Areas to invest in Jacksonville
Hi All,
I am doing some study in JAX and plan to do buy and hold strategy as a out of state investor.
Trying to find local PM and real estate agent who works with out of state investors, would appreciate if anyone can refer.
So far, I am looking into a few properties on west JAX in a small pocket surrounded by 3 highways (90, 10 & 295) in zip code 32220.
Anyone has suggestions on whether this is a good area for rental?
I noticed a large area in west JAX uses septic, wondering if anyone has experience on it. Whether you would avoid it or not.
Can you also suggest good areas for buy and hold?
Thanks!
Most properties if they have septic has Well also. There is no big concern with either. pumps will last for many years and will typically result in lower utility bills which is a plus for tenants. The downside is the pumps require power so unless you have a generator they won't work during s power outage. The septic tank also needs to be pumped about every 7-10 years but that only runs about 300 bucks around here. I have well and septic at my home and a rental not uncommon in rural areas here.
Thanks Nikia, if say the septic leaked, do you have liability on things like environmental damage or health issues?
Hi Nikia,
I invest in JAX and was wondering if you have any people you'd recommend for septic and well work. Inspections, maintenance, etc... A bit about your experience with them would also be helpful!
Hello to the group. I am based out of S. Fla. and have been up to Jax many times the past few months with many hundreds of miles driving various parts of each quadrant of Jax and have first hand knowledge. The advice I can offer is be very careful of where you buy, many areas will never see any appreciation and the issues with distressed properties and tax problems, etc. There are areas where you will start rehab on Monday and Tuesday you will do Mondays work all over again if you understand what I mean and "the list goes on and on" making it a real challenge. It is not impossible but it is definitely not quick and you need considerable time to stay on top of things. Even though I am only a few hours away, I have found it a challenge to keep up myself. (NOTE: I own and operate a small general contracting and restoration company which is very demanding on my time). I found a really great local realtor who has been able to visit some areas/properties and do initial research, etc. and then I drive up once we agree to move forward with an offer.
I wish you all the best of luck and I'm very excited about our personal plans of relocating to Jax within the next 12 months!
@Chris Guccione Thanks for sharing your experience.
Hope you have success investment and happy life in JAX!
Hi Richard,
I'm an out of state investor that has recently started buying properties in Jacksonville. I just sent you a message with realtor and PM info.
Good luck!
Tim
Hi Richard,
I gave a talk a week ago to an investor group that was in town on this very topic. Jacksonville is huge and has extraordinarily large and complex sub-markets. One of my slides specifically said:
Jacksonville is:
I would be happy to talk to you about the market here in Jax if you would like.
I wish you the best of luck with your real estate investments here in Jacksonville!
All the best,
Bill
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Originally posted by @Bill Dannheim:
Hi Richard,
I gave a talk a week ago to an investor group that was in town on this very topic. Jacksonville is huge and has extraordinarily large and complex sub-markets. One of my slides specifically said:
Jacksonville is:
Huge! Largest city in the nation – 747 square miles! Diverse! Large size creates extraordinary asset and sub-market diversity. Sub-markets! You must know and understand the dynamics of the sub-markets! I can't stress this enough. I see out-of-town investors come to the Jax market and become lured to certain areas/properties because they can buy a property with an 11% cap rate. But what I like to point out to folks is that there is a reason for that cap rate!! The cap rate tells a story, and in many cases that cap rate looks good on paper, but realizing the rate can be elusive!I would be happy to talk to you about the market here in Jax if you would like.
I wish you the best of luck with your real estate investments here in Jacksonville!
All the best,
Bill
Just look were Morris invest is selling properties and run as far away as possible LOL... I think the idea that west coast investors can do this remotely in this area is going to lead to a tremendous amount of lost money to these folks who have been sold this story ....
how about 32277?
looks like jax market is not slowing down at all --prices still going up-- any thoughts?
While the 2017 housing market was marked by renewed optimism fueled by stock market strength, higher wages and a competitive environment for home sales, 2018 delivered a more seasoned prudence toward residential real estate. Home buyers, now steeped in several years of rising prices and low inventory, became more selective in their purchase choices as housing affordability achieved a ten-year low.
Yet the appetite for home buying remained strong enough to drive prices upward in virtually all markets across the country. In fact, national home prices have risen 53 percent from February 2012 to September 2018. That mark is a less dramatic but still sizable 40 percent increase when inflation is factored in.
Originally posted by @Mark Fries:
32220 is a good area. stay away from the older mobile home spots.i have 4 single families in 32220...they do great.
How about 32277? And Ocala?
HI , looking for a property manager and a handyman for a SFH in Mid -westside . Any recommendations ?
thanks