BiggerPockets

Where To Buy A House In Jacksonville, Fl For Investment Purposes?

What is Jacksonville, FL city "Sweet Spot"?
The question of the day is where in Jacksonville to buy a houses?
In which areas of the city and what kind of houses to buy?
What are the reasons behind decisions to buy houses in those areas ?
 
First of all, let me start with a statement: "There is no such a thing as a "bad area to buy ". There are three categories that we look at:

Category 1 : Price
Category 2 : Terms
Category 3 : Area - is important but Price and Terms are the key to success.
 
You can find a good deal in any area of the city if this deal reflects right price and terms.

For resale purpose, you would  buy houses in those parts of the town that have the most sales although these areas ("Sweet Spots") change from time to time depending on market. 
 
So to answer your question: "Where to buy a house in Jacksonville ,FL or in any other city", you need to answer the question: "Where are most of the sales occurring right now and what is your exit strategy"?

If you are planing to do a rehab and sale it retail to a First time home buyer, Arlington zip32211/University Blvd zip32207 area and Cedar Hills , Avandale zip32205 and surrounding area are great places to invest in. As of December 2009, the most of the sales to the First Time Home Buyers occur in the above areas.
   Price range is based on the market value of houses in these areas. Right now it's $110K - $130K for the First time home buyers. This means that you as an investors buy in distressed properties (Short Sales, Foreclosure, REO, Auction sales, Subject to or Lease option) for the fraction of the price, renovate them if necessary and sell it to the First Time Home Buyer for profit.
   As an investor, you should consider to buy a house with a minimum of 3 bedroom and 2 bath. Exception for the houses with one bathroom only if you can add another bathroom to the existing house without changing SqFt to the house . Mainly reason for buying houses with a minimum of 3 bedroom and 2 bath is dictated by market (buyers) demand

If you are planing for a long term investing (Landlord strategy), Paxon area zip32208, some parts of downtown zip32206 are just some other examples of the areas with a large  number of sales. Price range of the houses in these areas is much lower which gives a good opportunity for High cash flow. Most of the sales are distressed properties (Foreclosures or Short Sales) with low potential for a quick resale to First Time Home Buyers but with great long term capabilities.

If you are planing to wholesale houses in Jacksonville, you can sell houses in any of the  above areas, but you will need to build a buyers list of landlords, rehabbers and First Time Home Buyers in order to flip houses quick and easy.

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