All Forum Posts by: Jack Bobeck

I would check the tax collector, all properties are owned by city (jax) or county government and leased back to the users in the form of taxes. Someone is paying taxes on the property right now. Check with the tax collector with regard to the parcel number. This is a sure thing.

If not, contact your city council person in that district for help. That is why they are there in govt, to help the citizens.

Jack

I have known Gregg and Alex at JWB for many years. Great guys, subscribe to their newsletter too! They are buying, fixing and renting out on their own right now. They have a few properties they sell to investors, but for the most part, I am seeing them buy, hold, fix and wait for the market to sell into a higher market.

There are still a boatload of foreclosures yet to hit the market here in Jax. Lots of cheap money still flowing in from South Florida and overseas too. RE is good in Jax right now.

Jack

Traditions Realty here in Jax, buys, sells, prop manages, and locates tenants for properties. You can do it all under 1 roof, if you so choose. They charge us the first month's rent. We get the security deposit.

Jack

Melissa,

Welcome to BP and the Jacksonville, FL investment world! Learn all you can out here at BP, because it is a great site with great and free info.

Jack Bobeck

Jacksonville, FL

My wife is an agent and I help her in between my projects. She also makes offers for my properties and sells my projects. It all comes down to time. She can make a bunch of low ball offers on properties and hope to close a deal for 3% of $20,000 over a period of 1 hour or she can spend that same hour with other buyers on a $250,000 deal and make the same 3% on a deal there.

It all comes down to time and what your time is worth on a deal. I don't fault agents for turning down investors, and I don't think either should get into a relationship with the other WITHOUT interviewing each other:

1) Agent: If I, said agent, submit offers, will you commit to selling the listings with me at the higher price for flipping purposes?

2) Agent: If the purchase is only a 1 time deal, do you have other investor friends you can introduce me to, so that I can grow my business, (quid pro quo, something for something).

3) Investor: Agent, please work with me to submit offers using online tools to streamline the process and cut down on the amount of time it takes all of us during the process

4) Investor: I understand the value of time and I want to get things done as soon as possible as well, if either of us feel that we are being taken advantage of, we will make the other aware of it and terminate the relationship without any hard feelings.

The last item may sound trivial, but it is important to communicate between the agent and investor. The Real Estate community is small, even in large cities, neither the agent, nor the investor want a bad reputation.

But I believe these are all good points in the thread and it is interesting to learn each person's thoughts on the subject.

As boring as the classes are in person, my wife recommended them over the online classes. You can create notecards to learn from in person with the classes, and you have access to the instructors. Sorry, being there in person is best as far as she has told me, it gets you trained for a future of working with people one on one.

The one when I did not listen to my GC about what to do and what not to do. Unless you are the general contractor, listen to the people around you who you pay and remember why you hired them. TRUST is something easy to lose.

@David Franza what happens at the end of the 60 month term (5 years)? You have the option to buy the house at the price you determined when you first set the option agreement, what happens if your sublet wants to buy it? Double-close? I think its a great idea, so long as you get a good down payment. This really is the difference maker with these deals.

@Brandon Sturgill The formula isn't pointless, it is better than pulling a number out of the air, but it does have its flaws depending on what your strategy is and who you are selling to. I buy properties to fix and flip to investors who can put tenants in and cash flow properties at greater than 1% of the purchase price. So what do I care if the ARV is 80,000? As long as my strategy works for the people buying the house, I know I need to buy really low, and use what @David Beard said about putting in a floor of $15k for your rehab. If all else fails too, know that you can rent the property and then sell it as a turnkey rental, in which case you have a more valuable product for an investor.

@Joshua Dorkin - Thanks man! I feel as if I know you and Brandon first hand having listened to the BP Podcasts while I work at properties. Great stuff man! Great stuff. I hope someday I can be interviewed. But I am happy to help my fellow investors one post at a time, when I can.

Jack