A newbie introduction

[Karah Collins]

Hello everyone,

Wanted to take my first step by introducing myself to the forum. Last year really transformed the way I think about money and I am ready to start on my journey to financial independence.

I stumbled across Bigger Pockets Real Estate about two weeks ago and was immediately hooked. Stories of people who have overcome obstacles and lack of resources has made me believe that I can do the same. I know it will be hard, but I’m ready to learn.

I frequently use podcasts as a way to learn, but have always held back from engaging online. I am excited to hear the various perspectives of the seasoned investors on here, further educate myself with BP resources, and continue binging the podcast!

At this point, I am interested in buy and hold multifamily homes. My target market is the Jacksonville, FL area. I picked this city, as it seems to be growing, I am a Floridian and am familiar homes and certain neighborhoods, and also have an aunt who recently moved to the city and could check up on renovations for me. Most importantly, with BRRR homes in the $60k-70k range, which would be an attainable down payment for me. I am still developing a strategy for how to raise capital should a more expensive property come to market.

I live in Manhattan with my cat, and in my spare time enjoy yoga, aquascaping, reading, balance boarding, and true crime. Excited to form new relationships here and attend an event when we are no longer in a pandemic!

Karah

[Jack Bobeck]

@Karah Collins Welcome to Jacksonville, FL! If you want to get a start on what things are selling for, I would recommend you look at the NEFAR website where you can see what sells for what and the areas of town. I would build a search on your own on Trulia for homes under $100,000 in Jacksonville so you can see on your own, without a realtor, what is selling in your price point, or at least what people are ASKING for a their house. 

Most high appreciating areas are not featuring homes selling for $60-70k, but you might find one here or there. I have not found any MFH that was only 70k. Because Jacksonville is less expensive that real estate in California, Arizona and New York, we are seeing a lot of interest from people out of town to put their money to work. if you cannot find a SFH or MFH that fits your price point, you might think of finding a partner for you and your next project. Best of luck to you. - Jack