All Forum Posts by: Maxwell Lee

It works for me @Daniel Ryu 

I think your Korean ISP doesn't like you. 

Ha, I appreciate that and we'll agree to disagree. Hopefully talk to you tomorrow!

We own three units and live in 32207 ourselves. We also have three doors in 32216. 32246 and 32250 are areas I know well but have never purchased. The rest I had to look up just to see where they are...but after looking I'd say all those areas have their pros and cons, so it might be worthwhile to search there. 

Just gave your number to my wife, she will contact you within the next few days. You can visit her site and begin searching for properties if you'd like: http://www.kellylei.com

Where is the meetup? 

Not sure if it's a good idea to have your number posted publicly. 

It depends on your expectations. Murray Hill is my favorite for balance of cash-on-cash and appreciation potential, as it's a gentrifying neighborhood with some dirt cheap properties, and usually if you're patient you can find >1.5% monthly on the MLS.

Safe areas with decent c-o-c are mostly newer suburban and include East Arlington, Southside, Fleming Island, Far Northside (near the airport) where they likely won't lose value anytime soon, but considerable appreciation is very unlikely too. 

The beaches, Riverside and San Marco are areas that could easily see appreciation but those generally are ~1% rule. 

You da man, Dan!

Jacksonville, FL nails your description except for the public transit part. It cash flows well and if you pick the right spots can appreciate too. Plenty of distressed properties to choose from and easily in your desired price range. 

Hi @Schelley Stamps , 

An early welcome to Jax! My wife and I are heavily invested here and also manage investments for many other friends and family. She is the realtor but I'm probably more knowledgeable about the area being born and raised in Jax, lol. We've actually met multiple out-of-town investors through BP who have ended up purchasing, and even partnering, with us. Just saying that we are very investor-friendly.

Let me know if you have any questions. We're happy to see more people interested in our city. :)

I definitely support what @William Byers said. 

Just a few random thoughts: 

-It's been a little tough for us here in Jax to find favorable refi options, but if you have strong income outside RE (which we don't really) then it might be much easier for you. We do have deals with some partners who make HUGE income, and found banks that were thrilled to offer HELOC in those instances.

-I'm not sure 50k is enough to flip with, unless you have more cash to work with. You'd be looking at flips with a total profit of maybe 10-15k, meaning very little cushion. 

-I don't think you'll find much on the county foreclosures either. In that range you are looking at condos with HOA lien, that's about it.

-The idea of using your LOC for down-payments would be great, but it will be hard to get traditional financing. Hard money is out there but the rates might make or break your deal, or add too much risk. I've seen a handful of decent deals with seller-financing offered, so that's certainly possible.

-I don't mean to sound pessimistic, just some issues/concerns to consider. Definitely network, perhaps seek an experienced partner, or if you take a project on your own I think it might just take a bit more time to find the right deal. That's all...

Good luck!

Hey @Erik K.  Thanks for the response and apologies for missing the last meetup. @Daniel Ryu is a friend and Kelly and I may be involved in this deal. Any advice you share will be much appreciated!