All Forum Posts by: Bradley Sriro

Hey Alvaro, I am also an investor in Miami and I decided to look at turnkey providers for the same reasons as you. After reviewing several providers (some of which were out of state), I decided to go with JWB Real Estate Capital in Jacksonville. I recently closed on a property with them and have been very happy with my experience so far. I also really like the Jacksonville market as a whole. I would be happy to answer any questions you might have. Best of luck! 

Welcome to BP @Shane WIlliams... It sounds like you are in a really good position to get started. If you will be truly house hacking and living in one of the units, you can do as little as 3.5% down with an FHA loan as long as you have a credit score above 580. There are several options though... You can also go with a conventional loan as an owner occupant with low down payment options. Your property options will of course be dependent on your budget and location. What areas are you interested in and what price points make sense for you?

Good morning @Matheus Silveira, I just sent you a direct message. 

Yes Vinod, I am working with JWB. I do not share your opinion that the Jacksonville market has peaked. How did you come to that conclusion? My opinion is quite the contrary. Jacksonville is a very strong market with solid growth and appreciation. It also offers both cash flow and appreciation that meet my needs. 

The median home price in Jacksonville increased over 6% last year... and the historical average of appreciation is over 4%. Additionally, population growth in Jacksonville remains very strong. It is true as you noted that many of their homes are in C class neighborhoods; however, these neighborhoods have strong and consistent rental demand. The owner to renter ratio is around 55% owner and 45% renter. With that being said, I believe that your premise regarding resale is also incorrect. The turnkey homes offered by JWB are affordable working class homes. What I can tell you as an agent is that there is a very strong demand for affordable housing. Homes at these price points are in very high demand among owner occupant buyers especially because they are affordable. Couple this with the drastically low inventory and it sets the stage for continued price appreciation due to simple supply and demand. In today's market many potential buyers are being forced to rent simply because they can not secure a home to purchase because of the very limited inventory. This too supports strong rental demand and continued price appreciation. I would argue that most investors who purchase turnkey properties have a long-term hold mentality like myself. As such, they would likely hold for a full market cycle which can be between 10-20 years. In terms of exit strategy, I intend to hold all of my rentals for a very long time with the intention of paying them off as quickly as possible. 

I also want to note that I am not trying to sell JWB as a company. While I am very happy with my experience with them, I am simply stating my reasons for choosing to invest in the Jacksonville market. JWB just happen to fit the mold of what I personally was looking for. 

Did you end up purchasing a turnkey property with any turnkey provider? If you would have purchased two years ago, you would have undoubtedly locked in some significant appreciation. 

I really like GA as well; however, I have not been able to find a turnkey provider there. Are you aware of any? I am not against doing a little homework to identify a great agent and property manager; however, I would prefer to go to a one stop shop with everything under one roof. You say that UT is your favorite market... what does that market offer that makes it your fav? What prices are standard for a 3/2 SFH (acquisition/ property price, taxes, insurance, PM fees, etc.) in UT? Also, how difficult is your tax situation being that you own properties and earn income in multiple states? I opted to do my first turnkey investing in Jacksonville since I live in Florida and it simplifies things for tax purposes being that Florida doesn't have State taxes. Just curious as this is another concern of mine with OOS investing. Thanks for your input.

@Jenning Y. thanks for sharing your experience and insight! I own rentals that I self-manage in South Florida but I also just started investing using a turnkey provider in Jacksonville, Fl. I too share your sentiment for appreciation which is the true long term wealth builder. In terms of my turnkey investments, I guess you could say that I look for a balanced approach where I can obtain a combination of cash flow and appreciation... I was able to find that in Jacksonville. I looked at OOS investing in TX in the past because I have children who moved to San Antonio when they were in the military. While the home prices were reasonable compared to South Florida, the property taxes were extremely high so I decided against it. In your opinion, what is a current market that is appealing to you with low/favorable property taxes? 

 Hello Mary... Being in South Florida (Miami - Fort Lauderdale area), we are close to many beaches. The type, quality, and features of the construction is more important than whether it is a single or 2 story unit. Many areas close to the beaches in South Florida will require flood insurance which for the most part is pretty affordable and therefore not a big issue. If a home is very close to beach areas and there is a major hurricane with heavy storm surge expected, you will likely be ordered to evacuate anyways regardless of whether or not it is a single story or 2 story home. 

Being a South Florida native, I have lived through many hurricanes. With that being said, there are many mitigating factors that are involved with owning/ protecting a home or investment property here. The basic premise is that the newer the construction, the more hurricane protection features it will have. All new homes in South Florida are built to strict codes that are geared toward withstanding major storms. Basically, you want to find a home that is concrete block construction (all newer homes in South Florida are CBS) and has hurricane impact windows and doors for all openings. In terms of roofing material, one of the best options here is a metal roof. 

Are you in the process of looking for a home close to the beach? If there is anything that I can help you with feel free to reach out.  

@Alicia Harrington you're welcome... Happy to help any way I can. 

@Alicia Harrington I too would recommend looking into JWB. I live in Miami where it is very difficult, if not impossible to cash flow with single family. As a result, I began researching multiple turnkey providers. I decided to go with JWB and have since purchased with them. I really liked the fact that they are in a great market (Jacksonville) that offers both cash flow and consistent historical appreciation. While their properties may not cash flow as much as some other markets, all things considered, they offer a very attractive total ROI. I also found that they have a stellar reputation in the turnkey world and I have been very happy with their customer service thus far. If you would like additional information or a point of contact for them, feel free to direct message me. Best of luck!

@Susanna White I agree 100% with @Abel Curiel and @Canesha Edwards... They couldn't have said it any better. The only thing that I would add has to do with mindset. You are your only true obstacle. You have to be willing to NEVER GIVE UP & PERSEVERE! If you change your mindset, you will undoubtedly change your life. Stay optimistic about your future success!