All Forum Posts by: Jay Weathersby

Just curious what advantages are you referring to? I'm assuming being able to defer those mortgage payments to the end of the loan while pocketing the rent. If so this has been one of the sweetest deals ever.

Jackson has a lot of cheap properties that could be used for cash flow only. I came close to purchasing a few myself but decided to walk away last minute to focus on other projects. I was planning use them as Section 8 rentals and would’ve made decent cash flow. Jackson is mostly low income.

I grew up a large portion of my child hood right outside Jackson, MS. I don't think homes will appreciate enough to successfully implement the BRRRR strategy. Most of Jackson is low income and below the poverty line so yes cheap homes are plenty. I would say areas surrounding Jackson would be your best bet. Those areas are Madison, Brandon, Pearl, Flowood, Byram, Ridgeland, and Clinton. I am not familiar with Birmingham but it seems to have way more going for itself than Jackson. It has UAB and their building a brand new football stadium in downtown. With that being said I would say Birmingham is the better choice.

Also I have plenty of contacts in the Jackson area to assist if you decide to go that route. Just let me know and I can provide contact info.

I live and invest in Orlando and work with a great realtor who gives a 1% kickback to his clients. Please let me know if you like his contact information. 

I grew up right outside of Jackson, MS in a town called Crystal Springs. I have looked at several Jackson properties over the last few years, but haven't moved forward with purchase. I did buy 27 acres of rural land near that new Continental Tire factory in West Jackson/Hinds County. My plan is to lease to a solar energy developer or cellular company.

I'm pretty sure this is either cancel or postponed

Don't feel too bad I had three deals fall through over the last few months. I paid for home inspections and appraisals for all of them. All failed for completely different reasons. You live and you learn. That's the nature of the game we're in. I'm back up and on the prowl again with my finger on the offer trigger. Let's see how the next deal goes.

I use Choice Home Warranties. It usually cost $300 per year and $60 for each service call. They offered me a deal for $1000 for 3.5 years and $45 for each service call. They cover all repairs and if it can't be fixed they replace. So when my tenants call about an issue I just file a claim through their website. They will schedule the repairs and I just got to let me tenant know the date and time. You can also have the tenant pay the service fee as well. This has been a win for me. Just this year I’ve had a hot water heater replaced, new control boards in both a washer and refrigerator, and HVAC repair. All for less than $200 out of pocket. Without a warranty that would’ve cost thousands.