Multi Families

6 Replies

Hey everyone, 

I will be moving to the Jacksonville, FL area in a month and am interested in purchasing a multi-family (ideally a quad). I'm looking for any recommendations about best locations in the Jax area/where to look for the properties. I'm in the military and will be there for about 4 years and I'm looking to get my start in real estate via the live-in multi-family method and would greatly appreciate any and all input from those in the local area.

Thanks,

Chris Porter

Depends on which side of the River you will be on.  I just looked at some properties on the westside, around 103rd st that I wouldn't feel comfortable visiting at night.  Riverside and San Marco are probably the ideal areas, but you're going to pay for the locations OR you're going to pay for a major rehab.  Not my professional opinion, but that's based on what I have seen so far in my search for a Quad in the same area.  

@Carter Melvin

If you don't mind me asking, in what areas do you own rentals? I'm just trying to understand the trend of Jacksonville i.e. newer areas vs older, areas that seem to be growing, etc. It's hard to get a feel for the area without actually living there so if you have any input in that regard I would very much appreciate it. Thanks for taking the time to post.

@Chris Porter

I've been looking at some quads on the west side, close to JAX NAS that are less than $100K.

If you find a good resource for finding leads let me know.

@Erik K.

That's where I will be stationed, so that is the area I've been looking at as well.

I will let you know if I'm able to find any good resources, please do the same.

@Chris Porter

I currently have two rentals in a development called Sutton Lakes, and a third located near the North campus of FSCJ.  The cashflow numbers aren't eye-popping on them, but they have all appreciated adequately and I would expect them to continue to do so if I were to keep them.  I have been told by another person that if you focus on properties on the east side of 295 that are newer  you'll pay more, but you'll get higher quality properties/tenants.  However, as stated - you'll pay for them.  And there aren't many multis that I have seen in this part of town.  

If you'll be over at NAS, there are plenty of multis a little north or a little west of there. Look on Redfin.com if you don't already have a realtor contact that has given you MLS access. I think I saw one for like 70K, I'm sure it will cashflow all day long, but it didn't fit the profile of a property I would like to own - your goals may be different than mine.

Originally posted by @Chris Porter :

Hey everyone, 

I will be moving to the Jacksonville, FL area in a month and am interested in purchasing a multi-family (ideally a quad). I'm looking for any recommendations about best locations in the Jax area/where to look for the properties. I'm in the military and will be there for about 4 years and I'm looking to get my start in real estate via the live-in multi-family method and would greatly appreciate any and all input from those in the local area.

Thanks,

Chris Porter

 What is the status of this?

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