Advice in the Jacksonville Area

[Ashleigh Evans]

Hey BP!

I just moved to the Jacksonville area (military), and I'm looking for my second private residence that I will rent out in 2 years. I'm working with a realtor, and it just doesn't feel like I'll find a wise investment.

Jacksonville (especially in the beaches area, near the naval bases) isn't an area where people take care of their homes, so the amount you pay for a house that's really going to need a lot of work is astronomical.

Any advice? Alternatives to realtors maybe? Lessons learned? 

[Chris Hughes]

Worth noting however... I don't see prices going down any time soon in Jacksonville and the surrounding areas.  Big corporations are increasingly moving parts of their operations here and Jacksonville is continuing to grow rapidly.  Inventory is relatively low and many sales happen before a house reaches the market.  It may be a situation where if you want into the market, bite the bullet and pay the price.  If you're looking for something as a pure investment and don't mind waiting a few years to recoup anything you put into it, then look at the areas I mentioned above.  Or perhaps look north to Nassau or south to St Johns county.  There are still opportunities there's but those areas are being developed rapidly as well.  

I see Jacksonville as being on the precipice of a "golden age".  We have the same pieces of the puzzle that Charlotte had 10-15 years ago and Denver had 10 years ago. And look where they are now.  It will be up to our elected officials, city planners, and investor businessmen to make the pieces fit together properly.