Rental Property Investor · Altamonte Springs, FL · Member since 2018 · 185 posts · 97 votes
Hello investor!
I have a question about investing out of state. Is Jacksonville FL, a good market for cash flow?? Does anybody has rental propeties there? I been looking online at properties there and the prices seem to be around my price range. I care about the cash flow, not some much about appreciation at this point. Any advice would be greatly appreciated.
If cashflow is all you care about Jacksonville sounds like a nice place to invest. you can check the price to rent ratio of cities Here and Jacksonville is pretty high up there.
I am also looking to get back into Jax. We owned a cash flowing rental in Arlington area that we bought in 2007... whoops, but then again who cares as long as it's cash flowing. Cash flow in Jax isn't too hard, and the city (or Duvall county rather) won't be sinking into oblivion any time soon. If cash flow is all you're after, Jax is just as good as most any other place.
Yes, my decision was pretty much based on price point. I currently owe two rentals in WA state. I have not evaluated any other markets. Any advice for me?
So, did you sold your rental? How soon are you looking to get back to investing in Jax? I’m really interested on either two unit duplex or small single houses.
@Maria Luna I would recommend that you also evaluate some other markets, since you are already keen on out-of-state investing. What is your price point that you're looking at? You can PM me if you want to discuss it further.
We sold it before I decided to jump into the REI world and truly learn about the ins/outs of it all. The sale reduced our debt by a great deal, but I wish I'd kept the cash flowing rental now. It took forever for the market to make it not underwater from the crash. Jax is pretty volitile compared to other markets, which is why I think that it's a better cash flow market if you want to invest there long term these days. Lots of folks invest primarily for appreciation, but that's too much like gambling to me - just invest in stocks.
So, did you sold your rental? How soon are you looking to get back to investing in Jax? I’m really interested on either two unit duplex or small single houses.
Any specific market that you can recommend? For a single family I would like to stay between 50k-60k. And for a four unit around 120k-140k. I seen this prices in C type neighborhoods in Jax.
Oh I see. Well, at least you learned a lot on the process. I been doing my research about the economy in Jax and I get a good feeling about investing there. I’m totally looking at this as a long term investment. If it appreciates with time then that’s great, but the initial deal has to make sense to me for the cash flow.
@Maria Luna, Good afternoon, unfortunately Stonebridge Groups does not acquire in Jacksonville, we do acquire in Central Florida, we offer property management, lending, and much more. We acquire 5-15 investment properties weekly. We can assist, and make sure there is success in Florida.
If cashflow is all you care about Jacksonville sounds like a nice place to invest. you can check the price to rent ratio of cities Here and Jacksonville is pretty high up there.
That’s good to know, and thankyou for sharing the services your company provides. I’m going to keep your information just in case that in the near future I decide to invest in your area.
@Maria Luna I have been investing in JAX since 2012, and prices have appreciated a lot since then, while rents have not kept pace, but also appreciated. I would question your evaluation of getting a rent ready SFR in a C area for $50-60k. Those properties are almost certainly going to be in very difficult areas, unless you are planning to buy something distressed and put a good deal into rehab. Classifications of course are very subjective, but in JAX, I would only consider properties that rent for $950 or more if you want to avoid riskier neighborhoods.
There are some $950 rents in areas I would not consider going at 12 AM to collect the rent, so don't use $$$ as your only gauge. Look at the crime stats for the areas as well when considering the property. I use the 12 AM rule as you may one day have to go to the property late at night.
So, what I’m looking for preferable is a property that is ready and has a tenant in place. I much rather not deal with a remodel at this time. Do you mind asking you about what price range are you getting the properties that rent for $950? I’m just trying to see what are my options. I really appreciate your advice and information.
So, what I’m looking for preferable is a property that is ready and has a tenant in place. I much rather not deal with a remodel at this time. Do you mind asking you about what price range are you getting the properties that rent for $950? I’m just trying to see what are my options. I really appreciate your advice and information.
Maria,
I am not currently buying properties in JAX, and just have what I've bought a few years ago. All of my properties are actually over $1,000 rents, and I bought them turnkey. One was actually new construction. I agree with Jack, you definitely have to look at the neighborhood in a deep way, not just the rent prices. I was just suggesting that the rent level as an initial filter. I think if you are look for essentially a turnkey property with tenant in place you are probably going to be looking around $115k and up. Make sure you work with a really reputable team.