Potential New Investor in the Jacksonville FL area

Jacksonville, Florida
New Member Introductions
1yFollow

Potential New Investor in the Jacksonville FL area

Michael Bengtson
Member since 2024 · 5 posts · 2 votes

I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area. 

I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.  I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.

The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:

  1. - What neighborhoods would you recommend for a first-time investor like myself?
  2. - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
    • How quickly do rental units typically get leased?
    • Is the market truly as promising as it seems, or are things over saturation?

I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.

Thanks! 

1Reply
34 views

Most Popular Reply

Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
1y

Reach out to @Elenis Camargo. She and her husband have run a brokerage and property management company in Jax for years and they know all of the areas very well. They will be able to give you some sage advice that would work for your specific buy box.

[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
Zen and the Art of Real Estate Investing59 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

12 Replies

Jump to latestLatest
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    1y

    Reach out to @Elenis Camargo. She and her husband have run a brokerage and property management company in Jax for years and they know all of the areas very well. They will be able to give you some sage advice that would work for your specific buy box.

    [email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    1Reply
  • Savannah Holzer
    Lender · Austin, TX · Member since 2023 · 233 posts · 96 votes
    1y

    Hey Michael - welcome to BP! It’s great to hear that you’re exploring real estate opportunities in Jacksonville, especially with your focus on Class B properties and military-friendly options. For first-time investors, neighborhoods like Riverside, Murray Hill, and North Jacksonville could be good places to start, offering strong rental demand and potential for growing neighborhoods. Regarding the market, short term rentals typically lease quickly as Jacksonville is one of the hotspots right now for STRs. 

    1Reply
  • Chris Grenzig
    Property Manager · Orlando, FL · Member since 2016 · 479 posts · 277 votes
    1y
    Quote from @Michael Bengtson:

    I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area. 

    I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.  I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.

    The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:

    1. - What neighborhoods would you recommend for a first-time investor like myself?
    2. - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
      • How quickly do rental units typically get leased?
      • Is the market truly as promising as it seems, or are things over saturation?

    I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.

    Thanks! 

     Hey @Michael Bengtson I can probably help. We’ve bought 150+ units in Jax that we owned and managed, we still own 51 units and we also manage for other owners. I lived there for 3 years but relocated to Orlando last year to be closer to family.

    I think Jacksonville is still good overall, but it’s tough to make rentals pencil right now. There has been a ton of new construction for housing the past 4 years and that’s why vacancy rates are 10-12% and rental rates have dropped the past couple of years. 

    Some solid areas to look at are:

    Riverside, Avondale, Murray Hill, San Marco, San Jose, Orange Park, southern part of west side, east Arlington, pockets of the Northside.

    I’m on my phone so a little tough to go in great detail, but you can message me and we can find a time to chat if you’re interested.

    0Reply
  • Michael Bengtson
    OP
    Member since 2024 · 5 posts · 2 votes
    1y
    Quote from @Jonathan Greene:

    Reach out to @Elenis Camargo. She and her husband have run a brokerage and property management company in Jax for years and they know all of the areas very well. They will be able to give you some sage advice that would work for your specific buy box.

    Johnathan - thank you for the tip. I will reach out to her and her company! 
    1Reply
  • Michael Bengtson
    OP
    Member since 2024 · 5 posts · 2 votes
    1y
    Quote from @Savannah Holzer:

    Hey Michael - welcome to BP! It’s great to hear that you’re exploring real estate opportunities in Jacksonville, especially with your focus on Class B properties and military-friendly options. For first-time investors, neighborhoods like Riverside, Murray Hill, and North Jacksonville could be good places to start, offering strong rental demand and potential for growing neighborhoods. Regarding the market, short term rentals typically lease quickly as Jacksonville is one of the hotspots right now for STRs. 


     Hello - thanks for the neighborhood recommendations! They do look promising for cost and location. I am interested for now on a LTR but I would be open to short term as we move along.  

    0Reply
  • Michael Bengtson
    OP
    Member since 2024 · 5 posts · 2 votes
    1y
    Quote from @Chris Grenzig:
    Quote from @Michael Bengtson:

    I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area. 

    I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.  I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.

    The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:

    1. - What neighborhoods would you recommend for a first-time investor like myself?
    2. - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
      • How quickly do rental units typically get leased?
      • Is the market truly as promising as it seems, or are things over saturation?

    I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.

    Thanks! 

     Hey @Michael Bengtson I can probably help. We’ve bought 150+ units in Jax that we owned and managed, we still own 51 units and we also manage for other owners. I lived there for 3 years but relocated to Orlando last year to be closer to family.

    I think Jacksonville is still good overall, but it’s tough to make rentals pencil right now. There has been a ton of new construction for housing the past 4 years and that’s why vacancy rates are 10-12% and rental rates have dropped the past couple of years. 

    Some solid areas to look at are:

    Riverside, Avondale, Murray Hill, San Marco, San Jose, Orange Park, southern part of west side, east Arlington, pockets of the Northside.

    I’m on my phone so a little tough to go in great detail, but you can message me and we can find a time to chat if you’re interested.

    Chris - thanks for the reply. I like the areas you mentioned - they look solid. 

    Interesting point about houses not really penciling out at the moment, I was coming to the same conclusion so I’m glad to hear I’m onto something. While I understand appreciation isn’t something I should necessarily bank on, but I am looking to hold for the long term and eventually relocate to the FL. So I may be okay breaking even the first year or two. 

    Do you invest in Orlando? Are there areas of specific interest? 

    Thanks! 
    0Reply
  • Michael Bengtson
    OP
    Member since 2024 · 5 posts · 2 votes
    1y
    Quote from @Mark Fries:

    Hi Michael 

    I am a rehab contractor/roofer here in Jacksonville FL and I am also an investor. Feel free to reach out if you need anything. I can be boots on the ground.


    Hi Mark - thanks for the reply and the offer. I will definitely be reaching out 
    0Reply
  • Jason CrowePro Member
    Real Estate Agent · Jacksonville, FL · Member since 2019 · 212 posts · 47 votes
    1y

    very well versed in Jacksonville.

    [email protected]
    0Reply
  • Chris Grenzig
    Property Manager · Orlando, FL · Member since 2016 · 479 posts · 277 votes
    1y
    Quote from @Michael Bengtson:
    Quote from @Chris Grenzig:
    Quote from @Michael Bengtson:

    I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area. 

    I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.  I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.

    The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:

    1. - What neighborhoods would you recommend for a first-time investor like myself?
    2. - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
      • How quickly do rental units typically get leased?
      • Is the market truly as promising as it seems, or are things over saturation?

    I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.

    Thanks! 

     Hey @Michael Bengtson I can probably help. We’ve bought 150+ units in Jax that we owned and managed, we still own 51 units and we also manage for other owners. I lived there for 3 years but relocated to Orlando last year to be closer to family.

    I think Jacksonville is still good overall, but it’s tough to make rentals pencil right now. There has been a ton of new construction for housing the past 4 years and that’s why vacancy rates are 10-12% and rental rates have dropped the past couple of years. 

    Some solid areas to look at are:

    Riverside, Avondale, Murray Hill, San Marco, San Jose, Orange Park, southern part of west side, east Arlington, pockets of the Northside.

    I’m on my phone so a little tough to go in great detail, but you can message me and we can find a time to chat if you’re interested.

    Chris - thanks for the reply. I like the areas you mentioned - they look solid. 

    Interesting point about houses not really penciling out at the moment, I was coming to the same conclusion so I’m glad to hear I’m onto something. While I understand appreciation isn’t something I should necessarily bank on, but I am looking to hold for the long term and eventually relocate to the FL. So I may be okay breaking even the first year or two. 

    Do you invest in Orlando? Are there areas of specific interest? 

    Thanks! 

     We haven't invested in Orlando yet, its similar to Jacksonville, although maybe rents haven't dropped as much. Much of Florida is in a similar boat, especially since insurance has 2-3x in the past 2-5 years. I don't know Orlando as well so I can't speak to interesting areas as well as I can Jacksonville, but there are plenty of interesting areas. I like Winter Garden, Maitland, SoDo, College Park, Longwood/Casselberry. I haven't explored too many areas further south of Orlando yet like Kissimmee, Lake Nona, and other areas around there to really say.

    0Reply
  • Chris Lu
    New to Real Estate · Jacksonville · Member since 2024 · 6 posts · 2 votes
    1y

    Hi Chris,

    Let me know if you're ever interested in having a discussion together. I am a new investor who has been looking into the Jax Beach area for STR / vacation homes as an out of state investor.

    I spent the last two weeks down there house hunting but didn't see a deal that made sense in my model, but would love to connect with another Jax investor. 

    0Reply
  • Anade Davis
    Member since 2024 · 20 posts · 8 votes
    1y

    @Michael BengtsonMy experience in orlando is most properties I have came across are inflated. I think the only way to go in orlando is offmarket, as close as you can get to the airport and/or college campuses. 

    Orlando is the most visited city in the USA. As it does have a lot of promise. HOAs have dominated Orlando.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free