I realize that these are all C/D class areas but are any of them considerably better or worse from a rental property investment standpoint in 2021? Any I should focus on or steer away from?
Lender · Jacksonville, FL · Member since 2021 · 20 posts · 3 votes
5y
All of these zip codes are a risker investment given the crime rate is quite high, but as long as you buy them right and screen tenants it can give you a good ROI. I'd say be careful the most with 32209 and 32208 as some pockets here are very dangerous, some people love 09 and 08, but just be careful. I think Arlington and Murray Hill are a good place to start.
Rental Property Investor · Jacksonville, FL · Member since 2015 · 342 posts · 142 votes
5y
@Lauren Ephrat Those zip codes vary street by street. I’m in 32254, 32205 and 32209. It’s all about what Tenants you place in your property and how you train them.
Rental Property Investor · Jacksonville, FL · Member since 2015 · 342 posts · 142 votes
5y
@Lauren Ephrat Yes. You have to put rules in place else they will run all over you. For example; tenants pay rent all online (Venmo, PayPal, Cash App, Direct Deposit) and I explain this prior to signing the lease.
You have to train tenants to abide by the rules and enforce them!
Flipper/Rehabber · Philadelphia · Member since 2017 · 25 posts · 3 votes
5y
Thank you for the specific information on Jville zip codes .I plan to enter this market in (1) year and it’s helpful to know exactly where and when to explore neighborhoods. Certainly want to contact all of you as fellow investors and resources.Have a great day .
Real Estate Agent · Jacksonville, FL · Member since 2015 · 26 posts · 15 votes
5y
@Lauren Ephrat hey I am a firefighter/ investor/ and real estate agent here in Jax. I can tell you what is a good area down to the block. And if I don’t know I can find out for you. Let me know if you need help
Thanks all! Glad to know I have some expertise and support in the Jacksonville area here. What are your thoughts on single family vs multi-family for rentals in Jax?
Realtor · Papillion, NE · Member since 2013 · 134 posts · 59 votes
5y
I thought I would participate in this discussion. :) I have thought about JAX, but I am not sold yet. ;) Can someone tell me the "good" zip codes/areas? For me, good is good schools, more modern newer homes, etc. As an OOS investor, a solid PM is KEY, which I am also in the hunt for, preferably a smaller company. I am looking for long-term buy and hold with quality renters. So, are there A/B neighborhoods you can get cash flow? But cash flow/1% rule are not as important as long-term appreciation. Instead of "pockets," or "block by block" are there areas where you don't have to worry if block A meanders over to your home on block B? Like whole neighborhoods that are safe?? If not, are there better places in FL to look than JAX or other areas in SE? My never-ending search...
Rental Property Investor · Orlando, FL · Member since 2015 · 353 posts · 269 votes
5y
@Lauren E. We have some duplexes in 32210. The numbers rock on paper at almost 2x rent to price ratio but they’ve had their share of turnover which brings the investment back down to earth a little bit. Still good income properties, glad we have them as part of our portfolio. I would buy in that area again.
Rental Property Investor · Jacksonville, FL · Member since 2015 · 342 posts · 142 votes
5y
@William Ortiz I paid and started with the the Bigger Pockets Florida lease.
I then modified the lease a little to account for certain items that was not covered such as; if a tenant wanted to terminate an agreed upon 12 month signed lease prior to the agreed upon year.
Rental Property Investor · Jacksonville, FL · Member since 2008 · 784 posts · 528 votes
5y
If you want to be in rentals, go for MFH all the way. If you want to buy fix and flip, do the SFH. There are always deals for MFH along 103rd street. But to really know the zip codes and areas to invest in, you have to come and drive the areas. There are some nice homes in 08 and 09, but I am repairing stuff at midnight in some of the areas. Same with 32210 and 32244, but each zip has good and bad.
Investor · San Antonio, TX · Member since 2020 · 79 posts · 26 votes
5y
@Matt Leber@Jack Bobeck just to clarify, are you all referring to small multifamily or commercial? I've looked in the past for duplex - quadplex but found mainly in less desirable areas from what I gathered.
Rental Property Investor · Jacksonville, FL · Member since 2008 · 784 posts · 528 votes
5y
@Reden Dionisio You can find the Dupes and Quads in desirable areas, just drive them and note the addresses and send out letters. Lots of long time holders. You never know when someone wants or needs to get out. I know of many nice ones in 32205, Riverside/Avondale. The best deals are normally the ones not on the market too.
Investor · Princeton, NJ · Member since 2017 · 105 posts · 22 votes
5y
@Jack Bobeck
Great advice Jack. I am a small portfolio investor from Jersey looking for a MFX in Jacksonville. Will be partnering with a local friend of mine who has zero RE experience. Do you have any suggestions on quality Neighborhoods for our starter investment. Will be teaming up/working with an investor friendly agent/contractor/wholesale.
Good Afternoon I saw this post and thought I would share my experience even though I am a couple months late to the party. I am a Realtor and Investor here in Jacksonville and support mainly other investors across the nation and locally. I have properties myself in these areas and have investors who purchased in these zip codes as well. I know these areas quite well just from some of the people I have run into who owns here. I also have the benefit of having a next door neighbor who is a police officer specializing in gang management in these areas of town. So I get some additonal insider information. They give me the pros and cons compared to other areas from an investment standpoint. But each you mentioned all have good pockets. Literally in JAX sometimes it goes street by street from amazing to not so great. But my investors and myself have had a lot of success. So the main answer is it goes street by street or neighborhood by neighborhood. Also, you want to cross reference that with rents in the area and see what the local market can bare to makes sure your ARV makes sense or if you are flipping will not out price your target market who would want to buy that property. I hope this helps!