I would like to purchase an investment property in Biloxi near the casinos. I would some thoughts on what to

Asked by Keith Haegele, Tue Feb 19, 2008

consider, pros and cons, etc in order to help me with due diligence. thanks

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Sandra J.K.…, Agent, Gulfport, MS
Tue Aug 20, 2013
More than 35 properties under 100K in Biloxi that are minutes from Casinos if you want to do straight rentals and for multifamily 5 properties under 150K....check it out at http://www.yourmshome.com
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rachael rich…, Home Seller, 39530
Sun Jul 1, 2012
Pros......prices have never been better.
Cons....you probably need cash
How about a B and B?
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Voices Member, , Biloxi, MS
Wed Jul 21, 2010
Keith, I have a condominium listed in Biloxi near beach and casinos. 15 units total, each 1200 sq ft. I would love to send you more information. Please call me at 228-238-4475, Rhonda Black-Realtor, Coldwell Banker Alfonso Realty. Email: rhonda@rhondablack.net
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Kathy Savelio, Both Buyer And Seller, Biloxi, MS
Sat Aug 8, 2009
buy my house. Its a 3 bedroom 2 bath with above ground pool put in last year...right off Popps Ferry Rd. In the Windsor Hill Subdivision. I don't even have my house up for sale but we would sell if the right offer came in..which is paying for closing and payoff of our home.. We are military and need to sell. Its a great house to buy and use for a rental. We are high and dry also. Minimal damage from Katrina..just needed a new roof which we did replace. We only want our payoff and buyer to pay for closing. If you or anyone is interested..let me know. 125,000 is the payoff.
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Suzi Gravens…, , Biloxi, MS
Tue Jul 14, 2009
Keith, it would be interesting to hear what you did. I found the responses a bit amusing; if not perplexing; --including my own. My, how things change. REALTORS, we pay a referral spiff upon move in.
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Amy Olier, , Biloxi, MS
Thu May 8, 2008
Investing in the MS Gulf Coast is a wise decision.

Pros: Rental market is up.
Military transfers at Keesler AFB (Biloxi) and Seebee Base (Gulfport) also FEMA trailers are being
evacuated and they need a place to live.
Buyers Market!!
Real Estate is a wise decision.

Cons: Cost of Insurance, just be careful of where you purchase.

Think about investing in a property with tenants already in place with at least a one year lease.

I am a life long resident of Biloxi, MS and very aware of the current market conditions. I receive a minimum of 10 rental calls a day. Potential renters are looking for 2/3 bedroom 2 bath, convenience location (most desired cites for renters: Biloxi, St Martin, and Ocean Springs), and pet friendly. If you buy it, they will rent. I have the renters, I just need the HOMES to put them in. My agency has in-house property management services.

If you have any questions or would like to discuss the current market, please call me at 228-697-2816.

Thank you,
Amy Olier
Century 21 Bay South Realty, Inc.
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Steven Carter, Both Buyer And Seller, Biloxi, MS
Wed Mar 19, 2008
I own 8.2 acres on Biloxi Bay, Zoned WF (casino zoning) as well the permits to build. I had it sold and the buyer has got himself in trouble and is unwilling to close. The property is available now and is priced below $1,000,000 per acre for quick sale and will to do some owner financing with down payment. Contact steven.carter4@att.net
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Dell Palmer, , Mississippi
Sat Mar 15, 2008
I have opportunities that are unmatched. Great locations, tenant waiting lists, cash back opportunities from the government, guaranteed cash flow. Write me at dell@msluxuryhomes.com. I will send you information.
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Suzi Gravens…, , Biloxi, MS
Sun Mar 9, 2008
Keith, again the opportunities are available for so many directions, I would need more information from you to begin narrowing the opportunities. If your needs are outside my expertise, I can introduce you to local practitioners specializing in your field of interest.. Keep in mind also that there is a sea of opportunity in for sale by owner properties. You have no idea until you are driving the area--unless you employee a person to be your Buyer Agent, Property Scout, ... Many FSBOS do not go into local publications or on the internet. I think they expect buyers to drive by and buy:-)
Web Reference:  http://mgcre.com
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ian cockburn, Agent, New Orleans, LA
Sat Mar 8, 2008
I have an RV Park for sale in Long Beach, MS. This is an established park generating significant income. email me for more info
Web Reference:  http://iansellsnola.com
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Suzi Gravens…, , Biloxi, MS
Fri Mar 7, 2008
Keith, excellent answers from Real Estate Pro in California. I am licensed in MS and live/work the MS Gulf Coast. Obviously, you use the Internet. I suggest visiting http://mississippi.org http://www.co.harrison.ms.us/ (you can sign up for email updates).
http://biloxi.ms.us/ http://biloxims.com That should get you started. Another source to view agent business/commercial listings would be http://loopnet.com . I provide a MS Gulf Coast MLS search at

Things are happening so fast here its unbelievable. If you need photos or any property investigated on your behalf, contact me if you wish.
Web Reference:  http://mgcre.com
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Zane Hirtzel, , Califorina
Wed Feb 27, 2008
Things to consider.

77 Million Baby boomers retiring in next 1 - 10 yrs. They are wealthy, love to travel and gamble. Biloxi will become the 2nd largest gaming destination by 2010.

Current Casinos in the area

Biloxi Casinos:
Beau Rivage Casino & Resort
Hard Rock Hotel and Casino
Silver Slipper
Island View
Hollywood Casino
Biloxi Grand
IP Casino Resort and Spa
Isle of Capri
Palace Casino Resort
Boomtown Casino
Treasure Bay

Breaking Ground & Proposed:

Related Articles:
USA Today Article—“Casinos bounce back in Biloxi building boom”
Link: http://www.usatoday.com/news/nation/2007-11-05-casino_N.htm

Gulf Coast News Article—“Update on Mississippi Casinos”
Link: http://www.gulfcoastnews.com/GCNnewsCasinoOpenings.htm

MSNBC Article “Katrina Dried up Rental Market”
Link: http://risingfromruin.msnbc.com/2007/05/rentals.html

CNN Article “A Tale of Two Cities: Biloxi and New Orleans”
Link: http://www.cnn.com/2007/US/08/29/katrina.twocities/index.html
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Zane Hirtzel, , Califorina
Wed Feb 27, 2008
Our company has tremendous investment property on the Gulf Coast.

These units are run as vacation rentals and are generating tremendous cashflow for our clients – over $600 mthly

Oak Shores - http://www.oakshoresbiloxi.com/
Harbor Landing – http://harborlandingcondos.com

Why Invest in Biloxi, MS?

In 2007, Biloxi was one of the top 3 best-performing housing markets in the US.

According to the OFHEO.gov, House Price Index report of the 1st quarter 2007, Biloxi-Gulfport ranked #6 for the greatest year over year appreciation in the country, appreciating at 16%.

A recent article on CNN Money’s web site lists Biloxi as one of the metropolitan areas unaffected by the nationwide real estate downturn.

Biloxi’s Booming Casino Economy - To date, 11 casinos have re-opened employing 17,000 people and another 14 have been permitted to open in the next 3 to 5 years. How many thousands of people will need to be employed with these new casinos? (Hint: The mayor predicts that 18 to 22 casinos will re-open in the next decade, requiring 40,000 employees).

GO ZONE Tax Benefit – 50% Bonus Depreciation

Consider this: If you buy one of the Oak Shores Studios at $109,900 and put 10% down, $10,900, you will see a 100% return on that investment in two to three weeks after closing; not in one to two years. Deposit is rebated back to you.

The seller will also allocate 2% towards your closing cost which is $2,180 and that would cover it.

$5,000 wholesale fee.
$109,900 sale price.
10% down payment = $10,900.
2% closing costs paid by the seller.
$10,900 designer credit rebated to you two to three weeks after closing = 100% cash return on your down payment.
$560 per month plus positive cash flow first year. (The second year it cash flows at $7,232; a 66% ROI.)
In less than 9 months, you have earned a 100% return on the $5,000 wholesale fee.
Your condominium is completely furnished including a 37” HD Flat Screen TV and down to the knives and forks. You own it all.
15.7% appreciation in 2007
Forbes / CNN predict a minimum of 50% appreciation in the next four to five years.
Receive the 50% GO ZONE Tax Benefit
Currently rents at 90% occupancy.
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