Looking into buying my first investment property

[Allende Hernandez]

Hi guys, 

I've been in this amazing group for a while but not too active. I'm picking up on my RE investing interest again and I've been looking for all the info I can absorb about having rental properties. I've read about what makes a good deal, how to calculate Cap Rate and CoC, what are numbers that typically make a good investment, etc. (if you have a specific resource you can point me too I'd appreciate it, info its never enough)

Based on those principles I've found a few properties that, on numbers, seem to make good rentals(CapRate easily over 10% and CoC over 25%) but I know there are other pieces that make the puzzle.

Once you find a good property in numbers, what else you normally look for? I can think of some:

- Quality of the neighborhood It usually aligns with the quality of the tenants and the amount of headaches, also easier to rent and less turnover. Not sure how to find this information other than looking at the Schools in Zillow, can you give me some ideas?

- Amount of available rentals in the area I'm not sure whether is good or not to have several rentals available in the zone

- Amount of properties/units for sale in the same neighborhood specially in the same condo, I'm also not sure how to look at this metric, whether it could be a deal killer or not

Basically I need to learn no how to determine the "rentability" (forgive me if the word does not exist) of a property before pulling the trigger.

A little more info on my plan: 

I live in Miami, FL but properties here in "decent" communities are off my range. I am looking at places where taxed and insurance are lower. I read in a Forbes article that Jacksonville, FL seems to be one of their top 20 cities to invest in 2015, so I'm doing my searches there.

I'm also looking at something below 100K for my first property.

Any help will be truly appreciated!

[Attila Vad]

Hello @Allende Hernandez,

Are you planning to invest in a condo or a single family house?  In Jacksonville you can buy a decent rental at about 60-80K.  The good rental areas are in 32210, 32211 and 32208 zip codes. These are the areas where the big investors are purchasing rental properties. I makes sense to follow the big investors. There are some other zip codes that would make sense as well and the prices are even lower.