Buy and Hold in Jacksonville, Fl
I have a quick question for buy and hold investors in JAX. Have any of you been able to rent properties under the 2% rule? Thanks in advance.
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@Kandi Alston Sadly you're not overlooking anything - it's pretty unusual to find anything close to 2% on the market in Jax. Even during the last RE dip those types of properties were rare.
When I first started buying (2012) you could get a cute bungalow in Murray Hill for $50k-$60k, easy - not even needing much work! The same properties these days are going for $100k+ or if they're asking $60k they need $40k in renovations.
@Chris Ramos I don't know about insurance being the culprit. Actually my largest expenses are property taxes, by far (don't get me started). Of course I don't have any properties in flood zones, or at the beach so that makes a difference.