Investor · Philadelphia · Member since 2020 · 27 posts · 16 votes
After some preliminary market analysis, Jacksonville seems to hit the sweet spot for me on several metrics. I'm a Miami-based residential (and hopefully soon, commercial) real estate investor and would love to transition to Jacksonville. I typically buy B-- to C class properties with the intention of improving them with moderate rehab + rent increases. In my current market I buy SFH and duplexes for around $80k - $200k.
Are there any Jax neighborhoods that sound similar to what I described above? I've researched and am planning a couple visits to Jacksonville next month but would love some boots on the ground insight beforehand. I'd also appreciate any insight on how you screen Jax-based property management companies, general contractors, and realtors. Anything unique to Jax I should be aware of when it comes to building a team there?
Hi @Harrison Lopes - I know several property managers, agents and turnkey providers in the Jacksonville area if you need some connections. We've been building a team and looking in that market for a year or so - have not been able to pull the trigger on something there quite yet but we're close and have a good start to a team. I know a hungry commercial broker in that area as well.
Currently I'm in the Frankford neighborhood of Philadelphia where you can still pick up some solid duplexes in mid to high $100k. I'd call it a C area so you'll have to be willing to put in the work (property and tenant) to turn in a profit.
$80k - $200k is the range I'm comfortable with based off my current budget, therefore that's what I'm looking for in Jax. There are a few duplexes in the MLS in north Springfield and near Moncrier, but after driving around there today, I'm not convinced they are good plays at this moment. Will have to do more research and dig deeper. If you have any insight, please do share!