Hey guys! I'm 24 years old, and new to the world of real estate investing. I just moved to Jax Beach, FL and am looking to start investing. I'm curious what people's experiences are here and in the surrounding area?
Real Estate Agent · Jacksonville, FL · Member since 2016 · 35 posts · 26 votes
6y
I would agree with Ryan as well. It's a great place to live, but returns are very limited. I actually rent my home in Jacksonville Beach, and use my capital to invest in better returning areas of the city.
Real Estate Broker · Jacksonville, FL · Member since 2014 · 78 posts · 54 votes
6y
From a buy and hold standpoint Jax Beach is going to fetch you extremely low returns compared to other areas of the city. The beaches have been an extremely hot area for years, I would expect to see cap rates in the 3-5% range when looking at the beaches.
Real Estate Agent · Jacksonville, FL · Member since 2016 · 35 posts · 26 votes
6y
I would agree with Ryan as well. It's a great place to live, but returns are very limited. I actually rent my home in Jacksonville Beach, and use my capital to invest in better returning areas of the city.
That's good to know! I appreciate the feedback. I had a feeling that would be the case due to the high price for homes at the beaches. What are some of the better returning areas of the city?
It's important to note that I'm looking to use a buy and hold strategy.
Investor · Jacksonville Beach, FL | NYC | Tamarindo Costa Rica · Member since 2014 · 182 posts · 130 votes
6y
@Brendan Nolan Jax area in general is great compared to other US markets - Beaches probably not so much. Being local, you have an advantage in that you can meet and get to know some of the wholesalers to learn the market and find the best deals. Start meeting people and looking at deals.
@Caroline C. Thanks Caroline! I'm definitely gonna focus on research and learning the market before I make any big moves. Do you know of any places where people meet up?
I see you have Tamarindo in your profile! I've been to Playa Hermosa (guantacaste) twice, and was looking at Costa Rica for vacation rentals. I'd love to chat about that as well!
Investor · Jacksonville Beach, FL · Member since 2017 · 12 posts · 13 votes
6y
Like everyone else said, you can do better in other parts of the city. We live in Atlantic Beach and invest all over the city. Our current primary home will become a rental soon when we move back to GA, but trying to figure out a way we can rent it for 3 months at a time to avoid the 90 day minimum AB has. If you could househack and STR the other unit, JB wouldn't be a bad idea. Check out Jax REIA and Yellowbird Connect!! Yellowbird is very active on fb too, since we can't really meet in person right now.
@Caroline C. Thanks Caroline! I'm definitely gonna focus on research and learning the market before I make any big moves. Do you know of any places where people meet up?
I see you have Tamarindo in your profile! I've been to Playa Hermosa (guantacaste) twice, and was looking at Costa Rica for vacation rentals. I'd love to chat about that as well!