Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
We’re not just picking markets for the joy of picking it because it was close to Memphis and we could just kinda plug into. That’s a benefit, that’s a bonus, but that’s not why we picked it. We picked it because the price points make sense. It’s a little less expensive to be in Mississippi than Memphis.
We’re already in Memphis. You have this pretty much the same rents, a little less expensive price points and less expensive taxes. So Mississippi makes sense. What would your life look like if you could replace all of your working income with simple and conservative investments that could do it for you?
Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their work income with real estate investment income. Each week we’ll be pulling back the curtain on the ins and outs of real time retirement based real.
Transactions that will transform your financial future even if you have no real estate experience. This is replace your income with me, Kevin Clayson and Steve Earl. All right, well, hello everybody and welcome to Replace Your Income with Kevin and Steve. Hey, so we are both in the office, but we’re not in the office office.
We’re not in like the same. Recording the podcast the way we usually do because we have a special guest today and we are so excited to bring him on. But before we get to that, cuz it’s not just special guest day here at Replace Your Income, Steve, it is double mega, super awesome announcement day at Replace Your Income.
Double mega, super awesome announcement, right? Is that what it’s double Megan? Yeah. Yeah. Something like, I’m pretty, I’m, I’m pretty excited about these two announcements. For sure. Whatever you wanna call this morning Steve popped into my office. We started to record and I guess I was being overly energetic, like that’s a brand new thing for me.
And he was like, You must have already had a couple monsters. And I was like, Nope, I haven’t had a single one. He’s like, That explains it. I dunno what that meant. But, um, but Steve weren’t quite yourself. You were just a little bit over, over the top, top, top. Okay. But you know why. Right? Okay. But you know why The reason is, so for those of you that don’t know, Steve and I get a.
To interact with some of the coolest people on the planet because of Done Free Real estate and because of our Replace Your Income podcast. And I was just in Boise. And in Boise, I was at a mastermind. For those of you out there who know who Russell Branson is, he is the founder of ClickFunnels, which it’s a nine figure business.
They do an unbelievable work, and it’s a, you know, marketing company and a software company. And, um, we get a chance to be a part of, uh, Russell Branson’s Inner Circle, which really is just a mastermind with some of the coolest entrepreneurs you’ve ever met. I’m not kidding you, there is the most amazing people in that room.
And so I just got back and so that’s what you’re sensing, Steve, is my, uh, my bubbling. Excitement. Maybe it’s just the fact that I’m no longer driving in my truck home from Boise. Maybe that’s what it is. It could be that. And I did know that you were excited coming back from that conference. I mean, you, you shot me a text right before you left.
You’re like, Dude, I gotta give you a call on my way back. Are you gonna be available? Like, I can’t keep all this in my head. My head’s gonna explode right now. Yeah, it was awesome. And then we talked for, like, we talked for like, I think it was like an hour and a half. It was. So was super duper cool. But let’s get to the episode today because like we said, it is a double mega, super awesome announcement episode here on Replace Your Income.
And we have two big announcements that we wanna make today, and I don’t feel like I should be the one that makes either of them, Steve, because, uh, to be totally honest, this is something that you and our special guests have been working very hard on and something that is extremely exciting for our. For replace your income listeners, and so I’m gonna kick it over to you, Steve.
Why don’t you. Should we welcome our guest first and then with him make our super o our other super awesome announcement. Yeah. So I’ll, I’ll kind of, uh, set the stage here. Uh, appreciate you, uh, uh, let me do that. So as an organization, as a company, we reorganized about five years ago as, uh, done for you real estate and kind of, uh, changed up our business model a little bit and took everything, all of the good that we learned over the previous years and ran with that and improved that, and we kinda left.
Some of the different things that we had learned that weren’t quite, you know, according to what we wanted to be doing. And so it was, it was a super exciting time, but it was a time when we were, when we kinda did this reset of the organization in the company. And since that time we’ve had a pretty ambitious goal of growing the company to the point where we were closing about 50 purchase transactions per.
And recently, you know, we hit that goal, that objective. And the goal now is to stay, you know, above that and, and to continue to grow, you know, uh, modestly, you know, over time, like we’re, we’re, we don’t have this take over the world mentality. We have the mentality of, Hey, we wanna do as much business as we can.
While still keeping the personal touch with each of our clients and have creating an organization where the, the client’s experience is central, right? And so we’re pretty excited that we kind of hit this major milestone. And as we got closer and closer to hitting that milestone, one of our goals and objectives and one of our needs has been to be able to provide more inventory for our clients.
And as. We’ve been in the process for more than a year, um, vetting different markets and deciding where we’re gonna go. We have identified about five different areas where we plan to go and, uh, we are going to be announcing our next official market where we’re going to be, uh, going into. But before we kind of jump into that, one of the other things that we knew we needed to do as we continued to grow.
Is we needed to add some additional people to the crew, right to the team. And one of those areas of responsibility that we needed to beef up a bit were our market operations and making sure that we really took care of our, uh, relationships in the markets and that we had the ability to open up new markets and so on.
And that’s when I felt like I needed to have a conversation with, uh, our good friend. Gary Norris who has been on the show before. That’s right. Who has, I mean, the first time he is on the show was when he went and opened up Oklahoma City with the Sun Preston. And since that time, about nine months ago, they are on track.
They are inches away from closing their 100. Property for our clients. It’s amazing. Just think about that for a second by the congratulations, Gary. That’s awesome. You, you guys have been amazing for our whole D FY family. That’s really, really cool. You open a new market and do almost a hundred properties in a year, like come on.
It’s amazing. Yep. And so Gary has a lot of capacity. He has a lot of ability, and he has all of those qualities that we want to instill in all of our market teams that we open. Uh, we have amazing teams in all of our markets, but as we open new markets, I couldn’t think of a better person to recruit and train and walk through the process so that they could catch the vision of how we like to work with our clients.
And so I went to, to Gary and, uh, offered him the position of director of market operations at a national level. And, uh, you know, he kind of hesitated for a while. Took him like weeks and weeks to decide whether or not, uh, he would do. Actually, it took him like two and a half seconds and, uh, it, it was just, it was a great match.
We’ve been talking, you know, for, for a long time and so I wanna introduce Gary and, uh, congratulate him as well as thank him for accepting this position as director of market operations. Gary. Well that is super awesome and thanks to both of you by the way, super, super excited. And you know, Kevin, it’s not that I’m counting or anything, but Preston and I have been in Oklahoma City for nine months and three days.
And, um, we have hit, we’re, we’re so close, we’re just a couple homes away from 100 closed, uh, since we opened up here, which was on June or July 12th of last year. So we’ll for sure surpassed Mark the time we did our year anniversary and, uh, which is super exciting. And as we were, uh, rolling this out here in Oklahoma City and having the success, my brain, and I know Steve was as well, and Kevin, yours too, but you’re so focused on all the goodness of this company, the marketing side.
I hard my friend, Dang it. But I’m glad you, But I know that when we were just cranking things in Oklahoma, My brain was just like, Okay, we need to rinse and repeat. We need to do this and we’ll announce where in a minute. But I was just thinking of multiple places I could go and duplicate this and like they’re.
If they won’t wanna do it, I’ll just do it independently. We’ll make it work. And uh, I was kinda sharing that with Steve towards the end of the year, which was a few months. Now he’s like, Well, we got some ideas brewing on how we maybe take this and expand. So finally reached out to me. You’re right. It took I think two and a half seconds for me to say, Yep, I’m board.
Cause it aligns perfectly with what I was hoping you guys would, and I’m just thrilled to part of the internal team to help take this into you markets across the excited. Let me just Thank you so much, Gary. We’re so excited. And maybe what we should do, Steve, is put the word national in front of director of market operations, national director.
I mean, now that sounds like you’re in the president’s cabinet. That’s what it, That’s what it feels like, but I just gotta say this. Okay. So I, like I mentioned, I was just in Boise. And I had an opportunity to stand on stage and kind of present to this, you know, our mastermind group, sort of who DFY is, right, what it is that we do.
And there was a couple, uh, old dogs in the audience. They have been in the world of marketing and sales and business for a long time, have unbelievably well established businesses. One of them in fact is a book publisher. And, um, they have done an enormous amount of books with real estate guru types, with real estate folks.
After I presented who we were, what we do to kind of get some feedback and, and, you know, mastermind give you a great opportunity to just get better. You know, masterminding is one of those principles that Napoleon Hill talked about and think you grow rich that, uh, can make a massive difference. And this one individual who is a massive book publisher, he grabs the microphone and he goes, Hold on one.
And he said, Are you telling me? And he restated what I said that we do. And he said, I have been around the block so many times. We have published so many real estate books. I have never seen anybody that is able to do what you do. And as soon as he said that, you guys, this was the thought that I had. The only reason why done for you real estate has the ability to do what we do for our clients.
Is because of the system. That means that someone like Gary is going and setting up a market that done for you. Real estate has boots on the ground in multiple markets to facilitate this. There is not another company that doesn’t quite like this. There may be a company that operates in one location with boots on the ground, and that’s all that they do.
The other end of the spectrum is you’ve got turnkey companies that’ll say, Hey, come to our website and pick a property all across the country, but to do it this. Where we build these level of relationships, where we’ve got boots on the ground that integrate fully with what we’re trying to do here at the home office.
That’s also integrated with, Now you, Gary, as our director, National . Correct. I’m, I’m just throwing it in there. Director of Market Operations. You add the acquisitions team here in the home office and everything they’re doing to, you know, to vet the property, to the financing, to the insurance. I mean, the whole kit and caboodle.
It was such a cool. You know, cuz we talk about it all the time. Steve, on the podcast and Gary, we, you know, just casually we’re talking about it all the time. Our goal is to help busy and successful people gain all the financial benefits of owning investment real estate without having to take on any of the headaches or hard work typically required.
Of doing it themselves. And it really is something extraordinary and special. And so when I think about what you’ve, what we’ve as a crew accomplished, but specifically Gary, what you were just about to announce and, and Steve, what you’ve been working so intricately with Gary on. It really is, and I just think sometimes it allows us to take a step back and really look at what it is that we’ve been able.
To do together. And more importantly, what it means to the individuals that we work with that are buying in these states that otherwise would never have access and how it can shift and change their financial lives. And it really, it, it inspires me. And so I just wanted to say that it really is extraordinary and we are so excited to be able to announce this next market, doing it this way, that we’ve now been doing it for more than a.
Um, it really is special and so I’m gonna shut up and let you guys make the actual market announcement. Well, I appreciate that Kevin. Gary has been a road warrior the last couple of weeks. He’s been in, uh, multiple markets, meeting with our existing teams and then also working to set up our new teams. And so, Gary, why don’t you, uh, share with everybody the new market that we’re gonna, that we are announcing today.
And then maybe just talk to us a little bit about the market and why you’re excited about it. Man, you’re gonna let me say it. Absolutely. Holy cow. I forgot what it was though. . I’d prefer that you sing it. Can you sing it? No. Definitely prefer to you sing it. I will definitely won’t sing it , but I appreciate your effort and if I did sing it, you would’ve to dance to it.
And I don’t wanna see your, your, your, so, uh, we’ll, we’ll just, I will just announce it. No, I did, um, you know, I went and was talking to some great, uh, agents. That are, uh, not affiliated with us, but are amazing real estate agents in this market. And when I went and met one of, um, she’s a really amazing agent with realty.
She does personally herself 30 million a year in real estate sales. And her focus is not where we focus at or are done for you clients, but when I met with her, And, uh, she found out who we were and I told her, Were just mentioning real. She’s like, You’re done for you real estate. This is a that I’ve never before.
And she who real and yeah, Alison to Buck Sexton and know for real estate, she’s like, You are, you guys are done for your real. Like, Yes we are. And I just took all the credit in the world for that. She said, Well, I can’t play with you guys, but I know people that need to play with you. She got on her phone, we were sitting at a Starbucks in this particular area, and she got on the phone and said, You need to this guy named, he’s the, they’re the done for you real estate people.
And the guy’s like Dun Real Estate. She’s like, you know, Buck Sexton, and uh, maybe you guys better talk about that too and give him a plug, but he’s like, Oh, those. And so within an hour and a half I was down having a frozen, uh, drink with him. Uh, well, I shouldn’t say that. Sounds like I’ve beening, which I don’t do.
But within an hour and a half I was now with him, a treat shop, having this UHD ice Beautiful at a place called the the Vampire Penguin in South Haven, Mississippi. Boom. Mississippi, Mississippi, m i s s i s s i p b i I get, I mean, yes, South Haven, Mississippi. So, Steve, just talk a bit real quick, yourself about South Haven, Mississippi, and we’ll kinda back and your thoughts.
You, you were the one that kind, uh, kind of clued me into this little golden gem market. Yeah, so actually more than a year ago, we identified this as, as a great potential market. Mainly because it literally, it’s northern Mississippi right on the border of. Tennessee, and we’ve been wanting to get down in this area for quite some time, and we made arrangements with our current property manager in the Memphis market to get licensed exclusively for us to be able to manage our properties there.
It’s literally, it’s like there’s this invisible line that’s invisible border between Tennessee and Mississippi that you, you cross the line when you , when you drive through like a, uh, an intersection and then all of a sudden you’re in Mississippi and. Unless you have all the licensing, we couldn’t operate there.
And so there’s kind of like this invisible barrier of entry to many of the other groups who, who, who might be buying in Memphis. Memphis is a very popular investment area for many, you know, different groups. And so we feel like this is a great opportunity where they’re, uh, because of this barrier to entry.
There’s potentially a little bit less competition and more opportunity. South Haven Olive Branch and some of the surrounding little suburbs of of those two cities are just fantastic areas. There’s actually a lot of new construction going on, new home developments. In fact, there’s a couple really massive home developments going on there.
And I think Gary, as you drove around, you were a little bit surprised as to, uh, what you were seeing, if I remember right. Yeah, I was, uh, actually, I was very, very surprised. I saw, I mean, I looked it up on the, on the map. I get my GPS phone out and I look at it and I’m like, Oh, okay. So there’s these little towns outside of.
Across the border from Memphis in, in Mississippi, and I was blown away. Cause it, they’re not really little towns. There’s, there’s 150 to two people that live across the border and South Haven, and although Branch in particular and the surrounding towns around them, immediately around them. They’re popping.
I was really impressed when I went down there. Yeah. And you know, talking to a couple different agents that we’ll be working with who were giving me kinda, you know, the lay of the land. I spent a whole day there actually. I’ve spent a day and there and, um, it was really good to just kinda see what I was hoping I would see and have it confirm.
So, as you mentioned, Steve, there’s anywhere for new development, new subdivision to, you know, traffic patterns and infrastructures there, jobs are there, homes are there, transportation schools. It’s all there. And it’s amazing cuz it can be served by our existing property management team that is in the Memphis market.
And being able to go out there and work with licenses that are in Mississippi, South Haven and Olive Branch is gonna be a big boost to our clients. Who, whether or not they bought in in Memphis before, or whether you’ve considered it, you now have an option to consider, you know, Northern Mississippi as well.
Yeah, as we went in and we, you know, we went through the same bedding process that we do for all of the different markets that we, you know, go to. And it has most, if not all of the same characteristics as the Memphis market. It truly is kind of a suburb and a lot of people travel into Memphis to work and that kind of a thing.
And it was more than a year ago that we got licensed. For our lending company. So we’re all set up there. That way we’re able to do insurance there, obviously the property management and now, uh, with your efforts, the, uh, you know, the real estate agents will be, uh, part of our team. And so we’ve got all the infrastructure set up there, all of the systems, processes, procedures, everything that we have in, in our other markets.
And so I’m super excited to pull the trigger here. And I believe the goal is to go live May 1st. So we’re, we’re only a couple weeks. By the time this podcast airs will be even closer. So some of the things to consider, uh, with this market as well. One interesting, you know, effect is that taxes are actually just a little bit less in Mississippi than they are typically in, in Memphis and throughout Tennessee.
And so that’s kind of one big plus there. It’s a very similar market in terms of its stability. One of the things that I really love about the Memphis market and now, uh, Mississippi, South Haven and Olive Branch is that these are markets that are growing. The equity growth is really good right now, but what you don’t see is kind of like the over permitting of, you know, new builds where the pendulum swings too far and you get an oversupply.
Typically building has been kind of conservative over the years. And so you get this stability where they strive to keep up with supply and demand and that kind of a thing, but they just haven’t historically, like some other markets like overbuilt. And then you get kind of this, uh, lull and, and growth and equity growth and that kind of a thing.
So kind of a good stable market, very similar to Memphis. Well, and the other thing that I think is so cool about this and this, this goes to. The entire sort of process of finding a purchase worthy property. Right. And this is one of those areas where, you know, Steve, we, we’ve talked a lot about it on the podcast, that people always talk about what market should I be in?
Right? And sometimes we like to say markets don’t matter. You know, returns and results do, and that’s why we say, look, it’s not just about a geographical area from the standpoint of what everybody else is saying or you know, some large metric. We wanna go and find purchase worthy properties, which for us, Is defined by purchase price, by potential cash flow, by whether or not, you know, it’s a tax friendly and landlord friendly state.
We wanna make sure that it’s in neighborhoods and areas where we’re finding those three bed, two bath, two car garage, you know, nice neighborhoods where it attracts a good tenant, where it can command a solid rent. And by doing that, What’s so cool is it changes the conversation around where should I be investing in real estate?
You know, Steven, I’ve said it a hundred times if we’ve said it a million times, if maybe we’ve said it tw I, we’ve said it so much that real estate purchased and held onto for a long enough period of time is always gonna put you in a positive column assuming you don’t make stupid decisions and you don’t sell it at the wrong time.
Right? That’s why we say that when is the right time to buy real estate? It’s always the right time to buy real. But what’s so cool is I think that traditional real estate, and Gary, you could speak to this more than anybody, I think because of, I don’t know if we’ve talked about your background, Gary, of how much real estate investing you’ve done in your life.
I mean, you personally have done an unbelievable amount of real estate, Ev. You have run the gamut. Everything that you could think. In the real estate investment world, Gary has done and been successful at, as well as had plenty of failures and mistakes that have been made along the way, which is what makes him a great investor.
But Gary, wouldn’t you say, I mean, you go to all these, you know, real estate investors, associations, and you’ve been interacting with real estate investors for the longest time. When we shift the conversation around real estate investing to purchase worthy properties, to finding properties and neighborhoods that’ll just flat out perform for a client that’s gonna hang onto that property long term, it changes things, right?
You could find successful real estate investors in every single city. In every single state in the union, right? But w we have a tendency when we look at real estate investing or when we hear real estate gurus or we read real estate books that we have to, we think we’ve gotta go invest in beach property, or we’ve gotta go invest in this market.
Or everybody’s trying to find the cool little trick of where’s the market moving and where are we going? I feel like one of the things that we’ve been able to do successfully for our clients at Dun for real estate and with this podcast Replace Your IS income. I hope that it’s shifting everybody’s mentality to realize it doesn’t matter where you buy real estate, as long as it’s a purchase worthy property.
It checks the boxes and the strategy you’re employing with that property is one that works over the long. You know, Steve and I visited a couple of my brother-in-law’s properties in Enoch, Utah. How many of you have been to Enoch, Utah, the thriving, booming metropolis of Enoch, Utah. He crushes it with his rentals, right?
And the reason is, if you utilize the kinds of principles that we talk about here on Replace Your Income, you can be a successful real estate investor and it doesn’t matter what the market is. This is cool cuz how many here? Unless you’ve been through or you’ve lived in South Haven. Was it Olive Garden?
I’m just kidding. Olive Branch, right? . Um, how many have been like, Oh man, I can’t wait to own me some property out there in South Haven, they’re Olive Branch. Nope. It’s rare that somebody would say that, but when you look at it for what it is, which is a purchase worthy property, that will be a wonderfully performing real estate investment over the long run.
When you apply a system to it, it makes a big difference. Yeah. You know, Kevin, the key word is purchase. And another keyword you mentioned is a checklist. It’s one thing to say, I gotta go be in this market. And that’s a thing, you know, it’s, it is a thing. We’re, we’re in Oklahoma City, we’re in Memphis, we’re in Charlotte, North Carolina.
We’re in South Haven, Mississippi. Now, to be in the market is one thing, but to be a purchase worthy property in that market is a whole different story. So, and I have friends that have gone and bought properties in remote areas that they bought site unseen. I’ve done it. 15 years ago, I was buying property site unseen in San Diego, and I was a little kid in Idaho and I didn’t know anything.
And, uh, thankfully that one went well, but I bought others in Montana and I had to lick my wounds and pay dearly for, for those mistakes that I had made. And so, you know, I have a friend about 30 homes in like three Midwest states. And then he went out to look at ’em and he realized, oh, well these weren’t purchased worthy at all.
They were in the market. They were noted, worthy in the market that I went to. What makes a purchase worthy home for, for you? And this is the brilliance of what you guys together, which is why I happi and in and steady I with you guys worth is, is, you know, we’re vetting these. With property management and real estate agents that are professionals that are, that are in these markets.
So yes, while you may buy sight on scene, it’s not sight on scene for the professionals that are helping that on your team. You know, we’re not buying properties, have telephones and in the’re not buying single family homes, but up against apartment complexes or industrial complexes or commercial buildings.
You’re not, you’re not behind a Walmart with your backyard on a big brick wall. We’re not the first home in a subdivision off busy. We don’t have home you. You’re not on a busy road. Your home isn’t the backyard to a busy road you we’re in. The subdivisions, we’re in the right school districts. We’re inside the subdivisions where you know you wanna be not on the edges where all the traffic is.
And so when you look at all those things, you then are, and now you’re making this little checklist, we’re checking these boxes. Of course it’s a three bedroom, two bath, or better. But what about all the other boxes that I was just mentioning? All the other parts on that checklist that are important to look into.
So when you do purchase your home site on scene, which most of our clients do, you’re getting a quality property in a quality neighborhood, in a quality school district. And that is what makes investing with real estate such an easy decision for the. Which is also why I don’t remember how many hours, I think it’s like 60% of your purchases or repurchases from current, happy, satisfied clients.
You can tell me if that’s accurate, but that’s what I mean to, you know, having a note purchase worthy property. Yeah, I Thanks so much, Gary, and that, I mean, it’s such good detail and so let’s run down again. Why are we in Mississippi? What do we love about it? And let’s just kind of recap that as we conclude the episode.
And then if you’re listening to replace your income and you’ve been sitting on the sidelines and you’re like, Okay, you know what, Mississippi finally won me over. It’s go time. Give us a call, let’s talk. Um, we’re gonna be there, uh, hopefully starting May 1st, but we’re really excited about this. So let’s just do a rundown.
Why, Let’s go through this, Steve, talk about why are we looking for other markets to go and help clients, Because I think that’s just a, a principle that’s important cuz we can touch on supply and demand and what’s going on. And then let’s run down again, what is it we like about South Haven? What is it that we like about Olive of Branch and the benefits of being as close to Memphis as it is?
And then let’s wrap the. Okay, I’ll talk to the Y and Kevin and, uh, Gary can talk to, uh, some of the different features and benefits of the Mississippi market. The why we’re going to, uh, Mississippi is there’s power and diversification. There’s power in having multiple locations where you can move from one market to another, and there’s also power in having additional inventory.
As a number of people who are coming to us to take advantage of the services and the the program that we have to offer, we have to have more inventory. We like the idea of not being like all our eggs in one basket, right? And so, you know, we may have a handful of properties closed in one market and a handful and in another market.
And when you add ’em all up, you know, it adds up to a pretty significant number. And so this is one of our efforts to provide some diversification to our. And to, uh, provide additional inventory. One of the biggest challenges in the market that exists today is access to inventory, and quite frankly, Especially in today’s economic situation, inventory is probably one of the, the key factors and issues that individuals are having right now is just finding properties that they can buy.
That is one of the most difficult things in today’s world, and so this is one of our efforts to accommodate our clients and, and to be able to provide the value that our clients. So, Gary, if you wanna just, uh, run down some of the list features, benefits of the Mississippi market, then uh, Kevin can wrap things up.
Sure. And as you’re doing that, Gary, let’s talk just briefly about like what are we seeing in terms of purchase price, projected cash flow. You know, these are gonna be generalizations, but I think everybody will kind of be wondering, Oh, is it way cheaper market? Is it a more expensive market? Is it like the, you know, kind of what, you know, we could go and look at on the website for Memphis, so maybe touch on that as well.
Yeah, actually that was pretty much what I was gonna touch on because that’s what makes it perfect. Kinda a, a unique thing. I remember when, when you guys first reached out to me a year ago, last month, I know Steve earlier you were like, you know, Hey Gary, you’re, you’re in Idaho Falls. You’re from that area.
We always could use more inventory. We know you. We like you, we trust you know us. You like, How about we find some homes in Idaho Falls for our clients? And I’m like, Okay, this is exactly why we’re in South Haven, Mississippi and not Idaho Falls. There’s nothing wrong with Idaho Falls. It’s a great area.
It’s a great market. Just like there’s nothing wrong with South Haven, Mississippi. But there’s a big problem in Idaho Falls for a done for you scalable model that would prefer provide you an inventory that would make sense to an investor, and that is price points mixed with taxes, mixed with rents. When you put it all together, you can’t pencil out a perform that makes sense to invest in a market where your three bedroom, two bath home is selling for $500,000.
And the same home in another market such as South Mississippi is selling for, you know, $300,000. And is getting the same rent, maybe even a little, a little better rent. But it also has lower property taxes and so the performance out and it makes sense to be in that market. So we’re not just picking markets because for the of it, because to Memphis, and we could just kind plug into it.
That’s a benefit, that’s a bonus, but that’s not why we picked it. We picked it because the price points make sense. It’s a little less expensive to be in Mississippi than Memphis. We’re already in Memphis. You have this pretty much the same rents, a little less expensive price points and less expensive taxes.
So Mississippi makes sense. And in particular, South Haven and Olive Branch and our surrounding areas, we already have our infrastructure across the border in Memphis. So that’s, we’re in this market, easy
market’s wise, and numbers match. Numbers make sense. That’s awesome. And then in terms of rents, what are we seeing for the rental market? What does the rental market look like? A typical three bedroom, two bath rents for 7,050 a month. That’s why we’re there. I’m just kidding. So how cool would that be? I won’t speak to rents on the podcast on the, cause I don’t wanna be held accountable for it.
Um, you know, I don’t wanna set expectations for people and or unmet, but youll find it to be similar to which went our website right now and looked at the Memphis market would see very similar numbers. Yep. And that’s all I wanted to touch on is that, you know, you, you’re gonna see similar numbers from that standpoint.
So, I mean, you could go and look at the Memphis market, you’re gonna see similar types. Properties and you’re gonna see similar types of rents. But then we’ve got slightly lower taxes just across that little invisible line, um, that can potentially increase cash flow, but still give you all the benefits. I mean, we’ve been in Memphis for years.
We love that market. Our clients love that market. So anyway, we are so excited to be able to make this announcement to let everybody know that Mississippi is right around the corner. Gary, thank you for your exceptional work. And we’re, by the way, we’re not done. I mean, we’re gonna have, I guarantee you’re gonna hear some more of these podcasts.
Replace your income listeners as we make other announcements of little, maybe not even that well known markets as we are looking to expand the footprint of what done for you real estate. Do for folks and how we can help people. And so we will continue to have episodes like this. So everybody stay tuned because this is gonna continue to be really exciting.
Continue to be really good. Gary continues to get after it at such an incredible level. We are so excited to be able to open this area and to be able to add this to kind of the overall offering of what done for you real estate has to offer. And let me just remind everybody. Whether you’re in Memphis or South Haven or Indianapolis or Oklahoma City or Florida or what any of the markets where we may be helping clients invest, it doesn’t matter that much which market you’re in.
What matters is that that property is a purchase worthy property. One of the things we don’t ever want somebody to feel is this, this kind of crippling sort of paralysis that comes from analysis, Oh, should I be in this market? Should I be in this state? Here’s the. Doing real estate this way, you know, utilizing micro wins and utilizing real estate singles means that regardless of which market you may be, The property is a real estate single.
It’s going to perform over time and it’s gonna perform right out the gate as well. It’s gonna be something that can make a temporary and especially a long term financial impact in your life. And so if we announce markets as we continue to expand, the beauty is you don’t have to take that and say, Oh my gosh, which market should I be in?
It’s quite simple. The market that you should be in is the one where you can go find a purchase worthy property that works for you and your family, regardless of where that may be located on a map. Steve, any last. Uh, no, I think we’re good to go. This has been, uh, a fun, uh, conversation to, uh, introduce, uh, Gary in, in this new position and to introduce Mississippi as our most recent market.
And, uh, we’re excited in the coming weeks to introduce some additional markets as well. Yep. I cannot wait to announce The Bahamas. That is super cool. It’s gonna be so fun. . Yes, kidding. All right everybody, thank you so much for tuning in. Thank you for listening to Replace Your Income. Thank you to Gary R National, cuz I’m gonna keep saying it.
Director of Market Operations. Thanks Steve for popping on. We’re excited to have this podcast go out. We’re excited to talk to you guys. Please feel free to reach out, shoot us an email, shoot us. Let us know if you’re interested in seeing, uh, what Mississippi might have to offer, especially if you’re looking at your next property.
And we will be happy to chat with you then. So for now, we’ll sign off and we’ll talk to you real soon. Have a good weekend. Thanks for joining us on Replace Your Income with Kevin and Steve. Do you wanna learn more about our company done for you real estate and to see if you qualify right now today to begin replacing your.
Simple and conservative real estate investing done for you. Visit DFY intro.com. Click the orange button, watch our super quick webinar, and fill out the little form on the right side of the page. You’ll know within 60 seconds if you qualify to begin replacing your income. Right away. As always, please rate, review and share the podcast with friends and family.
And until next time, just remember income replacement for you and your family may only be one property away. See you next week.
