Rental Property in Jacksonville, FL

[John Philip Eugenio]

Hi everyone,

I am new to real estate investment. I own a rental property at Oxnard, CA and it has appx. $200K equity. Currently, I live in San Diego, CA which properties are way too expensive to afford. Therefore, I am thinking about doing an out-of-state rental investment. Jacksonville, FL and Las Vegas are the places that I am thinking about investing to.

I plan to take $100K HELOC to purchase more properties and I also have $60K cash as well. Do you think Jacksonville/Las Vegas are great places to expand? Should I use HELOC? Also, looking for Real Estate Agents and Property Manager recommendations.

Thanks in advance.

-John

[Brian Walters]

@John Philip Eugenio there are a few reasons including the current growth, which i feel is more based off people wanting to move here and not people buying for the sake of buying like 2008ish.

Also, the city is building inferstructure to go with the increase in housing. More houses are built, but also so is more commercial space and roads. I came from NYC where they would take down a restaurant, build an apartment complex but add nothing else.

Everything i have read and seen also points to houses here needing less exterior upkeep. Less, not none. The stucco, roof tiles and cement fencing don't require as much attention as materials in some other states.

There is also the tax benefits, which Florida also has, but Nevada doesn't have hurricanes.