One month experiences in Jacksonville FL Market.

[Yuhung Lin]

When I decided to move to Jacksonville FL,  I joined the meet up group of JAXREIM. Through so many deals post and the discussion, I really found out what is the Jacksonville market looks like? First of all, today's market is extremely competitive, good deal is really hard to find in Phoenix and Jax here, took me half year to understand. But the way these investors doing business is : constantly there will have lot of wholesalers finding cheap properties in the so-called 2-3 grade neighbor hood, they earn the wholesaler fee and the flipper buy the house and only renovate enough to looks nice, spend 20-30k at most and earn 10 to 20k most from the transaction after selling the house. They try to repeat what they do as soon as possible so that the small margin they earn from investing can accumulate good enough to their goals (good wholesaler can have 30 deals a year). The resell seems no problem and the properties under contract from the wholesaler just keep coming up. Made me realize this is really a turnkey market because lost of people looking for the cheap houses (80-160k) and a huge population of people live here are in need looking of rental properties.      

[Eric Delcol]

I can echo your findings. We decided on a different market (Tampa) as a result.

Jax economy is more lower middle class compared to Orlando / Tampa / Miami. Tourism demand is much lower compared to other FL cities.

There's nothing wrong with that - but it doesn't fit our model. On top of that - lots of competition as you mentioned.