All Forum Posts by: William Byers

Jim,

I'm looking for investment property in Flagstaff, planning a trip there in January.  Any insight you can provide would be appreciated.

I'm planning a trip to Flagstaff in January to look for investment property, SF or MF.  Please contact me if you have property.

Joyce,

I'm an investor/realtor in Jacksonville FL.  Let me know if I can help.

I have to echo what Andrew said.  North Florida (Jacksonville/St. Augustine) is an ideal area for retirees.  Well over a hundred golf courses ranging from muni courses to TPC Sawgrass, and everything in between.  Not only is the Golf Hall of Fame here, it's the PGA Headquarters.  Nocatee is the third fastest growing community in the country, and has active adult communities and amenities.

Overall cost of living index is a 98, housing is 80 and health care is 93.  We also have the Mayo Clinic and an NFL team.  

Jacksonville has some great buy & hold opportunities, and still some flip deals if you have cash.  About 40% of sales in Jax are cash, and the real opportunities are in the $75k to $200K range (purchase not including rehab).  Median housing price in area is about $150k.

I'll be glad to share detailed market data.

Great Michael, thanks.

@Michael Quarles Great opportunity, I'm entered and building my mailing list now!  Enjoyed your podcasts and have started practicing the pacing and neuro-linguistic techniques you illustrated.  It's amazing the difference it makes when we lead people to their own conclusions versus trying to convince them our deal is the best.

The link doesn't appear to work, but you can find the spreadsheet in the Resources>FilePlace

Great opportunities exist that violate the 2% rule. I usually start by determining what the return would be on a cash purchase. Depending on the neighborhood, I will seek between 10 and 15% COC return. See a recent analysis below:

This deal yields 13.7% COC in a solid rental area, which was right in my client's target ROI. A more detailed analysis shows this to be an excellent opportunity, particularly with leverage. The client put up 25%, and obtained a 15 year mortgage at 5.25%. The leveraged IRR is over 30% and the first year COC is over 28%.

If want my simple spreadsheet on a cash basis, download the spreadsheet at

http://www.biggerpockets.com/files/user/metroretro...

If you need help with a detailed analysis, contact me.

Welcome to BP David.  What size MF (how many doors) and what's your minimum rate of return?  There is a Jacksonville Meetup this Thursday at Brio Tuscan Grill starting at 7 pm.