Hello, I am looking to jumping into REI. I am currently in SoFlo as you may know this market is extremely crazy right now, so im choosing an area more within my reach. I have zeroed in on the Jacksonville area, specifically 5 minute radius from TIAA stadium/Downtown. I noticed some properties on Zillow that look good to BRRRR. If anyone has any experience investing or selling in this area please lmk what you think. Thank you soo much!
Good AM! You're thinking right by exploring the Jacksonville REI market. As an investor, I've completed several deals within your budget. I'd be open to discussing how my experience as a Real Estate Broker and investor can benefit you. Good deals don't stick around in the market very long so quick action and quality analysis are key in this local.
You're absolutely right! That area (32202) and surrounding neighborhoods such as Springfield, Brentwood, Fairfield, and Lackawanna are on fire right now. Springfield has seen tremendous growth and prices have climbed quickly, but you can still find great deals just outside of that radius. Big plans for downtown in the near future which explains all the untapped potential.
Thanks so much for your response. As i mentioned before, I am interested in BRRRing a property. My goal is to acquire a few LTR/SHR to replace my W2. I took out a HELOC and the rate is not too favorable. It's more like a private money loan. $130k @8% interest! I didnt qualify for a traditional HELOC because of my DTI. So having said that, do you think i can do something with that in your market. If so, i'd like to dive deeper into possible options.
You're absolutely right! That area (32202) and surrounding neighborhoods such as Springfield, Brentwood, Fairfield, and Lackawanna are on fire right now. Springfield has seen tremendous growth and prices have climbed quickly, but you can still find great deals just outside of that radius. Big plans for downtown in the near future which explains all the untapped potential.
Just reach out if you have any questions!
-Andres
Hi Andres, I'm looking to Brrrr a property in the Jacksonville area. I would like a property for potential MTR/STR. I think i mentioned that i reside in SoFlo. Im working on a HELOC for about $120k. Do you have any recommendations for me?
Good AM! You're thinking right by exploring the Jacksonville REI market. As an investor, I've completed several deals within your budget. I'd be open to discussing how my experience as a Real Estate Broker and investor can benefit you. Good deals don't stick around in the market very long so quick action and quality analysis are key in this local.
Why that area in JAX? Area is a hit and miss when it comes to investing. Unless you have a crew ready to do your rehab, it is hard to BRRRR in the area and trust that the work will be good in the budget you have. A lot of the low cost properties require a LOT of work. I would go out of JAX and look at other booming areas outside of the city with that budget.
@Mariel DeVito Hi- what areas would you suggest? i was also looking into jacksonville to BRRR @Dessiree Jimenez if you would like to connect! But i have some reservations for investing in that area even though the prices look favorable. the unemployment rate in jacksonville is at a low rate compared to other cities.
One of the things I like about jacksonville investing is that there is a wide range of price points. You can buy properties around $200K and then can grow/expand to properties by the beach that are 1million plus, and can use long term, or my favorite, short term rental strategies! Happy to help any way I can, or recommend people in the area if you like as I have had a good experience investing here out of state.
I would visit the city though before investing, so you know what the city is like!
@Dessiree Jimenez Hi fellow Miamian! Happy to help if you need. We started off investing from out of state too. Left miami in 2014 for NYC, then invested from there in Jacksonville. Moved here in 2020 to start our brokerage and now focus on helping investors acquire in Jax and manage too. We manage over 250 doors. Send me a PM if you want to chat and I’m happy to help with anything you need :) We do manage a lot in the area you’re looking for as well, which many PM’s don’t do. Happy investing!
@Mariel DeVito Hi- what areas would you suggest? i was also looking into jacksonville to BRRR @Dessiree Jimenez if you would like to connect! But i have some reservations for investing in that area even though the prices look favorable. the unemployment rate in jacksonville is at a low rate compared to other cities.
Why that area in JAX? Area is a hit and miss when it comes to investing. Unless you have a crew ready to do your rehab, it is hard to BRRRR in the area and trust that the work will be good in the budget you have. A lot of the low cost properties require a LOT of work. I would go out of JAX ad look at other booming areas outside of the city with that budget.
@Account Closed and I would like to know what other markets you have in mind. I think this area has a lot of potential for STR/MTR. What do you suggest?
One of the things I like about jacksonville investing is that there is a wide range of price points. You can buy properties around $200K and then can grow/expand to properties by the beach that are 1million plus, and can use long term, or my favorite, short term rental strategies! Happy to help any way I can, or recommend people in the area if you like as I have had a good experience investing here out of state.
I would visit the city though before investing, so you know what the city is like!
I totally agree with you. I think this city has a lot of potential for str/mtr. I will be visiting the city soon. Thanks for your comment
@Dessiree Jimenez Hi fellow Miamian! Happy to help if you need. We started off investing from out of state too. Left miami in 2014 for NYC, then invested from there in Jacksonville. Moved here in 2020 to start our brokerage and now focus on helping investors acquire in Jax and manage too. We manage over 250 doors. Send me a PM if you want to chat and I’m happy to help with anything you need :) We do manage a lot in the area you’re looking for as well, which many PM’s don’t do. Happy investing!
Thanks for reaching out. I plan to visit the city soon, ill def reach out. Thank you