Multi family deals

[Venkat Ravuri]

What’s the market is like in Jacksonville , FL?.

What’s fair to expect in-term of returns with the present prices and financing situation in 2023?.

[Bobby Larsen]

Largely dependent on the neighborhood and size you're referring to but the fundamentals of Jacksonville aren't great right now. They have a significant amount of new supply being delivered over the next 18 months so rent growth will likely be flat over that time. Combine that with insurance premiums skyrocketing and the overall market's challenge with interest rates, distressed properties are on the horizon. With that said, prices have already dropped significantly so the factors I just mentioned will lead to good long term buying opportunities. Overall, I just think that Jacksonville has a bit more challenges than most regions in the near term so prices probably have a bit further to fall but it's already 75%+ of the way there.