Investing out of state

[Maria Luna]

Hello investor! I have a question about investing out of state. Is Jacksonville FL, a good market for cash flow?? Does anybody has rental propeties there? I been looking online at properties there and the prices seem to be around my price range. I care about the cash flow, not some much about appreciation at this point. Any advice would be greatly appreciated.

[Maria Luna]

@Divya Pratap

Hello there,

Yes, I manage my properties my self.

[Maria Luna]

@Divya Pratap

Hello there,

Yes, I manage my own properties.

[Dan Barli]

I'll PM you now @Divya Pratap

[Simon Collins]

Originally posted by @Maria Luna:

@Dan Barli

Any specific market that you can recommend? For a single family I would like to stay between 50k-60k. And for a four unit around 120k-140k. I seen this prices in C type neighborhoods in Jax. 

 Not sure where you are seeing these wonderful prices but I am going to guess these are prob high crime areas.  If you don’t mind sharing what area you are looking at.

All the areas I focus on are so overpriced now that I can’t make any multifamily cash flow with just simple quick calcs.

Seems to me something needs to be bought off market here to get the deals.  At least that has been what I have noticed recently.  Unless they are scooped up so quick I don’t even see them.

[Maria Luna]

@Simon Collins

I’m not familiar with the area at all. I seen this prices on Realtor. Idk how bad the neighborhoods are because I’m not from there. I’m trying to find out information about all this details.

[Maria Luna]

@Larry Fried

Oh ok. I appreciate your reply. I’m for sure gonna take the time to research and drive the neighborhood before I make any decisions.

[Kai Van Leuven]

@Maria Luna Why not go south on I-5? Those areas are pretty cheap and you could check on them in a few hour drive. If you have had some success in the South Puget Sound why not leverage that to an area you know better? I have seen some stuff down there that I thought would be a good deal. PM me and I will send it over.

[Maria Luna]

@Kai Van Leuven

Hello Kai,

I just PM you.

[Warren Fanaken]

@Larry F. Hi Larry, it seems like you're having success with your turnkey properties, which is something I'm debating myself as an out of state investor. Is it something you recommend or do you feel the convenience isn't quite worth the money left on the table?

[Simon Collins]

Originally posted by @Maria Luna:

@Simon Collins

I’m not familiar with the area at all. I seen this prices on Realtor. Idk how bad the neighborhoods are because I’m not from there. I’m trying to find out information about all this details.

 Yes I understand. What’s the zip code you were looking at? Jacksonville is huge!  Areas I personally would avoid (I know everyone is different ) but just north to northwest of downtown Jax for sure is off limits to me.  I have done several Habitat for Humanity builds there and handing out T giving food and it’s not an area I would want to have investments.  I am sure people can make money there but I don’t want to deal with high crime areas personally.

[Robert Raffalo]

@Divya Pratap to Dan Barli -  Hilarious!

[Robert Raffalo]

@Larry F - Did you potentially purchase your turn-key rental property in Jax from JWB?  I'm exploring opportunities with them and looking for anyone who has had an experience with them.  Thank you!

[Robert Raffalo]

@Larry Fried

Did you potentially purchase your turn-key rental property in Jax from JWB? I'm exploring opportunities with them and looking for anyone who has had an experience with them. Thank you!

[Matt Berklacy]

network with some wholesalers, and get drip on mls for specific criteria, ...numbers are good in jax. be open to some light rehab fix up, to not over pay?   

I first invested out of state from Va into Raleigh NC..... then I did jax and St Augustine...but not those numbers you mentioned..

you should consider something with light rehab, and for 1% rule or better, as foundation... i think its there, jax is so big, ..pocket opportunities...

[Larry Fried]

@Robert Raffalo I will send you a PM as to not distract from the OP's thread.

[Larry Fried]

Originally posted by @Warren Fanaken:

@Larry F. Hi Larry, it seems like you're having success with your turnkey properties, which is something I'm debating myself as an out of state investor.

Is it something you recommend or do you feel the convenience isn't quite worth the money left on the table?

 It entirely depends on the circumstances and desires of the buyer.  My turnkey purchases have worked out well, but I've walked away from some that looked like they weren't living up to what was promised.  Today's markets are also much more competitive than even a couple of years ago.

[Maria Luna]

@Matt Berklacy I’ll keep this in mind for sure. I appreciate your reply.

[Gerald Smith]

@Maria Luna & @Simon Collins it all depends on the neighborhood in some zip codes. I have found 32208 has good returns on rental and has active rehabs. Some are being bought for 40 to 50k for rentals with 800 to 950 rental rates. 

[Scott Morongell]

@Maria Luna you can invest anywhere and succeed. You just need to put a great team together in that market. Once you do that and become an expert in the market you will be able to look at deals and be competitive!