New investors in Jacksonville area

New investors in Jacksonville area

Member since 2024 · 24 posts · 14 votes

Hello all

My name is Steve and I’m a foreign investor looking to invest in Jacksonville, FL.

Me and my partner started our business January this year and it is our goal to make our first flip by the end of this year. 
We set up our infrastructure and are very organize and thorough, and through the year we made some significant progress and went on a learning phase to get better each day and closer to our first deal.

As foreign investors we have to rely on hard money which gives a less edge, and face uncertainty with contractors not knowing real pricing and such.

We are constantly on the look out for new investment opportunities.

The problems we are facing right now is not knowing good contractors and the high competition on the MLS.

We just started learning more about off market properties and sending direct mail.

We would like to hear from your experience what should our next step be as newbie investors, and if there are some foreign investors here with tips.


Thank you so much guys, best of luck to all! 

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Wholesaler · Jacksonville, FL · Member since 2019 · 74 posts · 42 votes
2y

Hi Avishay,

My wife and I both live and invest here in Jacksonville. She's a licensed agent, and I focus on the flipping side as well as acquiring off-market properties. We'd be happy to answer any questions you have about the Jacksonville market, neighborhoods, or anything else on your mind. Feel free to let us know what you're looking for, and we can set up a time to chat!

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  • Real Estate Broker · Member since 2024 · 129 posts · 60 votes
    2y

    Hey Steve,

    Congrats on starting this journey of real estate investing!  Its great to hear you're going the direct to seller route, its by far the method with the highest margins.  I've had the best success cold calling, but I know direct mailers work well too if you're sending a lot.  Be sure you're responding to them right away when they reach out to you, as well as have a great follow up sequence in place.  It's rare that sellers want to sell today, but if you follow up with them, when they are ready, you'll be the person they work with.  The fortune is in the follow up!

    I'm not in the Jacksonville market but let me know if there is anything I can do to help you out along the way.  Much success!

  • Rene HosmanPro Member
    Rental Property Investor · Denver, CO · Member since 2024 · 583 posts · 653 votes
    2y

    https://www.biggerpockets.com/forums/48/topics/1205475-start... This is a recent post about another foreign investor in Jacksonville, you both might be able to share some knowledge and resources in terms of who to hire and work with!

    BiggerPockets
  • Wholesaler · Jacksonville, FL · Member since 2019 · 74 posts · 42 votes
    2y

    Hi Avishay,

    My wife and I both live and invest here in Jacksonville. She's a licensed agent, and I focus on the flipping side as well as acquiring off-market properties. We'd be happy to answer any questions you have about the Jacksonville market, neighborhoods, or anything else on your mind. Feel free to let us know what you're looking for, and we can set up a time to chat!

  • Rental Property Investor · Jacksonville, FL · Member since 2024 · 50 posts · 43 votes
    2y

    Hi Avishnay, I know Andres and his wife Luz personally and they are a great resource to have in the Jacksonville community! My husband and I are also local to the area and primarily flip and hold rentals. We purchase a lot from wholesalers so I would recommend trying to get on as many wholesaler's lists as you can.

    With MLS, it is competitive here so I'd recommend trying to make your offer stand out amongst the others (i.e. great terms). Sellers want an easy guaranteed transaction.

    Good contractors are always hard to find. Cameron Gaskill with Suncoast Renovations is a great resource as he is a contractor and investor himself. He is not the cheapest but you get what you pay for.  

    Hope that helps!

  • Member since 2024 · 24 posts · 14 votes
    2y

    Thank you all for the replies and recommendations! Much appreciated !!

  • Wholesaler · Jacksonville, FL · Member since 2019 · 74 posts · 42 votes
    2y
    Quote from @Nelisa Lee:

    Hi Avishnay, I know Andres and his wife Luz personally and they are a great resource to have in the Jacksonville community! My husband and I are also local to the area and primarily flip and hold rentals. We purchase a lot from wholesalers so I would recommend trying to get on as many wholesaler's lists as you can.

    With MLS, it is competitive here so I'd recommend trying to make your offer stand out amongst the others (i.e. great terms). Sellers want an easy guaranteed transaction.

    Good contractors are always hard to find. Cameron Gaskill with Suncoast Renovations is a great resource as he is a contractor and investor himself. He is not the cheapest but you get what you pay for.  

    Hope that helps!


     Thank you, Nelisa!
    Same to you and Daniel.

  • Wholesaler · Jacksonville, FL · Member since 2023 · 15 posts · 5 votes
    2y

    Hey Avishay, I can agree, the competition on the MLS is brutal. I source off market distressed properties here in the Jacksonville market. Let's connect! I'd love to learn more about you and what you and your partner are looking for!

  • Property Manager · Orlando, FL · Member since 2016 · 479 posts · 277 votes
    2y

    @Nelisa Lee and @Andres Rodriguez we've bought 150+ units of MF in Jax and we still own and manage 51 units in Jax, and we also manage for other owners as well, fully licensed and insured. If you ever have any MF properties 2-80 units we'd love to take a look to acquire, and if you guys are ever in need of property management services we'd love to take a look and see if we would be a good fit for you and your properties. We manage also manage single family, condos, townhomes, etc on top of the MF properties. 

    @Avishay Stav finding flips anywhere on the MLS is going to be very difficult. Even finding deals through wholesalers can be tough and competitive as well. There are a lot of people who actively flip and the best wholesalers who actually have good deals (not all wholesalers are created equal) have a lot of buyers looking at their deals too. Like someone else said, your best margins are direct to owners, but that usually takes time and money to do so. It's probably easier, quicker, and smarter to do a few smaller margin deals through wholesalers, have some capital and then also start doing direct reach out yourself. That way you're building a track record and making some money until you can start to build up your own pipeline of deals to take down.

  • Rental Property Investor · Jacksonville, FL · Member since 2024 · 50 posts · 43 votes
    2y
    Quote from @Chris Grenzig:

    @Nelisa Lee and @Andres Rodriguez we've bought 150+ units of MF in Jax and we still own and manage 51 units in Jax, and we also manage for other owners as well, fully licensed and insured. If you ever have any MF properties 2-80 units we'd love to take a look to acquire, and if you guys are ever in need of property management services we'd love to take a look and see if we would be a good fit for you and your properties. We manage also manage single family, condos, townhomes, etc on top of the MF properties. 

    @Avishay Stav finding flips anywhere on the MLS is going to be very difficult. Even finding deals through wholesalers can be tough and competitive as well. There are a lot of people who actively flip and the best wholesalers who actually have good deals (not all wholesalers are created equal) have a lot of buyers looking at their deals too. Like someone else said, your best margins are direct to owners, but that usually takes time and money to do so. It's probably easier, quicker, and smarter to do a few smaller margin deals through wholesalers, have some capital and then also start doing direct reach out yourself. That way you're building a track record and making some money until you can start to build up your own pipeline of deals to take down.


     Great to meet you Chris! 

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