New Investor in Daytona - Jacksonville

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New Investor in Daytona - Jacksonville

Mark Rawls
Ormond Beach, FL · Member since 2015 · 17 posts · 5 votes

Hello BiggerPockets, I'm a new prospective real estate investor currently living/working in the Ormond/Daytona Beach area as a mechanical engineer. I'm trying to decide between Jacksonville and the Ormond/Daytona Beach area to invest in. I'm looking to become a buy n hold investor, but am not averse to flips and renovations. I'm a naturally handy hard working guy who is looking to put my mind and work ethic to better use after my 9 to 5 job, which don't get me wrong is a pretty great job. I have been reading and watching the podcasts as well and am excited to network and meet other investors, agents, contractors etc. to possibly collaborate with in the future. If there is anyone in my area, feel free to send me a message as I'm looking to become involved in my community. 

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Louis Puma
Real Estate Investor · West Palm Beach, FL · Member since 2015 · 11 posts · 3 votes
11y

Hey Mark welcome aboard! I'm in a similar situation as you...prospective real estate investor (newbie) working a 9-5 and reading a lot of books and listening to a lot of podcasts. I'm in the south florida area which is a pretty tough market for new RE investors to break into unless you have a lot of capital. From what I hear the market is a lot different up there in north Florida. Jacksonville seems to be a pretty booming. Best of luck!

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  • Louis Puma
    Real Estate Investor · West Palm Beach, FL · Member since 2015 · 11 posts · 3 votes
    11y

    Hey Mark welcome aboard! I'm in a similar situation as you...prospective real estate investor (newbie) working a 9-5 and reading a lot of books and listening to a lot of podcasts. I'm in the south florida area which is a pretty tough market for new RE investors to break into unless you have a lot of capital. From what I hear the market is a lot different up there in north Florida. Jacksonville seems to be a pretty booming. Best of luck!

    1Reply
  • Peterson Dierivot
    Residential Real Estate Agent · Jacksonville, FL · Member since 2014 · 22 posts · 6 votes
    11y

    Welcome to BP!! I am in the Jacksonville area. Take some time to look around the site! There's tons of information on BP!! Good luck! 

    0Reply
  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    11y

    @Mark Rawls

     Hi and welcome to BiggerPockets! It’s a great place to learn more about investing and meet the people you want to meet. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

    I have several investments in Jacksonville, although I live in Oregon.  I started my investing career there with a pretty great turn-key company.  

    0Reply
  • Jerald Alford
    Investor · Jacksonville, FL · Member since 2014 · 128 posts · 31 votes
    11y

    @Mark Rawls

    Hello Mark, welcome to BP, I'm a wholesaler in Jax, let me know what types of properties you are interested in should you decided on Jacksonville.

    0Reply
  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    11y

    Hey @Mark Rawls

    Welcome to BiggerPocket. These forums are a great way to start networking and getting mentors in REI.

    BiggerPockets
    0Reply
  • Mark Rawls
    OP
    Ormond Beach, FL · Member since 2015 · 17 posts · 5 votes
    11y

    @Larry Fried

    Thanks, I actually am considering a turn key company in Jacksonville as one possibility if I decide not to be driving up there every day during a reno or similar.  May I ask which company you worked with? Obviously you aren't allowed to throw it out there unless asked. 

    0Reply
  • Lindsay Diven
    Rental Property Investor · Gainesville, FL · Member since 2013 · 32 posts · 10 votes
    11y

    Hi Mark,

    Another newbie here from the Orlando area! We are just getting started to and look forward to learning from the BP community!

    Cheers!

    Lindsay

    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Mark Rawls

    Welcome. 

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

    Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

    To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

    0Reply
  • Maxwell Lee
    Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes
    11y

    Welcome! I'm a fan of Jax, obviously. :)

    0Reply
  • Mark Rawls
    OP
    Ormond Beach, FL · Member since 2015 · 17 posts · 5 votes
    11y

    @Maxwell Lee

    Have you been attending any meetings in Jacksonville with other BP members or investment groups?

    0Reply
  • Maxwell Lee
    Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes
    11y

    I go whenever I can, which means just 3 or 4 times since it began a little over a year ago. It's called the Masterminds Group on meetup.com, and it is sort of a mashup of the REIA and BP.

    1Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome to the site @Mark Rawls Bigger Pockets is the most innovative and educational site available to learn about real estate investing. 

    Wishing you the best!

    0Reply
  • Christian Marin
    Real Estate Broker · Orlando, FL · Member since 2014 · 153 posts · 73 votes
    11y

    Hello Mark,

    Welcome to Biggerpockets. May I ask why you chose the Jax area? It's a little far from Daytona. 

    0Reply
  • Mark Rawls
    OP
    Ormond Beach, FL · Member since 2015 · 17 posts · 5 votes
    11y

    @Christian Marin

    You are correct, it's a solid 1:00-1:15 from my house. I'm actually out your way in Orlando as much as I am in Jacksonville. I'm originally from Jacksonville and have family and friends there. I also know various areas of the city very well. which I feel decreases my risk as I have a better grip on where neighborhoods are headed which for buy and hold is important. 

    I'd like to meet up with some investors experienced in my area as well, but the property taxes in Volusia county are really high, like 1.5-1.75X what they are in Jacksonville, just running the numbers with all else being equal I feel like that's a disadvantage for buy and hold. Wouldn't really matter for flipping.

    0Reply
  • Justin Stamper
    Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
    11y

    Welcome! Jacksonville has a lot of real estate in need of repair. I hope you do well! 

    0Reply
  • Josh Rowley
    Rental Property Investor · Jacksonville, FL · Member since 2013 · 43 posts · 20 votes
    11y

    I live in Jax and am a member of jaxreia that has a main meeting every month with some additional training and meet ups in between.

    0Reply
  • Herb Carter
    Investor · Little Elm, TX · Member since 2015 · 15 posts · 0 votes
    11y

    Welcome to the site and good luck to you.

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Mark Rawls

    Welcome to Bigger Pockets. Consider sending messages to other members which is my favorite part of the website.

    0Reply
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