Found a multiplex in Lackawana area of Jacksonville. My question is, is this area one of the gentrification areas of Jacksonville. I think I have a great deal, but with the sporadic nature of Jacksonvilles crime areas. I would like the opinion of any local investors with expertise a d experience in this market.... I am a local so am very familiar geographically, just not from an investor perspective. Thanks guys....
Wow, that’s tough. I own 4 properties over near there and I would say drive the heck out of the street at all times of the day. I’ve been told to scoop them up but I’m hesitant. There are little pocket areas that are nice and up coming. Properties values seem to be improving very steadily. I have not had any problems. People have been really nice and there are lots of renters over there. Good luck.
@Elioe Burgos Jr I have a rental in that area and has been good! Tenants pay consistently but I had to train them to do so.
It will work out as long as you:
(1) Buy at the right price
(2) Find the nicest street in that neighborhood
(3) Recruit and train the right tenant.
Thanks guys, I'm driving around tomorrow day and night
I own multiple rentals in this area and there is absolutely no gentrification occurring now or in the near future... It's just a good area for cash flow but you can basically forget any substantial appreciation.
@ Mark Fries Are you still GC'ing? I am very interested in the Lakawanna, Murray Hills, Avondale area. I also see some 4 plexes out on the West of 295 areas. I am not afraid of getting fixer uppers, or started but never completed updating but would like to get an opinion of a GC. Hopefully in the next few weeks ( in between Thanksgiving and Christmas) We will purchase a property up to 3. PM your info and availability if you are still GCing. I would always welcome the more bids the merrier....
@ everyone Thanks guys, I'm not afraid to pull the trigger and have been circling the neighborhoods. I got to stop using my truck and use the wife's minivan. I am burning through gas like a sift. I can see that the Lackawana area is a solid C+ to D+ area. I was looking at the Edward Waters College area as well as some properties out there are good deals. The gamble is whether to rent to students or not. Its easy to get more $ for rent from students but they will be a higher turn over in general. But that area seems to have been cleaned up some since in the past. Again all of your input is greatly appreciated.