All Forum Posts by: Jeff Boyer

Hi Jordan,

I have had quite the opposite experience from what Carl is saying. We have 3 properties that are currently rented to section 8 tenants in Jacksonville, and whenever we purchase a new property we try to go that route first. In terms of removing the tenant, every year Jaxha sends out a renewal letter. You say whether you are renewing or not. It also simplifies rent increases as you let them know in that letter what you are raising the rent to and they notify the tenant of their new rental amount. In terms of evictions, the tenants are more eager to avoid that as it is almost impossible to get a new voucher after being evicted. 

The property does need to be inspected after you select a tenant and fill out their voucher. They check for habitability and common things that show up are windows not opening or locking, and ventilation in the bathroom (must have a window or vent fan). There is a checklist on the Jaxha site that gives more details on the inspection.

The rent that the tenants have on their vouchers varies, and you will find a lot of people looking for a larger unit than they are priced for. HUD wants 2 heartbeats per room so you will find a lot of people who are priced for a 2 bed looking for a 3 bed and so on. Another thing to keep in mind is that the amount HUD is covering varies per voucher as well and you can see the tenants max contribution on the voucher.

In terms of tenant quality, you get the same types of people regardless of whether they are using a voucher. You can still screen them and do a background check. 

If you have any questions feel free to send them my way.

Have a great day!

Best Regards,

Jeff Boyer

AgentChase Real Estate

Hey Miguel, 

Check out Bryan Goode, he is very responsive and always willing to help.

BRYAN C. GOODE III, P.A.
320 1ST STREET NORTH, SUITE 613
JACKSONVILLE BEACH, FL 32250

PHONE: (904) 247-1755

Hi Lauren,

Brentwood would be a good spot if you are seeking cash flow, but appreciation will more than likely be limited. You have New Springfield to the South, and South of that you have Historic Springfield. Historic Springfield is seeing development, and prices have appreciated considerably over the past 5 years. New Springfield has seen a little growth, and we are seeing people attempt to flip distressed homes in that area. If people are priced out of Historic Springfield they may start moving to the New Springfield area. It is possible that New Springfield will see development and then push north into Brentwood, but I wouldn't invest their with that anticipation. 

Best Regards,

Jeff Boyer

AgentChase Real Estate

Hi Gerardo,

I asked half of your question to the tax collector's office a while back. They stated that if you are renting properties that you own under an LLC you do not need a business license. I believe the same would apply to selling properties that you own. If you are buying buildings with greater than 4 units that may not be the case. If I remember correctly I didn't have any issue getting ahold of them when I called so it probably wouldn't hurt to speak to someone at the tax collector's office.

Best Regards,

Jeff Boyer

AgentChase Real Estate

Non homestead properties are limited to a 10% increase in assessed value, so there is some protection for investment properties. 

In terms of what you should run numbers for regarding taxes I would always run them with the assumption that you will be assessed at the sales price as that can be the case. Sometimes if you snag a distressed property they may even assess you for more than the sales price, in which case you can try to dispute it when they send out notices. 

Hi Clara,

The tax appraiser won't give you a true market value. The Just Value is their estimate on market value (which is typically lower than market), and then the assessed value is what you are taxed on. Even on a new construction property that sells for 500k you will typically see the market value per the tax appraiser come in around the low 400s. 

The reason assessed and market differ is due to homestead portability and caps on the increase in assessed value each year (3% for homestead and 10% for non). 

If you are looking to find true market value you would need to look at the most recent sales. This is available on the appraiser's site and sites like zillow. 

Best Regards,

Jeff Boyer

AgentChase Real Estate

Hi Elicia,

Check out Trustline Mortgage, they are reliable and responsive. If you reach out to them ask for Ryan Salem, he will definitely be able to help.

Jeff Boyer

AgentChase Real Estate

Hey Nick,

Check out LendingOne, we have a similar situation in Starke Fl that we are using them for.

Jeff Boyer

AgentChase Real Estate

Hi Moe,

Check out Crossland Title in San Marco. They work with investors and they are very responsive. 

Jeff Boyer

AgentChase Real Estate

Hi Jamey,

Those are the average time on market numbers for the last 90 days in Duval county. If you bought something turn key and priced it right that is what you could anticipate in terms of time to find a tenant. I put the average time on market for Clay county below as well. If you are looking at Orange Park I would keep an eye on the Meadowbrook area, you can still find some good deals there. If you have any questions feel free to send them my way.

32003 : 15

32043 : 15

32065 : 17

32068 : 19

32073 : 18

Jeff Boyer

AgentChase Real Estate