All Forum Posts by: Thea Linkfield

Wouldn't the downside be the money it costs? @James Wise

I've looked into getting my own, and it seemed like an upright fee, not bad. But talked to my friend who got his and he said it's a monthly fee and ends up not being worth it.

Great thread, sounds like you're getting a lot of input. There's none for Jacksonville, FL so here's what I have:

It has the Mayo Clinic, which I'm no expert on nursing, but people from the industry talk about it like it's some sort of shrine. I don't know about the salaries, but I have a feeling you've heard of it and that's why Jacksonville is a choice. The Clinic is right on San Pablo and JTB, which is a great location for single family homes. There is flipping potential there, but you'll have to work harder to find houses that need help. The clinic is a 5 minute drive from the beaches (San Pablo Beach, Jacksonville Beach, Neptune Beach, then Atlantic Beach), which is where I live and love it. There is endless rental possibility at the beaches. And nobody expects nice places by the beach so if you can't afford renovations at the beginning, you'll have no problem getting renters. Then once you make enough to renovate, there will be huge resale value. There's a good amount of duplexes at the beach where you can live in one side and rent out the other.

There's also huge rental potential anywhere near UNF. Anything off Kernan will have no problem renting. I don't know much about other parts of Jacksonville - besides that San Marco and Riverside are rapidly growing. Also, there's always some sort of festival or food truck event going on so never boring!

As for land, the best I know of is Alachua County, an hour away from Jacksonville. This is a great place to buy land. My friend has 30+ acres there with a few horses and fun gardens. An option could be to move to Jacksonville, and as soon as possible to work at Mayo Clinic, buy land in Alachua, then once you're ready to rely solely on REI money, move to your plot in Alachua. Just an idea!

Are we talking Orlando, or Jacksonville? The title says Jacksonville, that's why I'm asking.

Welcome! I am also newer to Bigger Pockets and from the Jacksonville Area and agree its an amazing resource. I am still trying to learn the best way to navigate the infinite resources on this site alone, but I think I'm getting the hang of it. I fully recommend the podcasts - especially if you spend a lot of time in the car. I frequently have to drive 3-4 hours and the podcasts are perfect for that. You learn and help pass the time. 

Check out a JaxREIA meeting - first 2 are free! But do your research first on what topics they're talking about so you can pick and choose which ones to go to.

Good Luck!

@Thomas S. You make a good point. However, I WANT to be the mechanic. I want to be hands on in the renovations - both to save money and because I enjoy the satisfaction of labor-intensive work. But you're right, when I step out and look at the bigger picture: making as much money as possible with my current job is the best option right now. At the end of the day, cash is key. 

@Jill DeWit I am curious to how you flip vacant land? I've honestly never heard of anyone doing this. Also, as a real estate investment company owner, how did you start out? Did you start in a real estate field or did you start by buying property?

Thank you @Brian Gibbons ! I definitely get what you're saying about bringing something to the table. I'm hoping, at first, that my drive will at least spark the interest of potential mentors/partners and my perseverance will help. I previously looked into getting a real estate license, but I've heard mixed reviews about the necessity of it. i can see how it would be beneficial when finding a mentor. I'm also willing to do the nitty gritty jobs in order to just be around the environment.

As always, I appreciate the advice!

@Account Closed I appreciate the insight. I'm searching for my first property to buy, potentially working with my dad, so that helps. I'm just wondering if I should save more money for a year while working so I can have hard cash to buy a foreclosure and make a greater profit; or start now, and finance my first flip. Either way, I'll have to have some sort of steady income while starting out. My problem is I want a different job, and was trying to kill 2 birds with one stone.

I'm going to my first REIA quickstart tomorrow, in hopes of meeting local established investors - so hopefully that will help me make connections, and potentially meet partners/mentors. I'm just worried that since I'm not experienced, it will be in-enticing to work with me. But hopefully I can sell myself well! (selling IS important)

I've been reading, and listening to, so much information about real estate investing; but I'd like some guidance on where to get started. My longer term goal is to own my own real estate investment company. However, I'm brand new to this business. I have a good amount of money saved, and make a good salary right now; but it's doing something I have no passion for. I'd like to get another job that is related to real estate investing, so I can continue to make money while learning the basics and working my way up from the bottom. I'm trying to search jobs related, and mostly coming across property manager, and real estate agents. I'm not interested in sales - is property manager a good start? Any other ideas?

One thing to consider when looking for investment properties, is how easily these properties rent out. There are a ton of universities in Florida - FSU (Tallahassee), USF (Tampa), UF (Gainsville), UM (Miami), FAU (Fort Lauderdale), FGCU (Fort Myers), FIT (Melbourne), UNF (Jacksonville), UCF (Orlando) - all of which will give you guaranteed rental income. 

However, you'll have to consider that when renting to college students, as opposed to families, there's a higher risk for damage. It's not suggested to do nice renovations before renting out - especially because most college kids are just looking for cheap rent. This allows you to have higher opportunity to rent, though, without having to fix up a property.

If you're looking for extra income - try Uber?

I know this is an older post, but I thought I'd give my 2 cents in case other out-of-staters are wondering where to buy in Florida. My thoughts are purely from a home-owner/renter/vacationer's perspective, and not an investor's. 

I grew up in Clearwater, FL, about 15 minutes from the beach. Pinellas County has great schools, and like mentioned previously, it's 30 minutes from the TPA airport, downtown St. Pete (which is becoming really nice), downtown Safety Harbor (growing scene), Tarpon Springs Sponge Docks, and plenty of great restaurants and bars in Dunedin. As for the beach itself, it has that nice soft white sand, which I thought was the norm, but becomes more and more rare the more beaches I go to. However, it's very crowded. If you like crowds, great, but if crowds aren't for you, I don't suggest Clearwater Beach. What was mentioned about Scientology is true, however, I don't know anyone who actually went to "downtown Clearwater Beach" for fun. That brings you back mainland which is taking you out of the beach environment. If you stay on the island part, you'll stay away from the Scientology - for the most part. 

I've vacationed in Madeira Beach, which was had a nice beach town - typical biking everywhere, ice cream shops, put-put; my cousins and I really enjoyed it when we were younger.

I live in Jacksonville Beach now, which to me is one of my favorite places to live. You don't need a vehicle to get anywhere - bars, restaurants, beach. And a never-ending amount of restaurants. There is a larger scene for college kids because of it's proximity to UNF. Also, there are some projects at 5th Ave South that you should stay away from, because it brings the values of the homes around there way down. Overall, safe place, but I don't recommend it for a family vacation rental because it's not catered to kids by any means. 

Another thing to consider is blue water. To me, blue water is a delicacy because I grew up with the Gulf of Mexico - which is mostly brown. Jacksonville Beach also has browner water. The farther south you go down the East coast of Florida - the bluer it gets. Starting with Melbourne Beach - which is great but once again would be sort of boring for kids. Fort Pierce and Jupiter begin my appreciation for the turquoise blue water. Also, surfing is good around Melbourne Beach and south - if you're into that.