All Forum Posts by: Dessiree Jimenez

@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!

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!

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.

@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.

Hi Dessiree,

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 @Yazan Alhalalmeh : Welcome to Bigger Pockets! I am an out of state investor from Northern Virginia and invest in Cleveland SFH and multifamilies. Let me know if you want to connect and talk about turnkeys or investing in general. Definitely would love to chat!

@Dessiree Jimenez I recently used Aven bank with has an interesting concept of issuing a credit card, with the limit determined by the equity in your home and the LTV they would lend to.

They were easy to use, did a soft credit pull and offered me $100k at 6.99%, no fees at all. I proceeded, at which time they did the hard credit pull, set up an appointment with an on-line notary and I signed all the docs.  This was all on Monday and it showed on my credit report today as a new home equity line.  So quick and easy.

The actual concept of using the card I can't comment on yet (as I haven't received the card in the mail yet) and it will be interesting. They offer 1.5% cash back on charges, and 2% balance transfer fee to pull money into my checking acct.  Not super happy about that fee but the ease of the application and speed were really nice.

@Dessiree Jimenez You mentioned getting approved at 8% which is significantly higher than most HELOC's. Where else were you seeing much lower HELOC quotes? The ones I see lower are for 1st position only.

I don't think 8% is a terrible rate for a 2nd position mortgage right now, IMO at least.