Updated about 7 years ago on . Most recent reply
Jacksonville Florida area
Hello everyone, I am moving to the Jacksonville Florida area in the next couple of months. I have been watching the housing market for awhile now. I noticed there are alot of flip opportunities around the downtown Jax area that stay on the market for awhile. Is there anyone that has any experience or knowledge of the flipping market in the area. I noticed some of the flip opportunities have been started but not finished. What are the obstacles and struggles that flippers face in the area? I have alot of experience in construction and am planning on flipping in the area. I would appreciate any advice and would like to connect with people in the area.
Most Popular Reply
“What are obstacles flippers in the area face?”
Substantial amounts of property crime (also violent crime in certain areas). Restrictions on rehab specifics in historical areas such as Springfield. Terrible comps, lots of inventory.
You stated in your post that the houses sit on the market for a long time. That’s really all you need to know as a flipper.
32202, 32206, 32208, 32209 are not zips to work unless you know that areas very well or have intentions of holding lots of low end rentals.
Springfield in particular, has allegedly been on the come up for 20 years. Lots of folks have bought property banking on appreciation and it simply hasn’t happened so they lose their *** and the property just sits. There are some beautiful properties there but they involve massive risk.