Hi Jacksonville investors!
New to investing in Jax. Can you tell me the areas you are having the biggest success in and why? I'm looking for a safe area, with stable renters, and good cashflow. Appreciation is a plus.
I've been advised towards Brentwood and Springfield areas (Just north of downtown). Any locals have feedback on these areas as an investment?
Jax is getting pretty expensive right now for rental properties.
Have you checked out any other cities for cash flow?
I have been looking into the Jacksonville area for some time now. As we are also interested in investing in that area and we visit regularly. I also have some friends there. I think some good areas to look into are East Arlington, Springfield, Southside, San Marco. I'm still researching but look for the areas with zip codes 32245-32246-32205-32210-32207-32206-32202.
I have 29 years in the POST OFFICE in Jax and also an Investor. Have also lived here since 1975. If Springfield homes are renovated they will be expensive. If they arent renovated they will be old or ancient. I tell people to look in the 322 zip codes that border 320 zip codes by 1 or 2. Jax has 30 plus residential zip codes; It cant be generalized. Every zip code has its quirks but I prefer. 32210, 32205, 32207, 32211, 32225, 32222, 32244, 32216, 32217, 32218, 32226, 32223, 32246, 32220, 32221, 32234 for investment purposes. AMAZON is building 4 facilities here. PM me if you want
@Nicole S. There are always properties available. Having just had properties refinanced in 32205, my appraisers quoted between 90/sq and 130/sq in Murray Hill. Avondale is a bit more expensive, but homes are larger and Riverside is somewhere in between.
There are always homes available around town. You can get the Just listed or Expired listings from a Realtor for any area and get an idea of what things are selling for or sitting. With 30-year notes available and cheap cash, no matter what the Fed does in 2017/2018, there is no reason to think you cannot find a great property, make it cash flow and see it appreciate.
Best of luck to you and remember that no one can stop you, but yourself.
Some of the previous replies to this thread have been spot on. Although I advise people to stay away from Springfield (I've seen and heard of some horror stories over there), I do like Arlington, Southside, and Sandalwood areas. This all depends on what kind of investing you do and what your price range is, of course.
Feel free to PM me if you'd like to discuss further. I hope I can be a resource for you.
@Luke McCann I also advise to stay away from Springfield unless you like very large throbby headaches that stick around for months at a time. :) I only do design work in Springfield and that is a pain but investing wouldn’t even be a thought.
@Kevin Martin I was wondering why you don't like to invest in Springfield. We have been looking at properties in that area and thinking about doing some reno projects.
@Kirsten Braddock I don’t want to sound too pessimistic but almost every house I have seen in Springfield has literally been falling apart. The homes are >100 years old and are just a bear to renovate. Lots of foundation problems, wood rot, termite damage, poor workmanship, water damage ect ect. I understand there is a lot of history and character in each house which attracts buyers and its doing the neighborhood good but just expect to fight your way through the whole rehab. Or you can hire a contractor to deal with it all but expect a fair amount of unforeseen costs and bumps in the road. Everything else about Springfield is great and you get the opportunity to add a lot of value but just in my opinion the cons heavily outweigh the pros.
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