Mississippi has low house prices, no transfer tax and quick landlord remedies. It also keeps sale prices out of the public record and has only three areas big enough for most lenders' location rules. This page covers where our lending partners can finance, how to value a flip without public sale data, the landlord rules, and what Gulf Coast insurance does to the numbers.
Our lending partners' underwriting guidelines look for property within about 45 to 60 minutes of a metro area of 200,000 people or more. In Mississippi, three areas fit.
The Jackson metro: Jackson itself, Madison, Ridgeland, Brandon, Flowood, Pearl, Clinton and the rest of the Rankin and Madison county suburbs.
The Gulf Coast: Gulfport, Biloxi, Ocean Springs and D'Iberville, with Pascagoula and Moss Point on the edge of the Mobile metro as well.
The Memphis suburbs in DeSoto County: Southaven, Olive Branch, Horn Lake and Hernando, which sit inside the Memphis metro and share its buyer and renter pool.
Where it gets harder: Hattiesburg, Tupelo, Meridian, Columbus and the Delta are regional centers with smaller metros, most of them more than an hour from any of the three areas above. Check an address there before you commit money. Two rules apply everywhere: a finished value of at least $100,000, which excludes some of the state's lowest-priced neighborhoods, and a lot of two acres or less.
Mississippi is a non-disclosure state. Sale prices are not generally recorded in a way the public can search, so the tools investors elsewhere use to check a value, public records and automated estimates, are much weaker here.
That matters most for a flip, because the after-repair value sets both the size of the loan and the size of the profit. Build it from closed sales pulled from the multiple listing service by a local agent who works the neighborhood, and ask how each comparable was finished. The lender's appraiser will be working from the same kind of data, so a value you can support with real closed sales is a value that is likely to hold up.
No transfer tax. Mississippi does not tax the transfer of real estate, so a flip keeps money that would go to the state in many others.
Landlord rules that move quickly. Under the Mississippi Residential Landlord and Tenant Act, a landlord can give written notice that the lease will end if rent is not paid within three days. Evictions go through justice or county court. If a court grants possession based only on unpaid rent, the tenant can still stop the removal by paying everything owed by the court's move-out date, so a tenant who catches up keeps the unit.
Deposits. Mississippi does not cap the size of a security deposit. It must be returned within 45 days after the tenancy ends, the tenant gives back possession and asks for it, with an itemized list of any deductions.
No local rent control. Rents are set by the market and the lease.
Foreclosure by trustee sale. Mississippi generally forecloses outside court under a deed of trust, a faster process than the judicial foreclosure used in some states.
If your deal is in Harrison, Hancock or Jackson County, price the insurance before you price anything else. Wind coverage near the coast can cost far more than inland, and some properties need flood coverage too. Every lender, ours included, requires the property to be insured, so get real quotes during your inspection period. A Gulf Coast flip or rental that works on paper at inland insurance prices may not work at coastal ones.
No Mississippi county is on the list where our lending partners cap leverage at 50 percent, so standard terms apply wherever the location test is met.
Fix and flip and bridge loans: from $50,000, up to 100 percent of cost but no more than 70 percent of after-repair value, with a 600 minimum credit score. Standard pricing under the underwriting guidelines is 12.99 percent and 2.99 points. The 10.99 percent starting rate is available after two loans have been paid off in good standing with our lending partner; a first-time borrower should expect to start above it and earn the way down.
DSCR rental loans: $75,000 to $2 million at up to 80 percent of value, qualified on the rent, with rates from 5.99 percent on the program page.
Construction loans: $100,000 to $3 million on non-owner-occupied single-family homes, from 8.5 percent.
Loans close in an entity such as an LLC, and every owner of 30 percent or more personally guarantees the loan. Terms change, so we confirm them for your property before you commit.
Yes. Mississippi is one of the states our lending partners finance in. The property must be non-owner-occupied, have an after-repair value of at least $100,000, and sit within roughly 45 to 60 minutes of a metro area of 200,000 people or more, which covers the Jackson area, the Gulf Coast and the Memphis suburbs in DeSoto County.
No. Mississippi does not charge a state transfer tax when property is sold, which keeps more of a flip's margin than in states that tax both the purchase and the resale.
Yes. Sale prices are not generally part of Mississippi's public record, so you cannot reliably look up what nearby homes sold for. Use an agent with multiple listing service access to pull closed sales before you set your after-repair value.
The landlord can give written notice that the rental agreement will end if rent is not paid within three days. If a court later grants possession based only on unpaid rent, the tenant can still stop the removal by paying everything owed by the move-out date the court sets.
Forty-five days after the tenancy ends, the tenant returns possession and asks for the deposit, with a written itemized list of any deductions. Mississippi law does not cap the size of a security deposit.
Check the exact address. Our lending partners' guidelines look for property within about 45 to 60 minutes of a metro area of 200,000 people or more. Hattiesburg and Tupelo are regional centers with smaller metros that sit well over an hour from Jackson, Memphis or the Gulf Coast, so many properties there fall outside the guideline.
Holding a Mississippi rental? Our two free landlord books compare what a rental costs to carry across the states.
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Dominion Hard Money does not lend its own funds; it arranges financing through third-party lending partners. All financing is arranged for business purposes only and secured by non-owner-occupied investment property. Not a commitment to lend. All loans subject to underwriting, property review, and approval by the lender. Terms vary by property, borrower experience, and exit strategy.
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