All Forum Posts by: Joey Hamaoui

No problem. Happy to help. Feel free to reach out if you need any more information on our market.

Hey @Kirsten Braddock, 

Atlantic Coast Bank is a local bank in Jacksonville that we use for a lot of investors loans. My contact there deals with residential loans but they have a commercial loan division. The contact's name is Bill Wendell. Feel free to reach out and I'll send you his contact info. 

Hey @Steve Burrell, 

a lot of my clients purchase in the $80K-$120K range in Jacksonville, FL. They're typically looking for 7-10% returns and we've had some success. Feel free to reach out if you want to learn more about our market. 

@Oz Radiano, 

Feel free to reach out and I'd be happy to connect you with the accountant some of my Israeli clients use. His name is Ari. @Yoav Lavee introduced me to him. Maybe reach out to Yoav as well. 

Hey @Jose Pomales did you ever find a bank that would refinance over 80% LTV?

I know in Jacksonville you can do 6 month leases and air bnbs. I have a client who purchases 1-1 condos all over Jacksonville for Air BnBs.

Hey @Anup Shah the worst performing investments any of my investors ever did were in 32208. We don't touch it anymore. Long vacancies there. There was a murder there last week. It's not the best area to invest. 

Hi @Eli K., I look forward to welcoming you to Jacksonville, FL when you arrive. 

In your position it may make a lot of sense to try to house-hack. With $100-130K you will have plenty of money to be able to go after a small multifamily in Jacksonville to live in one of the units. You'll typically be applying for owner-occupant financing via FHA. You probably won't qualify for a loan if you don't have history so you may need to wait a bit or have your mom co-sign or purchase the home.

If you can utilize financing you have enough to get started. If you have to pay cash I might hold out a bit more until you can get financing. 

Feel free to connect if you'd like to learn more about the Jacksonville market. 

Hi Oz,

After 9/11 the US tightened banking regulations and most banks now require you to come in person to the branch. There are attorneys and accountants in Israel that can help you to get around it. Most of my investors from Israel typically have made a visit to the US to open an account with Wells Fargo or they've worked with one of these attorneys or accountants to open it in Bank of America.

Do you own property in the US already?

Hey @Javier Campanini, 

There are 3 ways I typically will look at rent estimates when analyzing a property.

The quickest way is Zillow in the Home Value section. 

You can use rentometer.com 

As a licensed agent and a member of NEFAR I can also access the MLS and do a search of rentals in specified area over a specified period of time. That usually gives me a good view of the landscape in that rental market.