All Forum Posts by: Michael Bengtson
Michael Bengtson has started 1 posts and replied 5 times.
Post: Potential New Investor in the Jacksonville FL area
- Posts 5
- Votes 2
Quote from @Mark Fries:
Hi Michael
I am a rehab contractor/roofer here in Jacksonville FL and I am also an investor. Feel free to reach out if you need anything. I can be boots on the ground.
Hi Mark - thanks for the reply and the offer. I will definitely be reaching out
Post: Potential New Investor in the Jacksonville FL area
- Posts 5
- Votes 2
Quote from @Chris Grenzig:
Quote from @Michael Bengtson:
I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area.
I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate. I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.
The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:
- - What neighborhoods would you recommend for a first-time investor like myself?
- - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
- How quickly do rental units typically get leased?
- Is the market truly as promising as it seems, or are things over saturation?
I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.
Thanks!
Hey @Michael Bengtson I can probably help. We’ve bought 150+ units in Jax that we owned and managed, we still own 51 units and we also manage for other owners. I lived there for 3 years but relocated to Orlando last year to be closer to family.
I think Jacksonville is still good overall, but it’s tough to make rentals pencil right now. There has been a ton of new construction for housing the past 4 years and that’s why vacancy rates are 10-12% and rental rates have dropped the past couple of years.
Some solid areas to look at are:
Riverside, Avondale, Murray Hill, San Marco, San Jose, Orange Park, southern part of west side, east Arlington, pockets of the Northside.
I’m on my phone so a little tough to go in great detail, but you can message me and we can find a time to chat if you’re interested.
Interesting point about houses not really penciling out at the moment, I was coming to the same conclusion so I’m glad to hear I’m onto something. While I understand appreciation isn’t something I should necessarily bank on, but I am looking to hold for the long term and eventually relocate to the FL. So I may be okay breaking even the first year or two.
Do you invest in Orlando? Are there areas of specific interest?
Thanks!
Post: Potential New Investor in the Jacksonville FL area
- Posts 5
- Votes 2
Quote from @Savannah Holzer:
Hey Michael - welcome to BP! It’s great to hear that you’re exploring real estate opportunities in Jacksonville, especially with your focus on Class B properties and military-friendly options. For first-time investors, neighborhoods like Riverside, Murray Hill, and North Jacksonville could be good places to start, offering strong rental demand and potential for growing neighborhoods. Regarding the market, short term rentals typically lease quickly as Jacksonville is one of the hotspots right now for STRs.
Hello - thanks for the neighborhood recommendations! They do look promising for cost and location. I am interested for now on a LTR but I would be open to short term as we move along.
Post: Potential New Investor in the Jacksonville FL area
- Posts 5
- Votes 2
Quote from @Jonathan Greene:
Reach out to @Elenis Camargo. She and her husband have run a brokerage and property management company in Jax for years and they know all of the areas very well. They will be able to give you some sage advice that would work for your specific buy box.
Post: Potential New Investor in the Jacksonville FL area
- Posts 5
- Votes 2
I'm an engineer currently living in the DC area, and I've been exploring real estate investment opportunities in Jacksonville. I have some family ties to the area.
I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate. I know building a reliable local network will be key, so I'm hoping to connect with experienced real estate team in the area.
The military presence in Jacksonville catches my eye, and I'm particularly interested in properties that might appeal to military personnel and the associated contractors. I have a few questions for those familiar with the market:
- - What neighborhoods would you recommend for a first-time investor like myself?
- - I'm curious about the market dynamics. From what I've seen, Jacksonville has attractive housing prices and rental rates. But I want to understand:
- How quickly do rental units typically get leased?
- Is the market truly as promising as it seems, or are things over saturation?
I'm, eager to learn from local insights and make a smart, informed investment decision. Any advice or perspective would be incredibly helpful.
Thanks!