How to Identify target area

[Nicholas D Volonakis]

I live in Jacksonville FL, which is suppose to be a great area for investors. I am overwhelmed when looking where to buy.

I am worried about getting a house and not being able to find a renter and being stuck with a Mortgage that has to be paid 

Jacksonville is a large city square mileage is largest city in US. How do you identify your target Market? 

[Daniel Polimeni]

I am also a new investor in Jax. We (my wife and I) are under contract on our first property. We have lived in Jax for 14 years and know the city pretty well. We had a few areas that we concentrated on at first. Looking at LOTS of options to find the right deal for us. I used to live over by the Town Center so I am familiar with that area. 

Riverside and San Marco areas are always pumping out rentals that get scooped up real quick. A rental won’t stay open for very long. Just be careful of where you are looking over there. One side of US17 is very desirable, while the other is NOT! I would suggest driving around those areas and get a feel for what’s going on. See how far it is to walk to local restaurants and shops. 

Do the math and make your numbers work! They all say that you make your money when you BUY. Search for “deals” and be ready to jump on them, they go fast in the market around here. But also don’t jump into a property just because you want in. Do your do diligence and make an educated, quick decision. 

While you’re walking/driving around, look for moving trucks. Chat with the neighbors and ask them how they like the area they live in. Do they feel safe to walk around at night? Do they have kids, do they like the schools? All these things to add to your knowledge of the area. 

Jax is HUGE and it can be overwhelming, but if you focus on one area, our enormous city becomes just a small little town.