Investor · North Kingstown, RI · Member since 2015 · 65 posts · 33 votes
Well as the title states. I'm moving to Jacksonville/Atlantic Beach area. I've already been looking at houses and to your suggestion what is to much for a beginning venture? I've read a bunch of books and what to look for, and I know what I would like.
Speaking numbers in general I basically want to house hack. And do some renovations. Do the brrr effect basically.
Process. I'm going to use the VA loan. Should I start that process now? Does one have personal experience with using this type of loan where to go through?
Price. If it's profitable what's a good price with someone thats not going to be putting a DP down and has little cash equity.
I can look online, but would a realtor help at all?
Thank you all!
Real Estate Broker · Jacksonville, FL · Member since 2012 · 85 posts · 26 votes
9y
@Bradley Scruggs in general, there's not very much multi-family (1-4 unit) inventory available in the Arlington/East Arlington area. It just wasn't the thing to do when the area was developed back in the day. If that's what/where you're intent on buying, I'd get the tax records for each 1-4 unit property in the area and try to locate phone numbers for owners, then call them. It will take some time, but I know you'd get at least one good deal out of it.
Real Estate Broker · Jacksonville, FL · Member since 2012 · 85 posts · 26 votes
9y
Hey @Bradley Scruggs . House hacking is a realistic possibility out at the beach. Cash flow won't be great, but you could significantly subsidize your cost of living for a great location... There are plenty of well located multi-family properties in Atlantic, Neptune, and Jax Beaches... Feel free to PM me with questions
Investor · North Kingstown, RI · Member since 2015 · 65 posts · 33 votes
9y
Jeff Riber I've been looking for reasonable priced MF and for the life of me can't find them in the Arlington area. Everything seems to be on the west side of Jax, which would be quite the drive to work. And suggestions on locating?
Investor · Jacksonville Beach, FL · Member since 2016 · 33 posts · 9 votes
9y
Hey Bradley. Welcome to Jacksonville/Atlantic Beach. It's s great place to live. What properties are you looking into? I'd love to hear about them and help give you feedback on any potential deals.
Rental Property Investor · Treasure Coast, FL · Member since 2016 · 23 posts · 13 votes
9y
I was in JAX 10-25 to 11-8 and 11-15 to11-21 looking at SFHs, duplexes and quads and driving neigborhoods. Will be back 12-6 to12-13. Looked at a quad near the beach that was priced right but after viewing two of the four units left. It had be "remodeled/updated". The tile work was so bad it would all have to be removed, the kitchen were crap. I plan to move to JAX in March/April so I am not in a rush, but would like properties that cash flow.
Investor · North Kingstown, RI · Member since 2015 · 65 posts · 33 votes
9y
@Kurt Stein I've been looking at multi family homes but it doesn't seem they're many out there that fit my area or what I am actually looking for. Reason for multi family is because I'd love to house hack. I have found a couple SF homes that intrigue me. I have been looking in the Arlington/Atlantic beach area.
Real Estate Broker · Jacksonville, FL · Member since 2012 · 85 posts · 26 votes
9y
@Bradley Scruggs in general, there's not very much multi-family (1-4 unit) inventory available in the Arlington/East Arlington area. It just wasn't the thing to do when the area was developed back in the day. If that's what/where you're intent on buying, I'd get the tax records for each 1-4 unit property in the area and try to locate phone numbers for owners, then call them. It will take some time, but I know you'd get at least one good deal out of it.
Investor · North Kingstown, RI · Member since 2015 · 65 posts · 33 votes
9y
@Jeff Riber that sounds like a pretty good idea, where would I be able to look that up? possibly online or would have to go down to the tax collectors office in Jax?
Investor · Jacksonville Beach, FL · Member since 2012 · 80 posts · 18 votes
9y
@Bradley Scruggs Like @Jeff Riber said earlier, Arlington doesn't have many multis. The beaches have a bunch but they are pretty pricy. I know of a off market deal for 2 duplexes which could probably be had for 150k per. I have looked at both and they need WORK. Each unit is around 800 sq ft and gets $600/mth. Almost forgot it's in Atlantic Beach, west of Mayport Rd. I am not a wholeseller so I have no skin in this deal, in fact I passed on it as I can't make the numbers meet my criteria. PM me and I can pass it along.