All Forum Posts by: David Talbot

Nocatee is nice, I own a house over there that we used to live in but now rent it out. The reason people choose PVB over the other parts of St. Johns is Ponte Vedra High school which is definitely king of the academics in the region for public schools. Absolutely stellar academic school. 

All of the schools through middle school in northern st.johns is good, the high schools is where the quality diverges. All are good, but PVHS is materially better.

I live in Ponte Vedra Beach. Great place to live, fantastic schools and worlds cheaper than Chicago (Which I lived in a decade ago). PVB is relatively more expensive than the greater Jacksonville, it is dirt cheap compared to even the "adequate" parts of Chicago.

PVB is a great place to live but the mortgage cost relative to the rental rates are terrible for buy and hold. You'd buy a $400k house and be lucky to rent it for $2.2k/mo. Other parts of JAX are better for buy and hold. There are flipping opportunities in PVB.

Good luck and enjoy your move to Florida!

150k is a little light for a 3/2 in the beaches. I would recommend one of the established neighborhoods in southside. Good luck!

You will find house prices in ponte vedra high versus what you can get for rent. For example, a 450k home in PV 2500sq rents out around $2500. Add to that most of pv is covered by one hoa or another.

There are a lot of homes in sawgrass in desperate need of updating from the 70s and 80s but the sqft on these homes tend to be below the modern standard expectations of the PV buyer. That said there are multiple people rehabbing and flipping the wrecks of sawgrass for fun and profit.

I'd recommend living in PV and sending your kids to the best in Florida pv high school but for rentals and flips look in southside, Riverside and San Marco.

I live in PVB. Great place to live. Always looking for structurally sound in need of renno anywhere in PVB except dolphin cove and ponte vedra lakes.

One note on PVB-not good for rental. For what you'd pay to purchase the cap rate on market rental rates here would put you barely paying the mortgage. 

I'm looking for property in the northern end of Ponte Vedra Beach, FL in the Solana area. Either in Sawgrass our outside of it. 1900-2,600/sqft range. Rehab ok as long as the price supports the ARV.

No, it isn't bad at all and you can definitely find homes in this area for 100k. We may have a definitional thing here. Jacksonville, FL is the entire county of Duval (a unique designation, most places the city is a sub-set of the county). Jacksonville Beach is a subset of duval running from the intercoastal waterway (which is east of the property indicated) to the ocean.

You can definitely bike over that bridge (there is even a bike lane) but keep in mind that bridge peaks up a bit so boats can go under it and it would be a pretty hard ride to get to the beach in 20 minutes.

Amend definition, if you're willing to be west of the intercoastal, there are a lot of properties that could be had for $100k.

20 min bike ride buys you a pretty good radius :) That said, anywhere between the intercoastal and the ocean, you'd be hard pressed to find a 3/2 at $100k. A more realistic budget would be a low side of $200k for something that needs some rehab and/or is very low sqft, probably closer to $250k.

Welcome future neighbor! If you're trying to get into Jax beach beachfront you're probably looking at one of the high rises which will be costly and have a pretty high maintenance fee which will make is nearly impossible to cash flow. If you look a couple blocks back from the beachfront (even east of A1A) you'll find plenty of options that cashflow narrowly. Look further north toward mayport and you'll find a fair number within blocks of the ocean that can cashflow until your arrival. Of course mayport has no nightlife so that might not meet your "house I want to move in to when I relocate" needs.

If you have, or plan to have, kids, I'd recommend either Neptune beach if you want to live in Duval or anywhere in Ponte Vedra for the schools. Ponte Vedra has some of the best schools in the whole state and we couldn't be happier with them. That said, it is hard to find properties that cash flow in Ponte Vedra (high purchase cost versus going rates for rents) but it is better for families.

Good luck!

I'd prefer a good quad but would do smaller if the math works. As for return, I'd like something that does return cash past all expenses year 1 with a solid margin of safety. (Typical assumptions, 50% expenses, property management, debt service). I can get 12% roic on a Russell 2000 index so I would like to see north of that annually averaged over a 10 year period given the naturally higher risk associated with something like this.

I'd love to go to the meet up (I have a lot to still learn here and definitely need to meet people) but might not be able to make this months due to family commitments.