Investing in Mississippi's real estate market is a good idea for three quick reasons.
1. The huge number of available foreclosures,
2. The amazing tax incentives in the aftermath of Hurricane Katrina,
3. The huge opportunities brought on by the sub-prime meltdown.
How can Streetvestor help?
At Streetvestor we focus on the state's largest city, Jackson, and the surrounding metro area. The rents relative to the value of the homes are very high compared to other areas of the country.
More about the real estate market in Jackson:
• The population of the Jackson metro area is over 500,000 people. About 195,457 live in Jackson proper, and the rest live in the suburbs.
• The Jackson median single-family home price is $80,761. The state median is $71,067. This means Jackson is one of the least expensive metropolitan housing areas in the nation. Property taxes are also relatively low.
• The average age of homes in Jackson is 35, compared to the national average of 38.
• Jackson is a strong rental market: 42% of the homes are rentals.
According to the National Association of Realtors, Jackson saw single-family home appreciation of 8.9% year-over-year at the end of Q3 2006 (compared to -1.2% for the rest of the US), placing it in the top 15th percentile of metro areas in the U.S.
Jackson is ranked as the 9th most undervalued metro region in the U.S., placing it in the top 3% out of 317 metro areas, according to the March 2007 Housing Valuation Report by National City Corporation.
In 2006, Jackson was named of America's Top 30 Livable Communities by Partners for Livable Communities.
Despite the low housing prices, rents, relatively speaking, are much higher. According to HUD statistics, the 50th percentile rent for a 3-bedroom dwelling in 2006 was $826 per month. This makes Jackson one of the best areas in the country for positive cash flowing rental properties.
The economics in Jackson are clearly favorable for real estate investments.
The key to investing in Jackson lies in careful selection of the investment company, working with that company to select homes in the right locations and neighborhoods, and carefully selecting tenants and property managers
At Streetvestor, LLC, we are experts in the area, we perform the due diligence on behalf of our investors to get the right homes with the right rehab and the right tenants to earn safer, superior returns on investment.
I work with investors from all across America, providing turnkey keeper rental properties. For more information, email me at edwin@streetvestor.com.
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