the Mississippi Gulf Coast.

I won't try to make the case for making it your primary residence right now lol 

Hey @Justi Kobilis, just sent you a message! 

What area are you in @Jasiel Metcalf? I'm in the Mississippi Gulf Coast area and I work with wholesalers who are finding success. You just have to know what you're doing and conduct yourself like a professional. 

You should visit your local REIA. Extra points if you're on the Gulf Coast.

@Eviano I. I don't mind at all. There are several properties on the coast that aren't in a flood zone. There are some people who prefer to live on waterfront properties, so there are homes that suit them. There are some people who prefer acreage and big back yards, so there are homes to suit them as well. I'm personally renovating one home in a flood zone with the intentions of selling (comps are high in the area because of the waterfront location) and renovating another home that's a simple 3/2 on a slab that isn't in a flood zone. 

I recommend staying away from homes in flood zones if you plan to rent simply because of the additional holding costs that come with flood insurance in flood zones. While some of these storms are inevitable, my current residence didn't flood during the storm. Just be mindful of the area.

@Avery Carl I'll send you a PM and we can discuss.  I go back and forth from the Coast to Starkville. Definitely a difference in the way the locations operate lol