Turnkey providers in Jacksonville, FL

[Manish A.]

Hello BP Members,

I am wondering if Jacksonville, FL market is that hot then why there is no other large turnkey provider besides JWB there?

I understand they have a reputation and are a trustworthy provider, but their model doesn't work for an investor in the current market conditions considering the following -

1. ARV is too high and selling the property above market #NoEquity
2. Neighborhoods are at most C/D
3. Property Management Fee - 10% #High
4. Low Net Cash Flow - $100 (+/-)

How is it working for others? Am I missing something?

~Manish

[Jeffrey Wardlow]

Manish 

3 years and counting as a Realtor and PM in Jax, fl., I am wondering where you searched for companies and what was your search criteria because when I did, I found multiple agencies other than JWB who offer turnkey. PM fees are hovering around 10 % as a standard in this area, and with that, you get what you pay for. Most C/D locations have been the highest in cap rates, which I've seen 20%, and Yes, a bit more problematic. Cash flow again will vary per area. As a property Manager in the Riverside, Avondale and Ortega areas, it has been my experience these properties have the lowest cash flow because of high mortgages and high purchase prices. But, Don't give up, It is the biggest city in America, land mass wise. lol

Best

Jeffrey Wardlow

Tradiiotns Realty