Tampa and Jacksonville FL

8 Replies

I am a newbie looking at Orlando. Then in some of my previous threads, lots of people mentioned Tampa and Jacksonville.

So I figured, wth, I'll just take a look. And Wow! Huge, newer houses for super cheap. I couldn't even wrap my head around that. Granted, a lot of the school ratings seem to be abysmal. But some were acceptable.

Obviously, something's causing their markets to get like that. Can some of the pros here shed some light?

What would be a good strategy to invest in these two places? Cash flow or flip?

Honestly, for a newbie that has limited budget ($150k), and wants to make the most bang for the buck, these properties look very tempting. (on paper at least)

@Han Gu


Welcome to BP! Its a great place for real estate investing. You cannot just go buy the price of the property and the school ratings. Granted that 10/10 school ratings on great schools may imply a good area but you have see overall whats driving the growth in that area, how are prospects of the area in general, what kind of population growth has happened in the past year, is it mainly owner occupied area or renters area, the demographics, is the area over developed for its demand, etc. You can read CAFR (Comprehensive Annual Financial Report) for the area to find out more information about the biggest employers etc.

I see that you are from Long Island... with 150k, you can get decent deals here if you willing to take leverage.

@Han Gu

Welcome to Bigger Pockets. BP is a treasure chest full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.

Hey @Han Gu , welcome to BP and the wide world of investing!

@Pancham Gupta makes some good points, properties are cheaper in parts of Jacksonville and Tampa, but it just depends on your long term investing goals.  Cash-flow, appreciation, etc...

I'm partial to Orlando because because I live and invest here, but I think there are some good deals to be had all over the state.

To Pancham's point, I like Orlando because of the industry growth, development and infrastructure improvements I see happening:

http://www.bizjournals.com/orlando/print-edition/2...

http://www.bizjournals.com/orlando/morning_call/20...

While 150k may be a limited budget, there are plenty of BP'ers that would kill (not literally I hope) to have that kind of capital to work with.  I'm currently working with equity partners starting around 100k, and we are doing some awesome things down here by acquiring undervalued properties and leveraging them to grow our portfolios.

Here are a few tips to get the most out of BP:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other NY investors:).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in. 

@Han Gu Hi and welcome to BP! I can't speak to Orlando, but I have several investments in Jacksonville, including a new build 4/2 that I purchased for $95k.  The JAX market has seen good appreciation over the last few years I've been investing there, so that kind of pricing is history. It is actually the largest city in Florida, but historically it has not seen the kind of investments or economy growth that you see in South Florida beach communities. Still JAX got hit hard by the 2008 recession and foreclosures, land became dirt cheap (pun intended).  There are some ongoing efforts to redevelop the downtown waterfront area into a really vibrant place, there are several military bases there, and a lot of promise for continued employment growth.  I think it is a good place to invest.

This post has been removed.

welcome

@Han Gu

Good luck down here in FL..  Jax is a funny market..  Learn the area and follow the Hipster gen, they're revitalizing part of the hoods, great potential.  

Roslyn?    I went twos hook in Roslyn, I miss it

Originally posted by @Kurt Traynor :

welcome

@Han Gu

Good luck down here in FL..  Jax is a funny market..  Learn the area and follow the Hipster gen, they're revitalizing part of the hoods, great potential.  

Roslyn?    I went twos hook in Roslyn, I miss it

 LOL...I know tons of hipsters...and I DO follow them with our investments. Very mutually beneficial so far!

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