Hard Money for this deal in JAX

[Erik K.]

I have the following deal on the table and would appreciate any feedback.

VA Owned Property in the West side of Jacksonville (32244) asking $75K for a 4/2 1900 sq. ft. The property has been vacant for 3 years and needs about 25K in renovations (paint, carpet, appliances, roof repair, etc.). A realistic ARV for this property is $125K.

I plan to rehab a retail this property in less than 3 months.

[Jack Bobeck]

@Erik K. Greetings, any property with power off for 1+ years needs a certified safety inspection by an electrician. Good question to ask, call JEA at 904-665-6000 and ask if the property requires an inspection.

Here is some good data on the Westside of Jacksonville from the NEFAR January 2014 sales report. Gives you some idea of the values for the area, based on sales in 2014. Median rent for 4 beds is 1100, more or less depending on quality of furnishings.