All Forum Posts by: Susan Maneck

 Yes, but property values can only rise so fast because of Prop 13 until a property changes hands. In any case property taxes in Mississippi are more like 3-4% if not owner-occupied, and that's based on what they think the property is worth. During the Recession their appraisals were higher about 25% higher than I was paying for the properties! 

I would not list Mississippi as a low property tax state. Relative to property values it is anything but. I typically pay $1000-$1500  a year on a house I paid 30K for. That's about the same as my condo in California. Relative to property values, California is much, much less. 

My mother has an LLC for her self-directed IRA which owns property in Mississippi and a note in Nevada. She is a California resident but the LLC is in Mississippi. I'm pretty sure this is kosher.

Jackson has had water issues for decades but thanks to the recent crisis they are finally doing something about it. I always drank bottled water when I lived there. 

There is a facebook group 

Mississippi Association of Real Estate Investors Private Group

They just started having meetups again after the pandemic. 

I think part of what is happening in Mississippi is that the rent income relative to cost of houses is so good it is attracting an awful lot of out-of-state investors who have trouble finding deals elsewhere. That is keeping the price of real estate up. 

In Jackson, MS I'm seeing homes stay on the market longer but I don't see prices going down. 

I own five houses in Jackson, Mississippi in a flood zone on a single street. However, water has never gotten into the houses in my neighborhood, not even in 1979 when most of Jackson was under water. We did get hit hard by Hurricane Katrina even though we were 100 miles inland. They were a lot of old trees in that neighborhood and during the Hurricane they were not our friends. A lot of cars and houses got smashed and we were without electricity for nine days because they couldn't get to the transponders because of all the downed trees. The neighborhood looked like a war zone. But property values in Jackson including my neighborhood went up, not down, mostly because New Orleans doesn't fit in Jackson. I bought my rental properties in the same neighborhood I lived during Katrina a few years later during the recession. 

Where I would not buy property is on the Mississippi Coast. There, entire communities were wiped out. I'm amazed Louisiana is not on your list. How soon we forget.