7210-7220 Parker School Rd Jacksonville, FL 32211 · 18 Units

1 Reply

Hello All,

New to investing and looking into Jacksonville, FL as my first buy. This property seems clean and easy to take over and that is what I am looking for in my first property as I do not have the time to buy a fixer upper. Hoping someone can help me shed some light on this property to see if it's worth the long term play and getting some cash flow at the same time. I included the loopnet info and the drop box link to the spreadsheet. I plugged the numbers into BiggerPockets rental tools, but feel it's a tad off and making the deal look better than it really is. 

Appreciate any help I can get here

http://www.loopnet.com/Listing/7210-7220-Parker-Sc...https://www.dropbox.com/s/5b9txw0jto1fxtu/7219%20P...

@JOHN D KENNEDY

Good for you for thinking big right out of the gate! Being that you are located far away and are new to investing, you may want to consider partnering with someone more experienced for a deal like this. There can be some serious pitfalls for the uninitiated investor in this type of deal. 

Be sure to check out Trulia's crime map as Arlington can be a very hit or miss area. I know for a fact it's not an A/B neighborhood so be prepared for the issues that come with that class of renters. Given that, what's your plan for management? Management could make or break this deal, particularly since you aren't local.

Regardless of what the seller says, you need to account more for vacancies. Don't put too much weight in the seller's proforma.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here