All Forum Posts by: Jack Bobeck

@Nicole S. There are always properties available. Having just had properties refinanced in 32205, my appraisers quoted between 90/sq and 130/sq in Murray Hill. Avondale is a bit more expensive, but homes are larger and Riverside is somewhere in between. 

There are always homes available around town. You can get the Just listed or Expired listings from a Realtor for any area and get an idea of what things are selling for or sitting. With 30-year notes available and cheap cash, no matter what the Fed does in 2017/2018, there is no reason to think you cannot find a great property, make it cash flow and see it appreciate. 

Best of luck to you and remember that no one can stop you, but yourself. 

@Sarah McCrystal-Harris I have done a lot of work looking at all kinds of products in the local #Jacksonville area. You can buy up to 10 properties now with a Freddie or Fannie product. I would look at a mortgage broker to start and gather information. 

You might be better suited using a line of credit against your house. TD Bank has a great product and the rate was only 4.99% with a $99 fee to get setup. If you can post more details of the transaction, that would help. Happy to assist, as I have been down the road for financing. Best of luck to you! 

@Joe Facenda Guess who's profile I found on Realtor dot com? Yes, here is YOUR profile. This link does tell an investor some VERY good information. If I was an investor looking for properties, it shows me that you have had a price range of properties listed under your name of $295k to 575k. I don't know the threshold of most starter family homes in your area, but your savvy investors do. The fact that your profile only shows (7) properties over a 24 month period is either a) incorrect and you would want to contact Realtor and make sure all of your MLS transactions are updated or b) a prospective investor may want to search for other Realtors in the Vienna Va area. Either way, this is a FREE tool for all Realtors and why wouldn't you use it? Let investors know you are INVESTOR-FRIENDLY. You catch way more fish with additional lines in the water, and its free. Get some of your past clients to write reviews of how well you helped them.

If you are a realtor and not taking advantage of the free information you can put out on the real estate sites, you are missing out. 

There are still great deals in Jacksonville, FL. You need to look for them. The easy ones are gone, the auction properties are still on the foreclosure sights as well as a few other places, such as wholesalers. Terms for money are a lot better than they were the last time during this cycle and we can hold more in our name. 

Remember, there will always be people who get into real estate and realize its NOT for them. Always be people tired of dealing with tenants and the excuses. Always be people who should go do something else, but you have to find them. There are wholesalers now doing better than ever and there are people buying properties for either holding and renting or flipping. 

I don't care what market you are in, there are always opportunities. 

Beware, the city is trying to buy properties in parts of 32207 due to the flooding from IRMA, so make sure you search for Lori Boyer, the council person and look up her stories if you are looking at investment properties. Otherwise, it’s a neat area, but it does have double-stack train traffic running through it and is very busy with FEC freight trains.

The front end sales, credit appraiser takes 1-2 weeks. Most depends on if you have your stuff together. Then underwriting takes as long as they take. They are the reason for the speed of it. Mine told me that they are more forgiving at the end of the month and speedier to get ‘em closed and funded.

I would recommend Traditions Realty, they are located in Riverside on Riverside Ave. Call them at 683-5230. We work with Sacha (Sasha) and have done so for over 5 years and are very happy with the work they do for us. Best of luck to you! 

@Nick Romano With money so cheap right now, I'd use other people's money. You always need more cash for life and stuff and reserves. Hold onto your cash. 

Based on the sales of recent apartment complexes, I'd comfortably say that you are looking at paying (closed deals) $50,000 per door in a good strong appreciating neighborhood, less in others not appreciating as quickly. In Riverside/Avondale there are a number of properties on the market for closer to 100k per door. 

Jacksonville is a great investment area for many types of real estate investments. The recent housing data shows that SFH permits continue to rise, while multifamily continues to decline.  Multifamily had led the charge, but the latest data points out that people still want to own a home. As wages rise, this will become more true around the country as well as in Jacksonville. Watch the data over the next few months to get an idea of where the housing market is headed.