New investor need advise on Jacksonville Florida

[Ronen Avisar]

Shalom from Israel

My name is Ronen Avisar from Israel and I decided to try to change direction from a senior employee to an investor, to build a portfolio of real estate that will in the future create a passive income.

I visited US two weeks ago participating a strategic course in Stanford SF and had some time to investigate the US market in general.

I found many cities with cap rate as high as 6%-7% but many are in cold areas...

One city - Jacksonville highlighted because the median prices are about $175000 and the median rent is about $1250.

My strategy would be -Buy Rehab and Hold for the long run but for a start I would like to buy rehab and sell (flip) in order to gain confidence with the process and learn the rehab, buy, sell system and to make some short term success stories.

I am open for other warm locations and I am schedule next week for a 10 days in Jacksonville to learn the city and it’s potential.

I discussed with local US lenders (banks) and realized that as an Israeli (or non US citizen) I will not get credit from banks (only hard money) and that I need to find a local American partner for credit on houses. The business plan is based on $300000 - $400000 cash and if I can get a partner with high credit score I will be able to run a budget of $1200000 that will cover around 4-6 SFRs in the first year.

The idea is to start with SFR, duplex, and triplex just to gain confidence and to make the mistakes (or learn) on small scale and in some years to get the knowledge for big scale like commercial 50-100 and more doors.

For a start since I leave in Israel I am planning to buy a car and as the first deal to buy a duplex or a triplex for me to hold rent and live in (house hacking).

As to myself I am planning for the first year to be in Florida 2-3 week every month and with a good partner I believe that I will be able in two years to gain the confidence and to reduce my stay in US leaning on a good and trusted team and a very good partner.

If you are interesting to meet in Jacksonville and show me the city, rehab opportunities and advice, please reply and ill contact through your phone to schedule the meeting.

Here is my LinkedIn profile –

https://www.linkedin.com/in/ronen-avisar-62304015/

Thank you in advance,

Ronen Avisar