Buy and Hold in AL, FL, GA and SC

[Richard Ball]

Hello! In January I am visiting

Mobile, AL / Pensacola, FL / Tallahassee, FL / Jacksonville, FL / Savannah, GA / Charleston, SC

I am doing my own due diligence on these markets for buy and hold rentals but am hoping to get a crash course from some locals before I go boots on the ground. 

I know returns in these areas are going to be much less then what I am getting in Michigan but can they crack a 1.5% in a decent neighborhood if I buy the worse house on a good block? Any recommendations on neighborhoods I should stick too since my time is somewhat limited? Any rental restrictions (long or short term)? How are you getting deals (hopefully a decent wholesaling network)? Any other considerations I should be aware of?

[Aaliyah Walton]

I am a newbie from Pensacola, Florida looking to purchase single-family and small multi-family properties. I currently do not have any properties of my own, but I can give you a little info. on the Pensacola, Florida area. Currently the Pensacola Bay Bridge is down, so if you are looking for property in Gulf Breeze, Florida you might want to wait until renovations are complete. The local news journal stated that the renovations should be complete by April 2021, but who knows if that is actually going to happen. The area codes 32506 and 32507 are generally the nicer areas, they are more towards the Perdido Key area. The school districts in this area FOR THE MOST PART are better than the others in the Pensacola area. If I were you I would stay away from ANYTHING and EVERYTHING in the Montclair district. That area is one of the more dangerous areas in the city. I would also stay away from anything in the Warrington Middle School of Elementary School area. 9 mile road is an up and coming area. A big Navy Federal branch is out there and they are constantly hiring. If you are not dead set on investing in Pensacola; Pace, Florida, and Milton, Florida might be worth checking out. I personally know a few people who live in those areas and travel to Pensacola for work. Pensacola is kind of a weird area because there can be super nice neighborhoods in not so nice areas. If you have any other questions feel free to reach out!