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Updated about 19 hours ago on . Most recent reply

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Thomas Siswick
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Investing in Jackson, MS - Bad Idea?

Thomas Siswick
Posted

Hi all,

I'm Tom, i work in sales in Utah and have purchased my first two investment properties around Jackson, MS. Both properties cash flow and between them bring in about $600-650 per month. One i put 20% down and the other i put 25% down. This is before any capex - so obviously scale is key in the market like this.

My goal was to buy three in MS for every one in Utah - allowing me to balance cash flow and appreciation equally through the two locations.

Have a great realtor / prop management team there and feel great about them and my relationship with them.

I just read about the declining population in Jackson, it being one of the fastest declining in the nation. How much should this affect my strategy there? Is it a big enough deal to sell the properties and redistribute cash? Or is it something i should monitor and find the good areas within the state? Or just hold on to those two but diversify the portfolio elsewhere also?

Any thoughts may be helpful. TIA

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Basit Siddiqi
  • Accountant
  • New York, NY
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

I just saw the population decreases in Jackson MS. 

It had 200,000 people in 1980 and now there are 150,000 which is a 25% drop in just 40 years.
That sounds scary as an investor.

I looked into the reason why and one thing that popped up with an issue with the city having potable water in 2022...

I would personally look elsewhere to invest, There are other markets that are likely just as affordable and have stable population growth.

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Basit Siddiqi CPA
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