Hoboken, NJ · Member since 2017 · 12 posts · 2 votes
Hi all - I just got into the Bigger Pockets Podcast and it is amazing. A friend of mine and me are interested in purchasing what will hopefully be our first of many properties in the Jacksonville area (we are from NYC). Our goal for our first property, besides getting our feet wet, is to purchase a rental property that will cover the cost of our mortgage, taxes, HOA, if any, and hopefully provide a modest cash flow which could pay for unexpected expenses. Curious to see if anyone is doing the same and finding success.
Real Estate Agent · Orange Park, FL · Member since 2017 · 62 posts · 16 votes
9y
@Michael Carletta Thanks for that tidbit on the podcast! I just saved it on my BP app of shows to listen to next. I've been working my way up from #1 and occasionally listen to the recent podcasts, maybe once a week.
@Ben Strumeier I would also listen to podcast #8 with Al Williamson as he is a guru on building positive landlord/tenant relationships. I found some of his strategies on sustaining those relationships very profound. As you mentioned that you "just got into the Bigger Pockets Podcasts."
Hoboken, NJ · Member since 2017 · 12 posts · 2 votes
9y
Michael Carletta thanks for your note. We have a top golf near me. Really fun!
Do you have a sense of (a) where do UNF students typically live off campus(condos or houses), (b) how much typically 2 and 3 bedrooms condos rent for in that area and (c) the better communities in that area to buy?
I note that I've seen rents range from 1100 to 1600 for 3 BRs in similar areas with similar sizes over the last month or so and am curious as to why the range.
Last, do you have a sense for what is covered under the standard HOA in these communities?
Qualified Intermediary for 1031 Exchange" · Jacksonville, FL · Member since 2015 · 239 posts · 84 votes
9y
@Ben Strumeier I am a native of Jacksonville Florida and I have owned residential and commerical property in the area but currently I focus on self storage facilities almost exclusively and I cannot be more familiar or happy with the area. I have six residential condos and I have recently listed all six for sale and three of them sold with in the first week and the other three we have received offers on and are negotiating. I say that to say that the market for resale is nice as I owned these for around 2 years and made a nice profit on both as well as generated around a 13% annual return. My one piece of advice which I believe most people will agree with is that it is better to spend a little bit more to live in a higher end neighborhood where your vacancy is going to be less and your profit percentage might be less but you will make it up with resale value, less vacancy, higher rent and, most importantly, less headaches! Good Luck