All Forum Posts by: AliceSun Norman

I closed on my first duplex two weeks ago and today I got a call from my tenant that the fridge and freezer are not cooling. They’re holding the current temperature so he’s not worried about his food tonight and overnight but I feel obligated to have it fixed by tomorrow. Since they’re both not working I’m thinking it’s probably not worth having a repair man out since the fridge is pretty old. I’m going to go check it out myself this afternoon just to verify everything he’s telling me. Anyone know where I can get a great deal on a fridge in a hurry? Is it worth it to get one that’s a little bit banged up for half the price?

Thanks for that input. I have mainly focused in Riverside and Avondale - less risk, higher prices but less returns. Now that my feet are wet I’m ready to go into something with bigger returns. I’ve been considering 32210 because it’s so close to the military base, which should attract solid tenants! This example pushes me to take a closer look that area, so thank you!! 

Ask, If you need some info or help with Jacksonville homes, let me know if there is anything I can do to help! (Though obviously you’re doing pretty well from a distance already! 😊)

Thanks for this post! I am a new investor in jacksonville and would LOVE to find a deal like this! Can I ask what area you are finding great rent to price ratios? I have bought 2 duplexes in higher priced areas but want to look for solid single family homes for my next few deals. 

@Nathan Raisbeck I also have an engineering degree and do not work in engineering directly. An engineering degree is super valuable, at least in my experience. It opens a ton of doors even to non-engineer in careers. And definitely gives you a high starting salary so you can save more for investing sooner. I would get a degree, try to do something in real estate immediately after college and if it doesn’t work out or you decide you need to save more cash first, then use your degree to get a great job and save the cash. It definitely helps to have a W-2 job when you start investing if you’re starting with little cash.

I absolutely wish I had the idea to start investing right after college or even during college, so definitely don’t lose sight of it! Hopefully things will turn around with the pandemic and you’ll get a real college experience, it was one of the best times in my life and I do not regret my degree at all!

New jacksonville investor here - does this happen to be the quad(s) on Westchase? I’ve been eyeing  those 🙃 I think those are great pick ups if I’m guessing correctly! 

Unfortunately I don't have any actual value to add regarding funding outside of occupied funding with FHA or VA. I haven't been able to find anything under 25% either, I like the suggestion of looking into portfolio loans.

One strategy I’ve used to conserve some cash is to offer more than sales price with a closing credit (I believe 2% max on investments). Appraisals haven’t been an issue so going over doesn’t seem to matter but it keeps more cash in your pocket. May cause some issues negotiating repairs if there a lot that come up though. 

Hi Mario, I’m a new investor in jacksonville also. I’m happy to connect with you, I have similar goals. 

Do you live in Jacksonville? 

I rented rooms to friends 3 different times in my first home in grove park on the Southside, and am in the process of buying a riverside duplex to live on one side and rent the other as a house hack 😊 feel free to reach out.

Hi y’all! I am a Jacksonville native. Buying my first 2 duplexes this month (one today and one mid November) in Springfield and Riverside areas. These are the easiest areas for multifamily rentals IMO. Southside and the beaches are good areas for solid rentals as well. There are other up and coming areas around town with great opportunities if you’re willing to take the risk. (Lower cost, higher potential payout, but bigger risk that renting will be harder and appreciation will not happen). 

I’d love to connect with other Jacksonville investors! Feel free to reach out, I just sent you both a connection request!