All Forum Posts by: Susan Maneck

Quote from @Laurent Urich:

Thank you, Susan. I apreciate it.

By the way, your LLC doesn't have to be in the same state as your properties. Mississippi is a very easy place to establish an LLC.

Quote from @Laurent Urich:

Howdy fellow investors.

I'm looking to create an LLC in one of these States: TN, AL, LA, or MS.

Which State do you think will see the most growth potenital?

I appreicate your feedback and expertise.

Mississippi is best for BBB rentals but your returns will be in the rents themselves. Don't expect a lot of appreciation. 

Quote from @Zach Rumfield:

This particular property might make for a good house for professors or staff at Delta State if anyone has connections to that school. Its a big house and I dont see if being a student housing rental. But I dont know that market and could be wrong about that. 

I think most of the students at those two colleges are commuters anyhow. It's an impoverished area.  

Well, there are two colleges nearby, Delta State and Mississippi Valley but they are about the poorest 4-year public universities in the state and most of the people that go to them are from the Delta. 

Your are telling people to discriminate against tenants who happen to use a common regional expression; one especially common with African-Americans. I think there are laws against that. 

Here's the difference, you assume that if people are poor they are bad. 

One can see that's your attitude, which means you are only exploiting these people not serving them. No wonder they feel no hesitation in cheating you! 

Some people who live in Cleveland are from the South. 

In Mississippi people end their voice mail messages with "Have a blessed day." It means nothing other than they are likely Christians. 

Now "bless your heart," that's a bit sarcastic. If I asked someone when they are going to pay me what they owe and they answered "bless your heart" it means never. But I've never had a tenant say that to me. 

Tenants are our clientele, not our enemies. 

Wow, talk about ethnic prejudice. 

"Have a blessed day" simply means they live in the South! 

  Some percentage, maybe 20 -25 % are “liars, scammers, predators”. Some, maybe another 20 -25% are honest and ethical.  The other 50% just don’t understand real estate law, real estate principles, real estate finance, and real estate agency.  They have no clue what they’re doing. 

That's been my observation. They are often young people who have been sold a line that this is where you start in real estate if you have no money.  Unfortunately that typically means no knowledge or experience as well. There is no such thing as starting with no money. IMO the place for a young person to start is house hacking. They'll get lots of experience that way.