All Forum Posts by: Joey Hamaoui

This property is prepped for your renovation. A total clean slate this property has been stripped down and cleaned up for an experienced investor to renovate this property into his next cash cow. Featuring a brand new roof this home is ready someone to step in and finish the interior. 

It can be flipped or rented out upon completion. 

@Jimmy Sanders @Jaime Vega I just emailed you both. Please send me any questions via email. 

This home is an investor goldmine. The home is in need of a good renovation. A real handyman special for anyone who wants a property needing some TLC. Smaller homes are renting between $800-900/month. This home is 800SF larger and should demand a higher rent for a buy and hold investor. ARV on the home should range from $85K-$105K depending on quality of the renovation.

MLS # 943957

*To make an offer please email me or call me. I do not monitor BiggerPockets on a daily basis. *

2015 Tuskegee Rd, Jacksonville, FL 32209

This property is a good opportunity for a buy & hold investor or a humble fix and flip project. 

It is a very large home for the area and rents range from $800-900/month for homes that are 800SF smaller. You should be able to demand a higher rent for this unit. 

ARV will range from $85K-105K depending on the quality of your renovation.

The property will need a decent amount of renovation. 

See more about the property

The following terms will be most appealing to the seller:

• CASH, no financing contingency. 
• AS IS, Seller to make no repairs. 
• Non-Assignable
• No inspection contingency.
• Close in 10 days. 
• Proof of Funds with offer. 
• If seller is paying for title cost, title company will be Sunshine Title. 

Please email me directly at [email protected] with all offers and inquiries or call me. 

Additional photos:

It's a difficult deal to make. Usually people owe on their mortgage and just want out. They don't want to be tied to that property anymore in any way.

@Edward Hamill what is the difference between modular homes and mobile/manufactured?

@Dave Foster is there a strategy to pull capital out of real estate in CA and similar states and pour it into investments in Jacksonville without paying the state taxes in CA?

That's true. I work with a lot of investors focusing on single family homes. As of late I've been getting a lot of interest in duplexes, triplexes and quads but usually investors are trying to build a portfolio of SFRs.

Do you want to sell your rental property strictly to bring in the capital to build on your lot? Have you considered doing a cash out refinance on the rental property and using those funds to build?

@Kurt Stein you do not need a license to rent out the unit. 

Not having a permit for the renovations could potentially be problematic when you try to get it insured and if you get a really terrible tenant who is trying to avoid eviction they could say they're withholding rent because you're not in compliance with city code. If they issued a letter of withholding you'd be up a creek. 

I would recommend that if the renovations look decent enough that it's not a huge cost to bring it up to code you get a drawing done and apply with the city to have it added to the square footage. Keep in mind while this may help your appraisal it may also raise your taxes.