All Forum Posts by: Ashleigh Evans

I live here now, so I can get out and walk to find new inventory every day. 

The beaches (Neptune, Atlantic, Jax) can be nice, but you can easily pay $400K for a 1960s bungalow there that hasn't been touched since. The value of land is so high on the beaches that your fixer uppers start in the 200Ks. 

Now - and the realtors can correct me if I'm wrong - interest rates are on the verge of increasing here, so everyone is buying a house before the interest rate increase. Those 200K properties have multiple bids on them in matter of hours. If a house goes on the market at 7, it usually has 3 offers on it by 10-11. 

Keep in mind these 200-300K houses are 1960s beach bungalows that haven't been touched since. They need an abundance of work - I'd say around 20K average. 

Personal opinion-

Residentially, with the exception of the houses on the block next to the beach (the 1.5M ones), the beaches have been riding on the fact that they're next to the beach. People haven't invested in their properties, buying homes around 2008 riding out the appreciation since the market crash. You don't get what you pay for. 

@Matthew Rollo I see what you mean now. I just made it to the Jacksonville area and holy cow. The amount you pay for a fixer upper from the 80s is insane. 

Hey BP!

I just moved to the Jacksonville area (military), and I'm looking for my second private residence that I will rent out in 2 years. I'm working with a realtor, and it just doesn't feel like I'll find a wise investment.

Jacksonville (especially in the beaches area, near the naval bases) isn't an area where people take care of their homes, so the amount you pay for a house that's really going to need a lot of work is astronomical.

Any advice? Alternatives to realtors maybe? Lessons learned? 

Have you ever flipped or rented across the bridge? Some of those houses are around $6K. I was thinking of maybe buying a rental there and using that to supplement the insane rent prices by the beach.

I'm moving to Mayport next month, and instead of renting an apartment I've been researching duplexes in the area that I could reside in while renting out the other. Multi-family homes seem to be scarce in the area, with the few available being over $100K. My initial plan was to either cash out refinance a home that I have in Atlanta to buy a MF property in Mayport,  but now I'm thinking about just getting an apartment. Key facts:

1) the property in Atlanta is a tax lien that I'll be finished rehabbing at the end of this month. I can't sell it until next month.

2) I haven't gotten the property appraised yet, but I'm guessing it'll appraise between 80-100K. 

3) I've never had an investor, and I'm not sure if this would be the type of situation in which you would use one. 

If I sold the house in Atlanta, would it be able to quality as a tax deferment? If I have to be in Mayport next month, would it be wiser to rent somewhere?

Help????

Thanks @David Sugg and @Jay Hinrichs

This may be a little too much information, but because I'm in the Navy, I'm a little weary of buying a rental property here in Charleston (I'm stationed here) because I could be moving in less than a year. Mr. Henrichs, I see you're located in Oregon. Do you fly out here to find your property? 

Hello BP Family,

This weekend I flew to Jackson, MS to check out their blighted residential inventory, which is well over 1000 properties. 

I am weary of buying anything due to what appears to be a stagnant chamber of commerce and city council (Hines County). Has anyone had any success in flipping or renting in jackson? Has anyone ever just torn down the structures and rebuilt in Jackson? Any GC references? 

Thanks for the help!!! 

Hi Bigger Pocketers! 

I'm coming up on my first renovation in Fulton County (Atlanta), and I've been hearing whisperings about pre-designed rooms (kitchens, bathrooms, etc) that can be found on mass-producing websites. I've been searching for more information on them and have been coming up empty. Does anyone have any experience/ advice on the first steps to finding and working with a contractor? 

Any recommendations for GCs in the Atlanta area? 

Thanks!

Ashleigh

Thanks for the help, Mr. Young! 

Hi BPers! 

I bought a tax lien a year ago, and the 12-month redemption period is up in July. Does anyone know the steps for filing a quitclaim deed or gaining custody of the property? Thanks for any and all help!