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.
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.
Not sure where you are seeing these wonderful prices but I am going to guess these are prob high crime areas. If you don’t mind sharing what area you are looking at.
All the areas I focus on are so overpriced now that I can’t make any multifamily cash flow with just simple quick calcs.
Seems to me something needs to be bought off market here to get the deals. At least that has been what I have noticed recently. Unless they are scooped up so quick I don’t even see them.
I’m not familiar with the area at all. I seen this prices on Realtor. Idk how bad the neighborhoods are because I’m not from there. I’m trying to find out information about all this details.
@Maria Luna
Why not go south on I-5? Those areas are pretty cheap and you could check on them in a few hour drive. If you have had some success in the South Puget Sound why not leverage that to an area you know better? I have seen some stuff down there that I thought would be a good deal. PM me and I will send it over.
@Larry F. Hi Larry, it seems like you're having success with your turnkey properties, which is something I'm debating myself as an out of state investor.
Is it something you recommend or do you feel the convenience isn't quite worth the money left on the table?
I’m not familiar with the area at all. I seen this prices on Realtor. Idk how bad the neighborhoods are because I’m not from there. I’m trying to find out information about all this details.
Yes I understand. What’s the zip code you were looking at? Jacksonville is huge! Areas I personally would avoid (I know everyone is different ) but just north to northwest of downtown Jax for sure is off limits to me. I have done several Habitat for Humanity builds there and handing out T giving food and it’s not an area I would want to have investments. I am sure people can make money there but I don’t want to deal with high crime areas personally.
@Larry F - Did you potentially purchase your turn-key rental property in Jax from JWB? I'm exploring opportunities with them and looking for anyone who has had an experience with them. Thank you!
Did you potentially purchase your turn-key rental property in Jax from JWB? I'm exploring opportunities with them and looking for anyone who has had an experience with them. Thank you!
network with some wholesalers, and get drip on mls for specific criteria, ...numbers are good in jax. be open to some light rehab fix up, to not over pay?
I first invested out of state from Va into Raleigh NC..... then I did jax and St Augustine...but not those numbers you mentioned..
you should consider something with light rehab, and for 1% rule or better, as foundation... i think its there, jax is so big, ..pocket opportunities...
@Larry F. Hi Larry, it seems like you're having success with your turnkey properties, which is something I'm debating myself as an out of state investor.
Is it something you recommend or do you feel the convenience isn't quite worth the money left on the table?
It entirely depends on the circumstances and desires of the buyer. My turnkey purchases have worked out well, but I've walked away from some that looked like they weren't living up to what was promised. Today's markets are also much more competitive than even a couple of years ago.
@Maria Luna & @Simon Collins it all depends on the neighborhood in some zip codes. I have found 32208 has good returns on rental and has active rehabs. Some are being bought for 40 to 50k for rentals with 800 to 950 rental rates.
@Maria Luna you can invest anywhere and succeed. You just need to put a great team together in that market. Once you do that and become an expert in the market you will be able to look at deals and be competitive!