All Forum Posts by: Benton Bell

Ha I'm trying to work a deal right now to manage a property for my cousin. He's trying to buy a property in H, but he lives in Texas

Good deal. Are there any REI clubs or groups that you know of? Who do you mainly rent to in south Jackson? Families, students, young professionals?

John, I'd be glad to work with you on RE in Hattiesburg, but I'm not quite setup to invest yet. Maybe in the future we can work together in Hattiesburg. 

Well I'm an early riser anyway, but this morning was the first time I've been able to go hunting since I moved back. 

I had thought about the Jackson area, but I'm more familiar with Hattiesburg. Both my brother and his wife are USM grads, I've got family and friends that live there, and I've seen some great looking deals surface on Zillow. 

I was talking to another guy about property values, Alcorn graduate actually ha, and he said things are starting to increase around Clinton and south. I guess because of the new tire plant?

MS just seems like an untapped RE dream to me. 

Hello, I just moved back home to MS, and I'm looking to meet RE investors in MS, but particularly in Hattiesburg. It's only about an hour away from my house and seems to be growing steadily. Currently I'm interested in single family and small multi family. Anyone investing in Mississippi?

that title should say "is in my name" 

Hello BP. I have a question about getting started.

A little background on my situation.

I bought the house I currently live in with a 30 year FHA. My family and I may be moving soon due to a change in career. Currently the market here is depressed, so if I tried to sell it, I wouldn't get very much. I've talked to some people I know who want to rent my house. We've agreed verbally on terms, which I will put it in writing soon.

I've read several times that the safest way to invest in RE is via LLC, but I've also read that most places want to see 2 years of returns before they will consider giving a loan to an LLC. I can't transfer the house to the LLC because of the terms of my mortgage.

My question is: Should I start an LLC to simply collect rent from my personally owned FHA property in order to have a record of income in the future?

I'm brand new to all this, since this will be my first rental property, so I'm open to all ideas and suggestions. 

Thank you.

@Nathan Patterson

I'm from Wesson which is right along I55 a little south of Jackson.

I live in a 3/2 house with my wife and 2 sons so no room for tenants. 

We may be moving soon, depending on my job, so I'm planning to rent the place out. I've got some tenants already lined up for it, so my first home may very well turn into my first rental property.

We shall see.

Thanks guys. I appreciate the input. I'll have to dig into those links this evening.

Thanks Dave. I appreciate it and I sure will.

Thanks Danny. I'm pretty much available anytime for lunch, and off on most Fridays due to the down turn in oil. I will definitely be contacting you to discuss.