All Forum Posts by: Jack Bobeck

Chris T. Swapping a job in Old Navy in a mall for Amazon Fulfillment Centers, is really all about one demographic, college and teen kids that can drive. Here in Jacksonville we have two Amazon centers and they have plans for two more. The average wage is $10 per hour and work people for 10 hours with few breaks. It’s tough demanding work. It’s about the same pay as working in the mall, but more demanding for sure. The malls will survive by offering a mix of product and service offerings inside. Having a town of services, with maybe residential built next to it or attached will be the way they survive. If you could eat and get everything you need there, why would you leave? Yes the old rack, pack and stack are going away, but a new model will blossom. We’re already seeing it here in Jacksonville with Town Center and the apartments/condos connected to the development. Next up is AC shuttle service with billboard ads and drone ads.

Oneil Okpaleke there 2 deals here, first for the property and 2nd, what to do with the property once you get it. A 25k property with an ARV of 100k is a nice deal, congratulations for finding this one! Shop around for funding options, lots of mortgage companies offering fix/rehab loans, but think about a different strategy. Lease option with work for equity. I know Lou Brown uses this and if you can get past his Yeah Baby Schtick, it’s a great idea. You don’t spend the 30k to fix it up, you get the lease with option to buy person to do it, offer them a purchase price, say $80k-$30k, for them to do the work. Put a 5 year ballon on it and have them cash you out after 5 years. At 80k, they buy with equity in the deal, 100-80=20, and then they have 1 year to get the 30k worth of repairs finished. You still own the house for the 5 years, you can use the equity built up to buy other properties and do the same thing over and over. This way you put people back into home ownership and you don’t have to spend a dime on fixing the 30k of stuff, save your money, let the prospective new home owner do it. Lots more to it, but get a good real estate attorney to help you with any real estate paperwork necessary. Best of luck to you.

Peter Fokas in Florida we are not required to offer pest service or maintain the lawn, but I think it’s a great thing to offer. I too have new AC units, it’s important to change out filters, at the beginning of the month and collect the rent at that time, find out if any other issues at that time. In the end it’s about keeping and retaining good tenants, raising rents and providing solid value to your client.

Scott Trench I live, work and invest here in Jacksonville. It is a strong economy with the Navy, Mayo, MD Anderson and logistical operations due to the Port and rail. I am happy to discuss with you and others when ready. I’ve been investing in Jacksonville for 10 years and have lived here most of my life. My family operates cash flow positive businesses and we also own commercial warehouses. Again anytime, just ask.

@Marty True The Storm itself pushed water into the St. Johns and it flooded most of the homes along the river have severe flood damage. It was brutal to see so many streets full of people's belongings at the road with the road vulchers picking through old furnishings. The dumpster people got a workout. 

Homes along the ocean got pounded hard too, many in St. Johns County are falling into the sea. Neighborhoods still have issues with high tide in the river, the Noreasters have been brutal this fall. We believe that there will be a lot of properties on the market come this Spring, as people are still waiting on funds from FEMA. They may never arrive, then what?

@Chris T. Realtor Agreements are not forever. Count the days, go speak with the broker about the Realtor if you have concerns. Its your money, see if you can get one to work for you. 

@Truman Meecham Congratulations on finding your first deal. Did you go in any of the homes that sold between 310k and 330k to get an idea of what people are willing to pay for in a home? Have you spoken to any of the Realtors about the factors that led people to buy the homes? I always like to know what people want in a flip and find out before I finish. Makes it easier to market. 

If you were to fix and flip at 310k, are you making enough for your goal amount? Hope it all works out for you!

@Chris T. My wife, a Realtor, sold 3 homes last year during December. Two were homes for sale and one was a buyer. There are no longer good months or bad months, people are busy 24 x 7 with life going on and people are getting relocated all the time or deciding on buying or selling for all kinds of reasons. She just got 3 new listings 2 weeks before Thanksgiving.....

Ask your Realtor for more suggestions on how to get the house sold. Broker Open House? Neighborhood Caravan? Host a "favorite sports team" party there and invite the neighbors. Get creative, get people in the house, you need more people to see it and then generate buzz from their visits. Leave the house on the market, but get some good advice from professionals that sell in and around the area. 

45 Days on Market is nothing, really. The local MLS can give you and idea of the number of days on market for each zip code/city and that is helpful. I wish you the best of luck!

Cool survey! I just finished. 

Well done, survey completed.